Comment

Comment by Jason Fischer on July 31, 2011 at 8:52pm

Only in Washington is proposing to reduce your escalation rate on spending considered cutting spending. The 10 year projections aren't even legally binding...

Comment by Charles Prince on July 31, 2011 at 8:47pm

I guess it's true...politics is not for the faint of heart.

Comment by 85MCstang on July 31, 2011 at 8:47pm

The top part of my first comment below should read:

Similar to House-passed bill, framework authorizes POTUS to request second tranche of
debt limit increase of $1.5T if:

  Joint Committee cuts spending by greater amount than the requested debt limit hike,
OR
  A Balanced Budget Amendment is sent to the states.

 

Comment by Jim Ryan on July 31, 2011 at 8:47pm

A total joke of a deal.  they refuse to reform themselves.  need to recall Boehner and McConnell and vote in new leadership.  Case in point>  NEA protests against education reform.  It's never about the children.

This weekend, special interest groups will converge on our nation's capital for a protest against education reform in America.

Yes, you read that right: a protest against education reform.

It's a shocking concept...opposing education reform, even as American children are being outpaced by kids in 35 other countries, as big-city schools…called "dropout factories" even by the mainstream media…continue to fail a generation of children, and as three quarters of high school seniors can't identify the purpose of the U.S. House of Representatives!

American education is in crisis.

Meanwhile, 50 unions—led by the National Education Association—are lining up to celebrate this unacceptable status quo and to lay the groundwork for a full-scale repeal of the reforms we've championed for the last decade.

Furthermore, the NEA is planning to collect an additional $20—on top of their already-sky-high dues—from each and every public school teacher among their ranks, for the sole purpose of funding political campaigns and lobbying. They're doing this even as public opinion surveys show that a plurality of teachers support private school choice!

Make no mistake: these special interest groups oppose school vouchers, oppose public charter schools, oppose giving parents more freedom to home school their children, oppose merit pay for teachers, and even oppose allowing state leaders to close schools that fail our children year after year.

These special interests file lawsuits to remove children from the private schools of their parents' choice, and even to overturn vouchers for children with special needs.

Now, they're taking to the streets and promising to say anything, do anything, and spend anything to prevent reform where it's needed and repeal it where it exist

Comment by Richard Stotts on July 31, 2011 at 8:46pm

This is worthless.  I learned this week that the baseline used to calculate saving assumes a growth rate of 7.5% per year, so assumes a total debt increase of 9.5T in just 6 years.  So, 2T as I have heard advertised does not cut spending.  There is no room for celebration here.  The Tea Party succeeded to exposing the problem, but not clearly, because I did not know about the “baseline” until recently, until this week when I discovered that an actual budget freeze would equate to a 9.5T cut over six years.  That comment left my head spinning.  These people are out of touch with reality.  Can we get something workable before Obama successfully destroys our economy?

Comment by 85MCstang on July 31, 2011 at 8:42pm

"

Similar to House-passed bill, framework authorizes POTUS to request second tranche of
debt limit increase of $1.5T if:

. Joint Committee ,
OR
. A Balanced Budget Amendment is sent to the states."

The above is a huge loophole as it could take years to get an amendment passed by the necessary number of states. The bill should read: 'OR A balanced budget must be passed by the necessary number of states prior to authorization of further hikes to the debt limit. Else, cuts in spending by greater amount than the requested debt limit hike must be implemented within the same time frame (for instance, if $1trllion in debt limit hike will be used in one year then budget cuts need to be made in the current year as well).

 

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