Shocking News Disseminated
I’m afraid I have some rather shocking news for you. I want you to sit down first. Are you sitting? Yes? Good.
Remember that Congressional committee charged with figuring out how to reduce the deficit? Well, it turns out they’re looking to delay the tough decisions until next year:
With a little over a week left to reach a deal, members of the Congressional deficit reduction panel are looking for an escape hatch that would let them strike an accord on revenue levels but delay until next year tough decisions about exactly how to raise taxes.
About “how” to raise taxes.
Under this approach, the panel would decide on the amount of new revenue to be raised but would leave it to the tax-writing committees of Congress to fill in details next year, well beyond the Nov. 23 deadline for the panel itself to reach an agreement. That would put off painful political decisions but ensure that the debate over deficit reduction stretched into the election year.
Looks like Mr. Aloof remains mostly aloof:
President Obama, who has kept his distance from the deficit reduction panel, called the co-chairmen on Friday and urged them to reach a deal. He said he would not accept legislation overriding the cuts that would occur automatically if the panel fails.
So how will our taxes be raised?
Republicans said their latest proposal would raise $300 billion by limiting deductions and other tax breaks that primarily benefit higher-income households.
“We would structure it so the top two brackets pay $250 billion more than they’re paying today,” a Republican Congressional aide said.
The story goes on for paragraph after paragraph about all the discussions the deficit-reduction panel is having about raising taxes: how much will taxes be raised; how will they be raised; who will pay more after they’re raised; etc.
There is hardly a word about cutting spending. Just one quote from Joe Lieberman at the end that brings to mind the term “lip service.”
Looks like I picked the wrong week to stop sniffing glue start reading the news again.
Which is why moderate Republicans DON’T WORK!!!!!!!!!!!!!!!!!!!!!!!!!!!
ODB (0f13a8) — 11/14/2011 @ 6:23 amWhat do I need Admiral Ackbar to point out ‘it’s a trap’ for you.
narciso (ef1619) — 11/14/2011 @ 6:24 amBurn it down. Burn it all down.
ODB (0f13a8) — 11/14/2011 @ 6:25 amBut you can bet they will claim whatever comes out of this committee somehow meets the requirements for staving off the automatic cuts, no matter how big a joke it is.
Soronel Haetir (f21d6f) — 11/14/2011 @ 6:38 amOne of the reps, Becerra, was fundraising off his committee slot, another ‘Do you know who I am’ Kerry, who profited big from two aspects of the Prescription Drug bill, well do I need to say anymore.
narciso (ef1619) — 11/14/2011 @ 6:47 amNotice that they skipped right over whether or not taxes should be raised. The only real question they considered was how much they will be raised. And even this sea change concession led the Dems to walk away from the table, as it did not hurt the evil rich enough.
JD (318f81) — 11/14/2011 @ 6:55 amI’m with ODB. Out, moderate demons!!!
Unpublished (113930) — 11/14/2011 @ 6:58 amFor all the talk moderate Republicans spew one thing is certain — their status quo is #1 priority. The rest is cocktail lounge talk for the effete intellectual in all of us.
Down with them all by all legal means necessary.
ODB (0f13a8) — 11/14/2011 @ 7:06 amI am shocked, shocked to hear Congress is kicking the can down the road.
AZ Bob (26b8e0) — 11/14/2011 @ 7:13 am***
John Bibb (193f6e) — 11/14/2011 @ 7:20 am“Unexpectedly” strikes again! Deja Vu all over again. Nov. 2012 should fix it all.
***
Rocketman
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F these effin b@starsds. Not one penny will come from me or my crowd if the decision is raise taxes. Total BS.
bill glass (14cc95) — 11/14/2011 @ 7:22 amDelay:
Check out Monty this AM and pay particular attention to Kratos’ links to China.
We have already slipped into the abyss. Spain’s 10-year yields are over 6% now, MF Global was far larger than Lehman, AIG is dead meat, yada, yada.
November 23rd begins the endless list of US downgrades and bond yields start taking off here.
gary gulrud (d88477) — 11/14/2011 @ 7:24 amIf we have limited government regulations we will be like China!!!EleventyOne!!!
/Sesquipedophile
You people are grand wizards
/Sesquipedophile
DohBiden (ef98f0) — 11/14/2011 @ 7:24 amSo your prognostication was off, by a day or so, gary, we’re bailing out the Spanish ‘green energy’
narciso (ef1619) — 11/14/2011 @ 7:30 amplays.
Pat Toomey is no “moderate”. I trust him to do the right thing. This tax “increase” sounds like a positive reform, eliminating what are really subsidies, not tax cuts. And the reason you’re not hearing about spending cuts is that that’s not news; the Rs insist on them, the Ds refuse. The news is that the Rs have found some tax “increases” they can support. Now the ball is in the D court to find spending cuts they can support. And the Ds are saying “those tax increases don’t count, because they make the system fairer, and to us the unfairness of the system is a feature, not a bug”.
Milhouse (ea66e3) — 11/14/2011 @ 7:39 am14. Nostradamus I ain’t.
Our district just rejected 2 new levies, alone among 59 in the state in rejecting an existing levy.
Our Dem Assemblyman ran on returning income taxes to the local district and it seems they’re taking him at his word. Imagine.
gary gulrud (d88477) — 11/14/2011 @ 7:44 amI won’t support any candidate who votes to raise taxes and that includes those running for national offices as well as state and local office. Only candidates who refuse to raise taxes and insist on spending cuts will get my vote. No exceptions.
ropelight (5b0080) — 11/14/2011 @ 8:08 amIt is similar to the border situation. Secure it first before any form of amnesty or legal status for illegals. REDUCE the spending before there is any talk of new revenue which is really increasing taxes. If you increase taxes, history shows us that Congress will simply SPEND MORE not reducing spending at all. Show me the CUTS, real cuts, not a reduction in the rate of spending increases! How about a 5% cut in civil service wages to start and freezing federal hiring and wages until federal compensation is in line with the struggling private sector. Oh and increase revenues by allowing drilling and therefore increasing revenue by private companies paying royalties! Also, give the pipeline from Canada to Texas the green light NOW. Jobs increase federal revenue, duh! But no other new taxes or revenues until spending is actually CUT in a meaningful way. Start with Obama’s GREEN “investments” that have gone to all his campaign bundlers, contributors and fundraisers, what a criminal waste of federal resources with borrowed money given to pie in the sky, unworkable business models of connected insiders.
Texas Mom 2012 (cee89f) — 11/14/2011 @ 9:09 amMerkel’s party, the CDU, has voted not to oppose sovereign exits from the euro.
The Mediterranean will in a decade’s time resemble Cuba, all the German cars will be of antique vintage.
gary gulrud (d88477) — 11/14/2011 @ 10:04 am“Profiles In Courage” – NOT!
AD-RtR/OS! (885414) — 11/14/2011 @ 10:46 amI could change their minds if it wasn’t for this damn French inconvenience that I’m involved in.
Ilich Ramirez Sanchez, aka Carlos, the Jackel (885414) — 11/14/2011 @ 10:51 amropelight & texas mom, I hear you, but Toomey is on our side. He knows all that too. And the truth is that tax reform is a good thing on its own. Getting rid of subsidies is a good thing on its own, even if they take the form of tax breaks.
Milhouse (f8511c) — 11/14/2011 @ 2:42 pm“In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist. We must never let the weight of this combination endanger our liberties or democratic processes. We should take nothing for granted. Only an alert and knowledgeable citizenry can compel the proper meshing of the huge industrial and military machinery of defense with our peaceful methods and goals, so that security and liberty may prosper together.” – D.D. Eisenhower, 1/17/61
So much for the threat and fear of deep, drastic, automatic cuts. The DoD will not be denied.
DCSCA (9d1bb3) — 11/14/2011 @ 4:06 pm#19 My vacations just got 50% cheaper. Awesome.
ODB (0f13a8) — 11/14/2011 @ 4:09 pmBigger than Roe v. Wade….
AD-RtR/OS! (885414) — 11/14/2011 @ 4:16 pmhttp://www.cato-at-liberty.org/obamacare-is-bigger-than-roe-v-wade/
My state’s two senators (one D and one R) in a joint appearance today said they do not want or expect the committee to be given an extension.
People commenting here are likely well aware of it, but I want to remind all that are some rather ugly mandatory death penalty type provisions involving the goring of sacred cows– which neither party wants– should the super committee fail. Don’t forget that.
elissa (f2993a) — 11/14/2011 @ 5:37 pmSometimes sacred cows need to get gored. And then the congresscritters, especially the Dems who are playing games here, can suffer the consequences.
JD (318f81) — 11/14/2011 @ 5:40 pmASEAN is nearing settlement of cross-border transactions in Chinese Yuan: Reuters “sources said that the date would likely be late this year or early next year.”
Not quite bye-bye to US control of currency exchange, but a big step towards domestic inflation.
gary gulrud (d88477) — 11/15/2011 @ 7:16 am.
Throw the bums out. Every person on that committee who voted for this delay should lose his job.
.
Smock Puppet, Jingle Rewriting Expert (2fb1c2) — 11/15/2011 @ 3:01 pmOh, swell.
Thank you, Mr. Boehner.
Thank you, Mr. McConnell.
Thank you, all you spineless, compromising, ######, %%%%%, *******s in the RINO party — you know who you are.
I hope to see you in hell one day.
A_Nonny_Mouse (57cacf) — 11/15/2011 @ 3:23 pm