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Debt-limit agreement may go through

Ore_Ele
Posts: 25,980
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8/1/2011 12:47:28 PM
Posted: 5 years ago
http://www.bloomberg.com...

Looks like Boehner (and fellow republicans) and Obama have reached a comprimise after the Boehner Bill died almost instantly in the Senate on Friday. Both Obama, and Boehner believe that this comprimise bill will be passed in both houses, with some resitance on both sides, but not enough to stop it.

This is a big win for the president, because most people thought he'd roll over, grab his ankles and tell the republicans "thank you sir, may I please have another." Instead, he actually managed to get a little bit (emphasis on "little") of a comprimise.

If played right (politically), this could be twisted to be a positive for either side. Obama could say that the republicans tried to do it their own way and were unable to even agree on a bill of their own until just friday, which Boehner was not happy with how much he had to comprimise in his own party, while he was able to sit down over the weekend after they failed, and get something together. This can be played to that the republicans are unable to actually get things done, even amoungst themselves.

The republicans can twist this that they got most of the concessions in their favor, no new taxes, and if the committee that is in charge of continued buget work (as required by the bill) tries to raise taxes, the first $3.5 trillion of tax raises don't even count (so they would have to raise taxes by $4 trillion, just to get $500 billion of benefits) because of the Bush Tax cuts. That will push them to focus on spending cuts, rather than tax increases.
"Wanting Red Rhino Pill to have gender"
Ore_Ele
Posts: 25,980
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8/1/2011 12:56:34 PM
Posted: 5 years ago
At 8/1/2011 12:49:29 PM, Rockylightning wrote:
Holy crap. I just read "Boehner" (instead of "Bay-ner) as "Boh-ner".

I think he changed the pronunciation for a reason.

Yeah, though you can imagine. If Weiner had pronounced his name as "way-ner" instead of "wee-ner" then he would have been golden.

Anyway, thoughts on the comprimise? Is it good for the people? How will it play out for Republicans or for Democrats?
"Wanting Red Rhino Pill to have gender"
Steelerman6794
Posts: 158
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8/1/2011 3:02:32 PM
Posted: 5 years ago
OMG WE JUST REACHED A DEAL SO EVERYTHING IS TOTALLY GOING TO BE BETTER NOW!!!!!

Who do they think they're kidding? All the compromise will really do is raise the debt ceiling until 2013, at which point we get to have this little fight all over again.

Besides raising the debt ceiling, what will the new budget achieve in terms of producing a sane economic policy? Social Security and Medicare are left as-is, tax rates are left as-is, and no impactful cuts are being made to the defense budget. The balanced-budget amendment isn't even included in the deal, except vague plans to vote on it at some point in the distant future.
Ore_Ele
Posts: 25,980
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8/1/2011 3:20:11 PM
Posted: 5 years ago
At 8/1/2011 3:02:32 PM, Steelerman6794 wrote:
OMG WE JUST REACHED A DEAL SO EVERYTHING IS TOTALLY GOING TO BE BETTER NOW!!!!!

Who do they think they're kidding? All the compromise will really do is raise the debt ceiling until 2013, at which point we get to have this little fight all over again.

Besides raising the debt ceiling, what will the new budget achieve in terms of producing a sane economic policy? Social Security and Medicare are left as-is, tax rates are left as-is, and no impactful cuts are being made to the defense budget. The balanced-budget amendment isn't even included in the deal, except vague plans to vote on it at some point in the distant future.

$3.2 trillion over 10 years isn't exactly nothing. Sure, it isn't going to change everything by itself, but surely you agree that it is a step in the right direction?
"Wanting Red Rhino Pill to have gender"
Steelerman6794
Posts: 158
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8/3/2011 11:37:51 AM
Posted: 5 years ago
At 8/1/2011 3:20:11 PM, Ore_Ele wrote:

$3.2 trillion over 10 years isn't exactly nothing. Sure, it isn't going to change everything by itself, but surely you agree that it is a step in the right direction?

I do think its passage is a step in the right direction. My fear is that potential loopholes will be exploited by politicians to the point where its actual impact will be nil.
Ore_Ele
Posts: 25,980
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8/3/2011 11:43:18 AM
Posted: 5 years ago
At 8/3/2011 11:37:51 AM, Steelerman6794 wrote:
At 8/1/2011 3:20:11 PM, Ore_Ele wrote:

$3.2 trillion over 10 years isn't exactly nothing. Sure, it isn't going to change everything by itself, but surely you agree that it is a step in the right direction?

I do think its passage is a step in the right direction. My fear is that potential loopholes will be exploited by politicians to the point where its actual impact will be nil.

Well, they are forced to continue cuts (must be made by Thanksgiving) or automatic cuts across the board will be implimented.
"Wanting Red Rhino Pill to have gender"