Coburn Rejoins Gang of Six- deal in the works?

Status
Not open for further replies.

ProfJohn

Lifer
Jul 28, 2006
18,251
8
0
Looks like we might have a deal in the works. I believe that Obama is sorta on board with this plan as well.

The source is National Review that evil right wing magazine.
Sen. Tom Coburn (R., Okla.), who earlier today rejoined the bipartisan “Gang of Six,” tells National Review Online that the debt-limit impasse could be solved this week. A large group of Senate Republicans and Democrats, he says, are working to tie the group’s $3.7 trillion deficit-reduction plan to a debt-limit extension.

“We ought to get the best possible deal and fight again,” Coburn says. “This is considerably more than what it was when I left [the group in May]. We ought to get more, but this is the reality of where we are.”

After a meeting with over 50 senators this morning, Coburn is confident that there is a growing consensus to use the proposal as a debt-limit solution. “You never see people’s ultimate position until you get down to where this is the last move on the chessboard,” he says. “That is when people will expose what they are willing to do.”

Coburn acknowledges that the “Gang of Six” plan will not be immediately popular in the House, where Republicans hope to pass “Cut, Cap, and Balance,” a Republican Study Committee package, later today. But after having four long conversations with President Obama this week and consulting with senators, he believes that the “Gang of Six” plan has a real chance of being passed.

“This is more bipartisan,” Coburn says. “‘Cut, Cap and Balance’ would work, but the fact is, you need to get the votes for it.” He calls the “Gang of Six” plan a “good first step” and hopes conservatives recognize that the $500 billion in immediate spending cuts, plus the long-term $3.7 trillion in reductions, are “real” and “buy us time to work over the next three or four years” to enact deeper reforms.

“It’s not a tax hike, it’s a $1.5 trillion net tax reduction,” Coburn says when asked about conservative groups’ likely opposition to the deal. He cites the plan’s elimination of the Alternative Minimum Tax as an example of its conservative bona fides.

“The American people want compromise, they want to solve the problem, and they want to see significant changes,” Coburn says. “It accomplishes all of those things. It doesn’t go far enough, but it takes a pretty big bite out of the apple.”

House Speaker John Boehner told reporters Tuesday that he is open to reviewing counterproposals. “I am not going to give up hope on ‘Cut, Cap, and Balance.’ But I do think it’s responsible for us to look at what Plan B would look like,” he said. “There are a lot of options available to us.”

“It’s going to take some time for them to consider this,” Coburn predicts. “But with a net tax cut in it, and you get some significant spending relief, what’s not to like? Live to fight another day.”
 

ProfJohn

Lifer
Jul 28, 2006
18,251
8
0
More from me evil right wing source
In in a short statement before today’s White House press briefing, President Obama threw his lot in with the “Gang of Six,” who this morning unveiled a $3.7 trillion deficit reduction package at a meeting of about 50 senators. He said the plan was “consistent with the approached that I’ve urged” in that it contains cuts to both discretionary and defense spending, significant savings in entitlement programs and a “revenue component.” In other words: “shared sacrifice.”

Obama said the proposal was a “very significant step” and expressed hope that congressional leaders are “prepared to start talking turkey . . . and move this thing forward.” However, he said the contingency plan being negotiated by Senate leaders Harry Reid (D., Nev.) and Mitch McConnell (R., Ky.) “continues to be a necessary approach” in the event a deal cannot be reached. “We’re in the eleventh hour. There’s not a lot of time left,” he said. “At a minimum, we’ve got to raise the debt ceiling.”

In a not-so-subtle dig at House Republicans, who today are voting on their “Cut, Cap, and Balance” legislation, Obama warned: “We don’t have any more time to engage in symbolic gestures. It’s time to get down to the business of actually solving the problem.”

The president said he intended to call House Speaker John Boehner (R., Ohio) this afternoon following votes in the House in order to arrange a meeting schedule for the remainder of the week.
 

Thump553

Lifer
Jun 2, 2000
12,650
2,385
126
I'd like to see more specific information. Reducing the deductibility of retirement savings and family credits seems counterproductive to me, at least at first blush. OTOH it seems extremely similar to Obama's proposal with its demonized "tax increases."

At this late stage, I think the best for the country (after the GOP house show vote today is history) is to adopt some version of the McConnel proposal and be done with it. I'd hate to have some major changes rushed through with no time for public input.
 

HomerJS

Lifer
Feb 6, 2002
35,957
27,638
136
Looks like we might have a deal in the works. I believe that Obama is sorta on board with this plan as well.

The source is National Review that evil right wing magazine.

So according to this everything is accomplished through tax and spending cuts. Where is the compromise??
 

a777pilot

Diamond Member
Apr 26, 2011
4,261
21
81
From what I have read this is nothing but a sell out by the republicans.

Do any of you, even one, actually think there will be any spending reductions? I flat guarantee that the FY 2013 budget will be larger than the soon the be debated FY 2012 budget which is larger than the FY 2011 budget.

Oh, yes the tax increases and further restrictions on our daily lives will be enacted immediately.

Like I said before, just another tax in the long and painful death by a thousand taxes for the United States.
 

Anarchist420

Diamond Member
Feb 13, 2010
8,645
0
76
www.facebook.com
The fact that the Republicans are compromising with the tyrant in chief when they don't have to is what makes it so fucking infuriating. But then again, what should I have expected from those assholes?
 

a777pilot

Diamond Member
Apr 26, 2011
4,261
21
81
The fact that the Republicans are compromising with the tyrant in chief when they don't have to is what makes it so fucking infuriating. But then again, what should I have expected from those assholes?

Was there ever any doubt that they, the republicans, would fold and give everything away?
 

ProfJohn

Lifer
Jul 28, 2006
18,251
8
0
More recent updates on details suggest that it may not be able to pass the house.

Or they may need to get enough people down the middle from both parties to get around the pro-tax & anti-tax types.

Sadly the cuts aren't really cuts as much as they are promises to cut in the future.

Once again we are being sold out by our leadership. It's like that guy from pop-eye. I'll pay you tuesday for a hamburger today but instead I'll cut spending next year for an increase this year.
 
Status
Not open for further replies.