Obama finally tackling the National Debt by supporting a bipartisan fiscal commission

[JEDI]

CNN:
http://politicalticker.blogs.cnn.com/2010/01/23/under-pressure-obama-backs-fiscal-commission/

"declared his public support for creating a fiscal commission that could propose sweeping tax increases and spending cuts to try to slash the soaring federal debt."

But it wasnt all altruistic on Obama's part:
"lawmakers were adamant that they would not support an increase in the debt ceiling unless the administration supported the full-scale statutory fiscal commission "

THe fiscal commission:
10 Democrats (eight members of Congress and two Obama officials) and eight Republicans (all from the House and Senate)

"If 14 of the 18 members approve the package, giving it a bipartisan nod, it would force an automatic up-or-down vote in the House and Senate on whether to implement the recommendations. "


Finally, doing something about our runaway National Debt!


edit:
Lets see if:
- the bipartisan commission can come up w/something good, or succomb to infighting

- Will House/Senate actually pass their recommendations w/just an up/down vote? Or will they water down the recommendations and add attachments galore?

 

[Ozoned]

CNN:
http://politicalticker.blogs.cnn.com/2010/01/23/under-pressure-obama-backs-fiscal-commission/

"declared his public support for creating a fiscal commission that could propose sweeping tax increases and spending cuts to try to slash the soaring federal debt."

But it wasnt all altruistic on Obama's part:
"lawmakers were adamant that they would not support an increase in the debt ceiling unless the administration supported the full-scale statutory fiscal commission "

THe fiscal commission:
10 Democrats (eight members of Congress and two Obama officials) and eight Republicans (all from the House and Senate)

"If 14 of the 18 members approve the package, giving it a bipartisan nod, it would force an automatic up-or-down vote in the House and Senate on whether to implement the recommendations. "


Finally, doing something about our runaway National Debt!

I like dog and pony shows. They make me lol!

 

[mav451]

Err...10 vs 8? How the eff is that bipartisan?

 

[EightySix Four]

Err...10 vs 8? How the eff is that bipartisan?

Because even if all of the dems agree at least half of the repubs would have to agree for it to automatically go to vote. More than likely 14/18 will be a tough number to get to.

 

[Craig234]

Because even if all of the dems agree at least half of the repubs would have to agree for it to automatically go to vote. More than likely 14/18 will be a tough number to get to.

And it's representative of the makep of Congress.

 

[Jiggz]

As usual it's perfectly in line, "tax increases . . ."

 

[drebo]

What the hell? I thought we had commissions on banking and the economy and taxes already. Why do we need another one?

This is just another vehicle the liberal elite is going to use to fuck over the middle class by raising taxes. Raising taxes is NOT the answer to deficit spending and debt.

NOT USING DEFICIT SPENDING AND NOT TAKING OUT DEBT is the answer to deficit spending and debt.

Another pretty speech from the circle-jerk parade. Couldn't tax the hell out of us with a "healthcare reform" bill that didn't actually do anything, so now they're just going to tax us without a cover story. Wonderful.

 

[Double Trouble]

Dog and pony show. Obama's advisors figured out that the public is very concerned with the out of control spending, so now it's damage-control time. They are taking steps to pretend to want to control the deficit. In reality neither the repubs (when they had the house, senate and white house) nor the dems have done anything other than spend spend spend.

 

[marincounty]

We need more Republicans on this commission, if there's one thing they know about it's deficits and debt.
Another round of tax cuts should fix everything.

 

[sandorski]

As usual it's perfectly in line, "tax increases . . ."

Tax Increases are a vital part of a solution. Sorry.

 

[marincounty]

Dog and pony show. Obama's advisors figured out that the public is very concerned with the out of control spending, so now it's damage-control time. They are taking steps to pretend to want to control the deficit. In reality neither the repubs (when they had the house, senate and white house) nor the dems have done anything other than spend spend spend.

Not completely true. Clinton's tax increase (which not a single Republican supported) led to an almost balanced budget, and he did pay down some debt. The vast majority of the debt happened under Republican administrations.

 

[drebo]

Tax Increases are a vital part of a solution. Sorry.

No, they're not. Our tax rate is already too high.

The solution, the ONLY solution, is a more fiscally responsible government.

The government needs to operate within its means. Period. The federal government was designed to be funded by tariffs and bonds. If it needs more money, it needs to do more about encouraging local manufacturing and exportation. Our trade deficit is killing us, and the bloated federal government is now floating on the backs of the middle class. Raising taxes does nothing to fix those root causes.

 

[sandorski]

No, they're not. Our tax rate is already too high.

The solution, the ONLY solution, is a more fiscally responsible government.

The government needs to operate within its means. Period. The federal government was designed to be funded by tariffs and bonds. If it needs more money, it needs to do more about encouraging local manufacturing and exportation. Our trade deficit is killing us, and the bloated federal government is now floating on the backs of the middle class. Raising taxes does nothing to fix those root causes.

Nope. Tax Increases are necessary if you're serious about eliminating the Deficit. Cut them later once Surplus is achieved. Otherwise you'll be dicking around Needing funding forever with all kinds of Issues popping up requiring more Deficit Spending. You do it as quickly as possible and to do that you Increase Taxes. No exceptions.

 

[Pens1566]

Our tax rates are the lowest they've ever been. Try again.

 

[nageov3t]

are commissions the new strongly worded statement?

 

[Patranus]

Our tax rates are the lowest they've ever been. Try again.

So that somehow means that they are not still too high?

Federal taxes are definitely way to high right now.

 

[Greenman]

More of the same bullshit. Hope and change my ass.

 

[MotF Bane]

Dog and pony show, that's all it is as usual, and the only thing they'll recommend is higher taxes.

 

[ProfJohn]

After getting his ass kicked in the last three major elections Obama now wants to balance the budget.... color me surprised.

 

[Patranus]

After getting his ass kicked in the last three major elections Obama now wants to balance the budget.... color me surprised.

Not to mention that this is after his failed 1 trillion dollar stimulus.

 

[RedChief]

Nope. Tax Increases are necessary if you're serious about eliminating the Deficit. Cut them later once Surplus is achieved. Otherwise you'll be dicking around Needing funding forever with all kinds of Issues popping up requiring more Deficit Spending. You do it as quickly as possible and to do that you Increase Taxes. No exceptions.

Maybe you should pay attention to how tax increases have affected downturn economies in the past. Take California in 1992. Takes were raised at the end of the recession to cover a budget deficit. The tax increases netted less the half the projected revenue the first year and revenue actually dropped the second year after the increases went into affect. Add in that these tax increases causes the CA economy to stay in a recession for 12+ months after the rest of the nation had come out of it.

All tax increases will due in the current economy is suck necessary capital out of the economy and hold off any economic recovery.

 

[Hacp]

Why do you need a commision to figure out how to reduce the national debt? This is typical government waste. The path to paying the debt is easy. Just cut spending!

 

[Vic]

Why do you need a commision to figure out how to reduce the national debt? This is typical government waste. The path to paying the debt is easy. Just cut spending!

Cut which spending?

 

[dmcowen674]

Why do you need a commision to figure out how to reduce the national debt? This is typical government waste. The path to paying the debt is easy. Just cut spending!

Yeah like Bush did for 8 years

 

[Hayabusa Rider]

Wait, this gets a commission, but health care can't get a panel of experts for reform?

Hmmm... Tax increases and health care. I guess we know what has priority.

I suppose everyone knows that this won't decrease the deficit, it's just another source of money. This will go to bring it down? Yeah, like my Social Security tax is going in the lock box.