The debt reduction committee: a likely disaster

[nonlnear]

I'm cheering for the SuperZOMGCommittee's failure. Sequestration sounds like the only way we're ever going to get defense cuts (even if they aren't nearly big enough), so bring it on. And it's not like even a "successful" SuperLobbyistBuddiesClub is going to cut the deficit any more than the sequestration amount anyways, so who gives a rats ass if they manage to find a plan that's more agreeable to their donors?

 

[Fern]

Bunch of crap with your whiny rhetoric trying to demonize the progressives (they call the Republican evil, that's evil!) The Progressives made the People's Budget - it balances it without the huge 'austerity' cuts' that help complete the process of shifting wealth to the top, first put the money at the top, create massive debt, then cut off spending for the people. Starve the beast. Your saying they won't do it is naive and inaccurate IMO.

The "Progressive's People's Budget"?

Bwuhahaha.

We've already discussed that joke of a plan - all tax increases and no spending cuts!

http://forums.anandtech.com/showthread.php?t=2177025&highlight=progressive+caucus+budget

Now who's "naive"?

Fern

 

[senseamp]

Obama is the one who put Medicare cuts on the table in the debt ceiling negotiations. You keep confusing what's good for Democrats, with what Obama's agenda actually is.

The latest thing Republicans will do is pass Medicare and Defense cuts and send them to Obama. The latest thing Obama will do is veto those cuts.
That's what voters will remember, not who put what into the trigger bill several months before.
Plus the second the triggers kick in and Obama gets his debt ceiling increase, he can say that these cuts are endangering troops and seniors and GOP needs to send him a bill to undo them, fiscal impact be damned. He can say the GOP is putting billionaires/jet owners/whatever above our troops and seniors getting their Medicare.Then the onus is going to be on the GOP to do something. The defense and big health industry will back Obama on this, so will the American people. If he's willing to man up, that is.

 

[Nebor]

The latest thing Republicans will do is pass Medicare and Defense cuts and send them to Obama. The latest thing Obama will do is veto those cuts.
That's what voters will remember, not who put what into the trigger bill several months before.
Plus the second the triggers kick in and Obama gets his debt ceiling increase, he can say that these cuts are endangering troops and seniors and GOP needs to send him a bill to undo them, fiscal impact be damned. He can say the GOP is putting billionaires/jet owners/whatever above our troops and seniors getting their Medicare.Then the onus is going to be on the GOP to do something. The defense and big health industry will back Obama on this, so will the American people. If he's willing to man up, that is.

Again, you have a lot of very clever strategies, but the Democrats never actually DO any of them. Maybe if you shave your head and pick up a cajun accent they'll listen to you?

 

[Double Trouble]

The "Progressive's People's Budget"?

Bwuhahaha.

We've already discussed that joke of a plan - all tax increases and no spending cuts!

http://forums.anandtech.com/showthread.php?t=2177025&highlight=progressive+caucus+budget

Now who's "naive"?

Fern

You have to admit, at least there's some honesty in the name of the plan, it sounds exactly like what it is, something straight out of some revolutionary "people's republic" propaganda.

Craig and some of his fellow clowns are particularly amusing today.

This committee will fail, but it has nothing to do with Craig's standard theme of evil republicans and wonderful heroic progressives. It has to do with the fact that none of the politicians has the will to actually make the cuts needed to get things turned around. They are all desperately trying to find new ways to kick the can down the road. That's how it shall continue to be, until the can gets so big it can't be kicked anymore.

 

[Doppel]

This was never going to be an effective compromise. It will be more political theater and as the deadline gets closer more stupid sh*t from both sides of the aisle.

 

[PokerGuy]

This was never going to be an effective compromise. It will be more political theater and as the deadline gets closer more stupid sh*t from both sides of the aisle.

You're right. They had to find a way for both sides to "save face", while at the same time not accomplishing anything, so this is what they came up with. It's a futile effort.

 

[pcgeek11]

The setup of the committee: three each from each party in the house and the Senate.

Nine have been named, waiting for Nancy Pelosi.

Republicans promised to appoint people who would not agree to any tax increases. They include people like the uber-ideoluge former President of the Club for Growth.

If Democrats appoint good people, it will be a deadlock. With a deadlock, triggers take effect, which aren't the worst thing - they're the only likely change for big defense cuts.

If one Democrat compromises with six far-right Republicans, the Republicans win.

Inexplicably, one of Reid's appointees is Max Baucus - one of the worst, corporatist Senators.

So IMO, this thing is doomed now. Baucus at least will vote with Republicans, and that's that.

That makes the only chance being it gets blocked in the Senate when the proposal is put up for a vote - and it's likely they can get 10 corporatist Dems to go along there.

Obama veto the thing? After he's let Congress do what it wants, after it passed a Democratic Senate? In the middle of a re-election trying for 'centrists'? That's a joke.

That's my view of where this is going at this time. I'd have preferred a deadlock, given the Republicans are very unlikely to agree to anything decent.

The Tea Party is a bit of a wildcard - it's sad to look for them to block a bill.

So what you are saying is they are both parties are appointing people that will not compromise... Seems par for the course.

 

[EagleKeeper]

Republicans likely won't agree to any revenue increases. Democrats (and some Republicans) likely won't agree to any entitlement cuts.

The automatic cuts will probably be all we get.

And that was all they originally expected and wanted.

This way, each can point the finger legitimently at the other.

Same thing that was originally intended with the original BRAC. let it come out of committee and and up/done vote; no tweaking.

No tough decisions have to be made and they escape out of the crisis.

 

[Thump553]

If this process results in anything but more gridlock and the automatic cuts I'll be flabbergasted.

I have little to no expectations about any results from this committee. It was a way of punting the debt ceiling bill, nothing more.

 

[ichy]

EVERY sane, non-partisan expert who's looked at the budget has said the same thing. We need higher revenues and some sort of cuts to entitlement spending. We take in 1.5 trillion dollars in taxes, spend 2.5 trillion, and the gap is only going to grow. Anyone who thinks we can make up that difference solely by taxing the wealthy, cutting waste/pork or defunding public broadcasting is an idiot. Everyone will have to take a hit, but nobody in power has the guts to say it.

 

[Pens1566]

After seeing these names, I'm convinced the world economy needs to switch from US T-bills to WoW gold as the standard.

 

[ichy]

After seeing these names, I'm convinced the world economy needs to switch from US T-bills to WoW gold as the standard.

We can use ISK!

 

[Ausm]

It's a joke and going to be another dog and pony show that will accomplish jackshit!