So we hit the debt limit...

[alfred russel]

Honestly, I think the cuts are also very minor, and the entitlements thing hasn't actually been proposed, just mentioned in passing verbally. The highest number I've seen is 4T over ten years in reductions, with most of that back-loaded to later years (meaning it's unlikely to happen at all). I'm not impressed at all by these cuts. They're paltry.

Maybe I'd be more enthusiastic if you hadn't pointed out the actual budget to me. 

I hear what you are saying about whether or not the cuts will materialize if they are backloaded, but practically speaking that is the only way to do it. First, we are in a period of economic downturn, so you don't want to cut too much right now. Second, the government is a huge entity and it takes time to downsize.

$4 trillion isn't chump change. Say in 10 years that is $500 billion a year in cuts (since it is backloaded). I think the projected deficit is a bit over $1 trillion that far out. So we are almost cutting it in half, and a deficit of $500 billion or so isn't going to break us.  Also, this isn't the last time budget cuts can be discussed. If you want to balance the budget, you don't have to do so in the next two weeks before we are supposed to default.

[MadImmortalMan]

Well, the gauntlet will be thrown tomorrow.

Leader Cantor Statement in Support of Cut, Cap and Balance

WASHINGTON, D.C. – House Majority Leader Eric Cantor (R-VA) today issued the following statement regarding the White House's veto threat against the Cut, Cap and Balance Act:

"Tomorrow, the House will vote on Cut, Cap and Balance, a common sense proposal that will cut and cap federal spending to ensure that Washington begins to live within its means and put in place a Constitutional balanced budget amendment that will make balancing our budget the rule, not the exception. No one wants to default on our debt, and that is why House Republicans are bringing forth this plan to meet the President's request for a debt limit increase with the necessary safeguards to make sure that we don't continue to kick the can down the road. With millions of Americans out of work, we need to get the economy growing again and control spending here in Washington, and Cut, Cap and Balance is a path forward to do just that. As President Obama has not put forth a plan that can garner 218 votes in the House, I'd caution him against so hastily dismissing Cut, Cap and Balance."

[LaCroix]

Cut, Cap and Balance

catchy. right now there are thousands of letters on their way to d.c. crying out "CUT CPA BALLANCE OR WE FIRE U"

[mongers]

I think slash and burn would be more appropriate description.

[Admiral Yi]

According to a CNN poll 61% of Americans are in favor of a balanced budget amendment.

I wonder if that's the same people who are in favor of reducing the deficit, against touching Social Security, Medicare, or the military. 

[The Minsky Moment]

Well, the gauntlet will be thrown tomorrow.

Leader Cantor Statement in Support of Cut, Cap and Balance

WASHINGTON, D.C. – House Majority Leader Eric Cantor (R-VA) today issued the following statement regarding the White House's veto threat against the Cut, Cap and Balance Act:

"Tomorrow, the House will vote on Cut, Cap and Balance, a common sense proposal that will cut and cap federal spending to ensure that Washington begins to live within its means and put in place a Constitutional balanced budget amendment   . . . 

Someone please tell me he is kidding.

[mongers]

Well, the gauntlet will be thrown tomorrow.

Leader Cantor Statement in Support of Cut, Cap and Balance

WASHINGTON, D.C. – House Majority Leader Eric Cantor (R-VA) today issued the following statement regarding the White House's veto threat against the Cut, Cap and Balance Act:

"Tomorrow, the House will vote on Cut, Cap and Balance, a common sense proposal that will cut and cap federal spending to ensure that Washington begins to live within its means and put in place a Constitutional balanced budget amendment   . . . 

Someone please tell me he is kidding.

How does it feel to find out you live in an asylum ?   

edit:
well at least in a society, some of whose leaders should be in an asylum ?

[Razgovory]

According to a CNN poll 61% of Americans are in favor of a balanced budget amendment.

I wonder if that's the same people who are in favor of reducing the deficit, against touching Social Security, Medicare, or the military. 

Probably.  People like slogans like "Balance the budget!", but when you get down in the details they become less enthusiastic.

I wonder if the "Balanced budget amendment" is going to be the "preserve marriage amendment" of 2012.

[MadImmortalMan]

Someone please tell me he is kidding.

It's been part of the bargaining baseline for some time. You didn't notice?

[Neil]

But if they don't get their federal cheques, there'll be he'll to pay.

[MadImmortalMan]

But if they don't get their federal cheques, there'll be he'll to pay.

If they don't come to some arrangement, there sure as hell better not be any congressmen getting paid.

[CountDeMoney]

...with the necessary safeguards to make sure that we don't continue to kick the can down the road.

But you kicked it down the road 7 times between 2000 and 2008;  only back then it was called "housekeeping".

[CountDeMoney]

Tim Russert with Catkiller Frist, 2006.

Veddy interestink.

http://www.bing.com/videos/watch/video/tax-cuts-and-the-debt-ceiling/6r099vn?cpkey=e10461f7-89e1-415c-aa58-80d1b6f8066e|||

[grumbler]

Tim Russert with Catkiller Frist, 2006.

Veddy interestink.

http://www.bing.com/videos/watch/video/tax-cuts-and-the-debt-ceiling/6r099vn?cpkey=e10461f7-89e1-415c-aa58-80d1b6f8066e|||

No surprises there.  When the republicans had the White House, the principled stand was for increases in the debt ceiling.  When the Democrats have it, the principled stand is against increases in the debt ceiling.  The principle in the Republicans' principled stands is expediency.

[Razgovory]

What's surprising is people still buy it.