Oof: CBO says Boehner’s bill would save less than $1T over 10 years — and just $1 billion this year; Update: Boehner rewriting bill

posted at 6:40 pm on July 26, 2011 by Allahpundit

Well, so much for that last post. From Table 3 of the CBO’s new scorecard, eyeball the bottom line:

In return for a $1 trillion debt-ceiling increase, and after a promise of $1.2 trillion in cuts, we get … $850 billion in actual savings over 10 years and just $1 billion(!) this year, which plays directly into conservative fears of backloaded deficit reduction that future Congresses will end up canceling. In fairness, as Politico notes, the savings would be $122 billion higher if not for the fact that CBO readjusted its baseline after Obama’s and Boehner’s deal on the 2011 budget, but of course the savings in that deal also fell famously short of conservative expectations. How do you sell 218 Republicans on this deal when they’re still haunted by that one?

Cantor insists that they can still get the votes, partly because more Republicans have become convinced that hitting the ceiling really would jolt the already fragile recovery. Whether that’s still true after this, I don’t know. Frankly, this is probably the best pitch the leadership could offer at this point.

Update: Boehner’s office says they’ll rewrite the bill to make sure that the amount of savings matches the amount of the debt-ceiling increase.

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Clean house -the ruling class has failed America.

Don L on July 26, 2011 at 6:42 PM

The ENTIRE GOP leadership should RESIGN immediately.

They are complete sellouts.

PappyD61 on July 26, 2011 at 6:43 PM

Status Quo. Boehner is a joke. John Campbell just said on Hugh Hewitt he was going to vote against this sham. I trust Campbell more than Boehner. Back to the drawing board.

jawkneemusic on July 26, 2011 at 6:43 PM

Boehner is a liar.

silvernana on July 26, 2011 at 6:44 PM

cripe…can we get any real cuts in DC???

=========

dr k says it will be suicidal if the gop doesn’t pass this…

cmsinaz on July 26, 2011 at 6:44 PM

FAIL!!!

What happened to cuts > the increase in the debt ceiling?

This is a GOP cave.

Boehner has just thrown away the last chance of the Republican Whig Party.

CatoRenasci on July 26, 2011 at 6:45 PM

Term limits on Congress: Best idea or bestest idea?

mythicknight on July 26, 2011 at 6:45 PM

I think it’s time for a break for the evening. Ironing sounds more interesting that this mess.

I still think Boehner is doing what he feels is right, what he feels is the best he can do. No one likes the plan, I don’t even think he does but I don’t believe he’s trying to “screw” us and I don’t believe he’s in cahoots with the Democrats. I know that’s not a popular opinion on this board.

gophergirl on July 26, 2011 at 6:45 PM

Boehner should Cry, and then step down from Leadership. Then cry some more.

portlandon on July 26, 2011 at 6:45 PM

So we’re spending 1.5 Trillion more than we have each year, piling onto our 14 trillion debt. And we’re going to address that by spending almost 1 trillion less than we were going to over ten years.

Got it.

Here’s an idea: create a new litmus test for House candidates. If they don’t pledge not to vote for Boehner next year, they get primary-ed.

HitNRun on July 26, 2011 at 6:45 PM

So $1 billion in deficit reduction this year is all we’re actually guaranteed.

In exchange, we give Obama about $1 trillion in immediate debt increase.

What a deal!

amerpundit on July 26, 2011 at 6:46 PM

breaking, FNC … They do NOT have the votes in the House, atm.
Going to have to retool and try again, I guess.

pambi on July 26, 2011 at 6:47 PM

amerpundit on July 26, 2011 at 6:46 PM

*sigh*

epic fail

cmsinaz on July 26, 2011 at 6:47 PM

Boehner Spokesman to NRO: Staffers are now re-writing the legislation.

amerpundit on July 26, 2011 at 6:47 PM

This would still have to pass the Senate would it?

Dr Evil on July 26, 2011 at 6:48 PM

Term limits on Congress: Best idea or bestest idea?

mythicknight on July 26, 2011 at 6:45 PM

Sounds good on the surface, but imagine what we would get with a House full of lame ducks.

Ronnie on July 26, 2011 at 6:48 PM

I feared as much.

Ah well. The only real consideration now is whether or not we get to cram this down his throat one more time before the 2012 elections.

I say go for it. Pass the Boehner plan.

KingGold on July 26, 2011 at 6:48 PM

Everybody calm down. We can get everything we want in 2012/2013.

faraway on July 26, 2011 at 6:48 PM

As written, CCB is a pipe dream even in 2013.

I think people vastly overestimate how easy it will be to get 290(!) votes in the House and 67(!) votes in the Senate with the BBA as written.

Getting that many seats means destroying democrats in their strongholds during an election year with higher turnout.

If it happens, then the sky’s the limit as far as conservative dream legislation is concerned. But a caucus that size would be insane.

And you they won’t be able rely on Dem votes if they don’t hit those magic numbers. If the GOP does make big gains, as was the case in 2010, those gains will occur primarily in purple districts/states were blue dogs are. Leaving liberals in safe blue districts/states to oppose you in Congress. The bigger the gains, the smaller the crossovers. So if they’re at 280 or 65, don’t expect aisle-crossing. Especially with Lieberman gone and (in a good GOP year) likely Manchin and Nelson gone too.

Trent1289 on July 26, 2011 at 6:48 PM

There was never any “cuts” in spending…

… only a minor decrease in the amount of future spending to add to our current debt.

Why is this so hard for everyone to understand…?

Seven Percent Solution on July 26, 2011 at 6:48 PM

“The GOP will Betray You.”

-True-King

(I’m starting to really think he is right.)

portlandon on July 26, 2011 at 6:49 PM

will something truly catastrophic happen if we don’t pass this ceiling? the markets are ok dear leader aka the boy who cried wolf is already reassuring the banks…let aug 2 come and go and get that C C B back on the table

cmsinaz on July 26, 2011 at 6:49 PM

Sooooooooooo…why are The Emperor and Harry Reid against this?

NickDeringer on July 26, 2011 at 6:50 PM

that’s some great work there./

rob verdi on July 26, 2011 at 6:50 PM

Update: Boehner’s office says they’ll rewrite the bill to make sure that the amount of savings matches the amount of the debt-ceiling increase.

i should say so

cmsinaz on July 26, 2011 at 6:50 PM

They have a plan…
it passed the house already.

Un-table it and put it to a VOTE in the Senate, Harry Reid and hope to GOD they save your treasonous ass…

golfmann on July 26, 2011 at 6:51 PM

I just heard them say on Fox news that this bill saves 1.1 trillion in the next 10 years.

I think the hard liners are going to screw around and hand Obama a victory. I really do. If they can not rewrite this bill to get more votes…then the Reid plan might pass.

It is amazing how often people who yack about loyalty are willing to cross the aisle and vote along side the Democrats just so long as they can stick it to their own leadership in the process.

Terrye on July 26, 2011 at 6:51 PM

This would still have to pass the Senate would it?

Dr Evil on July 26, 2011 at 6:48 PM

Yup, and Dingy has already indicated that it’s DOA.

jawkneemusic on July 26, 2011 at 6:52 PM

AH,hahahahahaha!
As predicted by nearly everyone…

Boehner is horrible. He has to be replaced.

james23 on July 26, 2011 at 6:52 PM

Update: Boehner’s office says they’ll rewrite the bill to make sure that the amount of savings matches the amount of the debt-ceiling increase.

Atleast that is better than “We have to pass it to know what is in it.”

If “Leadership” can’t even write a bill up correctly, what else are they screwing up?

It’s like watching the Three Stooges Boehner/Cantor/McConnell.

portlandon on July 26, 2011 at 6:52 PM

Terrye on July 26, 2011 at 6:51 PM

$1.1 trillion over 10 years, or $110 billion per year. We have a $1.65 trillion deficit.

Plus, those cuts aren’t guaranteed. If a future Congress, say in 2015, votes for higher spending…bye-bye cuts.

amerpundit on July 26, 2011 at 6:53 PM

…then the Reid plan might pass.

I don’t think it will pass in the House. Apparently his plan is an even bigger sham than this one.

jawkneemusic on July 26, 2011 at 6:53 PM

Freakin’ Idiots running things.
We should default. There should be no bill at all.
We deserve to.
Nobody knows what they’re doing.

bridgetown on July 26, 2011 at 6:54 PM

Yup, and Dingy has already indicated that it’s DOA.

jawkneemusic on July 26, 2011 at 6:52 PM

Great! Pass it and make them reject it. The public is getting pretty sick of this. Hang this around their necks….

sandee on July 26, 2011 at 6:54 PM

will something truly catastrophic happen if we don’t pass this ceiling?

cmsinaz on July 26, 2011 at 6:49 PM

At these numbers, I think something truly catastrophic will happen if we do pass this deal.

They can fool the public, but they can’t fool the bond market. If they pass this deal – 1 trillion cut across 10 years, which basically means we’ve resolved to only borrow 14 trillion over that time instead of 15 — the US credit rating is getting downgraded.

HitNRun on July 26, 2011 at 6:55 PM

Good grief.

Weight of Glory on July 26, 2011 at 6:55 PM

Great! Pass it and make them reject it. The public is getting pretty sick of this. Hang this around their necks….

sandee on July 26, 2011 at 6:54 PM

I supposed you’re right.

jawkneemusic on July 26, 2011 at 6:55 PM

which plays directly into conservative fears of backloaded deficit reduction that future Congresses will end up canceling.

No Shit!

Close it down!

GarandFan on July 26, 2011 at 6:56 PM

Our credit rating is still getting downgraded, no matter which plan ultimately gets passed. None of them are anything more than a blank check with a couple tattered strings attached.

BadgerHawk on July 26, 2011 at 6:56 PM

None of the plans with any chance of passing both houses, I should say.

BadgerHawk on July 26, 2011 at 6:57 PM

Hey, leave it alone. Stand by what you sent to Dingy. You did your job. Go home and go to bed. Let the Obamanistas squirm. You need to know, we’re fed up.

PaCadle on July 26, 2011 at 6:57 PM

All they have to do is cancel the planned mission to Pandora and the building of the death star then count it as a cut in spending. That would save 18 trillion right there.

tjexcite on July 26, 2011 at 6:57 PM

then the Reid plan might pass.

Terrye on July 26, 2011 at 6:51 PM

for the love of Mike, the Reid Plan has ZERO chance of passing the House, and will be filibustered in the Senate.

james23 on July 26, 2011 at 6:57 PM

will something truly catastrophic happen if we don’t pass this ceiling?

cmsinaz on July 26, 2011 at 6:49 PM

Well, the GOP will inevitably get the blame for starving Grandma and small Children. Look we all know this is Political. Because we only control the House right now we can’t do what we would like. The aim here is to take back the Presidency and/or the Senate in 2012. If we don’t it won’t matter what happens here.

sandee on July 26, 2011 at 6:58 PM

HitNRun on July 26, 2011 at 6:55 PM

i think we are going to get downgraded no matter what happens at this point..

cmsinaz on July 26, 2011 at 6:58 PM

jolt the already fragile recovery

LOL!!!!

winston on July 26, 2011 at 6:58 PM

Can somebody please retire this dottering old establishment repub so we can pinch-hit with a heavy hitter?

I’ve Said this at least 3 times today……BONER WILL GET FLEECED.

He’s not the right man for the friggin’ job.

WE NEED A NEGOTIATOR NOT A HACK LOOKING FOR A QUICK EXIT.

Tim_CA on July 26, 2011 at 6:59 PM

Cantor insists that they can still get the votes, partly because more Republicans have become convinced that hitting the ceiling really would jolt the already fragile recovery.

We’re in a recovery??????? REALLY?

Aggie85 on July 26, 2011 at 7:00 PM

how does even a balanced budget amendment save us from these a$$hats when all they have to do is tax us into oblivion?

god save us from our government.

DrW on July 26, 2011 at 7:00 PM

Obama has played you people like a drum. You are shooting your own side. Idiots.

faraway on July 26, 2011 at 7:00 PM

dr k says it will be suicidal if the gop doesn’t pass this…

cmsinaz on July 26, 2011 at 6:44 PM

It will be suicidal if they do.

FloatingRock on July 26, 2011 at 7:01 PM

sandee on July 26, 2011 at 6:58 PM

true

cmsinaz on July 26, 2011 at 7:01 PM

i think we are going to get downgraded no matter what happens at this point..

cmsinaz on July 26, 2011 at 6:58 PM

Given how many “Republicans” are throwing CCB under the bus rather than forcing Democrats to make themselves uncomfortable voting against it, you are, practically speaking, correct.

HitNRun on July 26, 2011 at 7:02 PM

FloatingRock on July 26, 2011 at 7:01 PM

i think i need another drink

cmsinaz on July 26, 2011 at 7:02 PM

Was Boehner trying to get this passed before the CBO scored it. I am really disappointed. I knew the chances of the GOP screwing us was great. The only reason this bill would of died in the Senate was the timetables. I think John just let the Tea Partiers know this is not the hill that he wants to fight for. Zero has no plan, the house passed theirs make that statement loud and clear. Go around the LSM the people will listen. Nope they won’t do that.

Brat4life on July 26, 2011 at 7:02 PM

Who thought anything else?

These people want to screw you (sans lube) and have you thank them for it.

Let it burn.

Aquateen Hungerforce on July 26, 2011 at 7:02 PM

Obama has played you people like a drum. You are shooting your own side. Idiots.

faraway on July 26, 2011 at 7:00 PM

You’re sooooo right….let’s all join hands and dance behind boner’s great deal.

Tim_CA on July 26, 2011 at 7:03 PM

i think i need another drink

cmsinaz on July 26, 2011 at 7:02 PM

I’m with you… Maybe it will help my migraine…

sandee on July 26, 2011 at 7:03 PM

If they can not rewrite this bill to get more votes…then the Reid plan might pass.

Terrye on July 26, 2011 at 6:51 PM

If the lower chamber balks at Boehner’s plan, then Reid’s is DOA. I don’t think AP is right in concluding that the closer we get to Aug. 2 the more appealing Reid’s plan will be. The House can always fall back on CCB/BBA. I still, for the life of me, don’t understand why anything coming out of the Senate, which will die in the House, is seen as more legitimate than something that’s already passed in the House and tabled in the Senate.

Weight of Glory on July 26, 2011 at 7:03 PM

Obama has played you people like a drum. You are shooting your own side. Idiots.

faraway on July 26, 2011 at 7:00 PM

Whats more sad?

Getting played?
or
Getting played by an idiot like Obama?

portlandon on July 26, 2011 at 7:04 PM

Ok, I give up.

Can someone, anyone, tell me WHY would Obama VETO this bill?

Is it true the $1,000,000,000 in spending cut from the $3,600,000,000,000 2012 budget is just too much?

Freddy on July 26, 2011 at 7:04 PM

I think they are going back to the first big deal that Boehner walked out on because Obama asked for $400 billion more in revenues.

windansea on July 26, 2011 at 7:05 PM

“The GOP will Betray You.”

-True-King

(I’m starting to really think he is right.)

portlandon on July 26, 2011 at 6:49 PM

Well, duh. Ron Paul’s been saying that for two decades, and it keeps on being correct.

Inkblots on July 26, 2011 at 7:05 PM

So downgrade us already. Cut us off. It’s obvious the customer isn’t capable of being in charge of his own credit limit.

Ronnie on July 26, 2011 at 7:05 PM

What this Congress says will happen in 10 years is irrelevant and silly to consider. Anyone with a brain knows that none of these “future cuts” will stick. Future Congress’ can simply just ignore them or dismiss them with a single sentence.

What is needed NOW are drastic cuts to a number of major programs and money-sinks and serious entitlement reform.

Whack half or more of Depts of Interior, Education, DHS (Homeland and Health Services), repeal Obamacare and gut the EPA. Then get out a second piece of paper and fill that with current budget cuts across the rest of the federal government.

Serious cuts must happen, and they have to happen NOW, I’m sick of the same ole – “We’ll glad cut things Tuesday if you give us a trillion or two today.”

With no serious cuts, I say let the deadline come and let’s have a crash program to cut 40 cents out of every federal budget dollar.

Jason Coleman on July 26, 2011 at 7:05 PM

Be patient. Save your rage for Obama in Nov 2012.

faraway on July 26, 2011 at 7:05 PM

This would still have to pass the Senate would it?

Dr Evil on July 26, 2011 at 6:48 PM

Yup, and Dingy has already indicated that it’s DOA.

jawkneemusic on July 26, 2011 at 6:52 PM

None of the plans with any chance of passing both houses, I should say.

BadgerHawk on July 26, 2011 at 6:57 PM

All the bill writing, may be fruitless exercises from here on out. Boehner got CCB passed it’s sitting in the Senate. Let Reid send his Bill to the house. If they really don’t want to ruin the markets, they will send Boehner something that is passable in the house. Otherwise we just hold on tight and the cuts happen when the debt ceiling isn’t raised. Obama will have to prioritize essential vs non essential. The cuts happen automatically, he can only pay the bills he has money to pay for. The Democrats get the credit. The House passed CCB if the Democrats turned their noses up at fiscal responsibility who’s fault is that?

I was watching Neil Cavuto this morning, he thinks the President wants to intentionally shut down the government – just to blame the Republicans. He’s trying to relive 1995 yeah the only problem with that is everyone knows what he’s trying to do so it’s a political ploy not real. He doesn’t care who it hurts if he thinks it helps him politically.

Dr Evil on July 26, 2011 at 7:06 PM

Frankly, this is probably the best pitch the leadership could offer at this point.

It’s always been the best offer. ‘Negotiating’ with Obama/Reid was never going anywhere. Baby steps for now. Giant steps come later.

Buy Danish on July 26, 2011 at 7:06 PM

Be patient. Save your rage for Obama in Nov 2012.

faraway on July 26, 2011 at 7:05 PM

Exactly.

sandee on July 26, 2011 at 7:06 PM

I know this bill sucks, but if we die on this hill, Obama probably gets re-elected because he has someone else he can blame for the bad economy. Pass this bill, toss it in his lap and make him own it.

It’s like we’re down early in the game with our leadoff hitter up with nobody on base and we’re expecting him to hit a three-run homer. Let’s take a single here, a single there and stay in the game for 2012 when it really counts. When we have the presidency we can swing for the fences.

JohnInCA on July 26, 2011 at 7:07 PM

Freddy on July 26, 2011 at 7:04 PM

No the veto comes from this bill not taking us past 2013.

Brat4life on July 26, 2011 at 7:07 PM

Be patient. Save your rage for Obama in Nov 2012.

faraway on July 26, 2011 at 7:05 PM

Exactly.

sandee on July 26, 2011 at 7:06 PM

No worries….my rage is limitless….there’s plenty for the idiots in both parties.

Tim_CA on July 26, 2011 at 7:08 PM

This is what happens when you try to negotiate with the Left…

… How many times have I said that everything that comes out of Obomwa’s mouth is a lie?

You can’t trust them, they will never compromise, they will use this crisis as the ‘Mother of all Crisis’…

… It’s already starting. Just listen to the media. Before too long, the Treasury Department will delay SS checks a few days or a week, at the same time running ads blaming the GOP for everything the Democrats have created and caused.

The GOP needs to understand this is nuclear war, not checkers…

… Start defunding all agencies, departments, bureaucracies, and pet projects of the Democrats. Nothing else moves through the House.

SHUT EVERYTHING DOWN…!!!

Seven Percent Solution on July 26, 2011 at 7:09 PM

Well that was unexpected …

I assume Spkr Boehner doesn’t know who is trying to scam.

tarpon on July 26, 2011 at 7:09 PM

Understand: Obama wants to raise taxes now because he needs the $$ to pay off those who he needs to support him to win in 2012. The Stimulus paid off those who supported him in 2008–after all, how many new and improved roads and bridges have you actually SEEN in the last 3 years? That’s right. NONE. Why? Because our $$ went to his cronies. Same thing here. He’s run out of $$ and needs more of ours.

He’s a thief and a liar!

UnderstandingisPower on July 26, 2011 at 7:10 PM

Big sigh. Boehner keeps proving why so many of us were not enthusiastic about him as speaker. Rather than express my innermost thoughts I’ll just say the guy lacks competence and leave it at that.

JimP on July 26, 2011 at 7:10 PM

No worries….my rage is limitless….there’s plenty for the idiots in both parties.

Tim_CA on July 26, 2011 at 7:08 PM

lol

faraway on July 26, 2011 at 7:10 PM

SHUT EVERYTHING DOWN…!!!

Seven Percent Solution on July 26, 2011 at 7:09 PM

im just about there myself…

cmsinaz on July 26, 2011 at 7:10 PM

i think we are going to get downgraded no matter what happens at this point..

cmsinaz on July 26, 2011 at 6:58 PM

I seriously don’t understand the big to-do over getting downgraded.

Let’s face a fact or two, the U.S. will still be the absolute best option even after a downgrade. We’ll go from being the #1 most desirable government in the world to put your money into (if you’re in that game) to being. . . . the #1 most desirable government to put your money into.

The “downgrade” is actually meaningless. Higher rates come no matter what.

Let’s hit the ceiling and drop back to Earth and start cutting.

Jason Coleman on July 26, 2011 at 7:10 PM

If Obama gets cash now for Obama and Harry Reid’s worthless promise of spending cuts in the future, the Republicans will have once again proved themselves useless.

In these days of the Tea Party I wouldn’t want to be running for reelection in 2012 as a useless Republican.

RJL on July 26, 2011 at 7:11 PM

I thought Obama’s own debt commission said we need to cut 4 trillion over 10 years or there would be “serious consequences”.

JavelinaBomb on July 26, 2011 at 7:11 PM

$1 Billion deficit reduction in 2012?

Please… someone tell me this is a joke, right? Obviously Obumbles slipped his own figures into Boner’s budget, right? I mean, come-on, this has gotta be a long-time Washington insider joke, right? Maybe an early birthday gift from Boner to Obumbles, or the RINO’s idea of DEEP-DEEP cuts.

Seriously, this is a joke, right?

Ogabe on July 26, 2011 at 7:11 PM

We are generating a 1.6 Trillion dollar per year deficit. If nothing is done in ten years we will have generated a 16 trillion dollar deficit to add to our old 14 trillion dollar deficit, which is 30 trillion dollars in debt, and that doesn’t count the unfunded liabilities of Social Security and Medicare etc., etc. And the best the Republican leadership can do, after fighting as hard as they can, is 1 Trillion dollars in savings over this period? That’s not even a 3 percent cut! And they are proud of that? While the First Law of holes is to stop digging, the Second Law is that digging slower doesn’t help much either.

Fred 2 on July 26, 2011 at 7:12 PM

The Spelunker of the House doing what he does best…

Gohawgs on July 26, 2011 at 7:12 PM

I urge everyone to watch the clip of Dr. K on special report tonight. He nails it. The prize is Nov 2012. Right now Obama owns the crappy economy and the 9.2% unemployment rate. Anything republicans do that causes disruption in the economy right now will let Obama pin it on them and takes away our biggest weapon for 2012, which is making him wear the poor economy around his neck.

JohnInCA on July 26, 2011 at 7:13 PM

THE PISSIN’ IN A WHIRLWIND BILL!!

That’s what we should call Boehners’ plan.

I’m calling my GOP Congressman’s office tomorrow and tell him that Boehner and the ENTIRE GOP “leadership” should resign immediately. It’s obvious they are incapable of effectively communicating Conservative principles.

They are holdovers from the BUSH era of silent emasculation and they NEED TO BE REPLACED.

Have we not figured that out yet?

PappyD61 on July 26, 2011 at 7:13 PM

“The GOP will Betray You.”

-True-King

(I’m starting to really think he is right.)

portlandon on July 26, 2011 at 6:49 PM

Yep! I am thinking of asking True King for permission to trademark that phrase and possibly print T-shirts in time for 2012 as we clean house.

No more RINOs in leadership, period! They are welcome to sit at the back of the bus!

TheRightMan on July 26, 2011 at 7:13 PM

Benedict Boehner.

bloviator on July 26, 2011 at 7:13 PM

Looks a lot like the last Boner deal.

Valiant on July 26, 2011 at 7:13 PM

That should have been, “that’s not even a 4 percent cut!” in the overall deficit. Let’s not exaggerate how pitiful this deal is, after all.

Fred 2 on July 26, 2011 at 7:14 PM

$1billion……………….ONE????????????

RUNNEM ALL OUTTA DC ON A FRIGGIN RAIL!!!!!!

Katfish on July 26, 2011 at 7:16 PM

Jim DeMint via email…

House Speaker John Boehner (R-OH) has abandoned the Cut-Cap-Balance Act and is now pushing a new plan that is nearly identical to the one proposed by Senate Majority Leader Harry Reid (D-NV).

The Boehner-Reid plan gives the President an immediate increase in the debt limit and only promises to cut spending in the future. It violates all three principles of the Cut-Cap-Balance Pledge because it does not substantially cut current spending, it does not truly cap future spending, and it does not require the passage of a strong Balanced Budget Amendment before raising the debt limit.

In short, I oppose the Boehner-Reid plan because it won’t balance the budget and stop the debt that is destroying our country.

The Boehner-Reid Plan

You will hear many claims about this plan over the next few days as it is pushed through the House and Senate. Some of these claims will be true, but many will be false. Here are the facts. The Boehner-Reid plan:

Provides two increases in the debt limit — $900 billion and $1.6 trillion — totaling $2.5 trillion. It gives the President an immediate $900 billion increase given that Congress does not vote to disapprove it. It gives the President another $1.6 trillion increase next year if a bill written by a new Super Committee passes both houses and becomes law.
Reduces spending by only $1.2 trillion over the next ten years. This amount won’t even come close to balancing the budget, as the debt is expected to grow by as much as $10 trillion over the next decade. The plan also reduces spending by only $6 billion in 2012. Considering that our government currently spends $10 billion a day, $6 billion is far too little to cut over the first year of the plan.
Calls for a vote on the Balanced Budget Amendment but does not require its passage. Without passage of a strong Balanced Budget Amendment, Congress will never break its addiction to spending.
Makes it virtually impossible to stop the debt limit from going up. The debt ceiling increases can only be stopped if Congress passes a resolution of disapproval and then votes to override the President’s veto with two-thirds support in the House and Senate.
Creates a new, 12-member Super Committee to write another “grand bargain” to reduce the deficit by at least $1.6 trillion. It does not, however, prohibit the Super Committee from writing a bill to raise taxes and destroy jobs. The bill can then be fast-tracked through the House and Senate with no amendments.
Why It Should Be Rejected

After reviewing the details of Boehner-Reid plan, I cannot support it.

It won’t balance the budget and stop the debt. Even if the cuts called for in the plan were real, the debt will still increase by $7 trillion over the next ten years.
It won’t protect our AAA bond rating. According to financial reports, this plan will not reduce long-term spending by enough to prevent a downgrade. If we lose our AAA rating, it will create higher interest rates and cause our debt to grow even faster.
It will likely result in higher taxes that will destroy even more jobs. The unemployment rate is over 9 percent. We cannot afford to lose more jobs when so many Americans are struggling to find work.
There are some in my party who think I should ignore the flaws of the Boehner-Reid plan, bite my tongue, and support my party’s leaders. If I thought this were a political game, that might make sense. But the future of our country is at stake, I don’t believe this plan will save it, and I have a moral obligation to say so.

The Way Forward

Fortunately, there is a much better solution.

The Cut-Cap-Balance Act would balance the budget, stop the debt, and protect our AAA bond rating. This legislation passed the House with bipartisan support but was blocked by Democrats in the Senate.

The votes in the Senate for Cut-Cap-Balance are there if Republicans stand firm. 23 Democrats in the Senate have expressed support for the Balanced Budget Amendment at some point in their careers. They’re blocking it now because they believe Republicans will blink and agree to something much less.

And that’s exactly what will happen if the Boehner-Reid plan is passed. It gives the big spenders in Washington everything they wanted — an increase in the debt limit, phony spending cuts, and a mechanism to pass tax increases.

Gohawgs on July 26, 2011 at 7:16 PM

Anything republicans do that causes disruption in the economy right now will let Obama pin it on them and takes away our biggest weapon for 2012, which is making him wear the poor economy around his neck.

JohnInCA on July 26, 2011 at 7:13 PM

That ship has long sailed. We are past caring about the politics – we care about saving our country!

The know-it-alls also said the “extremist” Tea Party would lead to great losses and squander the GOP’s chances in 2010. Did that happen?

Why don’t our politicians worry about saving our country first and let the politics play out?

TheRightMan on July 26, 2011 at 7:17 PM

NOW can we say the President wants to use default to blame the GOP?

Who isn’t compromising? Obama is.

For libs only politics matters.

Speakup on July 26, 2011 at 7:17 PM

You know of course that Obama wants the Country to default.He is just waiting to be able along with his willing media to blame it all on the evil Republicans. That is why he is against any plan, except of course Reids plan, which is not even on paper. It’s all about being re-elected.

The general populace can not be trusted to see this and to put blame where it belongs. It’s all about 4 more years. We can’t survive 4 more years of the administration.Do I like this plan? Not what I want. I’m afraid at this time it is all I’m going to get. Remember it is up again in Feb.

sandee on July 26, 2011 at 7:18 PM

Who isn’t compromising? Obama isn’t.

Speakup on July 26, 2011 at 7:19 PM

And the best the Republican leadership can do, after fighting as hard as they can, is 1 Trillion dollars in savings over this period?

Fred 2 on July 26, 2011 at 7:12 PM

Yes, this is the best they can do right now. It won’t be the best they can do if we win the presidency in 2012. With a conservative president, we can push for huge cuts then.

This bill pockets a little and keeps us in the game until Nov 2012. If we run over the cliff with Obama we share the blame for the poor economy, he gets re-elected and then how much in cuts do you think we will get?

JohnInCA on July 26, 2011 at 7:20 PM

Gohawgs on July 26, 2011 at 7:16 PM

Excellent email from Demint and eloquently put!

Thanks for posting it, Gohawgs.

TheRightMan on July 26, 2011 at 7:20 PM

Update: Boehner’s office says they’ll rewrite the bill to make sure that the amount of savings matches the amount of the debt-ceiling increase.

Translation: Oops.. you caught us. Guess we’ll have to fix it.

So disappointing. I even said Boehner did well last night in his response.

JellyToast on July 26, 2011 at 7:20 PM

This is twice now that this guy has headed up an effort that turns out to be nothing but smoke and mirrors. And he’s leading the party…why?

Benaiah on July 26, 2011 at 7:21 PM

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