Make a deficit deal now
There has even been talk of going over the fiscal cliff to potentially strengthen each side’s bargaining position. Going over the cliff, though, would mean betting the country on the hope that the other side will back down before it is too late. That’s a bet we shouldn’t take. The risk is simply too high. …
But simply punting on the fiscal cliff and continuing to add to the debt would be an even bigger mistake. It would show markets we cannot put our financial house in order. Instead of using this moment as leverage to score political points, our elected leaders should seize the opportunity to finally address the long-term imbalance between government spending and revenue, and to prevent a future debt-induced economic crisis.
What does that alternative look like? We already have the blueprints.
It’s the type of bipartisan package toward which the fiscal commission I co-chaired with former senator Alan Simpson, the Domenici-Rivlin group, the Senate’s “Gang of Six” and the Obama-Boehner negotiations all worked. It’s a package large enough to put the debt on a clear downward path, relative to the economy, and designed well enough to promote, rather than disrupt, economic growth. It’s a package that includes real spending cuts and structural entitlement reforms to make Social Security solvent while slowing the growth of federal health spending while protecting vulnerable populations. And it’s a package that institutes fundamental tax reform that simplifies the code and encourages economic growth by cutting spending in the tax code to reduce rates and generate additional revenue for deficit reduction.
Blowback
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Fluke that. Let ALL the Bush tax cuts expire and spend it all on stuff for the great unwashed. Give them what they voted for.
changer1701 on November 8, 2012 at 10:07 AM
Obama can’t read blueprints.
Kraken on November 8, 2012 at 10:07 AM
I don’t see how the democrats, having just spent an election season mediscaring, are going to touch SS and Medicare. Especially now that Obama doesn’t have to answer to anyone.
Zaggs on November 8, 2012 at 10:08 AM
whatevah, Dem’s don’t care and your a fool to even try.
rob verdi on November 8, 2012 at 10:09 AM
Tempting, but is it a responsible move?
“The Titanic’s going to hit an iceberg anyway, so let’s steer into it!”
eforhan on November 8, 2012 at 10:10 AM
Just posted this under the rubio thread
Heard on radio that folks are asking for bubba to oversee these talks
What were the elections for?
I hope i overhead that wrong
cmsinaz on November 8, 2012 at 10:12 AM
Nope.. Sorry. I’m for tanking the U.S. economy and the fiscal cliff.
Illinidiva on November 8, 2012 at 10:12 AM
Let me tell you what Le Grande Deal Part Deux is going to be:
- The non-defense spending cuts are put off. The defense spending cuts stay.
- The taxes are rejiggered in such a way that over 50% have no net tax liability.
Steve Eggleston on November 8, 2012 at 10:15 AM
People didn’t vote for responsible. Binders and Big Bird were their focus, not the debt. So, I say, give them what they want.
changer1701 on November 8, 2012 at 10:15 AM
Funny thing is, some have speculated that had the Titanic hit the iceberg right on, while still switching the engines to full back, it might not have sunk because only the first couple or 3 holds would have flooded.
Zaggs on November 8, 2012 at 10:16 AM
Considering no matter which direction Dingy Harry and SCOAMF will let us steer, we’ll be hitting the iceberg, I’m of half a mind to say, “RAMMING SPEED!”
Steve Eggleston on November 8, 2012 at 10:16 AM
But I am also of the thinking to let ALL the bush tax cuts expire. Lets face it, expire them for the rich gives only 80 billion a year. Why not add the extra 400 billion by letting everyone else’s tax cuts expire?
Zaggs on November 8, 2012 at 10:17 AM
OWN IT.. CLIFF AND ALL.. YOU WON O..
gatorboy on November 8, 2012 at 10:17 AM
As I said, “RAMMING SPEED!”
Steve Eggleston on November 8, 2012 at 10:17 AM
“Better to continue to demagogue the issue for political advantange”
– Barack Obama and the Democratic Party for the last 30 years.
Obama and Democrats don’t know anything else. “They’re taking away your benefits! They’re pushing Grandma over the cliff!”. They don’t know HOW to be responsible. It’s pitiful!
Paul-Cincy on November 8, 2012 at 10:18 AM
Ha, true! The long gash in the side hurt for sure.
eforhan on November 8, 2012 at 10:18 AM
How can Obama go on TV and talk about the fiscal cliff with ANY credibility? Who believes anything he says? This is going to be rich.
Paul-Cincy on November 8, 2012 at 10:20 AM
For once, I agree. Give the Marxists and the Obamaphone ladies everything they want. Stop saving them from themselves or they’ll never understand the consequences of their philosophy.
The Rogue Tomato on November 8, 2012 at 10:21 AM
Does anyone seriously think Harry Reid and Obama are going to follow sane recommendations? The economic crap storm started yesterday and is just ramping up. Harry Reid and Senate demoncrats haven’t proposed a budget in three years. Obama is clueless on economic issues. I just don’t see how the economic train doesn’t go over the fiscal cliff. And it is a sad time for our kids and grand kids.
rsherwd65 on November 8, 2012 at 10:21 AM
Raise tax rates now.
Let the tax hikes be out in the open. Let Obama voters feel it.
Don’t allow Obama to hide the hikes in gas taxes, carbon taxes, QE, etc.
faraway on November 8, 2012 at 10:22 AM
We went over the cliff on election night. Might as well ride it all the way down…
HotAirian on November 8, 2012 at 10:22 AM
Secret Documentary of Obama 2nd term
faraway on November 8, 2012 at 10:25 AM
The boat’s already hit the iceberg. It’s just a question of who wants to listen to the band.
CurtZHP on November 8, 2012 at 10:25 AM
Let em expire as the first poster said. Pass cap n trade, lets get some carbon taxes in here.
I want Boehner to rubber stamp Obama’s agenda.
America deserves what it voted for. Lets encourage Boehner to comply.
Ca97 on November 8, 2012 at 10:26 AM
If the Titanic had hit the iceberb straight on the ship would not have sunk. The forpeak and foward compartmentys would have been flooded, but not the larger compartments midships that were opened to the sea by sideswiping the berg.
I see no upside for bargining. Republicans will be the class enemies in the media and from the White House no matter how nice we play. The communists in office now need class enemies. Get used to it, fellow conservatives.
NaCly dog on November 8, 2012 at 10:26 AM
Freefall – trailer
faraway on November 8, 2012 at 10:26 AM
They’re screwed no matter what, now. If they can’t pay it, what does it matter if they owe $1 million or $5 million? At some point we’re/they’re going to either have to hit a reset button or move.
The Rogue Tomato on November 8, 2012 at 10:27 AM
I think Simpson-Bowles was a good first step, and it had a chance to pass, but both parties killed it thinking they could get a better deal. Didn’t work.
AngusMc on November 8, 2012 at 10:27 AM
The GOP should just rubber stamp everything and keep repeating, “This isn’t what we stand for, but it’s what the voters said they want.”
The Rogue Tomato on November 8, 2012 at 10:29 AM
Okay, okay so my analogy may not fit (we’ll never know).
Yet, no one’s addressed the key point: Is it the responsible thing to do?
eforhan on November 8, 2012 at 10:31 AM
EXACTLY.
I did my part and emailed Boeher as much yesterday. Encourage all Conservatives to do the same.
Ca97 on November 8, 2012 at 10:34 AM
Yes. It is absolutely responsible to deliver to the voters the undisputed consequences of their choices. In fact, that may be the ONLY way to turn this around.
The Rogue Tomato on November 8, 2012 at 10:36 AM
No, I say left the Dems have what they voted for. All those idiot coal workers who voted for Obama in Penn. let the full force of the EPA rob them of their jobs.
ChunkyLover on November 8, 2012 at 10:37 AM
It almost tragic that Bowles still doe not see that their plan was nothing more than a convenient fiscal “beard” for Obama early on in his first term. Which he promptly wiped off his shoe and walked away from.
This is not going to be re-visited know. Too much “flexibility” in the 2nd term for what he really wants, a 3rd world USA full of a dependent class and a very small middle class if any.
Difficultas_Est_Imperium on November 8, 2012 at 10:41 AM
Don’t just say it. Email or write a letter to Boeher saying as much.
Ca97 on November 8, 2012 at 10:41 AM
The Santa Claus meme is an enormous strawman, and you conservatives can keep repeating it to yourself, but you’ll be contained in the same delusional bubble that led you to believe that Romney was going to get 330 EVs. If you want to be taken seriously, you’re going to have to start acknowledging the good faith of the other side. Everyone right now is clamoring for jobs, not handouts. People want to work. Democrats and the majority of Americans want responsible investments that will allow our country to be strong, not just in the immediate future (see early 2000s, leading up to the crash), but well into the future. We want responsible spending and tax policy. There may be a share of Americans that just want to depend on their neighbors, but number is much closer to 1% than 47%.
Alpha_Male on November 8, 2012 at 10:42 AM
Bullshiite, are we a “democracy” or not? The people have spoken and the people want everything so give it to them, all of it, now. Don’t
Barney Frankpervert the process, do what the people want.Bishop on November 8, 2012 at 10:47 AM
And companies are already laying off people ONLY because Obama was re-elected, and they know they have to let people go in order to survive. So that’s what people voted for? I know this is a long-shot, but I’m guessing these people getting laid off were middle class. I don’t see any rich people getting laid off.
So Dems/Marxists, whether you want to work or not, this is what you voted for. Eat it.
The Rogue Tomato on November 8, 2012 at 10:48 AM
Baloney. People want stuff, and they want others to pay for it.
changer1701 on November 8, 2012 at 10:48 AM
Responsible investments? You mean like The Porklus? Shovel ready! The dozens of failed “Green” companies? Those were responsible.
We’ve had 4 years of Obama’s “responsible investments” and got downgraded and are running trillion-per-year deficits with no end in sight.
To suggest that the Democrat party cares about fiscal responsibility is preposterous.
visions on November 8, 2012 at 10:49 AM
Acknowledge the good faith of the other side? You don’t, so that request is meaningless. If, “Mitt Romney: Not One Of Us”, for example, is “good faith” on your side’s part, I don’t want any part of it.
If people really wanted jobs, they would have turned to Mitt, not Obama. One has shown he understands the conditions necessary, and one has shown repeatedly for the last four years he hasn’t the first clue.
JeffWeimer on November 8, 2012 at 10:52 AM
Like opening up the energy fields that are just sitting there waiting to create more jobs than we have people, and simultaneously weaning ourselves from the middle eastern oil despots who pull our strings.
Wait…what? Crazy talk.
Bishop on November 8, 2012 at 10:53 AM
#1- Good faith? The GOP was shat on by the President and your party the entire first term. The major legislation that took up the bulk of the first term, was done with ZERO GOP votes, and ZERO good faith to work with Republicans.
#2- If people want to work they shouldn’t have voted Democrat.
#3- How can you claim with any sense of reality you want “responsible spending and tax policy”. I about spit out my coffee. I assume you did not say this with a straight face.
The hard reality is, Democrats only understand half the ledger, and even that they fail at. You guys know spending. And then you raise taxes. But this never closes the deficit/debt, because you simply spend more. And then you tax more to compensate…and so you spend more again.
You are the reason I say let all of your agenda pass. I will be a good partner for you. I am advocating we do all of the things your side wants with
resistance. Let’s implement the EXACT agenda you want.
Ca97 on November 8, 2012 at 10:53 AM
Beggars in Spain was prescient, the people want to be Livers.
JeffWeimer on November 8, 2012 at 10:56 AM
I say let it crash, but don’t give them Carbon taxes or any *new* revenue streams that will have to be killed off later. Even though we need to let the crash happen and the economy tank for the next four years or so, you want to leave the ground in place for rebuilding afterwards.
Let the Bush tax cuts expire, and when the D’s bring anything to the house floor to “balance” the cuts, make the cuts broad across everyone, regardless of income, and let the Senate clog it.
Let the sequester happen across the board. Yes, we’ll have to play catch-up militarily at some point in the future, but why not let Zero suffer the political consequences of the sequester he suggested?
Let the house pass a budget, and demand a passed Senate budget as a precondition for raising the debt ceiling. Don’t let the Donks get away with the low-information voter talking point of “we need 60 votes to pass a budget” – BS – they need 51, and they’ve got them. No matter what they pass, the Senate D’s will be doomed for passing it (which is why we’ve been without one for 3 years).
And put Rubio out front now, in a daily press conference while congress is in session. He won’t say anything stupid, and he’ll give “hard news” quotes every day, while zero goes the next four years without one, since he no longer needs to placate the media for his campaign.
“Giving the people what they want” does include a Republican majority in the house, to block stupidity from the other branches – let’s not forget that. It also is a vote for gridlock (on solutions) if the White House and Senate keep demanding poison pills as conditions for negotiation. If we cave and “give the people what they want”, we *will* lose in 2014 and have not a foot to stand on in 2016.
Yes, it’s time to be angry, but it’s also time to try stop acting like we’re following Queensbury Rules when we’re involved in a street fight.
lyons8804 on November 8, 2012 at 10:57 AM
People want to work but think that a job is something that can be created magically by the waving of the federal government wand. They have no clue that a job is an end result of a healthy enterprise that has demand for its product or service. Obama and his ilk think that jobs cause economic growth, so if we just “invest” (really spend) on one-time infrastructure busy work and green energy, then that will spark growth. Ain’t gonna happen. Neither will responsible spending.
If you really want responsible tax policy you will not favor a policy that drives off capital that leads to expansion that leads to jobs.
Nick_Angel on November 8, 2012 at 10:58 AM
Fine. Keep being the Party of No, and I’ll see you in 2016. Can’t wait!
Alpha_Male on November 8, 2012 at 10:58 AM
I don’t know whether you’re stupid or lying, either way, go F yourself, parasite. If it was up to me, you and the rest of the Parasite class would get everything you voted for, in triplicate.
Let the tax cuts expire. Let’s see you turds on the left use the extra revenue (cough, cough) to pay down the debt.
Thomas More on November 8, 2012 at 10:59 AM
There are at least 16 Trillion reasons why you are mistaken. The things you think Dems beleive in are on the other side. Come join us if you really beleive in these things.
Difficultas_Est_Imperium on November 8, 2012 at 11:00 AM
Did you not read where I said very clearly we should not resist the Obama agenda and pass it in full?
Isn’t that saying ‘yes’?
Is reading comprehension also absent in the Democratic platform?
Ca97 on November 8, 2012 at 11:01 AM
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