I’ve been saying for weeks that the debt ceiling should not be raised-period. If a person was a million dollars in debt, spends more money a year that he takes in, then says he’s going to cut 500,000, but not in one year, rather in 10 years as he continues to spend more as his income, a rationale assessment would be that the person is stupid.
This is exactly John Boehner’s plan that cuts spending over ten years as the country continues to spend more than it takes in year after year.
And we’re supposed to accept this as solving our financial problems? It doesn’t at all.
The Huffington Post
A Republican plan that would have hiked the nation's debt ceiling for only six months and left the country's spending captive to a "Super Congress" failed to advance in the House Thursday night, with Democrats and Tea Party-backed Republicans opposing the plan.
House Speaker John Boehner (R-Ohio) had initially scheduled a 6 p.m. vote on his measure which, in addition to raising the debt ceiling, would have cut $915 billion in spending and set up a 12-legislator commission to compel another $1.8 trillion in reductions over 10 years. The vote was then postponed to later Thursday night, but House Majority Whip Kevin McCarthy (R-Calif.) announced just before 10:30 p.m. that a vote would not occur until the following morning at least.
Boehner had already gone back and restructured his plan, after the Congressional Budget Office revealed Tuesday that it contained only $850 billion in cuts -- less than the plan put forth by Senate Majority Leader Harry Reid (D-Nev.).
But even after his plan was re-scored -- and he spent more than a day leaning on reluctant members -- Boehner was short at least three votes, sources said.
The Hill reported that the $17 billion in funding for Pell grants contained in the bill, added in part to lure some Democrats, was a major stumbling block for some members. And many Tea Party-backed Republican freshmen oppose any increase in the debt ceiling whatsoever.
Boehner and his leadership team worked for hours, but they were unable to salvage the bill and secure the votes, marking a stunning failure for a party leader on a crucial piece of legislation.
It was unclear if Boehner would try to bring the bill up again, or if the way was now clear for Reid to advance his plan, which would cut $2.2 trillion over ten years and raise the debt ceiling enough to last into 2013.
More here
Both political parties are playing the people for suckers! Boehner needs to be kicked to the curb! We need cuts in spending, not a sham.
Memeorandum
