Thread: Now that the Senate has voted to commit fiscal homicide...

I wonder what happens if Obama loses the election. Would he still be bound to monthly allowance? Or is he allowed to spent, as soon as a republican has become prez?

Originally Posted by mabus

I wonder what happens if Obama loses the election. Would he still be bound to monthly allowance? Or is he allowed to spent, as soon as a republican has become prez?

You'd have to ask Michele.

Originally Posted by Jason Marcel

No. The Senate decided against committing fiscal homicide against middle class and poor people while exempting the wealthy from having to share any responsibility. The American people bailed out the wealthiest financial institutions in the country. Saved their asses, and today they thrive and have more cash on hand than before the recession. Therefore it is only fair that they pitch in now to help out the very people that came to their rescue 3 years ago in what was a calculated fraud perpetrated against the American people.

Just because your President said it does not make it true.

In 2010, the top 50% of income earners, those making over $32,850, paid 97.1% of all the nations income taxes. How much more responsibility can they take? There is only another 2.9% left to give.

The top 25% of income earners, those making over $66,500, paid 86.6% of all income taxes. In other words, the bottom 75% of earners in this country only supply a lousy 13.4% of income tax revenue. They (we) are the ones who should be ashamed!

As far as the bailouts, I agree. However, those making less than $33,000 can hardly complain - as they did not supply any of the bailout money to begin with.

All we hear is what will allegedly happen to Medicare , never a mention of all the pork carried back to their districts by the elected, the fed agencies and jobs added, the useless research funded, the foreign aid. I realize that the social programs are the bulk, but damn, why does all the rest have to ride?

Originally Posted by Disillusioned_1

I say they pass a single bill that increases the debt limit as a function of time, raising it less-and-less each year so that eventually its not raised ever again. As part of the bill, they should add a provision that requires 80% majority to repeal the bill.

I.e.
Year 1. Raise it $1 Trillion
Year 2. Raise it $800 billion
Year 3. Raise it $650 billion
Year 4. Raise it $500 billion
Year 5. Raise it $400 billion
Year 6. Raise it $300 billion
Year 7. Raise it $200 billion
Year 8. Raise it $100 billion
Year 9+. No further ceiling increases. Requires 80% majority to raise it again.

The only way you can get a bill like that to happen is get 80% of the congress to be members of the Tea Party. Since enacting a bill requiring an 80% override should require an 80% majority to pass.

Since you couldn't get 5% of the Democrats to vote for it, that just isn't feasible.

Originally Posted by Commodore

... Against our Republic, what are we to do?

It is obvious to anyone who hasn't forfeited all ability to think independently to the MSM that Cut Cap & Balance was the only real solution to our fiscal ills, and it had the backing of two thirds of the population. If the Senate is not going to represent the will of the American people, what is our next step?

I propose that the House and Senate GOP caucus, Tea Party included, in recognition of the wisdom that our Founding Fathers had in separating the powers of the Federal government between two legislative bodies and separate but equal branches of government, and in honor of the democratic process, having done all that the American people have given them the power to do, now support a clean bill that raises the debt limit, for one month. At the end of August, and for every month until the next election, the House and Senate shall return to debate Cut Cap & Balance, vote on it, and until it passes, again raise the debt ceiling the appropriate amount for one month. In the mean time other business will continue as required, and both sides can take their case to the American people, reminding them that the longer President Robin Hood and his merry band of Socialists hold out, our government continues to dig a deeper hole for our children to climb out of, and the American people have the final say next November.

What say you?

Really?
I thought it was fairly clear to anyone with an IQ above chimpanzee, and a smidgen of economics that "Cut Cap and Balance" was a non-starter.

No one is saying we don't need cuts, but we also need tax increases.
Something that will put our tax rates around the level of every other modern industrial country in the world.
Something that will put our tax rates back to where we were running a nearly balanced budget for 50 years, where the debt as a % of GDP went down every year, when no investment in the world was safer than US treasuries.

Originally Posted by Commodore

You'd have to ask Michele.

Certainly not if the current result of your poll would be implemented.

Originally Posted by Commodore

... Against our Republic, what are we to do?

It is obvious to anyone who hasn't forfeited all ability to think independently to the MSM that Cut Cap & Balance was the only real solution to our fiscal ills, and it had the backing of two thirds of the population.

Reputable source please.