Floyd and Mary Beth Brown,FloydReports.com
The media frenzy over Republican Senators and Barack Obama making nice over the debt ceiling crisis exposes for all Americans to see the extent to which both parties are aligned with Wall Street interests,and against the interests of Main Street and small business. The subject of this latest bipartisan love fest is the Gang of Six plan.
Americans want reform. The Republican majority in the House of Representatives was swept into office by promising reform. The Gang of Six solution is the antithesis of reform.
Supposedly it offers the “balanced approach”of which Obama rambles on about endlessly. But in reality,the Gang of Six is one-sided. It offers only vague language about spending cuts. At best the Gang of Six plan might cut $500 billion,and even these cuts cannot be guaranteed. In real terms,government would continue to grow.
Also the Gang of Six solution would dramatically increase taxes. It calls upon the Senate Finance Committee to craft a tax reform plan that would actually increase taxes by $2.3 trillion over a 10 year period. Some members even cynically call it a tax reduction by using a baseline that everyone knows is phony. This is a baseline that predicts all of the middle class tax cuts signed into law by President Bush was repealed.
All of this because rejecting the debt ceiling increase would require the U.S. government to right size itself and begin a pay as you go diet.
The secret they don’t want you to know is that the U.S. government is currently taking in over $200 billion a month. This could easily service the debt and forestall any default. It could pay current Social Security and Medicare bills. What would have to be cut is discretionary spending,and Congress doesn’t like this idea.
Gone would be money Obama wants to expand the EPA. Gone would be ethanol subsidies. Gone would be the billions poured into universities and colleges to subsidize the “intelligentsia.”Foreign aid money wouldn’t gush out. The cuts would hurt many in government employment,but default would never have to result,and grandma would still get her Social Security.
Neither party cares much about anything other than perpetuating their power….
Facts:Democrats had 2 years of complete control of GWB's administration –No budget plan.
Democrats had 2 years of complete control of Barack Obama's administration –No budget plan.
Now all of a sudden Obama shows concern for the country and the economy?
Yeah! Right! His legacy will be that he destroyed America and was the first President to have the countries credit ratings……downgraded! Pathetic! It is all "under his watch",no getting around this one!
Brilliant. I know a lof of us are so sick of the game the Dems and RINO's are playing. And it doesn't help any that the lefties have their illiterate crew on all the boards talking like idiots about "Republicorps."I try to tell 'em,unless you know the congress member's ideology,it's BOTH parties. I know I can trust real conservatives like Paul Ryan,Bahmann,DeMint,etc.,and I only hope that they somehow prevail.
Aren't you kinda proud,tho',of ol'Boehner actually having a spine for once and standing barry up to the point he was ready to lose it (again) on TV?