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Daily Debt: Boehner Plan A Loser

Daily Debt: Boehner Plan A Loser

 

So, it seems the Republican Party still hasn’t found what it’s looking for.  After putting all of their hopes in the long awaited “Boehner Plan,” it turns out that the $1.2 trillion in cuts the Speaker of the House promised doesn’t come anywhere near that number.  The non-partisan Congressional Budget Office analyzed the deal and discovered it was only $850 billion in savings, well under what the Republican declared necessary in order to have a primary vote to raise the ceiling $1 trillion (which would force another debt ceiling battle right before the 2012 election).

In the midst of serious criticism from his own party, including some Republican presidential candidates,  Boehner has moved the vote for his bill to Thursday, to allow time to “retool.”

One thing he doesn’t seem likely to retool out of his bill?  The call for a vote on a balanced budget amendment.  Which leads some to point out that the entire time the GOP had a majority under President Bush, no one seemed to think a balanced budget amendment was worth voting on.  Of course, Bush also had nearly four times the spending that President Obama has proposed, and the Republicans had no issue with that, either.

Meanwhile, we are now under a week until the August 2nd default deadline.  Companies have already begun contingency plans that involve hiring freezes and reducing spending to reserve cashflow in light of the raise in loan rates.  But the potential financial repercussions seem to matter little to conservatives, especially the Tea Party faction, where leader Jim DeMint is urging his caucus not to “chicken out” on the debt stalemate.  But some analysts, perhaps in an attempt to keep the markets calm, are claiming August 2nd isn’t a real deadline, simply when the country can no longer borrow.  According to them, there’s actually another two weeks before the U.S. officially runs out of money.

In other words, the credit card is maxed out on August 2nd, but if it helps, the bill doesn’t actually have to be paid until the 15th.

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53 comments

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12:54PM PDT on Jul 30, 2011

Once you have a country where corporations are given the rights of individuals then politicians work for the corporations not the citizens . If the politicians does not do what the corporation wants (who put up the money for him to get voted in) then he will be out in a wink of an eye. When we have politicians who insist on 100% of what he wants and 0% of the other party this is not a negotiation but you see he has to otherwise he looses his job. The whole falicy is that corporations are not individuals and should not be given the rights of individuals. Until we correct this we will not have a true democracy.

11:01PM PDT on Jul 28, 2011

Boner's (how his name should be spelled) plan is doom.

7:51PM PDT on Jul 28, 2011

As of 7P.M. PDT,the vote on Boehner's latest plan has been delayed 4 hours because of not enough votes from GOP members. The Weaper has gotten himself into two traps;1; his entire time in that position he's kept the freashmen ,Tea Party members in an insurgant frensy,and now,when he needs to most,he can't whip them back in line.2;since he took this position over,he's never reached across the isle to cultivate at least some Democratic support for some the 12 bills he's ushured through,preferring a totally adversarial approach to them. So tonight when perhaps a few Dem votes might help him,the Dems are content to let him twist in the wind. Hard as it is to believe,Boehner just may be a worse Speaker than Gingrich and Hasserts!

7:35PM PDT on Jul 28, 2011

the only plan I've heard that I like is that offered by the gang of 6.

6:01PM PDT on Jul 28, 2011

Someone PLEASE pass the kleenex to Boehner!!

5:10PM PDT on Jul 28, 2011

How can anyone expect a winning plan from Boehner? The guy himself is a loser, by pandering to a fanatical fringe minority who want to turn our country into a plutocracy. I have a politically active friend who just wrote a great blog on that subject: http://finnwcontini.blogspot.com/2011/07/tea-party-motives-return-to-plutocracy.html

4:23PM PDT on Jul 28, 2011

Is he looser or his plan is a looser is a different story. Most probably, he will lose tonight. The sad part is that he was working for himself not for his voters trying to avoid being fired by his party.

An even sadder part is that there are enough provocateurs elected to the Congress who are playing with fire. They have one single goal and that one is political - to remove Obama. Boehner was saying something about Obama wanting a blank check. He wants a blank check for his party with this "short-term" bill. A check where it says "Election 2012" and no name filled out. All he wants is the strategic advantage in 2012. That is about all.

Does anyone really believe that the Rep became fiscally responsible, all of a sudden? Please ..

Someone here - Steve? - was asking "who wants to continue spending?" Is it just me or the spending is on the people in the big part? Yes, the President and the Dems are backing him have to continue spending because they cannot just cross out people's health care, education, services, law enforcement, come on help me out here ... I thought the Rep were put in the Congress by people, too. Or I am wrong?

3:55PM PDT on Jul 28, 2011

The Republicans, controlled by big corporations and billionaires, could care less about this country and it's citizens. They are lowlife.

3:19PM PDT on Jul 28, 2011

That cry baby Boehner is a loser and so is his planet and the rest of the band of republican Mafioso..They are all in the Congress.We should all fire them and start from scratch!

3:19PM PDT on Jul 28, 2011

Republicans and Democrats both worked to put the country into the place we are now. We need to think outside the box and take dramatic changes, cuts to Government employee wages, as the private sector has. Cuts in subsidies, all no essential employees need to be evaluated and all duplicate jobs cut, all health insurance coverages cut in half for government employees. That is what most of my middle class and poorer working neighbors, families, and friends have done.

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