Tag: Mitch McConnell
But wait, it's our friendly Kentucky Republican Mitch McConnell to the rescue! (snark)
*White House, McConnell 'very close' to debt deal ("The first stage would pair an increase of roughly $1 trillion with cuts to government agencies of about the same magnitude over the next decade. In the second stage, a special congressional committee would be created to identify additional savings later this year. The size of those savings would dictate the size of the second debt-limit increase, giving Republicans the dollar-for-dollar matchup they have demanded between spending cuts and the debt-limit increase.")
Great stuff, huh? I think I'm going to go watch a movie for a while and escape from all this idiocy. Feel free to use this as an open thread to discuss the debt ceiling fight, and whatever else is on your mind. Thanks.
P.S. I just did a quick calculation, and found that Democratic votes fell off 32.9 million between 2008 and 2010, while Republican votes fell off only 21.2 million votes. That's what gave us the Teapublican'ts in control of the House, and much of the ridiculous situation we now find ourselves in. Great job to all the Obama '08 voters who didn't bother to show up and support him in '10. Not!
Don't let anger at Eric Cantor, the new star of the national GOP, blind you to the this fact: the Senate Minority Leader, Mitch McConnell, isn't trying to do Democrats any favors by "saving" the country from a default. What are Democratic Congressional leaders thinking by indicating they could back this plan (fortunately the President has not joined this chorus)?
The plan, if accepted, requires the President to identify $2.5 trillion in cuts as a condition for setting in motion an automatic increase in the debt ceiling by the same aggregate amount in three steps, at three scheduled dates, through 2012. The convoluted process automatically raises the debt ceiling by this amount, whether or not the President actually makes the cuts.
It is a very clever ploy by Mr. McConnell to put every Democrat running for the Senate next year in a no-win bind. It forces Democrats to go first in proposing, as the President himself has conceded, very unpopular cuts in entitlements and other programs. Thus, in terms of the big mistake the GOP made on Medicare, the McConnell "compromise" totally takes his party off the hook and puts Democratic candidates like Tim Kaine on it.
Fact: Whoever has to go first, loses politically, as the GOP found out with the Paul Ryan plan for Medicare. That's a fact of political life.
Bottom line: Mitch McConnell and the Republican Party have no answer to the simple question, "how will you make up the lost revenue from cutting taxes?" The fact is, these people are in complete denial, and will drive our country into utter bankruptcy with their fanatic belief in "supply side" ideology. Now, just to be clear, this isn't about the merits (or lack thereof) of cutting taxes, this is about doing so without making up the lost revenues, thereby exploding the deficit. And to that, the Republicans have absolutely no answer. Just keep that mind when you go the polls this November.