Government

GOP Again Rejects $4 Trillion Deal for Reducing Debt

GOP Again Rejects $4 Trillion Deal for Reducing Debt

President Barack Obama and congressional leaders remained divided in a 75-minute meeting Sunday over the size and the components of a plan to reduce long term deficits. Noting the need to work out an agreement over the next 10 days, the president and lawmakers agreed to meet again to discuss the debt-limit Monday. ABC News:

“President Obama told congressional leaders tonight that he is prepared to make the tough decisions on entitlement spending to reach a deal on raising the debt ceiling and cutting the deficit, a Democrat familiar with the negotiating process told ABC News.

But if Republicans are not willing to do the same regarding taxes, the president asked them during a meeting at the White House, what is their alternative?

Obama has scheduled a news conference for Monday morning, his second one in less than two weeks devoted primarily to the debt talks, as he looks to use the power of his office to sway public opinion.

Officials familiar with the meeting said Obama pressed the eight House and Senate leaders Sunday evening to continue aiming for a massive $4 trillion deal for reducing the debt. However Republicans appeared to be disinterested for such an ambitious plan and the political price it would require to pass in Congress. Instead, House Speaker John Boehner told the group that a smaller package of about $2 trillion to $2.4 trillion was more realistic.

Republicans have demanded that any plan to raise the debt limit be coupled with massive spending cuts to lighten the burden of government on the struggling economy. A Democratic official familiar with the session said House Majority Leader Eric Cantor, R-Va., was especially adamant that any deficit reduction package could not contain tax increases and that any new tax revenue would have to be used to pay for other tax benefits. Higher taxes, Republicans have said from the start, are deal-killers if not offset elsewhere. Many Democrats on the other hand are unnerved by the president’s $4 trillion proposal because of its changes to Medicare and Medicaid.

Officials familiar with the meeting spoke on the condition of anonymity because of the delicate nature of the negotiations. Officials said Obama time and again pressed for a larger package. He also pointed out that the smaller deal of up to $2.4 trillion still would require tax revenues and that not all of the details had yet been worked out.

In frustration over how Sunday’s meeting played out, one Democratic official said of Republicans “if they want to walk away from a historic opportunity to reduce the deficit, that’s their choice, but it does expose them in a pretty big way.”

Earlier, White House Chief of Staff Bill Daley said in a television interview that Obama would not “walk away from a tough fight.”

“We’re going to try to get the biggest deal possible,” said Treasury Secretary Timothy Geithner in another interview.

Senate GOP leader Mitch McConnell of Kentucky said Saturday that the $4 trillion deal raising taxes amid 9.2 percent unemployment,  ”is a terrible idea. It’s a job killer.”

Lawmakers said that previous bipartisan talks, led by Vice President Joe Biden, identified a fraction of cuts that would be needed even for the more modest packages. Boehner insisted the smaller proposals had more realistic chances of passing.

“I believe the best approach may be to focus on producing a smaller measure, based on the cuts identified in the Biden-led negotiations, that still meets our call for spending reforms and cuts greater than the amount of any debt limit increase,” Boehner said.

The package of $2 trillion to $2.4 trillion in deficit reduction identified by the Biden-led negotiators would still require Republicans to accept some increase in tax revenue. Republicans walked out of those negotiations after they were unable to accept about $400 billion in new tax money that the White House proposed by closing loopholes, ending some corporate subsidies, and limiting the value of deductions for wealthy taxpayers.

One option now under consideration by Obama administration officials would call for capping some deductions for wealthy taxpayers at the 28 percent tax rate and using the revenue to help pay for a yearlong extension of a current payroll tax cut. The extension would expire at the end of 2012, but the cap on deductions would continue, generating new revenue in the long term. Capping all itemized deductions at the 28 percent rate would generate about $293 billion over 10 years.

Time is becoming increasing precious in the negotiations. The deficit reduction talks are linked to the government’s need to increase its borrowing limit, now capped at $14.3 trillion. The Obama administration says if the debt ceiling is not raised by Aug. 2, the nation would default on its obligations, with potentially calamitous financial consequences worldwide.

The International Monetary Fund’s new chief, Christine Lagarde, said that if the U.S. fails to raise its debt limit, she foresees “interest hikes, stock markets taking a huge hit and real nasty consequences” for the American and global economies.

Daley said that the President is calling on lawmakers to “step up and be leaders.”

Daley was on ABC’s “This Week,” as was Lagarde. McConnell appeared on “Fox News Sunday” and Geithner was interviewed on NBC’s “Meet the Press” and CBS’ “Face the Nation.”

The Associated Press contributed to this article.

Comments (140)

  • drlontime
    Posted on July 11, 2011 at 12:18am

    How can you ever get spending under control by raising the DEBT LIMIT! NO, NO, NO! Is everyone in DC an idiot? Never mind! Cut everything! It will hurt but lets just get it over with!

    Report Post »  
    • TomFerrari
      Posted on July 11, 2011 at 8:15am

      RIP that bandage off !!!

      I hear ya!

      Better analogy – we are hemorrhaging money (spending) and the dems just want to keep DRAINING more blood from him! Where are they going to get the blood? They are going to keep taking it from the patient in the next bed. Hey, he still has a pint left! Let’s take THAT!!

      The Republicans and the conservatives are shouting, “NO!” You’ll kill that patient too! Let’s suture up the dieing patient! Let’s bandage the wound!

      And yet obama and his socialist democrats still demand, ‘only if we can take more blood from that guy who still has one pint left.’

      Actually, the debt limit is the blood bank. Everyone agrees to give the patient some more blood. The R’s want to sew him up. The socialist dems want to demand the guy with 1 pint left give it to the blood bank. The R’s say, if we take the last pint, we risk killing him too! Better to let him live and make more blood daily and donate a pint a month to replenish the blood bank.
      —-
      To continue my analogy-
      The Constitution is the DNA of our Govt.
      It’s design: a beautiful, smart, lean, strong body with 2 arms, 2 legs, a head, 10 fingers, 10 toes.
      Progressives (both types) have “Frankenstein-ed” it.
      It now has 18 arms, 32 legs, 6 heads, 353 fingers, and 7 toes, and weighs 4,200# (@99.5%FAT).
      It is massive & grotesque!
      To save it, we must amputate all that fat and abomination.
      It leaks blood like a British motorcycle leaks oil.
      Amputate the monstrosities, save the rea

      Report Post » TomFerrari  
  • Steve
    Posted on July 11, 2011 at 12:12am

    I predict the Re-pukes cave

    There isn’t a single leader in there with a back bone to stand up to the corruption that has controlled our leadership in Washington.

    Report Post »  
  • CultureWarriors
    Posted on July 11, 2011 at 12:10am

    Here’s a fact of life Washington seriously needs to come to grips with … If you live beyond your means today, by necessity you’ll have to live below your means tomorrow. That‘s the tomorrow we’re creating for our children and grandchildren. If you don‘t stop spending our children’s future WE WILL RISE UP AND THROW YOU ALL IN JAIL! Now grow up and live within your means like adults or risk a total break down of society. What needs to happen is that the Federal government needs to be cut in half … twice! We don’t need a dept of education or a department of agriculture etc etc etc … In fact 90% of all federal agencies are completely un-necessary!

    Report Post » CultureWarriors  
    • SHOWMESTATEGUY
      Posted on July 11, 2011 at 4:26am

      The U.S. federal government has became the master of the slave plantation of a country. The government is the master and all the people who work are the slaves. During the plantation days I’m sure if the master needed to have more production he just made his slaves work longer hours. Today, if the government master needs more production (taxes) the government just increases them.

      Report Post »  
  • MGB-CPA
    Posted on July 11, 2011 at 12:09am

    I’ve got an idea. Double the tax rate for all of the democrates. That would should help to balance the budget. Tht should make them happy. Also, any new spending should be tied to increased taxes on the democrates. :)

    Report Post » MGB-CPA  
    • MGB-CPA
      Posted on July 11, 2011 at 12:23am

      Next time I think I should proof read my comment! The Liars (Democrates and the Administration) need to put their money where their mouths are and stop spending other peoples money.

      Report Post » MGB-CPA  
  • sbenard
    Posted on July 11, 2011 at 12:07am

    Entitlement spending now consumes ALL — yes, 100% — of federal revenue. There isn’t even enough left to pay interest on the debt or fund national defense. We’re borrowing everything else in the budget!
    If we don’t make substantial cuts in spending within the next year of two (like a 50% reduction in the deficit), then an economic calamity is a certainty. We who work in the financial markets are watching this closely. We must either cut voluntarily, or we will be forced to cut when we hit a brick wall in the next year or two. If that happens, all entitlements will come to an abrupt end and we will see a depression that will make the 1930s look more like a Sunday picnic in comparison!

    I put the odds of a deal that will avoid a disaster as less than 1 in 5. The magnitude of our debt crisis is that deep! Plan and prepare accordingly!

    Report Post » sbenard  
  • bhelmet
    Posted on July 11, 2011 at 12:07am

    I think it is a sad state of affairs when “loopholes” are bargaining chips. ALL “loopholes” should be CLOSED – period. We don’t have a revenue problem – we have a spending problem. If they are so serious about “cuts” then MAKE them and the need to borrow goes away. Let’s deal with the pain NOW – it is going to suck, but it will be worse if we borrow more.

    Report Post » bhelmet  
  • ofallon
    Posted on July 11, 2011 at 12:06am

    Stand firm. Get it under $2 trillion.

    Report Post »  
  • cous1933
    Posted on July 11, 2011 at 12:03am

    Anyone who thinks that the debt ceiling is not going to be raised by August 2nd is silly. This whole debate is for show. Everyone in Congress as well as Obama knows already that it is going to happen. In addition the compromises that are made won’t amount to a hill of beans.
    There are drastic cuts that can be made immediately like ending ALL foreign aid, bringing home all of our military, ending the federal “war on drugs’ (everyone has to admit that the hundreds of billions of dollars spent on this farce have not made a scratch in the problem of illegal drug abuse in this country), and first auditing the Fed (and demanding no more fiat money be printed) and eventually ending the Fed. These steps would just be a start but would immediately cut spending by billions in the first week. There are so many additional cuts to the federal government that could follow and there would be a short period of deflation and resulting recession (the same sort of “suffering” any individual would have to endure if they spent ten times more than they made) but if the government would allow the free market to repair the economy it would. Instead the debt ceiling will be raised and more debt will be incurred. You can bet your worthless fiat money on it.

    Report Post » cous1933  
  • Midwest Blonde
    Posted on July 10, 2011 at 11:59pm

    Any of you old enough to remember when JFK said (in his inaugural speech) “Ask not what your country can do for you; ask what you can do for your country”.

    THIS is what the Demonrats have forgotten.

    Report Post » Midwest Blonde  
    • CatB
      Posted on July 11, 2011 at 12:36am

      These are not Kennedy democrats .. they are progressive socialist Marxist .. Kennedy would NOT approve.

      TEA!

      Report Post »  
    • ramburner
      Posted on July 11, 2011 at 12:52am

      JFK was NOT a Maxrist Communist. The Progressives in BOTH Parties need to be rooted OUT of office and we need replacement representatives who really listen to the people. This is NOT the time to be electing another good-ole boy who follows the Progressive party line, we need fresh ideas and those who will follow the Constitution, Declaration of Independence and the Federalist Papers. Those who have done their homework and read REAL history about our country and NOT those who have bowed to the revisionist version taught in schools today.

      Report Post »  
  • Ajohn
    Posted on July 10, 2011 at 11:57pm

    It seems there are no details in this article about Obama’s $4T deficit reduction, is it meant only to garner a tax hike? I suspect it is smoke and mirrors to get his tax hike with a promise 10 years down the road when Obama is long gone from the precidency and is sitting pretty at our expense. Failing policies ten years from now could be blamed on anyone for anything and he gets away with it.

    Take your time and make certain it is right, real and honest. No more, we will know what in it after we pass it. We need $2T in real spending reductions, not $4T in promises; that is what spending less is all about. That is what working Americans have had to do.

    Report Post »  
  • NOBALONEY
    Posted on July 10, 2011 at 11:57pm

    4 Trillion spread over ten years will be full of gimmicks, and if it’s anything like the last budget deal, it won’t reduce the deficit or the debt. The president’s own deficit commision had recommendations; which he rejected. Why not adopt some or all, and cut some 2 or 3 trillion before the 2012 election, and let the chips fall where they may. The 2010 election was about real change. The 2012 election will be about all aspects of the economy.

    Report Post » NOBALONEY  
  • Midwest Blonde
    Posted on July 10, 2011 at 11:56pm

    It’s not necessarily the entitlements that are the problem – it’s FRAUD that allows some people to GET those entitlements. Clean up the waste and fraud – then worry about who/what to cut.

    On top of that, start cutting government employees who clearly don’t work at their jobs – there’s far too many jerks who work maybe 3 hours of their day and take home $100K plus for the year. Quit spending hundreds for hammers, quit spending thousand for military stuff that you could get otherwise for pennies on the dollars being spent.

    There is NO NEED to be so specific about what a hammer should weigh, yada yada yada…….

    Off the shelf stuff like the general population has access to is enough for the military. They do NOT need a 250 page recipe for a military food because the recipe contains specification for EVERY ingredient in the recipe! There’s no need for things to be SO regulated.

    The government needs to let the free market be FREE. No farm subsidies – let the farmers either make it or fail trying but let them TRY, on their own. No subsidies for green stuff either – either they learn how to make it cheap enough to be profitable or let them fail. (And I think the car companies should have been allowed to go under – the UAW runs that part of the country and are not worth the pot to pi$$ in.)

    I could go on about waste, fraud and abuse of government $$ but lets face it, we’ve allowed it for far too long. Time to REALLY take a stand. Write yoru c

    Report Post » Midwest Blonde  
  • bulletsinthegun
    Posted on July 10, 2011 at 11:50pm

    Obama must be stopped, stand strong, barry has know idea of what to do but next but do his dooms day prediction

    Report Post » bulletsinthegun  
  • kman
    Posted on July 10, 2011 at 11:48pm

    It is simple, stop spending. Get Obummer out of the White House.

    Report Post »  
    • CatB
      Posted on July 10, 2011 at 11:57pm

      Occidental College transcripts provides concrete evidence to annul Obama presidency.

      http://presscore.ca/2011/?p=2929

      Throw the imposter out!

      Report Post »  
    • cheezwhiz
      Posted on July 11, 2011 at 1:27am

      @ CatB
      OMG
      Whoa …WOW…and still no one wants to throw him in jail for fraud on American people ?
      Not one Congressional hearing ?
      Not even one ?

      Report Post » cheezwhiz  
    • TelepromoterNChief
      Posted on July 11, 2011 at 8:15am

      Obama won’t even show face in an uncontrolled question and answer environment.

      I will be surprised IF there are any ‘012 Presidential debates that he actually shows up for one.

      Report Post »  
  • go2gym
    Posted on July 10, 2011 at 11:48pm

    Anthony Weiner tweets: “No, no small packages!!”

    Report Post »  
  • RSHLUVER
    Posted on July 10, 2011 at 11:46pm

    Grow a spine John Boehner.

    Report Post » RSHLUVER  
    • ReviveOurNation
      Posted on July 11, 2011 at 12:08am

      Boehner is gonna cave. The only unknown is to what extent he’s going to ignore the will of the people and screw this country. He lacks a spine and cajones.

      Report Post » ReviveOurNation  
  • american1st
    Posted on July 10, 2011 at 11:44pm

    smoke and mirrors… cuts that aren’t cuts, in exchange for tax hikes that allow spending to continue uninterrupted…. its a rigged game where the establishment wins no mater which “side” gets the best deal and the people lose no matter who wins …….

    NO RINOS NO NEOCONS 2012 and we need to vote a whole lot more bums out, before the will of the people gets represented…

    Report Post » american1st  
    • Mil-Dot
      Posted on July 11, 2011 at 2:42am

      You are exactly right. The lives of our so called “representatives” in Wash DC have become so lavish and luxurious, so full of exorbatant benefits and perks and riches at the expense of the country. They simply cannot fathom implementing ANY plan to cut into their power and lives of luxury. They cannot imagine it. This country is going down the drain and they are dancing and partying like there is no tomorrow, all on our dime.

      Report Post »  
  • flagbearer
    Posted on July 10, 2011 at 11:44pm

    The Democrats cut no deal during Obamacare. GOP needs to stand fast. Please do not give in to the liberals, not one inch or they’ll take a mile. It is about time they see that “giving up something” is a two-way street. Conservatives have given in for years, and look where it has gotten us. NO DEAL or we vote again in 2012 to get you out.

    Report Post »  
    • Quagaar Warrior
      Posted on July 10, 2011 at 11:59pm

      ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
      Deal or not, VOTE OUT THE RINOS IN THE PRIMARYS ANYWAY! They’re all cancerous polyps on the anus of the Republican party!!!
      ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

      Report Post »  
  • larry25427
    Posted on July 10, 2011 at 11:44pm

    Maybe default is what we need to get the dems to come to the table and bargain in good faith. They have had over 800 days to make a budget and have failed to do so. If anything goes wrong with the economy, the dems are to blame.

    Report Post »  
    • CatB
      Posted on July 10, 2011 at 11:52pm

      EXACTLY LARRY!

      Well said…. Obama and the DEMS need to be held accountable for all the spending and destruction of the economy since Pelosi and Reid took over in 2006 .. funny how the economy tanked in 2007 and has continued to go down under Obama’s rule!

      TEA!

      Report Post »  
    • jb.kibs
      Posted on July 11, 2011 at 12:22am

      The Obama administration says if the debt ceiling is not raised by Aug. 2, the nation would default on its obligations, with potentially calamitous financial consequences worldwide.

      The banks, realtors, gm and ge will bail us out… lol… ;)

      Report Post »  
    • cheezwhiz
      Posted on July 11, 2011 at 1:19am

      jb.kibs
      The Obama administration says if the debt ceiling is not raised by Aug. 2, the nation would default on its obligations, with potentially calamitous financial consequences worldwide.
      ————-
      What ARE those obligations anyway ? US taxpayer money being doled out to taliban, moozie bros, lafamilia, Petrobras, planned parenthood, welfare for illegals and anchor-babies, tax exemptions for Media matters, Moochl’s entourage , the lavish partying in WH every week, pensions of union thugs, grants to social justice ‘churches’ to keep the Obama-voting slaves from jumping the plantation ….what ?

      Report Post » cheezwhiz  
  • go2gym
    Posted on July 10, 2011 at 11:44pm

    GOOD! Politicians have run us into the ground with debt over the decades, and in the last 10 years it’s stepped up a notch. Then the Democrat Congress showed up in 2007, and the notch became notches. Then the super-majority Democrat Congress and a far Leftist President, fired off the solid rocket fuel and started a trajectory that would make the Space Shuttle envious. Now they want to claim fiscal responsibility, calling for getting the house in order, in part by raising taxes? NO! Your spending is done, you didn’t say jack SQUAT about fiscal responsibility or debt while you ran it up. And make NO MISTAKE…………had Congress maintained its 2009-2010 composition, the debt ceiling would have already been raised, and there would be no fiscal responsibility talks. On the contrary, the spending spree would continue in a straight vertical line!!!!!!!!!

    Report Post »  
    • beekeeper
      Posted on July 11, 2011 at 1:20am

      I don’t get this – the Dems all say defaulting on our debt obligations would be the worst possible thing we could do. Republicans say that no one wants to default on our debt obligations. Why is it the left gets to blame the Republicans for something the Republicans are publicly against?

      Seems to me we have plenty of tax revenues to pay our debt obligations and meet most of our spending requirements, just not all of them.

      Social Security has no place in these discussions – it has a defined “trust fund” that is funded by dedicated taxes. It may be true that over $2.5T of the Social Security trust fund is in the form of Treasury IOUs (which are part of the $14.3T total of what we’ve borrowed, I assume), but benefit payments are being met without tapping other revenue streams. For now.

      Every tax loophole (everyone) was originally designed to stimulate some activity that was lagging at the time – the loophole encouraged specific activites in the private sector, when we start cutting loopholes, we stop stimulating/encouraging related activites. I remember when NJ instituted a set of “Millionaire’s Taxes” – making expensive cars, boats, furs art and jewlery more expensive. Guess what happened to those industries? People went out of state to make purchases, putting NJ-based salesmen and companies (furriers and boat yards) out of business across the state, almost overnight.

      Seems the rich resented being singled out and found out they could purchase those goods chea

      Report Post » beekeeper  
    • beekeeper
      Posted on July 11, 2011 at 1:27am

      …cheaper across the Hudson River.

      The next time you see a poll that says 65 to 70% of Americans believe that the rich need to pay their fair share, increase their tax payments, remember that exactly 50% of all Americans pay nothing in Federal Taxes. Zero. Nada.

      If you subtract that 50% from the poll results, you then wind up with 40% of taxPAYERS think the top 1-2% of taxpayers needs to pay more – but not them…

      Report Post » beekeeper  
  • drhunt
    Posted on July 10, 2011 at 11:41pm

    What is it about…“no new taxes”, that the Dems don’t understand? Just cut the freakin’ spending! This is NOT “Let’s Make a Deal”…BO has run out of excuses…and his ‘slight-of-hand’ antics at the end of 2010 extending the Bush tax rates was just a ploy. Cut spending. Simple. Reduce the size of government. Easier…painful, yes, but necessary. Too much is at stake, and BO needs to be exposed for stinkin’ up Washington. Boehner needs to stay focused. And all of you need to FLOOD your Congressmen and women.

    Report Post » drhunt  
  • CatB
    Posted on July 10, 2011 at 11:40pm

    The Republicans need to stand firm .. cut spending … don’t increase the debt .. the Democrats want to make “deals” that include immediate increases in debt and “proposed” cuts 10 years out. WTH .. don’t CAVE!

    TEA!

    Report Post »  
    • ramburner
      Posted on July 11, 2011 at 12:59am

      Correct CATB; we need people who will stand firm and demand we cut nearly the complete 14 Trillion out of the budget by cutting the spending back to at least what it was under Bush. NOT that I am a fan of Bush, but when he left office our debt was what??? 463 Billion and now it’s what??? 14 TRILLION!!!! If Obummer got into office and did in 4 years what could not have been done since the beginning of our country, then we must UNDO what was done by NOT funding it long-term. CUT SPENDING! CUT to the CORE, and I don’t want to have them tell me that they are cutting Social Security, Medicaid or Medicare. they were fine until Obama, and we need to return to the way things were, then make the improvements required as we can afford them. The SS system needs to be completely changed, but left alone for those 50 and older. Same with Medicaid and Medicare. People too old to make life changes should NOT be penalized! Government needs to be drastically reduced in size and ALL of the small business regulations need to be abandoned so the private sector can do its job once again. Let us have REAL reform and not just hint at it.

      Report Post »  
  • Jake in Denver
    Posted on July 10, 2011 at 11:39pm

    Obama wants to cut Medicaid and Medicare to force more people into Obamacare. He figures that if they have no other recourse, they will turn to his socialized health care. Do not be fooled! We need to make cuts to Medicaid and Medicare in a controlled manner to phase them out responsible without leaving people hanging out in the wind.

    Report Post »  
    • CatB
      Posted on July 10, 2011 at 11:48pm

      Tomorrow mornings “news conference” will be all about the continueing class warfare and TRYING to scare seniors about what the “rascally” Republicans want to do .. steal from Social Security and Medicare .. don’t FALL for it!

      TEA!

      Report Post »  
  • Quagaar Warrior
    Posted on July 10, 2011 at 11:36pm

    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
    Welcome to the real world, Man-Child!
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

    Report Post »  
    • CatB
      Posted on July 10, 2011 at 11:44pm

      He’s about to get a “taste” of the real world .. who knew what and when did they know it on the Fast and FuriousGATE?!!! How high does it go! Demand the TRUTH!

      TEA!

      Report Post »  
    • Thatsitivehadenough
      Posted on July 11, 2011 at 12:56am

      I hope someone does have the balls to ask him about Fast & Furious tomorrow. Let’s see him sweat. He deserves it.

      Report Post » Thatsitivehadenough  
  • Oh My God
    Posted on July 10, 2011 at 11:36pm

    Don’t give in!! The people are with you.

    Report Post »  
    • SpinDaddy
      Posted on July 11, 2011 at 12:05am

      Hang Tough You Guys ARE D O I N G THE RIGHT THING AND WE’VE GOT YOUR BACK!!

      DO N O T GIVE IN. W I N N I NG !!!

      Report Post »  
    • Divineliberty
      Posted on July 11, 2011 at 12:08am

      I love how they have changed the language…‘loop holes’ aka the actual law that has to be followed ‘corporate subsidies’ aka taxes they dont have to pay… if we had a flat tax no one would be able to pull any of this crap.

      Report Post » Divineliberty  
    • mharry860
      Posted on July 11, 2011 at 12:08am

      Even 4 trillion over ten years is not enough, I heard the math the other day and it will still increase the debt.

      Report Post » mharry860  
    • Snowleopard {gallery of cat folks}
      Posted on July 11, 2011 at 12:13am

      Indeed do not give in.

      No raising of the taxation the people go through, and the simplest way to cut the deficit each year is to cut spending as well. There are a few areas right off that could save on the beginning – HSA, TSA and DOE to start with…

      The one part Obama is holding on, from what I understand is his persistent demand for new taxation in return for the deal on spending cuts. ANY and ALL cuts in spending should also have the needed ammendment to the Constitution with TEETH of STEEL to make it work!!!

      Somehow though, this also seems to be, with the talks of the POTUS supposed power to make the increase of federal debt limit on his own, that Mr Obama is just dragging this out to set up a large scale Constitutional Crisis and a bigger consolidation of power within his office.

      He is up to something, so obvious that most people are missing it even though it is right out in the open. http://artinphoenix.com/gallery/grimm

      Report Post » Snowleopard {gallery of cat folks}  
    • tower7femacamp
      Posted on July 11, 2011 at 9:32am

      both parties will agree to keep the TSA and reduce SS benefits for the slaves

      http://www.infowars.com/tsa-chief-pistole-should-face-felony-charges-for-lying-to-lawmakers/

      Report Post » tower7femacamp  

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