Faced with growing alarm over the nation’s soaring debt, the White House and congressional Democrats tentatively agreed Tuesday to create an independent budget commission and to put its recommendations for fiscal solvency to a vote in Congress by the end of this year.
Last time they had such a commission, it was under Reagan. They raised payroll taxes then, creating surpluses used to finance the tax cuts on the rich. What was borrowed from Social Security was never repaid back.
It’s a stealth move of huge consequences
But if the commission approves a deficit-reduction plan, Congress would have to act on it quickly under the agreement,
Jr.jr might outdo W! This B0bot has the right reaction
38. Screw you, Barack Obama.
You should have campaigned on HOPELESSNESS, to be truthful.
The plan represents a capitulation to conservatives in both parties, and would leave Democratic liberals accepting unconditional surrender not only on health care, but on the most basic of all New Deal programs.
In other words: The national treasury has been driven into deep deficits by a financial crisis caused by Wall Street greed, compounded by two wars, tax cuts for the rich, and the high prices charged by health care profiteers. And where will we turn to make up for this loss? To the poor and the old, who cling greedily to their “entitlements.”
The appointed commission is to make a recommendation on the budget after the election and that recommendation then goes straight to the floor of both houses for an up or down binding vote. There are no hearings,no opportunity for the members of the House to weigh in on the proposals….
A coalition of 56 progressive organizations sent a letter Wednesday to Congressional leaders and the White House asking them not to agree to the creation of a debt commission proposed by Sens. Kent Conrad (D-N.D.) and Judd Gregg (R-N.H.), which they said unjustly limits Congressional debate and “paints a target” on Social Security and Medicare.
Oh, he must be scared…
This would give the commission a 10-8 Democratic majority.Fourteen votes would be required to adopt any recommendation, meaning that at least half the Republicans would have to agree. This effectively ensures that only cuts in spending will be considered to lower the deficit, not tax increases on the wealthy or big business, since every congressional Republican leader has taken a “no new taxes” stand.
The commission would wait to deliver its recommendations until after the November congressional elections, meaning that voters would have no say on any proposal to slash vitally needed social spending.