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Obama's world (sequestration)

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Posted

And the Senate democrats version of the bill would've ADDED $7.2 Trillion to the deficit in 10 years per the CBO.

The sequester replacement bill proposed by Senate Democrats, and endorsed by the White House, would add $7.2 billion to the federal deficit over ten years, according to the nonpartisan Congressional Budget Office (CBO).

“CBO estimates that S. 388 would increase direct spending by $62.4 billion and revenues by $55.1 billion over the 2013–2023 period. Thus, the cumulative deficit would increase by $7.2 billion from those changes,” CBO wrote in a report.

The Democratic bill would replace the $85 billion in automatic cuts scheduled to take effect on Friday with a mixture of tax increases and spending cuts to defense programs and farm subsidies. However, those spending cuts would be phased in over a ten-year period, whereas the sequestration cuts would occur this year.

Good grief. Teeray...you need to have a sit down with Reid.

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Posted

They need to have one of these each qtr for the next 4 yrs

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Posted

So is it a rule that they have to call it something different every time? Because "fiscal cliff" sounded much more ominous

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Posted

I think they like the drama. Sequester just doesn't sound scary enough. They are all politicians and need to be needed. We are helpless without them.

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Posted

I love how Obama whines about having these apocalyptic incidents every month or so, but in this case he's the one wanting a continuing resolution and postponement of sequester. Republicans are letting it go.

Crap or get off the campaign trail Obama.

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Posted

And the Senate democrats version of the bill would've ADDED $7.2 Trillion to the deficit in 10 years per the CBO.

Good grief. Teeray...you need to have a sit down with Reid.

It is 7.2 billion, not trillion

That is interesting however, because I think that is a technicality due to PAYGO which means changes to the budget have to be offset. But I don't know if they can work around it without repealing PAYGO, which I assure you Democrats don't want to do because it fugs Republicans in the butt.

Also it had the cuts phased in over 10 years.

I didn't like it to begin with and am glad it failed.

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Posted

When this is the level of intellect driving the discussion, we've already lost

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Posted

It is 7.2 billion, not trillion

That is interesting however, because I think that is a technicality due to PAYGO which means changes to the budget have to be offset. But I don't know if they can work around it without repealing PAYGO, which I assure you Democrats don't want to do because it fugs Republicans in the butt.

Also it had the cuts phased in over 10 years.

I didn't like it to begin with and am glad it failed.

Billion...correct.

Obama threw out PAYGO a month after signing it.

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Posted

And the Senate democrats version of the bill would've ADDED $7.2 Trillion to the deficit in 10 years per the CBO.

Good grief. Teeray...you need to have a sit down with Reid.

When this is the level of intellect driving the discussion, we've already lost

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Posted

The world did not end today? Stock market went up? What the heck?

You'd think with the massive layoffs around the country and no police, first responders, FBI, border patrol, TSA, etc guys on the job, there would be massive chaos. Schools upside down without all the teachers that were laid off today, not to mention the child care mess. And the stock market goes up?

Bush is to blame for something here, just can't put my finger on it yet

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Posted

i wish the damn market would go down...

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