CBO Score: Senate Plan Cuts Deficits by $2.2 Trillion Over the Next Ten Years

HOLD FIRM, REPUBLICANS! You will NEVER see the decrease in spending from the “winding down of the wars.” This is not written in stone and the Democrats & Obama will flip-flop on this. Obama has lied and deceived MANY times during the debt crisis…hold them to the fire. Obama just wants this discussion to go past the election, like he would be re-elected anyway. Obama is a loser. Just this morning, a Democratic Congressman was arrested outside the White House because Obama has failed on immigration. Obama is losing the Independent vote, the hispanic, and now the African-American vote is nose-diving. This country will NOT get back on track until Barack HUSSEIN Obama is voted OUT of office!

the GOP has no plan…they are the ones ruining this country. I will NEVER VOTE FOR ANY OF THEM. They have wanted this president out from day one. All lies and rumors. John B. has no plan…now his plan is no good and they are scrambling to make another one? DISGUSTING.

Art: David seems to be one of those that have been slamming this president since day one. It’s ridiculous. He’s doing a good job considering all the messes he has. The GOP has been NO NO NO from day one. We can see that from John B.’s so called plan. I listed to both sides the other night and John B. said the president was given a blank check? What kind of nonsense is that? And they want a six month plan to be rehased all over again. Politics and elections not the well being of the country. Party of NO and the RICH.

barb
do you know what you are talking about, you say GOP has no plan but his plan is no good. WTH

@Barb, @Art Actually, I’m an Independent that DID vote for Obama in 2008. The GOP has put forth four different plans…Obama has already stated that he will VETO any plan the Republicans put forth. Democrats have not put forth a plan in over 800 days, with the exception of Reid’s on yesterday. So, you have a POTUS that explicitly states he will veto ANY plan from the GOP, but yet, goes on national television and spouts bi-partisanship. Obama is an utter failure…..”empty suit, no substance.” YES, I’m upset! I voted for Obama and it has been NOTHING but LIES from day one…LOOK at all the campaign promises he’s broken. Even though I don’t agree with the GOP on all fronts, I do see them making an effort. Obama is doing nothing but playing to his base. He’s a very sad person…myself and millions of other Independents will NOT be voting for Obama next year..thats a promise.

Call me names if you like: Since Obama has been POTUS, the defict has increased by 35%…thats MORE than the combined TOTAL of ALL Presidents before him. Since Obama has given waivers to over 1400 companies (mostly union companies), why not put ObamaCare on the chopping block instead of Medicare/Medicaid. If Obama has a plan, why doesnt he put it in writing. You see the GOP presenting plan after plan…Obama has already promised, no matter what plan the GOP puts through Congress, he will veto it. Sometimes, I think Obama wants the country to fail…..Obama is a weakling….he’s losing support left and right and is only concerned about re-election….he thinks its all about him. This is ridiculous.

4betterdays: John B. has no plan because the so called plan he had was not a plan at all…it did not cut the deficit enough. he just quickly put something together!.it was all over the news this morning.
David: I disagree. I think more Americans are fed up with the GOP. We will see what happens when elections roll around.

@Barb: Obama has already failed. Even the liberals are coming out saying his is not a leader in this debacle. Bernie Sanders, who caucuses w/Democrats is wanting a Democrat to challenge Obama next year in a primary. A Democrat Congressman was arrested yesterday at the WH protesting Obama’s stanc on immigration. Obama’s party is turning against him…call it what you want, spin it any way you want….the Democrats are imploding and Obama is a complete and total failure.

Dave: you have your opinion and I have mine…but from day one the GOP has been blasting this president. I’m so sick of all the back and forth and name calling from some of the other posters. It’s so silly…people believe rumors and lies and both sides do have a lot of fault, but the GOP/Tea Party are the worst. Let’s see what actually happens on election day.

MITT ROMONEY IS A LOSER WITH NO SPINE, HE DODGES THE DEBT DEBATE, TOO CHICKEN

Definition of a Tea Partier- GOP that is trying to distance themselves from Bush/GOP policies, while doing everything to maintain them.

I guess in the repubs thinking, taking the costs of the wars out of the budget would be disingenuous, since they never included the cost of the wars in the budget. They just added them as supplemental spending every time the money ran out.
The sad part of all this is the fact that a default by the US is a win for AlQaeda. They knew they could not destroy America’s military might. But, following the collapse of the USSR. They knew that drawing us into multiple wars that we would fund by borrowing money would ultimately destroy us financially. Why else do you think they planned an attack on us when we had a weak minded cowboy in charge. Because they knew we would dive in with both feet without understanding to consequences. Osama may be gone but he still may be winning the battle.

David im sure if one of those plans would just put a little effort on the backs of the rich and not all on the backs of seniors and average americans obama would gladly sign it.dont be just another dead set republican look at real life

Which party is the friend of big business??? — Look what Obama’s friend, Jeff Immelt is doing!! — The White House advisor on “JOBS” is arranging for General Electric Co.’s health care unit, the world’s biggest maker of medical imaging machines, is moving the headquarters of its 115-year-old X-ray business to Beijing. “A handful’’ of top managers will move to the Chinese capital and there won’t be any job cuts, said Anne LeGrand, general manager of X-ray for GE Healthcare. The headquarters will move from Wisconsin amid a broader plan to invest about $2 billion across China, including opening six “customer innovation’’ and development centers.

David, why can’t we say CORRECTLY, every word you just used, except swap the Obama references, and insert “GOP”, then, visa-versa?

The only reason Bohner is changing his plan is because its including the bogus cuts for ending the war that Reid put into his plan. Therefore Boehners plan includes more cuts than Reids. Apparently most of you were asleep months ago when our government was shutting down under Harry Reid’s and the Obama administrations stewardship. It was Bohner who kept the government open and soldiers and federal employees getting their paycheck – not the democrats!

Senate… you get $1Trillion of your “cuts” by counting less war costs??? — “SPENDING CUTS”!??!?!? — So if you did NOTHING… wouldn’t those costs be figured into future budgets anyway??

I haven’t paid this much attention because I know that they are going to do what THEY want. My question is, why don’t they cut their own salaries? I doubt very seriously that all the people in Washington are actually doing what they were elected to do, and that is be the voice of the people, not themselves. They have their own agendas and plans and that’s what they’re going for. They need to be the ones cut. Imagine all the money that could be saved if they weren’t paid so much. Don’t cut Social Security to the people that earned it and depend on it. And do not cut the military who are defending our freedom to be a free country and allow us to vote. Their dedication give us the right to vote which puts our country leaders in their positions. If our country’s leaders want to keep their jobs, allow our warriors to continue to defend our freedom.

LOOK AT THESE POSTS!!! I’M SADDENED! AMERICANS ATTACKING EACH OTHER, CALLING EACH OTHER NAMES! THIS IS A DISGRACE! WE ARE THE “UNITED” STATES OF AMERICA….THERE IS BLAME ON ALL THREE FACTIONS…DEMOCRATS…REPUBLICANS…AND PRESIDENT OBAMA….I AM 69 YEARS OLD AND AM SICKENED BY WHAT I AM SEEING HAPPENING TO THIS GREAT COUNTRY…A COUNTRY THAT MY HUSBAND FOUGHT AND DIED FOR! ENOUGH OF THIS….WE NEED TO WORK TOGETHER…FORGET ALL THE ATTACKS!
JEAN BOURGEOIS

David, the post”Definition of a Tea Partier- GOP that is trying to distance themselves from Bush/GOP policies, while doing everything to maintain them.” was NOT aimed at you.

@Tim I have not seen any plan where the GOP wants to cut social security or medicare. Do you have a link you can share?

TIM — You said “the rich needs to pay a little more taxes” — I think the progressives have achieved major success in “socking it to the rich” over the last 30 years!! — In 1980, when the top income tax rate was 70%, the richest 1% paid only 19% of all income taxes… In 1990, the richest one percent paid 25% of all income taxes… in 2005 it was 39%… In 2010 the CBO said they paid 40% of all income taxes!!!

Give me a Break | Jul 27, 2011 12:03:07 PM posted: “We overspend $1.4 trillion a year. The Senate wants to save $2.2 trillion over the next ten years. This means at the end of ten years we are $11.8 trillion deeper in debt. How is this a solution to the problem?”
It’s not. See, the reason we got here is because of a combination of over spending AND lost tax income. Our nation will also need to raise taxes.
But since most neo-Libertarian Republicans pledged allegiance to Grover Norquist’s lobbying outfit to never raise taxes, that’s the only card they can play. Cut cut cut.
Meanwhile, tax.com estimates our nation could pay down $1 TRILLION every single year by eliminating certain tax loopholes – and we could even reduce the corporate tax rate while we are at it. Seems like a sensible solution to a majority of us. Just not the neo-Libertarian Republicans.

The real news today is from CBS NEWS reporting on Operation Fast & Furious. They have linked not only AG Holder, but 0bama as well, with knowledge (and possibly authorizing) of this idiotic and murderous operation. People have died from this ridiculous attempt by the libs to force gun control in the US. It backfired…just like everything else this administration has done.

Freedom | Jul 27, 2011 11:29:28 AM
…”The report doesn’t mention the cuts don’t start until years later, his cuts are not real cuts but savings from getting out of the wars.”….And nothiong binds a subsequent Congress to the current commitments (other than specific laws passed.)

Some here would have you believe that President Obama caused all of our problems. The fact is that Pres. WJ Clinton left GW Bush 230 billion dollar surplus, and W left president Obama a 12.86 trillion dollar deficit (after the 2009 budget — W’s last):
Some would say that fed spending is out of control (not so much):
The ideologues on the right don’t want you to see this chart:
The fact is that the tax burden is lower now than at any point in the modern era, and corporations are making record profits at the same time that they move jobs overseas and capture capitol from the working class and move it upward:
The Republicans have their talking points, but President Obama and the Congressional Democrats have the facts and the history of Republican misrule to prove it.

green.goddess | Jul 27, 2011 12:29:27 PM
…”the reason we got here is because of a combination of over spending AND lost tax income.”….What lost tax income. In 2005 and 2006, we took in RECORD amounts of tax revenue and would have boken the record again in 2007 had it not been for the morket drop starting in Oct 2007. Just more proof that when you lower the tax rate (within reason), the tax revenues increase. This is similar to gasoline prices in that the higher gas prices go, the less people drive.

greengoddess —- You said “a tiny percentage of the wealthiest Americans have been accumulating MOST of the income” —– poppycock… where did you get “MOST” from??? —- It is a sad fact that those in poverty are affected the most in a recession… but it happens every recession!! — Please tell me WHEN there hasn’t been a “wealthy class” with the most “economic power” in our country or any country…. and please tell me statistically how it is different today measured against other times of major recession!!

Posted by: deanbob | Jul 27, 2011 2:36:42 PM posted: “What lost tax income. In 2005 and 2006, we took in RECORD amounts of tax revenue and would have broken the record again in 2007 had it not been for the market drop starting in Oct 2007.”
Unfortunately, the Bush era housing bubble tax revenues were NEVER enough to cover the TRILLIONS in debt borrowed at the same time.
Today that combination of missing taxes + borrowing for two pre-emptive wars are the top 2 contributors to our national debt.
WORSE, instead of paying for government war spending with higher tax revenues, the national debt has accumulated INTEREST on those Trillions we borrowed.
And today the debt also added other source of “lost tax income” – the millions of unemployed people who no longer contributed taxes after our nation fell into the Recession in 2007.

greengoddess — So if the income earned by the top 5% or earners is 19% or 24% of all total income…. what is that to you?? — Are you jeolous?? — Where should the figure be?? — Are you going to tax them until they don’t want to live here anymore?? — If they don’t pay more are you going to get out the gillotines?? –What happens when you run out of OTHER PEOPLES MONEY??? —– This is all progressive “class warfare” —- always appeal to the poor’s basic envy… but never really help them!!

Common Sense (What irony) posted this Liberal Spin: “Some here would have you believe that President Obama caused all of our problems. The fact is that Clinton left Bush 230 billion dollar surplus, and W left president Obama a 12.86 trillion dollar deficit (after the 2009 budget — W’s last):
Some would say that fed spending is out of control (not so much):
The ideologues on the right don’t want you to see this chart:
The fact is that the tax burden is lower now than at any point in the modern era, and corporations are making record profits at the same time that they move jobs overseas and capture capitol from the working class and move it upward:
The Republicans have their talking points, but President Obama and the Congressional Democrats have the facts and the history of Republican misrule to prove it.
////////HEY Common…. Its amazing that you got EVERY point WRONG..
A. The US Treasury says that Clinton NEVER had a Surplus.
B. While the deficit did get smaller after 1995 while Clinton was Pres that is a coincident. Starting Jan 2005 Conservatives took the House and started the Contract With America. This called for NUMEROUS changes to government and taxation. THOSE changes are what caused the improvement in our financial situation. Clinton fought it EVERY step of the way. The Government was even shut down before Clinton finally caved in and agreed to common sense. What hubris for Liberals to post EVERY day that Clinton was a savior of our economy. Clinton and the Dems WERE the problem. Conservatives and limited government was the solution.
C. How could Bush leave a 12 trillion dollar deficit? The entire national debt at the end of his term was just some 10 trillion? AMAZING how brazenly you Liberals LIE.
D. Finally no one said Obama caused “ALL our problems”. Nice try at a straw man argument. What Obama and the Dems have caused is the following. 5 Trillion in new debt so far, Massive unemployment from his Socialist policies, deflated housing from Liberals messing with the housing market, Huge devaluation in the dollar from HIS reckless spending for quantitative easing parts 1 and 2, A big run up in Commodity prices like oil partly due to the devalued dollar and also due to his ILLEGAL drilling ban in the Gulf of Mexico (TWO Federal Judges have said so), loss of over 250,000 jobs just in the Gulf area due to his ILLEGAL drilling ban in the Gulf, ObamaCare and its associated pack of lies along with the 2.4 trillion in added costs to make Socialized medicine a reality here for the Socialist In Chief, Operation Fast and Furious which resulted in the murder of an American Border Patrol Agent to satisfy Obama’s anti-gun fetish, (by the way when do we start the trial for “high Crimes and misdemeanors?”)
So lets review. Bush left and had around 10.8 trillion in debt. Obama has us now at 15 Trillion. He wants another 2.5 trillion or so in new debt just to get us through the end of next year. Add the TRUE cost per the CBO on ObamaCare and we need to borrow ANOTHER 2.4 trillion. That means in just 4 years OBAMA has added 10 trillion dollars to the national debt. JUST the interest on the curse known to us as Obama’s Regime will run some 500 Billion per year. EVERY YEAR. Now that is what Liberalism has done.

greengoddess — and on top of Richards post….. you have to realize that the tax rate is a “starting number”… then you have deductions, etc! — So a more accurate picture of what is happening… is the % of total taxes being paid by the top 5%! — What does it matter what the tax rate is (lowest in decades!) if the true % is much higher?? — Remember… In 1980, when the top income tax rate was 70%, the richest 1% paid only 19% of all income taxes… In 1990, the richest one percent paid 25% of all income taxes… in 2005 it was 39%… In 2010 the CBO said they paid 40% of all income taxes!!! —– So you progressives have gotten what you wanted for the last 30 years!!!