Posted by Tina
But it was just a bunch of crazy radical Republicans, right?
Nope!
A group of 36 senators from both parties came together Thursday to pledge support for a comprehensive deficit reduction plan, urging the special congressional committee working on the issue to “go big.”
The senators, who represent more than a third of the chamber, urged the committee to surpass its mandate to cut $1.5 trillion. The senators made clear that they endorse reforming the tax code and popular entitlement programs such as Medicare, the government-run health plan for senior citizens, as well as cutting spending to shrink federal deficits and national debt.
Steven Hayward of Powerline reports that Democrat Senator Ron Wydon of Oregon actually invoked Reagan and the 1986 tax reform.
Well those congress critters are bound to scratch and fight and disagree as always but this news indicates a definite (desperate) shift in thinking. That should make your coffee go down a little easier on a Saturday morning.
Could the tide be turning in favor of the American people at last? Hayward also discloses Feinstein’s polling 60% to the negative in California…C-a-l-i-f-o-r-n-i-a!
Can you dig it? I knew that you could!
Well if this works, Then it is one small step for politicians and one giant step for Tax Payers. Hummm, seems I heard something like that before, but I have spaced it out!
So I looked up the article to see which Dem’s and how many were part of the 36 Senators and found this quote from Nancy Pelosi, who is against this entitlement reform stated 100%:
You cant just say were going to have reforms that are going to lower the corporate rate which I would fully support unless you have enough reform to reduce the deficit, too, because if you dont otherwise all the reduction of deficit will have to come out of the cut side and I just dont think that thats fair nor part of the balance that the American people are seeking.
Another one of her less than well presented comments, I guess if we READ into this quote more we’ll figure out what she really is trying to CYA regarding her problem of overspending. Or maybe we can help her figure it out on her own (unlikely) by sending in a list of SPENDING bills she as squeaker of the house promoted to passage.
Harold I’ve been busy all day with other matters on and off the blog but wanted you to know both of these comments put a big ol’ happy face smile on my face this morning…you’re quite the humorist!
Entitlement reform is in the works, and Nancy will come round.
Other things are also in the works, banking reform, for instance.
The last time we were in this fix, right after WWII, we got out very quickly … by first, defaulting on war bonds, and second, by jacking up the upper tax rates.
It’s more complicated this time, because the bad debt isn’t held by the government, but by assorted private banks … which is where the banking reform comes in.
See, retail banks should never have been allowed to get in on the investment side (a Reaganomic innovation). The impending banking reform consists largely of the banks cutting off their investment side into separate entities … which will promptly go bust … thereby preserving ordinary depositors’ accounts … and the bank … sort of.
Woe betide thee who have money in mortgage-backed securities … for lo, it is no more.
And I will be working well into my 70s.
Bummer.
So Libby, whats the upside? lol
The upside is that I will probably live well into my 80s, on a little rural plot, with a sheep for my spinning wheel and a vegetable garden, all funded by social security.
And maybe, this time, we can finally get out of the bubble and burst thing, so dear to the heart of the capitalist.
Well Libs I hope you find that little place in the sunshine. But, it’s not the capitalists per se causing those bubble and burst events, it’s shady people who did terribly evil things that should have got them sent to jail. There was a lot of criminal wrongdoing in the real estate bubble and I bet the people that actually got convicted of theft could be numbered on both hands. Capitalism like any other ism, can’t work if its infested by crooks. Oh, and your big government was in charge of the oversight that could have stopped it. That’s just more insult on injury.
“But, it’s not the capitalists per se causing those bubble and burst events ….”
Of course it is. All these criminals were capitalists first. Face it.
And again with the “evil”! There’s no evil in it, just human nature, license and opportunity … aka capitalism.
And there is indeed no stopping, but there is mitigating, only there hasn’t been, for many, many years, because Bushco (and Clinton) ripped the lid off, and don’t you dare deny it!
Libby, do you hear yourself, “…they were all capitalists first then they became crooks.” How is that any different than saying not all Muslims are terrorists, but all terrorists are Muslims? It may be a fact, but do you really want to indict all Muslims like you indict all capitalists?