Supercommittee fails, spending limits kick in

[Nanker]

Actually, Obama got precisely what he wanted, and that makes Boehner an idiot. How stupid do you have to be to agree to the idea that six people hand-picked from each side will try to address the defifict before Thanksgiving, and if they fail, there will be massive cuts to the military? Apparently you only need to be Boehner-stupid.

 

Obama now has his 2012 narrative: the GOP refuses to cut military spending AND refuses to raise taxes on millionaires making over $200K a year, so the only way to address the deficit is to put the Democrats in control of the House, Senate and WH next year so we can get the job done without them standing in our way.

 

Political leaders lead. Everyone else diverts the public's attention with moronic logic.

 

Exactly. Most of the Dems on that panel were salivating at having the Defense budget cut and taxes raised if they only did nothing - and they happily did so.

The Republicans offered about 300 Billion in tax increases, but it wasn't enough for the Dems to go along with a true bipartisan compromise.

The only bipartisanship that President BO believes in is when the Republicans abdicate their position completely and join hands with him in locked-step marching to the beat of his drummer. Anything less and they're at fault for being intransigent.

[UConn James]

Exactly. Most of the Dems on that panel were salivating at having the Defense budget cut and taxes raised if they only did nothing - and they happily did so.

The Republicans offered about 300 Billion in tax increases, but it wasn't enough for the Dems to go along with a true bipartisan compromise.

The only bipartisanship that President BO believes in is when the Republicans abdicate their position completely and join hands with him in locked-step marching to the beat of his drummer. Anything less and they're at fault for being intransigent.

 

Yep and yep.

 

A cut'n'paste:

Why the U.S. was downgraded:

• U.S. Tax revenue: $2,170,000,000,000

• Fed budget: $3,820,000,000,000

• New debt: $ 1,650,000,000,000

• National debt: $14,271,000,000,000

• Recent budget cuts: $ 38,500,000,000

 

Let's now remove 8 zeros and pretend it's a household budget:

 

• Annual family income: $21,700

• Money the family spends annually: $38,200

• New debt on the credit card: $16,500

• Outstanding balance on the credit card: $142,710

• Total budget cuts: $385

 

Even if the annual income !@#$ing doubled (making just federal taxes close to 50% of total income) this shell game cannot continue. The cuts need to be made with zeal and Dems want to keep spending... or, continuing the household budget meme, take most of the money allocated for housing for the next 20 years and make a payment on the credit card with that, rather than giving up things like Starbucks, DirecTv and saffron-flaked escargot with a side of lobster and new potatoes and asparagus, and giving Juan and Steve down the street a hundred bucks each, because they're down on their luck and can't afford Starbucks. Entirely absent from the Democrat mindset is the connection that the family is not going to have anywhere to live. It's a complete divorce from reality.

[B-Man]

Sen. Pat Toomey says Dems torpedoed debt panel to protect Obama

By Jonathan Easley

 

Supercommittee member Sen. Pat Toomey (R-Pa.) accused Democrats on Monday of torpedoing the deficit supercommittee because a success would have “stepped on” President Obama’s campaign narrative.

 

Speaking Monday on CNBC’s "Squawk Box," Toomey said there’s “something to” suggestions that Democrats had an incentive to see the supercommittee fail.

 

“That goes to the asymmetry of the incentives and I think there was something to that,” Toomey said. “The president’s fundamental campaign message was to run against Congress — never mind the fact that half of Congress is controlled by the Democrats, but that’s his purpose, and certainly an agreement in this committee would have stepped on that narrative for the president.”

 

 

The Hill