Senate Kills Tea Party-Backed Bill On Debt

[nhboy]

LINK

"WASHINGTON -- Senate Democrats shut down the draconian “Cut, Cap and Balance” bill Friday, declaring their action would clear the way to get to a real deal to raise the debt limit and cut the deficit.

The Tea Party-backed measure ultimately aimed to pass a balanced budget amendment to the U.S. Constitution that would cap federal spending at 18 percent of the gross domestic product -- a level that Democrats argued excludes paying for Medicare and Medicaid.

As such, Democrats called it one of the worst pieces of legislation they've ever seen and shut it down, tabling it by a partyline vote of 51 to 46, with three senators missing the vote.

"Cut, Cap and Balance is now over. It's done, dead," Senate Majority Leader Harry Reid said just after the vote."

 

[BadGirl]

LINK

"WASHINGTON -- Senate Democrats shut down the draconian “Cut, Cap and Balance” bill Friday, declaring their action would clear the way to get to a real deal to raise the debt limit and cut the deficit.

The Tea Party-backed measure ultimately aimed to pass a balanced budget amendment to the U.S. Constitution that would cap federal spending at 18 percent of the gross domestic product -- a level that Democrats argued excludes paying for Medicare and Medicaid.

As such, Democrats called it one of the worst pieces of legislation they've ever seen and shut it down, tabling it by a partyline vote of 51 to 46, with three senators missing the vote.

"Cut, Cap and Balance is now over. It's done, dead," Senate Majority Leader Harry Reid said just after the vote."

What have they propsed instead?

I guess they fell on their swords for Obama, they did their parties duty, screw what the country needs...

 

[hvp05]

the draconian “Cut, Cap and Balance” bill

Gosh, that sounds familiar.

... various politicians and talking heads have called for “punishment” of the most draconian sort.

... Wisconsin Republicans finally found a way to push through their draconian labor bill stripping public workers of collective bargaining rights.

... back in Washington GOP Senators introduced a national "right-to-work" bill designed to make today's draconian red state restrictions on union organizing the law of the land tomorrow.

I thought Lefties were supposed to be the more intelligent ones, but their vocabulary is painfully limited.

 

[aps45819]

Gosh, that sounds familiar.

I thought Lefties were supposed to be the more intelligent ones, but their vocabulary is painfully limited.

That's a draconian assessment

 

[BOP]

1967 and 1979: Debt Ceiling Talking Points Were Same as We Hear Now

But I have these two things had to show you what a game we are in the middle of, to show you how we are being played, to show you how Washington -- both parties, both sides never, ever change. Although I really don't want to lump the Republicans into this like that because we now have circumstances which are unique and separate from any previous debate on this subject, because what's hanging in the balance is the country, and it's not an overstatement to say that. This is the New York Times News Service, January 30, 1967:

LBJ's "Secretary of the Treasury Henry H. Fowler told Congress today that the government would be unable to pay all its bill if the ceiling on the national debt was not lifted within 30 days. Fowler ran into Republican hostility in day-long testimony before the House Ways and Means Committee... Fowler asked that the ceiling be raised by $7 billion to $337 billion to cover the period until June 30. Further legislation covering the period after June 30 will be needed later he said. Fowler said that payments for such things as old age benefits, veterans pensions, public assistance benefits, tax refunds, and the salaries of government workers would be threatened if the ceiling were not raised."

I am reading to you from the New York Times 1967. It is identical other than the numbers to what we are being told today. "Fowler said unless the debt limit is increased by the end of February at which time our outstanding obligations would exceed that which we could legally borrow the possibility of an economic and monetary derangement will be a reality." This is 1967 and they were threatening default. In 1967 the Democrats told us it was a crisis. They created chaos. The Democrat handbook can be traced all the way back to 1967, LBJ's Treasury secretary. I have another example. Jimmy Carter's Treasury secretary, April 3rd, 1979: "The US House of Representatives passed legislation yesterday that extended the debt ceiling. It came after the House rejected a Republican-led attempt to tack on a strong amendment calling for a balanced federal budget."

Are you hearing this? 1979.

Ladies and gentlemen, we are being played for the biggest saps on the face of the earth. We are being insulted and treated like the biggest dolts. This is the way the Democrat Party has been doing things since at least '67.

You are looking -- very soon if this man gets his way on everything, and if there isn't any spending reform, and if there's no entitlement reform, and if there isn't any tax reform. This is the difference between 1967 and today. This is the difference between 1979 and today. To just service the debt, we're gonna add $13 trillion of debt the next ten years if Obama gets what he wants. A total aggregate national debt of $27 trillion in ten more years, and everybody is going to be paying a combined tax rate of 70%.