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No big surprise

Tam

Well-known member
Gee who would have guessed the BI-PARTISAN Debt Commission releases their findings and the reaction was this

The commission is co-chaired by former financial advisor to President Clinton, Erskine Bowles, and former Republican Senator from Wyoming, Alan Simpson

Anticipating controversy, Simpson said, "We'll both be in a witness protection program when this is all over, so look us up."

Congressional Democrats were not amused.

"This proposal is simply unacceptable" said lame-duck House Speaker Nancy Pelosi, D-CA. "Any final proposal from the Commission should do what is right for our children and grandchildren's economic security as well as for our nation's fiscal security, and it must do what is right for our seniors, who are counting on the bedrock promises of Social Security and Medicare. And it must strengthen America's middle class families--under siege for the last decade, and unable to withstand further encroachment on their economic security."

Rep. Jerrold Nadler, D-NY, echoed the Speaker's sentiments.

"The recommendations released today in the Fiscal Commission's chairmen's mark are a recipe for economic disaster and social regression. With some exceptions, the recommendations read like the wish lists of right-wing conservatives for the last 50 years," Nadler said.

"Increasing the retirement age is a terrible idea and would lead to serious reductions in benefits when our seniors need them most," Nadler said. "It simply isn't necessary to tinker with Social Security, which will be solvent for the foreseeable future and adds nothing to the federal deficit."

Nadler condemned the proposal as "kowtowing to the ranks of the billionaires' club."

Congressional Republicans, who will take over control of the House in January, were cautiously optimistic.

"We appreciate Alan Simpson and Erskine Bowles for their leadership on the Fiscal Commission, and their shared commitment to help address our pressing fiscal challenges," said GOP Reps. Paul Ryan, WI, Jeb Hensarling, TX and Dave Camp, MI, in a joint statement. "This is a provocative proposal, and while we have concerns with some of their specifics, we commend the co-chairs for advancing the debate. We will continue to work toward solutions that help spur economic growth and restrain the explosive growth of government spending."

AFL-CIO President Richard Trumka ripped the report.

"The chairmen of the Deficit Commission just told working Americans to 'Drop Dead,'" Trumka said in a release. "Especially in these tough economic times, it is unconscionable to be proposing cuts to the critical economic lifelines for working people, Social Security and Medicare. Some people are saying this is plan is just a 'starting point.' Let me be clear, it is not."

But Maya MacGuineas, president of the Committee for a Responsible Federal Budget, called the propsal "most encouraging."

"It is truly a remarkable plan," MacGuineas said. "This plan does it all - allows time for the economy to strengthen, brings down future deficits and debt, protects the most disadvantaged, makes government more effective and efficient, and promotes economic growth and competiveness."

"It's great to see debate among the fiscal commission's members now centering on a bold proposal that addresses each area of the budget," MacGuineas said. "While certainly not everyone will agree with each and every recommendation, the proposal certainly would fix our fiscal problems and truly reflects a balanced compromise across party lines."

BIG SURPRISE MS. Lame Duck Loser Pelosi can't stand the thought of anything BI-PARTISAN. :roll: Who would have guessed with her record of Bi Partisanship :wave:
 

hypocritexposer

Well-known member
"This proposal is simply unacceptable" said lame-duck House Speaker Nancy Pelosi, D-CA. "Any final proposal from the Commission should do what is right for our children and grandchildren's economic security as well as for our nation's fiscal security, and it must do what is right for our seniors, who are counting on the bedrock promises of Social Security and Medicare. And it must strengthen America's middle class families--under siege for the last decade, and unable to withstand further encroachment on their economic security."

Tuesday, October 12th, 2010

Based on inflation Social Security will get no COLA for 2011 according to the Obama Administration. The recipients 58 million of Social Security will get no cost of living increase for the second year in a row.

http://www.rightpundits.com/?p=7433








Medicare Advantage plans, which cover nearly 25% of Medicare seniors, will be cut in half over the next ten years due to ObamaCare freezing payment to the plans.

Some $416.5 billion in "savings" from Medicare (actually, cuts in Medicare payments to doctors and hospitals) is being shifted from shoring up Medicare funding to paying for ObamaCare.[37]

http://www.safehaven.com/article/18881/the-effects-of-obamacare


How can anyone continue to vote for Democrats?
 

Tam

Well-known member
I figured out why Pelosi thinks the Fiscal Commissions recommondations are unexceptable. :wink: One of the suggestions is to cut travel expenses. Less face to face and more teleconferencing. I see Obama having a big problem with this one too, no more flying off the California to be on Late Night TV and no more signing bills in the Rockies. The DNC might have to pay to get the Dude to fund raise for them instead of free air fare on Air Force One.
 

Tam

Well-known member
Sandhusker said:
And Pelosi's recommendations are....?

Spend your way out of debt. And if that doesn't work SPEND BIGGER AND FASTER. And when the Voters revolt through a party :wink:
 

Steve

Well-known member
Bipartisan Commission On Federal Debt Reveals Plans To Cut $4 Trillion From Deficit

A draft proposal to be released Wednesday by the chairmen of President Obama’s bipartisan commission on reducing the federal debt, plans for nearly $4 trillion removed from projected deficits by 2020

4 trillion? don't get me wrong.. spending is out of control.... but $ 4 trillion in cuts in ten years????

True Cost of Stimulus: $3.27 Trillion

the true 10 year cost of the stimulus bill $2.527 trillion in in spending with another $744 billion cost in debt servicing. Total bill for the Generational Theft Act: $3.27 trillion.
http://blog.heritage.org/2009/02/12/true-cost-of-stimulus-327-trillion/

Estimated Total Costs of Bailout

* Fannie and Freddie bailout = $700 billion

# Federal Reserve's increased printing of money to fund purchase of mortgage securities in market and bad assets from banks (which directly leads to an equal amount of inflation, a hidden tax on consumers and savers) = $2 trillion.

# Eventual FDIC losses = $500 billion.

# Credit union guarantees = $50 billion.

# Present value cost of lost interest income to US retirees and other savers due to government's zero interest rate policy = $2 trillion.

# Present value cost of additional high unemployment and lost wages caused by government's focusing on bank and Wall Street profitability first, rather than on job creation = $5 trillion.

# Total loss in housing values due to inappropriate response to overbuilding and high foreclosure problem = $4 trillion (a fraction of the total housing value loss of10 trillion, much of which was necessary to return to non-bubble levels).

# Cost of future bad loans created since 2008 by Fannnie, Freddie and FHA by continuing to lend aggressively into declining real estate markets = $300 billion.

# Wasted stimulus money (Where exactly did this money go and what do we have to show for it?) = $300 billion.

# Total estimated cost of government bailout = $14.85 trillion.

Obamacare costs ???

The Senate Budget Committee staff estimates the Senate bill’s cost at $2.3 trillion over ten years when fully implemented.

so maybe they shouldn't have spent it in the first place... but to think cutting 4 trillion is a plan after wasting a trillion on a stimulus... after they just spent ... trillions... and trillions ( over 20 trillion in new Democrat debt) like it was water..

but now they have the gall to place the cost on SS and medicare?
 

Lonecowboy

Well-known member
Steve- read carefully


nearly $4 trillion removed from projected deficits by 2020

deficit and debt arew not the same thing

deficit is the difference between what they take in and what they spend in a fiscal year- so yes deficits add to the debt- but this plan does nothing to subtract from the debt- only the deficit!

The national debt will still be over 100 trillion with SS and medicare factored in.
100% of all the federal income tax doesn't even service the intrest on the national debt now

they have dug a hole that there is only one way out of- print money and cover this debt with worthless paper. then $4 Trillion will be nothing, because that is what will be backing it up-nothing!
 

hypocritexposer

Well-known member
33. Require food processing facilities to finance food safety and inspection services.

Under current law, one inspector must be present at all times to sample and test products when a meat or poultry slaughtering plant is in operation. These inspectors are responsible for monitoring the processing plants daily adherence to sanitary, ingredient, and packaging regulations. Federal inspections benefit producers and consumers alike by preventing diseased animals and other unsafe products from being sold, but producers get the extra benefit of being able to advertise that their products passed USDA inspection. This option finances all federal inspections of meat and poultry products with fees paid by the processing facilities, thereby making the service paid for by those who use it. Implementation of this policy increases federal revenues by over $900 million each year.

Sounds good, but it will end up being a tax on the consumer, through the cost being added onto the product.
 

Steve

Well-known member
Lonecowboy said:
Steve- read carefully


nearly $4 trillion removed from projected deficits by 2020

deficit and debt arew not the same thing

deficit is the difference between what they take in and what they spend in a fiscal year- so yes deficits add to the debt- but this plan does nothing to subtract from the debt- only the deficit!

The national debt will still be over 100 trillion with SS and medicare factored in.
100% of all the federal income tax doesn't even service the intrest on the national debt now

they have dug a hole that there is only one way out of- print money and cover this debt with worthless paper. then $4 Trillion will be nothing, because that is what will be backing it up-nothing!

I understand deficit..

if they didn't spend,.. an extra trillion or two this year... it would have lowered this years deficit... which would not add to our debt...

but the cost of the programs I outlined have costs that span decades and add deficit each year... Trillions each year...

so I find it galling that they whine about the deficit and cutting a "measly 4 trillion" when they caused the deficit to increase substantially with their accomplishments, and now want to cut SS to make up the amount...

I guess what I was saying is simply put.. ...

STOP robbing SS to fund other programs... such as ObamaCare..
 

Steve

Well-known member
hypocritexposer said:
33. Require food processing facilities to finance food safety and inspection services.

Under current law, one inspector must be present at all times to sample and test products when a meat or poultry slaughtering plant is in operation. These inspectors are responsible for monitoring the processing plants daily adherence to sanitary, ingredient, and packaging regulations. Federal inspections benefit producers and consumers alike by preventing diseased animals and other unsafe products from being sold, but producers get the extra benefit of being able to advertise that their products passed USDA inspection. This option finances all federal inspections of meat and poultry products with fees paid by the processing facilities, thereby making the service paid for by those who use it. Implementation of this policy increases federal revenues by over $900 million each year.

Sounds good, but it will end up being a tax on the consumer, through the cost being added onto the product.

the fishing boats must pay for the cost of an inspector to ride with them,

the inspector often comes unprepared and on the smaller boats it means one less crew,..

the inspector often must be shown how to do his job,, and given the appropriate clothes to wear.. which cuts into productivity..

so yes.. the cost is passed on,.. by small fishing boats going out of business as only the bigger outfits can afford the cost and loss of productivity..

we lost on this week... another family and crew out of work..

government intrusions will eventually effect everyone. and not just as higher costs at the market...

the real cost is in jobs lost....................
 
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