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Slowly and Surely?
Author: Raine    Date: 02/14/2013 13:44:33

Breaking news this morning from CBS:
February 14, 2013 7:05 AM CBS News has learned that the Senate Democrats' long-awaited plan to avert the sequester, being announced by Sen. Patty Murray, D-Wash, Thursday, would replace the 10-year sequester for the rest of 2013 -- 10 months -- with $120 billion in spending cuts and new tax revenue, split 50-50.

Most of the revenue would come from implementing what's known as the Buffett Rule, named after investor Warren Buffett. The rule would cap deductions and loopholes for millionaires so they pay at least 30 percent of their salary in taxes. Senate Democrats tried and failed to pass the Buffett Rule last year.

The spending cuts would come from eliminating agriculture subsidies and from trimming the defense budget, though not as drastically as the sequester would.
The reality is this, March 1 is two weeks away, and to make matters worse, Congress isn't in session next week.

You'll note that on Tuesday Night during his State of the Union Address, President Obama took his case directly to America:
In 2011, Congress passed a law saying that if both parties couldn’t agree on a plan to reach our deficit goal, about a trillion dollars’ worth of budget cuts would automatically go into effect this year. These sudden, harsh, arbitrary cuts would jeopardize our military readiness. They’d devastate priorities like education, energy, and medical research.They would certainly slow our recovery, and cost us hundreds of thousands of jobs. That’s why Democrats, Republicans, business leaders, and economists have already said that these cuts, known here in Washington as “the sequester,” are a really bad idea.

Now, some in this Congress have proposed preventing only the defense cuts by making even bigger cuts to things like education and job training; Medicare and Social Security benefits.

That idea is even worse.
Going back to the basic proposal the Democrats will be unveiling today it is important to note that in 2011 - during the supercommittee debacle - the President offered his own deficit reduction plan. I've mentioned it before.
What’s in it?

Well, $1.5 trillion of it is higher taxes. About half of that is the expiration of the “rich people only” portion of the Bush tax cuts. The rest comes from closing loopholes and for the proposed new millionaire’s minimum tax so that high-income individuals won’t be paying lower marginal rates than the middle class.

Then you have about $1 trillion in war savings as the fighting winds down in Iraq and Afghanistan.

Last, you have the domestic spending element. That includes changes worth $248 billion to Medicare and $72 billion to Medicaid which the administration is promising fall on providers rather than patients and don’t involve any deep changes to the basic nature of the programs... There are also some other domestic spending cuts, worth about $200 billion...

the “other” cuts, which are as follows:
— $33 billion from agriculture subsidies.
— $42.5 billion from Federal employee retirement benefits, on both the civilian and military side.
— $4.1 billion from the disposal of unused government assets.
— $92.2 billion from restructuring government operations and reducing government liabilities.
— $77.6 billion from improving Federal program management and reducing waste and abuse.
The Democratic package replaces the 10-year sequester for the rest of 2013 -- 10 months -- with $120 billion in spending cuts and new tax revenue, split 50-50.. With that in mind, it's important to remember that since the President proposed his deficit reduction plan in 2011, much of Bush tax cuts were turned back, thus raising roughly $600 billion in new revenues over 10 years. We have been winding down the wars in Iraq and Afghanistan. Truth be told, since 2011, many of these deficit reduction proposals have been put into place. This is from October 2012:
Policymakers have already enacted about half of Bowles-Simpson’s nearly $2.9 trillion of program cuts. Because of the caps on discretionary funding in last year’s Budget Control Act (BCA), discretionary spending will be $1.5 trillion lower over 2013-2022 than under the Congressional Budget Office’s August 2010 baseline (the baseline in use when the Bowles-Simpson commission deliberated). Including the associated interest savings, the total budget savings reach $1.7 trillion.

The majority of the savings in Bowles-Simpson that haven’t yet been achieved is on the revenue side. Excluding the enacted savings, the Bowles-Simpson plan would achieve an additional $4.6 trillion in deficit reduction over ten years, consisting of $1 in program cuts for every $2 in revenue increases.
It's clear to me that the GOP is in a corner again. Quietly, the President has been reducing the deficit, probably too quietly, but what is happening here is that his economic agenda is being achieved. We've had many of the cuts, it is time to raise some more revenue -- and that is what the Democrats are proposing this morning. Yes, it is kicking the can down the road, but with one week left I don't know what else can be done unless the GOP decides to follow their pattern of disaster politics and let the sequester happen.

This should be an interesting week.


and
Raine

71 comments (Latest Comment: 02/15/2013 03:52:24 by Will in Chicago)
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Comment by Mondobubba on 02/14/2013 13:57:50
Grump!

Comment by TriSec on 02/14/2013 14:03:07
Morning, comrades!


Comment by trojanrabbit on 02/14/2013 14:07:20
Morning.

Already on
I never have a second cup of coffee at home....

Comment by Raine on 02/14/2013 14:12:59
Good morning!

Comment by Raine on 02/14/2013 14:16:46
Oh and Lindsey Graham? you are a poopy head
South Carolina Republican Sen. Lindsey Graham does not plan to ease up on his campaign to stall President Barack Obama's national security nominees. On Wednesday, Graham called on Democrats to join him in seeking more information about details surrounding the deadly attack on an American compound in Benghazi, Libya, in September.

"If this was a Republican president, I gauran-damn-tee ya there'd be a lot of Democrats doing a lot more than I'm doing. And you know what? They probably should," Graham said at a Capitol Hill press conference. "I think Democrats had no problem doing that with Bush and, quite frankly, they did the country a service by probing into failures. I'm going to do the same."


Comment by Raine on 02/14/2013 14:19:26
And Nancy Pelosi rawks...
CNN's Chris Cuomo clarified: "You think the speaker is projecting onto the president his own failure?"

"Exactly," Pelosi said. "Because he hasn't been able to deal with his own party. There isn't anything that he passed that we haven't' delivered the votes for him that has been job-creating."


Comment by wickedpam on 02/14/2013 14:23:19
Morning

Hair that won't do anything and crappy traffic for the morning commute - let the day of suck begin

Comment by Mondobubba on 02/14/2013 14:38:42
Grammar fail of the day (so far): Congenital Heart Walk

This is the subject line of an email I received.

Comment by Mondobubba on 02/14/2013 14:45:15
Quote by wickedpam:
Morning

Hair that won't do anything and crappy traffic for the morning commute - let the day of suck begin


Yuuuuup!

Comment by Mondobubba on 02/14/2013 14:47:38
Quote by Raine:
Oh and Lindsey Graham? you are a poopy head
South Carolina Republican Sen. Lindsey Graham does not plan to ease up on his campaign to stall President Barack Obama's national security nominees. On Wednesday, Graham called on Democrats to join him in seeking more information about details surrounding the deadly attack on an American compound in Benghazi, Libya, in September.

"If this was a Republican president, I gauran-damn-tee ya there'd be a lot of Democrats doing a lot more than I'm doing. And you know what? They probably should," Graham said at a Capitol Hill press conference. "I think Democrats had no problem doing that with Bush and, quite frankly, they did the country a service by probing into failures. I'm going to do the same."



Let the c*&k punching begin!

Oh oh oh! Frontline is must watch this week. It discusses the Boner's Eric Cantor problem. Apparently poor wittle Eric felt insulted by the mean, scary black man who's president, which is why he's undermining the Boner at every turn.

Comment by Raine on 02/14/2013 14:53:32
What the hell?

Comment by wickedpam on 02/14/2013 14:53:57
what the hell is she talking about?

Comment by Raine on 02/14/2013 14:55:43
Quote by wickedpam:
what the hell is she talking about?
I have no idea. She is off her rocker today.


Comment by wickedpam on 02/14/2013 15:04:26
Quote by Raine:
Quote by wickedpam:
what the hell is she talking about?
I have no idea. She is off her rocker today.



she's off her rocker every day

Comment by Scoopster on 02/14/2013 15:07:07
Comment by Mondobubba on 02/14/2013 15:31:30
Beer and murder killed the blog?? Hurrah, long live the blog!

Comment by wickedpam on 02/14/2013 15:37:07
sorry - took tomorrow off so I'm slammed with work today - didn't help I got stuck in traffic and was late by 30 minutes

Comment by wickedpam on 02/14/2013 15:37:25
Reading much Gerald

Comment by Mondobubba on 02/14/2013 15:40:37
Quote by wickedpam:
sorry - took tomorrow off so I'm slammed with work today - didn't help I got stuck in traffic and was late by 30 minutes



As you said, let the suck begin!

It is rainy and depressing here today

Comment by wickedpam on 02/14/2013 15:43:18
Quote by Mondobubba:
Quote by wickedpam:
sorry - took tomorrow off so I'm slammed with work today - didn't help I got stuck in traffic and was late by 30 minutes



As you said, let the suck begin!

It is rainy and depressing here today


at least its probably warm


Comment by Mondobubba on 02/14/2013 15:53:05
Quote by wickedpam:
Quote by Mondobubba:
Quote by wickedpam:
sorry - took tomorrow off so I'm slammed with work today - didn't help I got stuck in traffic and was late by 30 minutes



As you said, let the suck begin!

It is rainy and depressing here today


at least its probably warm


Warmish, I guess. Damp and low 50s= yuck

Comment by Mondobubba on 02/14/2013 15:56:56
New rule. When a cute girl in a short skirt offers you a brownie, say yes.



Comment by wickedpam on 02/14/2013 15:59:04
Quote by Mondobubba:
New rule. When a cute girl in a short skirt offers you a brownie, say yes.




see, your day is looking up

Comment by BobR on 02/14/2013 16:04:18
Quote by Scoopster:
Mornin' all..

Bobber I found your next project!

We've been discussing this in our homebrew group. Very cool!

Comment by BobR on 02/14/2013 16:05:31
It's the rapture! Jesus seen in dog's butt

http://images.dangerousminds.net/uploads/afiles/buttholedog1sdfsd.jpg


It's the Father, the Son, and the Holey Sphincter


Comment by Mondobubba on 02/14/2013 16:07:47
Quote by wickedpam:
Quote by Mondobubba:
New rule. When a cute girl in a short skirt offers you a brownie, say yes.




see, your day is looking up



It was a tasty brownie too. Nutella.

Comment by Scoopster on 02/14/2013 16:09:09
My turn! So-called "responsible gun owner" commenting on my FB feed.

Comment by Mondobubba on 02/14/2013 16:09:11
Quote by BobR:
It's the rapture! Jesus seen in dog's butt

http://images.dangerousminds.net/uploads/afiles/buttholedog1sdfsd.jpg


It's the Father, the Son, and the Holey Sphincter



I will still need a vat of eye bleach though.


Comment by wickedpam on 02/14/2013 16:12:35
Quote by Mondobubba:
Quote by wickedpam:
Quote by Mondobubba:
New rule. When a cute girl in a short skirt offers you a brownie, say yes.




see, your day is looking up




It was a tasty brownie too. Nutella.



yum

I'm feeling the need to bake this weekend I think


Comment by Raine on 02/14/2013 16:18:55
Quote by Mondobubba:
Quote by BobR:
It's the rapture! Jesus seen in dog's butt

It's the Father, the Son, and the Holey Sphincter



I will still need a vat of eye bleach though.
If that didn't cheer you up, nothing will.




Comment by trojanrabbit on 02/14/2013 16:22:00
The EE group is getting "taken out" to lunch in a few minutes. Hope my rumbly tumbly tummy will settle down.

Comment by Raine on 02/14/2013 16:37:21
Scoop, for you:





Happy Valentines day!


Comment by Mondobubba on 02/14/2013 16:38:40
Quote by Raine:
Quote by Mondobubba:
Quote by BobR:
It's the rapture! Jesus seen in dog's butt

It's the Father, the Son, and the Holey Sphincter



I will still need a vat of eye bleach though.
If that didn't cheer you up, nothing will.





Yeah it does. So does this: Love isn't dead. Here's proof.

Comment by wickedpam on 02/14/2013 16:39:15
Hey, I can learn me some Spanish on the Chrome!

Comment by Scoopster on 02/14/2013 16:39:29
Awwww Raine!

That will go well with my earlier session.

http://www.freeimagehosting.net/newuploads/m1yye.jpg


Comment by wickedpam on 02/14/2013 16:41:16
hey doof, I don't want you protecting me. I pay taxes so I have the police and military to protect me.


idiots

Comment by Raine on 02/14/2013 16:49:45
Comment by Mondobubba on 02/14/2013 16:56:50



WTG Rubio. Make the gaff lemon into lemonade.

Comment by Raine on 02/14/2013 16:57:36
Quote by Mondobubba:
Yeah it does. So does this: Love isn't dead. Here's proof.
That is sweet.


Comment by livingonli on 02/14/2013 17:00:27
Good day, folks. Only with the GOP would you pay 25 bucks for a plastic water bottle. I just re-use the ones I buy until they wear out and then get new water bottles to re-use.

Comment by wickedpam on 02/14/2013 17:29:24
Quote by livingonli:
Good day, folks. Only with the GOP would you pay 25 bucks for a plastic water bottle. I just re-use the ones I buy until they wear out and then get new water bottles to re-use.



that' pretty much what I do too

Comment by Mondobubba on 02/14/2013 17:30:46
Comment by Mondobubba on 02/14/2013 17:39:49
Quote by livingonli:
Good day, folks. Only with the GOP would you pay 25 bucks for a plastic water bottle. I just re-use the ones I buy until they wear out and then get new water bottles to re-use.



That's a steel water bottle there, Sparky.

Comment by Mondobubba on 02/14/2013 17:45:33
Comment by Mondobubba on 02/14/2013 17:46:19
Comment by livingonli on 02/14/2013 17:46:47
Quote by Mondobubba:
Quote by livingonli:
Good day, folks. Only with the GOP would you pay 25 bucks for a plastic water bottle. I just re-use the ones I buy until they wear out and then get new water bottles to re-use.



That's a steel water bottle there, Sparky.

Still wouldn't spend 25 bucks on it.

Comment by Mondobubba on 02/14/2013 17:47:33
Tri, I dunno about you, but I expect great things from the AA USAir merger.



Comment by Mondobubba on 02/14/2013 17:48:29
Quote by livingonli:
Quote by Mondobubba:
Quote by livingonli:
Good day, folks. Only with the GOP would you pay 25 bucks for a plastic water bottle. I just re-use the ones I buy until they wear out and then get new water bottles to re-use.



That's a steel water bottle there, Sparky.

Still wouldn't spend 25 bucks on it.


You are:

1. Thrifty.
2. Not a massive Republican tool.

Of course you wouldn't.

Comment by Mondobubba on 02/14/2013 18:03:50
Jesus what the hell does Motel 6 have to with your site, Sparky?? !!!