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Boehner and Reid Spit Out Competing Proposals

Just to keep you up to date, both House Speaker John Boehner and Senate Majority Leader Harry Reid have put their plans on the table. The White House has fully embraced the Reid plan.

Here’s a short summary, courtesy of the Washington Post, of Boehner’s . . .

Boehner’s plan includes an immediate increase in the debt ceiling of up to $1 trillion that is paired with $1.2 trillion in cuts to discretionary spending over the next decade. A new, joint House-Senate committee of 12 lawmakers would then be mandated to to come up with another $1.8 trillion in deficit savings over 10 years by Christmas, receiving fast-track powers to guarantee up-or-down votes on their legislative product should they produce a plan that wins at least seven votes in their special committee.

If such a plan were approved, President Obama early next year would then be able to request up to $1.5 trillion in new borrowing authority, which Congress would only be allowed to block by a super-majority vote of disapproval.

And Reid’s . . .

Aides have said it would include cuts of up to $1.2 trillion over the next decade to government agencies, including the Pentagon. Democrats had previously offered to accept those savings, as well as about $200 billion in cuts to non-health direct-payment programs, such as farm subsidies. People familiar with the months-long search for a debt-reduction compromise said that hitting such a large target without raising taxes or cutting entitlement programs would probably require Reid to rely heavily on savings from ending the wars in Iraq and Afghanistan — a figure budget analysts said could easily amount to more than $1 trillion over the next decade.

Here’s part of the statement White House Press Secretary Jay Carney on Reid’s plan.

Senator Reid’s plan is a reasonable approach that should receive the support of both parties, and we hope the House Republicans will agree to this plan so that America can avoid defaulting on our obligations for the first time in our history. The ball is in their court.

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11 Responses to Boehner and Reid Spit Out Competing Proposals

  1. Whatever plan passes will receive an executive veto if it doesn’t have major tax increases. The question then arises that if the Republican House and Democratic Senate have been able to agree to a tax-free plan, would there be sufficient votes to override the veto? And if the veto were overridden, would this president just ignore the override? It wouldn’t be his first time to ignore a law he didn’t like.

    • He is just hell bent on the tax increase… we’ll hear about ‘paying your fair share’ ‘lookin’ out for the common man’….Hey, those are two good starters for a drinking game.

      But I’m getting off track. His goal is not to solve the debt/spending crisis. His goal is to raise taxes – WHY? Raising taxes won’t help solve the debt/spending problem (can’t get enough revenue and will impede stimulating the economy). But Johnny-One-Note keeps singing the same song; it makes no sense at all.

      Another phrase for the drinking game ‘The ball is in your court’ (directed to the Republicans). Anyone else have phrases that we’ll hear tonight?

  2. What is this “House/Senate” committee? Who appoints the members to judge what is appropriate spending and where is this bilateral approach mentioned in our constitution?

    This is madness.