Debt Limit Talks, Cut Cap & Balance, and What is the Principled Thing To Do?

I have been watching this whole debt debate and as it rages on it seems that the debt ceiling negotiations are getting nuttier by the day.   We are seeing the clash of philosophies go head to head.  Democrats and Obama believe in playing the class warfare card.  The President refuses to mention with specificity even one thing that he is willing to cut from the budget.  In contrast the President has laid out in great specificity how he wants to tax the "rich". He wants to raise taxes while Republicans do not.  IMO, the crux of the problem lies with Obama.  The philosophies of both the conservatives and liberals are so far apart that they don't agree on much, if anything, in the way of how to fix the debt problem.  While the President likes to portray the GOP as being ideologically entrenched and unwilling to compromise his own words have shown that this is a case of the pot calling the kettle black.  For example, Eric Cantor realized that the two sides are two far apart to agree on a "grande bargain" so he stated that he would be willing to move a a short-term debt limit increase alongside smaller spending cuts but then Obama, the man-child President, said to Cantor “Eric, don’t call my bluff." Then according to Eric Cantor he told reporters that “He (Obama) shoved back and said ‘I’ll see you tomorrow’ and walked out."  Obama has shown that he can't stand to be challenged politically, and that he takes it personally so I can believe that this happened the way Eric Cantor portrayed the event. 


Do you think that Eric Cantor was political posturing? Or do you think that Obama was political posturing?

Back in 2009 Obama stated that he wasn't looking to raise taxes until possibly 2013.  But now he is so entrenched and committed to raising taxes. 

"So, when you hear folks saying, “Well, the president shouldn’t want massive job killing tax increases when the economy is this weak.” Nobody’s looking to raise taxes right now. We’re talking about potentially 2013 and the out years."

So why does Obama want to raise taxes when our economy is so weak and on the verge of a double dip recession?  We shouldn't be raising taxes on anyone while our economy is so weak. 

What is a principled stance for the Republicans?  Do you think that it would be irresponsible for the GOP not to raise the debt ceiling or would it be irresponsible for them to raise the debt ceiling?  Or should the GOP raise the debt ceiling ONLY IF the President and Congress goes along with their Cut Cap and Balance Pledge?  Or a similar plan? In all likelihood it would seem that in all probability that there is going to be some sort of compromise by both parties.  Or do you think that the GOP should stand firm and risk the U.S. hitting the debt ceiling?  And thus possibly defaulting?  Then we have President Obama who is using fear mongering tactics, saying we may not have enough money to pay out social security, medicare and medicaid, and military benefits in order to put pressure on the Republicans.  If the debt ceiling isn't raised then Obama might actually be forced to make some immediate and necessary budget cuts but that is something he isn't willing to do.

The Weekly Standard explains that the revenues would cover social security, medicaid and medicare, and military benefits.

The BPC study found that the United States is likely to hit the debt limit sometime between August 2 and August 9. “It’s a 44 percent overnight cut in federal spending” if Congress hits the debt limit, [Jay Powell of the Bipartisan Policy Center]said. The BPC study projects there will be $172 billion in federal revenues in August and $307 billion in authorized expenditures. That means there's enough money to pay for, say, interest on the debt ($29 billion), Social Security ($49.2 billion), Medicare and Medicaid ($50 billion), active duty troop pay ($2.9 billion), veterans affairs programs ($2.9 billion).

I just saw this on Eric Cantor's Facebook Page: "This debate is not a question of personalities; it is about doing what is right for the country."  


I agree.  

The Cut, Cap, and Balance Plan consists of :  



1.  Cut - We must make discretionary and mandatory spending reductions that would cut the deficit in half next year.

2.  Cap - We need statutory, enforceable caps to align federal spending with average revenues at 18% of Gross Domestic Product (GDP), with automatic spending reductions if the caps are breached.

3.  Balance - We must send to the states a Balanced Budget Amendment (BBA) with strong protections against federal tax increases and a Spending Limitation Amendment (SLA) that aligns spending with average revenues as described above.




Then we have Mitch McConnell's plan which would basically cede power to Obama and allow him to raise the debt limit three times during the rest of his term. This lame brain idea would put the onus of the blame for the skyrocketing debt on Obama.  That option would mean that both parties would be kicking the can down the road.  Old Geezer Mitch must have left his brain at home that day because this plan is absurd.  The American people don't want McConnell to wave the white flag of defeat to Obama & Co.  The American people want solutions and not political chicanery. Clueless McConnell needs to stop playing political games and instead concentrate on trying to find a solution to the debt crisis, stop acting like a wimp and stand up to Obama.  


In your opinion what do you think is the principled position for the Republicans?  What are your thoughts on the debt and debt ceiling issues?

Eric Cantor Has Received Threats and Says Dems are "Dangerously Fanning the Flames"

Eric Cantor has received threats both before and after the health care bill's passage in Congress. But, a shot was fired through the window of Eric Cantor's office in Virginia after the passage of Obamacare. This is unconscionable. But, I haven't heard any Democrats denounce violence like I have heard the Republicans denounce violence. This violence is unacceptable and people who disagree must move on in discussion, and we who want to repeal this bill must reboot or reload and continue our efforts so that we may repeal this bill.

An Increasing Bipartisan Majority Against Health Care Bill

This morning, House Republican Whip Eric Cantor (R-VA) appeared on Fox News to discuss health care reform adn the supposed "Blue Dog Democrat" deal that is still a bad deal for the American people.

Cantor: "A Larger Bipartisan Majority Against The Plan Right Now Than There Was Even Yesterday"

Eric Cantor Speaks Out on Health Care: Let's Get it Right

Eric Cantor- Republican Weekly Address

Eric Cantor, one of the leading members in the Republican Party gives The Republican Weekly Address:





Here is the text of Eric Cantor's Weekly Address:

Hello.
I’m House Republican Whip Eric Cantor and I have the great privilege of representing the hardworking people of Virginia’s seventh district.
American families and small businesses today are struggling. Republicans have put forth thoughtful, serious and comprehensive plans of action that put jobs first. We offered an economic recovery plan that would have revitalized struggling small businesses and helped middle-class families by putting Americans back to work. Yet, the President, in tandem with Democrats in Congress, have pushed through a $787 billion dollar bill full of pork barrel spending, government waste, and massive borrowing cleverly called ‘stimulus.’
There is no doubt that our nation faces many challenges, but the plain truth is that President Obama’s economic decisions have not produced jobs, have not produced prosperity, and simply have not worked. President Obama has already asked you to borrow trillions of dollars, and so far nearly 3 million jobs have been lost alone this year.
Remember the promises? They promised you that if you paid for their stimulus, jobs would be created immediately. In fact, they said that unemployment would stay under eight percent. Yet just months later, they are telling us to brace for unemployment to climb over ten percent. They promised jobs created. Now they scramble to find a way to play games with government numbers by claiming jobs saved.
Simply put, this is now President Obama’s economy and the American people are beginning to question whether his policies are working.
But that doesn’t mean we are out of options. Together, we can bring about a strong and real recovery. We can create an environment that empowers small businesses and American workers to thrive. We must focus on job creation and restoring the financial and retirement security lost by millions of Americans. And for the sake of our children and our long-term fiscal viability, Washington must stop spending money that it doesn’t have.
That’s why every day, my Republican colleagues and I are fighting to enact policies that will stabilize our economy, create jobs and ignite prosperity. You and your family deserve no less.
Since January, we have offered alternatives to the out-of-control, big government, Democrat agenda that unfortunately became law and has completely failed to create jobs. Our plan is simple and smart and its strength is that it doesn’t invest in Washington, it invests in the American people.
We believe Washington should stop its war on the Middle Class and reduce taxes so every hardworking, taxpaying-family in America will see an immediate increase in their income. A prosperous middle class is critical for our entire nation’s well being.
We believe Washington must stop targeting America’s small businesses and instead should empower them by allowing employers to take a tax deduction to free up funds to retain and hire new workers. Our history proves that it is the small businessmen and women who will reignite our economy by putting people back to work. Washington should get out of the way and encourage small business employers to start or grow a business.
Lastly, we believe Washington must be responsible for every taxpayer dollar that is spent. Washington MUST live within its means. We will not support taxes hikes to pay for even more so-called stimulus spending.
The overwhelming majority of Americans are working hard and are playing by the rules. They are providing for their families and doing their part to return America to the pinnacle of prosperity.
Their reward? Trillions more in debt. For the ‘stimulus’ alone, Washington borrowed nearly ten thousand dollars from every American household. Let me ask you: do you feel $10,000 richer today? Do you feel $10,000 better off? If you don’t, please know most people agree.
That is why we continue our fight because during these tough economic times, it often seems that Washington is offering you few choices except for spend and borrow. I’m here today to let you know there are alternatives – common-sense tax relief; smart and necessary reductions in spending, and intelligent policies that do not bankrupt our nation.
That is why I’m asking you to join our fight for accountability and common-sense. Call your Congressman, your Senator, and your President and let them know that you think Washington should stop the reckless spending, stop the careless borrowing and stop the war on the Middle Class. We can do better and we will do better, but first we have to first come together to change what is going on. The time is critical, the choice is yours.
I’m Eric Cantor, and on behalf of my Republican colleagues, join with us to get Washington working for you once again.
Thank you for listening.

Eric Cantor, House Republican Whip Talks About Iran Resolution