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Yahoo News: Congressional leaders reach agreement to raise the debt ceiling


Jumbo

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Go to it, you guys (intelligently please, with less of the usual obstinate, argumentative, semi-baiting/trolling predictable-bias-driven close-minded nonsense I've been seeing too much of from some...I'll catch up later.) :)

According to the details available, the agreement would slow the growth of government spending over the next decade by $2-$3 trillion and allow enough borrowing to put off another vote to raise the ceiling to 2013. About $1 trillion will be cut immediately, and the details of the remaining spending reductions will be handled by a bipartisan committee of 12 lawmakers from both chambers, who will recommend cuts for Congress to vote on. To appease the GOP's conservative wing, the deal would also require a vote in both chambers on an amendment to the Constitution requiring the federal government to balance its budget each year.

http://news.yahoo.com/blogs/ticket/congressional-leaders-reach-agreement-raise-debt-ceiling-015244838.html

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1 T cut immediately over 9 yrs?

The only thing immediate is the spending and debt mounting.

Color me less than thrilled,but I guess accounting gimmicks are the best we can hope for and the day of reckoning gets pushed back.....so drink up and be merry.

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I think all of us, on both sides, called this. Both sides would go to their own corners and throw jabs, insults, and anything NOT resembling productivity at the other corner until the last minute. Then they'd come together at the last minute and get something done.

The only thing that still really sticks in my craw about all of this is all of the fear mongering that was done by both parties. Well, that and the fact that we're still hosed. We're just not COMPLETELY hosed for another two years. Something to look forward to. :ols:

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I think as long as leadership (not even counting whoever is/has been potus) and the rank & file in congress is what it has been on both sides of the aisle (and include tea-partiers and libertarians) and the electorate is identified by the loudest, stupidest, most ignorantly partisan representatives, then you're right hh...the problem is we're still screwed no matter what. :(

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according to my scribbles we trade the hike for a 4.1% total reduction in spending over ten yrs assuming cuts are actually made and a constant budget w/o more debt limit increases:silly:

Enron accounting...I'm calling it a night.

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I think as long as leadership (not even counting whoever is/has been potus) and the rank & file in congress is what it has been on both sides of the aisle (and include tea-partiers and libertarians) and the electorate is identified by the loudest, stupidest, most ignorantly partisan representatives, then you're right hh...the problem is we're still screwed no matter what. :(

I don't think you're giving nearly enough credit to the ignorant electorate. :ols:

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I don't think you're giving nearly enough credit to the ignorant electorate. :ols:

I accept that a number of my recently posted evaluations of the adult/engaged populace at large re: politics/governance may severely debilitate my normal "Mr. Rogers" image. :D

:evilg:

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I'm going to chose to be optimistic.

Compared to some of the nuclear triggers being thrown around, last few weeks, this looks almost like some "Captain Kirk saves the day" ending.

At least, I'm gonna try to look at it that way.

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At times there are serious issues being addressed but of course political theater is always present.

The stage to make the opposite party look irresponsible radical with a touch of insanity would be great.

This political strategy has been going on for hundreds of years!

This was all for the next election and political parties establishing issues and arguments to run on.

So who won and who lost?

I say republicans win with balanced budget amendment. Giving them a issue.Plus bringing a end to this debate till 2013 is a win for them also.

Democrats may have strategical misfired not wanting this issue again during a election year.Why not in this political stage. Republicans would have looked irresponsible again. The juice in politics.

Moving forward the democrats have 2 options. Change the issue and point out how irresponsible republicans are or steal the issue and start offering budget cuts in a more responsible fashion .

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So who won and who lost?
Obama could have come out a winner, but he admitted that this was not the deal he wanted when he could have simply declared victory. Such a political neophyte.

Winners, everyone in congress. If they admit they worked together and got a deal that is best for America (whether it is or not) they all look great. If they do not do this (I doubt Reid will) then they all look like jackasses.

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I think all of us, on both sides, called this. Both sides would go to their own corners and throw jabs, insults, and anything NOT resembling productivity at the other corner until the last minute. Then they'd come together at the last minute and get something done.

The only thing that still really sticks in my craw about all of this is all of the fear mongering that was done by both parties. Well, that and the fact that we're still hosed. We're just not COMPLETELY hosed for another two years. Something to look forward to. :ols:

Agreed. This deal looks so vanilla it could have been done weeks ago. I'm sick of posturing.

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I read on the Post website that one of the few concession Boehner made in the negotiations was to put a spending freeze on defense of a year.

amazing that the Tea Party doesn't want to touch the military. Just, absolutely, amazing.

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I am a vet. Defense spending needs to be cut 30% minimum.

---------- Post added August-1st-2011 at 10:13 AM ----------

Cutting the military budget is the 2nd step. The 1st step is getting the military out of harms way. How can we start cutting with 160K deployed in war zones?
Easily. You cut areas not involved in supporting the war effort. Cut the training budget. Slash TDYs. Cut the Pentagon R&D. You could gut the defense budget without affecting 1 penny going to the troops on the ground. Paying for the war is an afterthought to the off book budgets and the R&D budgets.
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