August 1, 2011

radio-limbaugh

On the very mixed bag which is the new debt ceiling deal…

There supposedly are no tax increases in this. Yet the CBO… is counting on the Bush tax cuts expiring. Next year the Bush tax cuts are set to expire. That’s going to be a tax increase without anybody having to vote for one. Now, it’s also possible that the Bush tax cuts will be extended… and I think it’s 50/50… if that happens, then what happens to the CBO score? The CBO score is thrown out the window. The CBO score is BS anyway but if the Bush tax cuts are extended, the CBO is going to score that as a major cut, which will have to be replaced. A cut in government revenue. If the Bush tax cuts are extended that’s less revenue than the government’s counting on, which means that the (Debt) Commission will have an automatic excuse to go in and raise taxes.

July 29, 2011

talk

On the latest iteration of the debt ceiling negotiations…

Boehner 3.0 basically does this: Would pave the way for the debt limit to be raised, through the 2012 election, in two chunks. But it would mandate that the second increase of the debt ceiling could only occur after a balanced budget amendment passed both chambers of congress and went to the states for ratification. That’s the big difference in Boehner 3.0. Now before we get into the specifics of all of this, I want to say something to all of you conservatives out there. I want to tell you, how damn proud of you I am. Because you made this happen. The conservative intelligentsia, the conservative so-called “media”, inside the Beltway, would’ve accepted anything.