CTJ: Both Sides of Debt Ceiling Talks Propose Increasing the Budget Deficit

antigop

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Wed Jul-20-11 10:13 PM
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CTJ: Both Sides of Debt Ceiling Talks Propose Increasing the Budget Deficit

http://www.ctj.org/pdf/grandbargain.pdf

But one thing is clear: Almost anything that the President and the Congress can possibly agree
upon will not reduce projected budget deficits. Instead, it will increase them.
The problem is that both sides want to extend all or most of the expiring Bush tax cuts. And
neither side has proposed spending cuts or tax increases large enough to offset the
tremendous cost of such an extension.

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dkf

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Wed Jul-20-11 10:45 PM
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1. Oh the irony.

All we have to do is stick to non action and we will be in better shape in terms of the deficit.

Both sides love the Bush tax cuts.

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creeksneakers2

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Wed Jul-20-11 10:52 PM
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2. There's some funny counting going on

I can't believe that the gang of six plan can cut the top rate from 35% to 29%, cut the corporate tax rate by a third, mandate that any loophole closing would have to go to lowering the rates, and exempt every cent multinationals earn abroad can lead to an increase in revenue, unless they are going to rape the wide part of the pyramid with the cuts to the charitable donation, employer provided health care, mortgage interest and 401K write offs.

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blkmusclmachine

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Thu Jul-21-11 05:04 AM
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3. Reigning in the deficit is of NO interest to these people. SS is deficit-neutral, anyway.

They just want all that SS money. They just need a convincing lie to loot it right in front of our eyes.

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