The (self-proclaimed) non-partisan
Center on Budget and Policy Priorities (it's level of partisanship has been debated),
released a study the other day on the proposals presented by the democratic and republican members of the Joint Select Committee on Deficit Reduction that was put together in the crisis averting, debt ceiling raising deal this past August. Not all that surprisingly, the republicans on the committee still stick to the formula that it is all about spending cuts, with no additional revenue. Y'know, the Jack and the Beanstalk economic plan... plant the magic beans, wait for growth and then get your golden eggs (and much like Jack and the Beanstalk, it's a goddamn fairy tale). They also
go rogue on the baseline for their estimates bu assuming that the Bush tax cuts continue (y'know those tax cuts that have been around for almost a decade but have yet to lead to one iota of economic growth) while every other estimate supposes that they expire. This is in clear contrast to
Senator Max Baucus' plan, which proposes some revenue increases but that also requires significant spending cuts; including deep cuts to Medicare and Medicaid. Of course, that plan was quickly rejected by the republican members of the "Super Committee."
If the POTUS cannot take advantage of republican intransigence and differentiate between the
fairy tales offered by the GOP with the compromise offered by the democrats, I don't know what to say. I guess that would prove, once and for all, that BOTH parties are completely incompetent.
EDITORS NOTE: I use y'know faarrrr too much. Don't worry, I'm working on it. Just so y'know.
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