Wednesday, July 27, 2011

Reid’s Gimmicks Unmasked: Record $3T Debt Increase Tied To Just $1T In Cuts

JULY 26, WASHINGTON–After the Budget Committee’s Republican analysts conducted a careful review of Majority Leader Reid’s debt limit proposal, Sen. Sessions shared his findings on the Senate floor.

The truth: Reid’s proposal cuts only $1 trillion in spending for a nearly $3 trillion increase in the debt limit, and is based on an outdated spending baseline. This faulty baseline permitted Reid to temporarily disguise his irresponsible spending increases.

Video:  Reid’s Gimmicks Unmasked: Record $3T Debt Increase Tied To Just $1T In Cuts

Related:
Review:  The Debt Ceiling and Economic Crisis Debate Rages On…
  Since this was written the CBO has scored Boehner’s plan and found that it was a bit short of the goal of $1.2T in cuts for approx. $1T in  debt increase and the guarantee of a vote in the Senate on a Balanced Budget Amendment.  In the end the Republican plan of Cut Cap and Balance is the answer and the path we must take to survive.

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