‘Gang of Six’ plan meaningless without GOP House

A sense of relief washed over Washington Tuesday after the bipartisan Gang of Six — a group that includes Saxby Chambliss of Georgia — announced it had come to agreement on a major deficit-reduction package.

Their announcement was greeted by many as if a path out of the wilderness had been found. President Obama spoke favorably of the plan, calling it “broadly consistent with what we’ve been working on here in the White House.” Senators of both parties expressed support for the plan, at least in broad terms.

As NPR reports:

“One of the 25 Republicans who heard the Gang of Six’s proposal for a grand bargain on debt reduction was Sen. Lamar Alexander of Tennessee, who ranks third in the GOP leadership. He said he was impressed both with the plan and with the three Republican gang members who helped draft it.

“Senators [Mike] Crapo, [Tom] Coburn and Chambliss are three of the most conservative members of the Republican caucus, and if they study something for six months, tell me it’s good for the country, that means a lot to me.”

Many other conservative Republicans senators showered similar praise on the Gang of Six proposal. They did so despite the fact that most Republicans for months have opposed using any increased tax revenues to bring down deficits.

Coburn said this plan puts tax revenues back on the table.

“There’s no question, revenues — enhanced revenues — are part of this plan, and we think it’ll be about $1 trillion,” he said.”

But that’s the problem, isn’t it. Sensible, responsible people understand that the deficit has to be addressed by a combination of spending cuts and revenue increases. Politically, that’s how a deal can be cut. And mathematically, it simply isn’t possible to achieve deficit cuts of the size required without approaching the problem from both ends, by raising revenue and cutting spending.

However, sensible, responsible people are not running the show in the U.S. House of Representatives. While Crapo, Coburn and Chambliss may be three of the more conservative Republicans in the Senate, in the eyes of their colleagues in the House they are mere RINOs.

As a sign of their continued fidelity to foolishness, House Republicans spent yesterday passing their extreme “Cut, Cap and Balance Plan.” The good news is that nine GOP congressmen voted against the bill. The bad news is that most if not all of those nine — including GOP presidential candidate Michele Bachmann and Georgia’s Paul Broun — voted against it because in the end, it would raise the debt ceiling. In other words, it wasn’t extreme enough.

“The president has said now for once he wants a balanced approach,” Speaker John Boehner said after the vote. “Well, guess what. In ‘Cut, Cap and Balance’ he does get a balanced approach. He gets his increase in the debt limit of $2.4 trillion. What we get are real cuts in spending and real reforms in place that’ll make sure that this problem never, ever happens again.”

Note that Boehner continues to frame the debt limit increase as a goal that Obama wants and that Boehner is willing to grant him under the right conditions, rather than an absolute necessity for the country as a whole. It’s crazy talk.

Meanwhile, out there in BaseLand, the drumbeat for Armageddon grows louder.

For example, at redstate.com, the Gang of Six plan is derided as “the Gangrene Plan” because “it will slowly, but surely, rot away the nation.”

“What’s going to happen now is the Senate will tell the House that its plan cannot pass. House Republicans must now continue to hold the freaking line. They must not waiver. They must understand that now that their plan is passed and that it allows the debt ceiling to be raised, the House GOP’s hand strengthens every day closer to August 2nd. And if this debacle goes past August 2nd, the House GOP is in charge as long as it holds the freaking line.”

Things aren’t much better at places such as the Heritage Foundation. David Addington, Heritage vice president of domestic and economic policy studies and former chief of staff to Vice President Dick Cheney, dismisses the Gang of Six proposal as “the third Senate-originated half-baked idea this week.”

“There’s plenty in the Gang of Six Plan for President Obama — he gets his tax hikes and, in reality, he gets to borrow lots more money. But the American people don’t really get much of anything, except the usual empty promise of action in the future…. Conservatives should stop the Gang of Six Plan.”

A peek at the calendar tells me that Aug. 2 is now 13 days away.

– Jay Bookman

275 comments Add your comment

Left wing management

July 20th, 2011
8:50 am

It’s all the House’s fault

stands for decibels

July 20th, 2011
8:52 am

‘Gang of Six’ plan meaningless without GOP House

Pretty much what Obama said yesterday, although he was a lot nicer / less blunt about it than that.

1811/0311

July 20th, 2011
8:54 am

Which of the three branches of our government (and which part of “that” branch) best represents the grass roots will of the majority of the American people …………… or at least that’s the way our representative democracy is supposed to work?

The House of Representatives

They have spoken. A bill is on the table.

Lord Help Us

July 20th, 2011
8:55 am

Coburn, Alexander, Cambliss, McConnell – RINO’s!!!

The tent keeps getting smaller.

Tick…tick…tick…

Lord Help Us

July 20th, 2011
8:56 am

‘They have spoken. A bill is on the table.’

Methinks someone needs to study our Country’s Constitution and learn about the branches of Gov’t and Check and balances…

Dave R.

July 20th, 2011
8:56 am

“Gang of Six’ plan meaningless”

Could have stopped right there without the qualifier, Jay.

Anything Saxby Chambliss is associated with is destined to be a lousy alternative to what should be done.

bhorsoft

July 20th, 2011
8:59 am

Voting in the next election is going to be easy. I won’t vote for anyone with an (I) next to their name; except for the President – based on what I’m seeing so far, any opposition to Obama will be some sort of nut job. These days, the choice in an election always seems to be the lesser of two evils.

Tommy Maddox

July 20th, 2011
9:00 am

Mr. Chambliss has not been reading my correspondence to him.

1811/0311

July 20th, 2011
9:01 am

Lord Help Us:

That’s why I said a “bill is on the table” knucklehead.

The “ultimate” check and balance is who?

The PEOPLE.

Bosch

July 20th, 2011
9:01 am

Scout,

And the House of Representatives is also the most volatile and full of nuts which is why there is a Senate of more cool headed members to off set the crazy.

Lord Help Us

July 20th, 2011
9:04 am

Heck, according to Saxby, Max Cleland is an American-hating, terrorist loving traitor…

Problem is…he strayed from the crazy by participating in the ‘Gang of Six.’ He shall now be branded with the RINO label.

Saxby can now look forward to a primary opponent that believes Obama is the Anti-Christ.

Tick…tick…tick…

some guy

July 20th, 2011
9:05 am

It’s the House GOP’s fault…………..They control half of Congress and have not control or influence over the executive branch that has shown no leadership and is more interested in reelection with 31 fund raising events in the last quarter and would rather grandstand and demagogue.

Peadawg

July 20th, 2011
9:05 am

“‘Gang of Six’ plan meaningless” period, Jay. I mean cutting mortgage interest deductions? Really? That’s one of the main incentives of buying a house vs. living in an apartment. And a promise of future cuts? Pahlease.

Lord Help Us

July 20th, 2011
9:06 am

‘The “ultimate” check and balance is who?’

No, silly, it’s the Senate, the President and the Judiciary…

Go read the Constitution and come back when you got some learnin’s.

Bosch

July 20th, 2011
9:06 am

A key goal of the framers was to create a Senate differently constituted from the House so it would be less subject to popular passions and impulses. “The use of the Senate,” wrote James Madison in Notes of Debates in the Federal Convention of 1787, “is to consist in its proceedings with more coolness, with more system and with more wisdom, than the popular branch.” An oft-quoted story about the “coolness” of the Senate involves George Washington and Thomas Jefferson, who was in France during the Constitutional Convention. Upon his return, Jefferson visited Washington and asked why the Convention delegates had created a Senate. “Why did you pour that coffee into your saucer?” asked Washington. “To cool it,” said Jefferson. “Even so,” responded Washington, “we pour legislation into the senatorial saucer to cool it.”

http://www.senate.gov/legislative/common/briefing/Senate_legislative_process.htm

USinUK

July 20th, 2011
9:07 am

“or at least that’s the way our representative democracy is supposed to work?”

EXACTLY.

that’s how it’s SUPPOSED to work

but doesn’t.

case in point … “jobs-jobs-jobs” was their mantra … and what was the first thing they did? went after my uterus-uterus-uterus.

carlosgvv

July 20th, 2011
9:07 am

If the “gang of six” plan passes the Senate, there will be intense pressure from the public on the House to do the same. If they don’t, they will quickly be politically isolated. At this point, it will just be a question of how long it will take these incredibly dense people to wake up and hear the voters.

USinUK

July 20th, 2011
9:08 am

P’diddy – “That’s one of the main incentives of buying a house vs. living in an apartment”

we haven’t had mortgage interest deductions in the UK in YEARS … know what? people still by houses.

Dave R.

July 20th, 2011
9:09 am

“And the House of Representatives is also the most volatile and full of nuts which is why there is a Senate of more cool headed members to off set the crazy.”

Yeah, because Dick Durbin, Chuck Schumer, Bernie Sanders, Saxby Chambliss and Richard Shelby are paragons of “sane”.

@@

July 20th, 2011
9:09 am

It’s not just Republicans, jay.

House Speaker John Boehner, R-Ohio, is typically grumbly, and Senate Democrats are complaining that they may not have enough time to pull everything together before the August 2 debt ceiling deadline. But the cheerleading for the “Gang of Six” plan is considerable and enthusiastic.

Except for:

But the one senator (Bernie Sanders) who has stood most steadily in defense of Social Security, Medicare and Medicaid—and for fiscally sound budgeting—is not joining the mob.

He is objecting. And he says the American people should join him in challenging a a plan that he says would result in devastating cuts to needed programs.

“While all of the details from the so-called Gang of Six proposals are not yet clear, what is apparent is that the plan would result in devastating cuts to Social Security, Medicare, Medicaid and many other programs that are of vital importance to working families in this country. Meanwhile, tax rates would be lowered for the wealthiest people and the largest, most profitable corporations,” says Sanders.

“This is an approach that should be rejected by the American people. At a time when the rich are becoming richer and corporate profits are soaring, at least half of any deficit-reduction package must come from upper income people and profitable corporations. We must also take a hard look at military spending, which has tripled since 1997.”

http://www.thenation.com/blog/162166/gang-six-plan-not-so-fast-says-bernie-sanders

Scathing comments from Obama’s home base.

schnirt

WAR

July 20th, 2011
9:09 am

ok explain this to me: how can i decrease my deficit by just cutting my spending, but not by raising my taxes too?

seriously, explain to me how that works?

jt

July 20th, 2011
9:10 am

“A sense of relief washed over Washington Tuesday ”
.
That is all I needed to read.
It can’t be good for Americans when that happens.
.
Robespierre………….where are you sir?

Jay

July 20th, 2011
9:10 am

I mean cutting mortgage interest deductions? Really? That’s one of the main incentives of buying a house vs. living in an apartment.

Oh, I see. Peadawg believes it’s legitimate for government to intervene in the free market by favoring certain investments or purchases over other investments or purchases.

Personally, I think such steps have their place. I just didn’t know Peadawg agreed with me.

Gordon

July 20th, 2011
9:11 am

“…. despite the fact that most Republicans for months have opposed using any increased tax revenues to bring down deficits”

That’s because increased revenues don’t bring down deficits, they get spent. Bush 41 raised taxes with the promise of spending cuts but those never came. A new administration (or this same one), a higher debt ceiling, a couple of examples of people suffering under the new spending cuts, and it all goes away.

Someone reading Jay’s blog this morning who wasn’t at all familiar with the budget might think that spending cuts and revenue increases were of equal importance in solving this problem. In fact, they are not, and its not even close even assuming that raising taxes has no negative effect on the recovery. Tom Coburn’s plan is about right (and yes, I realize it has revenue increases but those are about one eighth of the spending cuts).

At least this debt ceiling issue is keeping us from having to listen to whining about global warming in the middle of this July heat wave.

Bosch

July 20th, 2011
9:11 am

Dave R.,

Well, true that, but still — it’s historically acknowledged that the Senate houses the wiser, more level headed amongst our politicians (I know, God help us now :) ).

It’s why Bill Clinton didn’t get thrown out after he was impeached. The Senators knew it was stupid.

Peadawg

July 20th, 2011
9:11 am

“we haven’t had mortgage interest deductions in the UK in YEARS … know what? people still by houses.” – I’m sure. But it’s different when you haven’t had it in a while….people are used to it over there.

No mortgage interest deduction + continuing decline in home value after you purchase = why the hell would you buy a house? If this go through we may be going back to the apartments we moved from a few years ago.

Martin the Calvinist

July 20th, 2011
9:12 am

Jay, are you saying deficit spending is okay and that we should continue such practices. I personally think a balanced budget amendment would be a great idea. We shouldn’t be spending more than we take in, most families in the USA don’t do that, if they do, their credit rating stinks.

I personally am a low taxes for everyone guy and believes in a limited government that spends as little as possible of the peoples money but from what I’m hearing this “gang of six” deal is reasonable. I’m quite okay with lower rates on everyone and fewer deductions on everyone to generate the revenue to run the country. We need more tax payers, not more people dependent on a federal government. I would think common sense would tell everyone that.

Jefferson

July 20th, 2011
9:12 am

This is why the GOP has no credibility. They can’t do what they say they will do, so nothing is accomplished. Watch is live and in color, its a lock.

Bosch

July 20th, 2011
9:13 am

Sounds to me Peadawg has wealth envy.

Dave R.

July 20th, 2011
9:14 am

“If the “gang of six” plan passes the Senate, there will be intense pressure from the public on the House to do the same.”

But since the House passed Cut, Cap and Balance there is no corresponding “intense pressure” for the SENATE to do the same?

Don’t quit your day job. Political analysis isn’t your forte, carlos.

md

July 20th, 2011
9:14 am

Well…….looks as if in reality, any plan is meaningless……….the 2 headed monster is eating them with one mouth or the other…………..

But you folks go on debating which head is the least hungry………

USinUK

July 20th, 2011
9:14 am

Peadawg – “But it’s different when you haven’t had it in a while….people are used to it over there”

people are used to it?

that’s your reason to keep it?

well, gosh, people are used to SocSec, too, but you guys want to cut the hell out of that. And Medicaid. And PBS. etc

Bosch

July 20th, 2011
9:14 am

“We shouldn’t be spending more than we take in, most families in the USA don’t do that”

When will people realize that the budget of the United States is NOT like YOUR checking account? Geez.

WAR

July 20th, 2011
9:14 am

i dont trust anyone who says read the constitution. really, that is a long piece of writing with all its laws and bylaws and amendments and this that and the other. i tried to do it, but mostly skipped around and examined the parts that i liked the most which were parts i was most familiar with. 1st, 2nd, 14th amendment are my favorites. i figure the other average American does that too.

USinUK

July 20th, 2011
9:15 am

oh, wait, I gettit … only SOME people need to feel pain …

Peadawg

July 20th, 2011
9:15 am

“Oh, I see. Peadawg believes it’s legitimate for government to intervene in the free market by favoring certain investments or purchases over other investments or purchases.” – Tax incentives to buy houses are a no brainer, Jay, especially when the market is still doing so poorly. Take away that tax incentive? So much for recovery anytime soon.

The tax incentive kinda makes up for the higher upkeep, higher bills, and declining value…now what’s the incentive to buy a house?

USinUK

July 20th, 2011
9:15 am

Bosch – 9:14 – I’m trying not to bang my head on that particular brick wall anymore … they don’t get it and they never will

Peadawg

July 20th, 2011
9:16 am

USinUK @ 9:14

And the point whizzes over your head…

Brosephus

July 20th, 2011
9:16 am

I can’t help but laugh my ass off at how people bristling at the plan offered by the Gang of Six. All I’ve heard is people defending not taxing the rich and not taxing corporations. However, now that there is a plan that gives them what they asked for, not taxing the rich, by sticking it to the middle class, that’s not such a good idea. And we wonder why we can’t get anything done….

@@ from downstairs:

And the fact that she’s a Conservative columnist doesn’t slant her opinion at all either, huh? I loathe people like her with the same furor as I loathe those who march lockstep with the Democratic Party as well. Neither party gives a sh*t about Blacks, and that’s more evident through their actions than any lip service they could ever show.

If you look at pure numbers, Black unemployment now is the same percentage as it was under Bush. Going off the percentages she’s quoting, Black unemployment rides at about 180% of the total unemployment percentage. To say Obama has a problem would mean that she’s agreeing that Bush had a problem. She had no problem defending Bush, as the people she’s ripping appear to have no problem defending Obama. Both groups are wrong in my opinion.

Left wing management

July 20th, 2011
9:16 am

Here you have a president down on bended knee, tongue extended and moving back and forth along the bottom of the right wing boot, which he loves and secretly admires unlike his whiny, idealistic base whom he dumps on at every chance, literally BEGGING, PLEADING with his opponents for a deal, just ANY modicum of a token compromise on the revenue issue so he can at least save minimal face. That’s all. Yet EVEN THAT is not enough for this corporatist right. They want it ALL!

To which I respond by saying: fine, then, let’s have default.

This is what the most serious governing crisis in over a century in this country looks like.

Jay

July 20th, 2011
9:16 am

And jt pines for an American Robespierre, a demagogue and tyrant who sent hundreds of his political enemies to the guillotine, embracing the use of political terror on the grounds that “Terror is only justice prompt, severe and inflexible; it is then an emanation of virtue.”

Lord save our country from these “patriots.”

1811/0311

July 20th, 2011
9:17 am

Come next election the will of the people will be voiced even more strongly …………….. a check and balance ……….. resulting in more conservative new senators, a new conservative president and thus different Supreme Court nominees who will uphold the Constitution rather than reinvent it !

As I said, the ultimate check and balance is the PEOPLE.

Next.

P.S. Off for the day

Bosch

July 20th, 2011
9:17 am

“now what’s the incentive to buy a house?”

Sense of ownership
Good investment
You get to re-do the kitchen when you want and pick out whatever colors you want
Cheaper than renting

Keep Up the Good Fight!

July 20th, 2011
9:18 am

Prepare for Debtageddon! Brought to you by the House of Representatives….who failed to bring Jobageddon (or was it to be Jobmania?) but who did manage to bring Planned Parenthoodaphobia. This will be a pay-per-view event which you are already paying for. Remember as with all WWF events, while the entertainment value may vary by viewer, there is a complete lack of nutritional value for the country.

Bosch

July 20th, 2011
9:18 am

“USinUK @ 9:14

And the point whizzes over your head…”

Absolutely not Pea, she is pointing out your hypocrisy.

WAR

July 20th, 2011
9:18 am

ok. i have a budget that is way too big. i cut spending by watching my spending habits. i save a few dollars but its not enough. if i sell some things at a garage sale or charge a few extra dollars for some afterwork services i provide, will that be like raising taxes?

Paul

July 20th, 2011
9:19 am

A bipartisan group. Bipartisan support in the Senate. Support of the Executive. House Republicans are getting further out on the limb and think they’re setting a record for tree climbing.

For those who keep criticizing Pres Obama with why hasn’t he embraced the recommendations of his own debt reduction commission (Bowles-Simpson)?,” the answer is “he has.” The Gang of Six plan (according to Sen Crapo in an interview on the Fox evening news show) said it heavily relies on Bowles-Simpson.

So now the question is, why have conservative Republicans who criticized the Pres for not embracing Bowles-Simpson now rejected those very same recommendations?

Dave R.

July 20th, 2011
9:19 am

Do you know what screwed up the “cooling saucer” of the Senate, Bosch?

Election of Senators by the people. The original thought was that the House would represent the interests of the people, while the Senate would represent the interests of the states by being appointed by the governors or legislatures.

Another good idea screwed up by our elected politicians in order to maintain their power.

Paul

July 20th, 2011
9:19 am

Actually, House Republicans remind me of a Kevin Bacon character:

http://www.youtube.com/watch?v=zDAmPIq29ro

Bosch

July 20th, 2011
9:19 am

“P.S. Off for the day”

Thank God.

Fred

July 20th, 2011
9:20 am

Peadawg, Post is readt when you are.

Personally I didn’t buy my house for a tax deduction.

Jimmy62

July 20th, 2011
9:21 am

It’s not a sensible plan, it’s not balanced, it doesn’t have any real cuts, and it doesn’t touch entitlements, which are the main problem anyway. It doesn’t touch Obamacare, which nobody says will save money anymore, all it does is punt the real problems to the next guys, who will find a way to make sure the buck doesn’t stop there. Rather than taking real action to cut spending, which has risen far faster than population growth+inflation, it hides the problems with some fancy words, and seems to be more about making sure Obama can get reelected than anything else. Actually being fiscally responsible would lose him too many votes from the people who love getting their free money from D.C.

Peadawg

July 20th, 2011
9:22 am

“now what’s the incentive to buy a house?”

Good investment – Ha! Sense when is investing in something that continues to decline in value a good investment?
Cheaper than renting – Absolutely not. Pest inspection? Done by the apartment. Any kind of Maintenance? Done by the apartment. Electricity bill for a 1 bedroom apartment vs. a 3 bedroom house? Pahlease. Washer and dryer, fridge, microwave, stove, dish washer? A lot of apartments provide those for you. You don’t have to purchase any lawn/gardening equipment if you live in an apartment. I could go on and on but you get my point.

Bosch

July 20th, 2011
9:22 am

Dave R.,

Yeah, this country would be fine if it wasn’t for the damn people getting involved. ;)

The real business of the country should be left to the landed gentry, the entitled elite, the successful amongst us who’ve worked hard and earned their own! Hehehhehhe…just messin’ with ya’

Granny Godzilla

July 20th, 2011
9:22 am

study of knuckleheadedness

A. “Your incessant attacks on all things conservative and your embarrassing fawning over this mistake-prone President is proof positive of someone who has no grasp of reality.”

B.”Yeah, because Dick Durbin, Chuck Schumer, Bernie Sanders, Saxby Chambliss and Richard Shelby are paragons of “sane”.”

I’m sensing a pattern….

WAR

July 20th, 2011
9:22 am

so would the country be better if a “conservative” president, congress, and supreme court were in charge of the three branches of government? do libs and progressives and others not have legitimate ideas that can best shape the country too.

i dont trust people who say read the constitution
i really dont trust people who believe that more things can get done by having just one party rule forever.

sounds alot like tyranny to me.

Martin the Calvinist

July 20th, 2011
9:22 am

Bosch, the Federal budget should be more like our checking account. It’s good stewardship of the peoples money not to overspend or spend on stupid stuff. Overspending has put us in a bad position.

Brosephus

July 20th, 2011
9:22 am

if i sell some things at a garage sale or charge a few extra dollars for some afterwork services i provide, will that be like raising taxes?

Not if you make offsetting new purchases…. :)

Paul

July 20th, 2011
9:23 am

Bosch and USinUK

Good thing you weren’t here yesterday evening. You woulda been on the hook for about 8,000 calories from popcorn.

I did find out that if you reference the Library of Congress to list how Rep Bachmann voted, the answer is ‘the Library of Congress lies.”

And some people say Washington is out of touch?!!?

Bosch

July 20th, 2011
9:23 am

Actually Peadawg, I don’t get your point as it’s pretty obvious you have never owned a home, and I’m with Fred — I didn’t buy my home for the tax benefits.

Gordon

July 20th, 2011
9:24 am

Dave R. @9:19 is exactly right. The Senate was supposed to be the deliberate body of Congress, but now they are just like representatives except they get a 6 year term. The states were robbed of power when the Senate began to be elected by the people. The only people who should be directly elected by the people are the House members.

USinUK

July 20th, 2011
9:24 am

“And the point whizzes over your head…”

ah. no. your point was that we should keep it because it’s aaaaallllllways been there and whyever would people buy a house if it wasn’t.

welp. people have always bought houses here in the UK – with the incentive and without it –

in the US, I believe “The American Dream” refers to homeownership, not mortgage interest tax deduction

Bosch

July 20th, 2011
9:24 am

“good stewardship of the peoples money not to overspend or spend on stupid stuff. Overspending has put us in a bad position”

Martin, you need to take a course in what “relativity” means. What is “stupid” to you is not stupid to others.

Dave R.

July 20th, 2011
9:25 am

“I’m sensing a pattern….”

Too bad you don’t sense political party affiliation, Granny.

3-2 Dems to GOP.

Unlike you, I don’t kiss the altar of either party.

@@

July 20th, 2011
9:26 am

SoCo:

And I responded downstairs.

WAR

July 20th, 2011
9:26 am

martin
trust you do not want the fed budget to be like our checking account: overdrawn, full of fees, and never with enough money to pay the bills.

wait… the fed budget is like our checking account!

Peadawg

July 20th, 2011
9:26 am

“Actually Peadawg, I don’t get your point as it’s pretty obvious you have never owned a home” – I moved from an apartment to a home 2 1/2 years ago and have regretted it ever sense.

So I guess, Bosch, please explain how owning a home is cheaper than renting? I’ll get my popcorn..this should be good.

USinUK

July 20th, 2011
9:26 am

Bosch – 9:23 – neither did I.

not to mention, if you have the right kind of mortgage (which we did), you actually have the incentive to pay the damned thing off EARLY … so, now the mister and I are totally debt-free and have been for a couple of years.

now, think about it – imagine if folks were actually incented to pay off their houses early – no more losing your house if you lose your job.

there’s a thought.

Paul

July 20th, 2011
9:26 am

Peadawg

Reference mortgage interest deduction: I believe the proposals are to cap the deduction to the value on the first $500,000 and eliminate it for second (vacation) homes.

Not completely eliminate it.

Granny Godzilla

July 20th, 2011
9:27 am

Dave R

It’s pretty obvious what you are kissing though…

Keep Up the Good Fight!

July 20th, 2011
9:27 am

The library of congress lies? Making note of that.

I saw that Rep. Joe Walsh yesterday (I think it was Hardball), still accusing the President of lying but did not say he was a liar….. a distinction (?) without a difference.

TaxPayer

July 20th, 2011
9:27 am

I sure am glad that I’m not one of those soon to be former social security recipients or soon to be former fed pensioners, etc. There are going to be millions of folks doing without the money they need to buy medicine and food and the house Republicans are just elated at that prospect. Good for them.

Dave R.

July 20th, 2011
9:29 am

“It’s pretty obvious what you are kissing though…”

Only to the clueless, which is why YOU might think so. . .

WAR

July 20th, 2011
9:30 am

i dont trust people who say “read the constitution”
i dont trust people who believe their party is the only one that can do the job
i dont trust people who keep the same smile longer than 3 seconds
i dont trust people who say “trust me”
i dont trust people who say “i dont see color”

Paul

July 20th, 2011
9:30 am

Bosch

If I may:

“please explain how owning a home is cheaper than renting?”

In some cases it is, in some cases it isn’t. Factors that can affect the outcome are length of time the asset is held, market conditions at time of purchase and sale, valuation of property relative to like properties, method of financing, condition of property, and a whole host of other things.

USinUK

July 20th, 2011
9:30 am

P’dawg – “I moved from an apartment to a home 2 1/2 years ago and have regretted it ever sense.”

bad timing (and/or bad investment) on your part doesn’t mean that houses aren’t a good investment overall.

Dave R.

July 20th, 2011
9:31 am

I don’t trust people who have blanket beliefs about those they do not trust.

Jay

July 20th, 2011
9:31 am

Of course, Gordon and our resident constitutional expert don’t understand that the reason the House, Senate AND at least three-fourths of the state legislatures voted to change the Senate election process was because the prior system had become grotesquely corrupt.

Nor do they understand that the drive to pass the 17th Amendment came out of the states themselves and was forced upon a reluctant Congress.

I understand that those are mere facts, which have less and less standing in this Age of Illusion. But I continue to believe they are important. I guess I’m just quaint that way.

WAR

July 20th, 2011
9:31 am

pea and bosch
which is cheaper: owning a home?
renting an apartment?
renting a home?

JohnnyReb

July 20th, 2011
9:32 am

Conservatives don’t like the gang plan because, like Obama’s constant whinning, there are no specifics. It kicks the can to the future where, guess what, there won’t be any agreement then either.

It should be clear to everyone that the only way to control spending is a constitutional amendement.

It should also be clear to everyone that Obama and his supporters oppose an amendment because it is diametrically opposed to their ideology.

Peadawg

July 20th, 2011
9:33 am

“(and/or bad investment)” – We did get a steal on it b/c it was foreclosed. Our neighbor bought the same floorplan and about the same size lot 2 years earlier when the neighborhood was new for $40k more.

Still don’t change the fact that apartments are cheaper if you factor in everything you have to purchase when moving into a house, bills, maintenance, etc.

Lord Help Us

July 20th, 2011
9:33 am

Pea, I have been in my current house for about 13 years. In fact, 22 more mortgage payments and there will be no more mortgage.

Life is a marathon, not a sprint…

Martin the Calvinist

July 20th, 2011
9:33 am

War, my account isn’t full of fees of any sort, might be slim in the account balance but I pay bills with the money I earn, not borrowed. The Federal government should do a little more of that.

Bosch, I took plenty of philosophy courses in college, I sure do understand relativity. I understand we can argue what is stupid spending all day long but there are some obvious ones like the federally funded research about subway noise is bad for subway riders.

At some point we as a country need to prioritize what spending is necessary and at what amount and stick to it.

Bosch

July 20th, 2011
9:34 am

Peadawg,

Have you ever been a landlord? Have you ever been a home owner? I am the later and have been the former as well.

When you are a landlord, you charge rent to cover all the expenses you mentioned above. If the tennant of any apartment actually went through the process to buy the home, it would be cheper for them to do so, as they could control the costs associated with the upkeep of the home.

Sorry you didn’t get to enjoy your popcorn for long.

Keep Up the Good Fight!

July 20th, 2011
9:36 am

Age of Illusion?….. perhaps Age of Delusion

Bosch

July 20th, 2011
9:36 am

“there are some obvious ones like the federally funded research about subway noise is bad for subway riders”

Have you ever worked on federal research grants? I know it’s fun and easy to nitpick about those kinds of things that to the lay man appears irrelevant. Some of it is sure, just like in any other system there is waste, but it is negligible and again is an easy point to come up with instead of addressing the real issues.

Brosephus

July 20th, 2011
9:36 am

@@

Got you and responded!!

Paul

At 9:21, somebody said take your Simpson-Bowles, turn that summb*tch sideways, and shove it straight up your candy a$$!!!!! (to paraphrase Dewayne “The Rock” Johnson’s trademark catchphrase) :)

Granny Godzilla

July 20th, 2011
9:37 am

JohnnyReb

How long does it take to get a constitutional amendment passed and why does the GOP want to wait that long to balance the budget?

Jefferson

July 20th, 2011
9:37 am

If you don’t get your way, attack the system.

WAR

July 20th, 2011
9:37 am

i dont trust people who introduce information completely unrelated to the topic:

(person #1) “you know the president and congress should really work together to get this debt ceiling thing done before it ruins the country”

(person #2) “if the president wasnt such a socialistic commie who hates America we could nuke iran with money we save from cutting taxes with oil drilling”

Peadawg

July 20th, 2011
9:37 am

“Sorry you didn’t get to enjoy your popcorn for long.” – Oh I’m going for 2nds seeing as your 9:34 made absolutely no sense. I don’t remember mentioning landlords.

RAMBLE ON!!!

July 20th, 2011
9:38 am

“broadly consistent with what we’ve been working on here in the White House.”

Hah, the only thing King O works on at the WH is his golf game.

Bosch

July 20th, 2011
9:38 am

Paul @ 9:30

Well sure, but in the general sense of things.

Peadawg

July 20th, 2011
9:39 am

Off to meetings…see y’all later!

[...] Take TurnABC News (blog)House defies veto threatWIVBNew York Times -Coshocton Tribune -Atlanta Journal Constitution (blog)all 5,368 news [...]

Dave R.

July 20th, 2011
9:39 am

:Of course, Gordon and our resident constitutional expert don’t understand that the reason the House, Senate AND at least three-fourths of the state legislatures voted to change the Senate election process was because the prior system had become grotesquely corrupt.”

Or that the political party systems endemic in the states could better assure an outcome that a state party desired. And of course our CURRENT two-party system is devoid of corruption, right, Jay?

“Nor do they understand that the drive to pass the 17th Amendment came out of the states themselves and was forced upon a reluctant Congress.”

Of course, no one actually blamed CONGRESS for the change, merely “politicians”. Of course, reading comprehension is cast aside by our host when he doesn’t have a means of actually debunking a point, so he has to “make up” another person’s contention. In many circles, that would be called dishonest; in journalism, it is accepted practice these days.

“I understand that those are mere facts, which have less and less standing in this Age of Illusion. But I continue to believe they are important. I guess I’m just quaint that way.”

Quaint? no. Snarky? Yes. Grasping at straws? Yes. Unable to face facts? Yes. Intellectually dishonest? Yes. Need I go on? No.

The point is made.

Bosch

July 20th, 2011
9:41 am

Peadawg,

“seeing as your 9:34 made absolutely no sense. I don’t remember mentioning landlords.”

I’m sorry you have reading comprehension problems, and considering you mentioned renting, you must include the price of renting which is done by the landlord.

Bosch

July 20th, 2011
9:42 am

Is it just me, or is Peadawg the king of “it happened to me this way, so that’s just the way it is?”

Martin the Calvinist

July 20th, 2011
9:42 am

Bosch, I’ve never worked on a federally funded research grant but my point is there are some stuff we can cut and we should be cutting. I’m not deliberately nitpicking but we as a country should stop overspending, surely that is a reasonable thing to do.

WAR

July 20th, 2011
9:42 am

i dont trust people who introduce information completely unrelated to the topic:

(person #1) “you know the president and congress should really work together to get this debt ceiling thing done before it ruins the country”

(person #2) “if the republigans would just give up their right to wealth with their farm subsidies and attacks on poor people who cut down trees with the American media for Big Bird, we could save the country from the land of aquarius”