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Unread 2011-07-23, 8:11   #1
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b0rg9
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For Immediate Release
July 22, 2011

Remarks by the President

James S. Brady Press Briefing Room

6:06 P.M. EDT

THE PRESIDENT: Good evening, everybody. I wanted to give you an update on the current situation around the debt ceiling. I just got a call about a half hour ago from Speaker Boehner who indicated that he was going to be walking away from the negotiations that we’ve been engaged in here at the White House for a big deficit reduction and debt reduction package. And I thought it would be useful for me to just give you some insight into where we were and why I think that we should have moved forward with a big deal.

Essentially what we had offered Speaker Boehner was over a trillion dollars in cuts to discretionary spending, both domestic and defense. We then offered an additional $650 billion in cuts to entitlement programs -- Medicare, Medicaid, Social Security. We believed that it was possible to shape those in a way that preserved the integrity of the system, made them available for the next generation, and did not affect current beneficiaries in an adverse way.

In addition, what we sought was revenues that were actually less than what the Gang of Six signed off on. So you had a bipartisan group of senators, including Republicans who are in leadership in the Senate, calling for what effectively was about $2 trillion above the Republican baseline that they’ve been working off of. What we said was give us $1.2 trillion in additional revenues, which could be accomplished without hiking taxes -- tax rates, but could simply be accomplished by eliminating loopholes, eliminating some deductions and engaging in a tax reform process that could have lowered rates generally while broadening the base.

So let me reiterate what we were offering. We were offering a deal that called for as much discretionary savings as the Gang of Six. We were calling for taxes that were less than what the Gang of Six had proposed. And we were calling for modifications to entitlement programs, would have saved just as much over the 10-year window. In other words, this was an extraordinarily fair deal. If it was unbalanced, it was unbalanced in the direction of not enough revenue.

But in the interest of being serious about deficit reduction, I was willing to take a lot of heat from my party -- and I spoke to Democratic leaders yesterday, and although they didn’t sign off on a plan, they were willing to engage in serious negotiations, despite a lot of heat from a lot of interest groups around the country, in order to make sure that we actually dealt with this problem.

It is hard to understand why Speaker Boehner would walk away from this kind of deal. And, frankly, if you look at commentary out there, there are a lot of Republicans that are puzzled as to why it couldn’t get done. In fact, there are a lot of Republican voters out there who are puzzled as to why it couldn’t get done. Because the fact of the matter is the vast majority of the American people believe we should have a balanced approach.

continued... http://m.whitehouse.gov/the-press-of...arks-president



This whole thing is disgusting, and the fact that some will continue to defend the ignorant-right is sad. But what should we expect from a political ideology that appears to be, in essence, "Scream 'no!', make everything stop, fight against any suggestion, fillibuster anything the other guys want while lying bald-facedly whenever convenient... then turn around and bitch about a lack of results while trying to blame the other guy for it"?

Empathy-less selfishness. Willful ignorance, and unrepentantly misinformed about the remaining. Sociopathologically hypocritical. Blindly dogmatic to beliefs in fairy tales about a country that never was. And yet, they'll keep winning elections because the ability to create fear of the unknown and/or different will always be powerful for some small, but significant and vocal, part of our society.

But, yeah, "both sides are bad." Right.
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Unread 2011-07-23, 8:43   #2
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I am sorry, I signed a pledge stating that I would not read internet rants.
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Unread 2011-07-23, 13:48   #3
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Hmm, $1.65 trillion in cuts over the course of a decade that may or may not actually come to pass with changing administrations, and Congresses...the promised cuts never have come to full fruition in past negotiations of a similar nature over the last few decades. Seeing as how that barely covers this years deficit as it stands, seems to me there is more work to be done.
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Unread 2011-07-23, 19:45   #4
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b0rg9
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Well, in all fairness it's more like 2.4 trillion -- but yeah, across a decade so meh, that dilutes it quite a bit. Plus what you mention about changing administrations.

Sure there is more work to be done. And that work is on both seeing what can be squeezed out in spending -- including heavy hitters like defense -- and on revenue generation, whether it be closing loopholes or removing historic low tax brackets for those that can wipe their asses with $1000 bills and still put more aside for their great grandkids' asses.

This whole thing is about compromise. Obama has almost been servile in this and has taken a 10 mile gap between views and narrowed that to within a few yards. You may not agree but I feel this to be true. The problem here is this tea party thing and those freshmen in congress now carrying that torch that want nothing to do with compromise. The debt ceiling is not about us going further into debt. It's about the debt we've accrued now. I can appreciate an ideology that is for less debt and less taxes, but a smart approach must be taken and we CAN NOT DEFAULT.

From a selfish individual perspective, I need to get a new roof on my house, a new kitchen is immanent and other work around my place abounds. This requires a home equity loan. I do not, nor will ever through any saving, ever be able to pay that in cash. I don't want to do any of that in the future under some 80's era 17% interest rate because our government crashed the economy just because a few ignorant folk thought nothing bad would happen and/or needed to stick it to Obama.
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Unread 2011-07-23, 20:31   #5
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ash#
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My company already reduced our production schedule by 40 percent over the next three months because of how the economy is re-shitting itself right now. 40 percent. Next month in one of our factories we will run 2 out of 13 lines. Fucking 2 lines. One of our other factories will run 6 out of 19 lines. I really hope that Washington doesn't decide to default, since I, unlike some in the House, believe that will make it WAY WORSE. I don't know how much more we can cut production.

I personally believe that there should be a balanced approach where spending and revenue are both part of the equation. I love the idea of closing loopholes and while lowering overall tax rates with a net increase in tax revenue. I also think that entitlements and defense and everything else is on the table and should get cut bigtime. Can't be all one or the other though.
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Unread 2011-07-24, 5:59   #6
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Chuck
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Not mine but I agree with this that was posted on facebook.

Quote:
"Entitlement" my ass, I PAID cash for my social security insurance! Our benefits aren't some kind of charity or handout. Congressional benefits -- free premium federal health care, enormous retirement packages, 67 paid holidays, 3 weeks paid vacation, unlimited paid sick days -- now THAT is welfare! And they have the nerve to call my retirement "entitlement"?
I am "entitled" to it, been paying in 40 years so yeah I am mad if I hear they think I should be fucked out of it. Seniors not really making it now and we have the nerve to say well prepare for worse, well the only worse is dying. How do I know? Both my mom and mother in law struggle with what they get. I help all I can but it isn't easy.
Best bet for saving money is to try our best to maybe not be in never ending wars. Now who was that commie president that warned us about the military industrial complex? Oh yeah it was Eisenhower. You know republican, former commanding general.
Tax raises for the rich, if lower taxes really made more jobs all these years of Bush era tax cuts would mean we would have to be putting a call out begging for help to fill jobs. I am not saying cripple the little guy, a contractor who pulls in a few hundred grand a year. We all know who should be doing more, millionaires, billionaires and corporations making vast profits.

Last edited by Chuck; 2011-07-24 at 6:10.
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