Quote:
Originally Posted by TonyB06
Basically, this is a political fight. The Obama/Reid and Boehner plans are not that disperate at this point, from the analysis that I've read (and more than not, trust). The Republican plan is shorter in duration, requiring the president and congress to re-visit this "debt ceiling" issue again in the middle of next year's presidential campaign.
The Obama/Reid plan wants an agreement into 2013, past the 2012 presidential elections.
politics. as. usual.
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I think the other difference is that Reid's plan does not touch any so called "entitlements" aka medicare and Social Secruity while Boehner's plan requires that the second vote on the Debt Ceiling, which would conveniently happen during election session would consist of over a trillion dollars for cuts from these entitlements and they would be decided by a panel.
Personally, I hate when bills like this are used by either side to further an ideological agenda. The debt has been growing for 10+ years and we are not going to be able to get it under control when both parties feel like they have a gun to their head. Pass the debt ceiling and work on the deficit slowly through appriopriate budgets, Also, work to lift the economy to increase tax revenue, draw down on Wars and then cut the defense budget and let the tax cuts expire and a lot will take care of itself.