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View Full Version : Twiter: Ried to announce plan to break the "impasse"




Agorism
07-24-2011, 03:23 PM
http://twitter.com/#!/tedbarrettcnn/status/95234234372984832


Facing impasse, Reid to unveil $2.5 T debt package. TBA dollar for dollar cuts, no revenues. Per Senate Dem aide.


Don't forget that we went past the debt ceiling a long long time ago, and Obama is still spending anyways.

Redstate blog: Psssstt, we hit the debt ceiling on May 16th

Obama still spending though. (http://www.redstate.com/teresakoch/2011/07/24/psssst-we-hit-the-debt-ceiling-on-may-16th/)

angelatc
07-24-2011, 03:32 PM
No new revenue? Obama will be mad.

Which is about the most I can get excited about, because I already know this bill is a hot pile of steamy nothing.

Agorism
07-24-2011, 03:44 PM
Zerohedge on the "deal" (http://www.zerohedge.com/news/latest-debt-ceiling-crisis-reid-offer-25-trillion-deficit-reductions-and-not-tax-increases)


And we are confident that the spending "cuts" will take place over 10 years, back-end loaded, which means no spending cuts any time soon. Said otherwise, no spending cuts, no tax hikes. And yes, $2.5 trillion debt ceiling increase. Just as we predicted two weeks ago.

Brett85
07-24-2011, 03:54 PM
Zerohedge on the "deal" (http://www.zerohedge.com/news/latest-debt-ceiling-crisis-reid-offer-25-trillion-deficit-reductions-and-not-tax-increases)

Yep. There's no such thing as a 10 year budget. The only thing that matters is the amount of spending cuts this year, because future spending cuts will never happen. Still, even a clean increase in the debt ceiling is better than enormous tax increases.

Agorism
07-24-2011, 03:58 PM
Yep. There's no such thing as a 10 year budget. The only thing that matters is the amount of spending cuts this year, because future spending cuts will never happen. Still, even a clean increase in the debt ceiling is better than enormous tax increases.

What about Rand's 5 year plan or whatever...