(Editor’s Note: Tea Party backed representatives better think long and hard about the vote they cast on this new credit card for the federal government. More Americans are waking up each day and those that have been awake and constitute the Tea Party have incredibly long memories, accurate math and facts, and qualities the District of Criminals lacks; a spine and principles. The Tea Party is now entrenched enough to hold congress accountable and we are still going to be standing on the wall watching every move you make and growing the revolution until we stop the looting.)
For weeks we have been watching the criminals push the debt ceiling debate to the very last freakin’ moment in hopes of being able to panic the nation enough in order to pass THE WORST POSSIBLE BI-PARTISAN RAPE AND PILLAGE OF AMERICA. Here it comes folks, with just a dash of another liberty lost, the Super Congress of 12 jokers making decisions for the rest of America and the Constitutionally mandated Congress will only have an up or down vote on anything these criminals decide to foist on us. The Tyranny Continues as the Washington, D.C. mafia uses the red herrings of Medicare and Military cuts to keep you looking the wrong way.
What is it going to take to WAKE UP the REST OF AMERICA!
Under the new proposal, if the new legislative body, made up of six Democrats and six Republicans from both chambers, doesn’t come up with a bill that cuts at least $1.5 trillion by Thanksgiving, entitlement programs will automatically be slashed.
Under the reported framework, legislation the new congressional committee writes would be fast-tracked through Congress and could not be filibustered or amended.
The rest of the pillaging details, and please stop believing the hype of a deficit reduction deal when this is really a way to give Obama and the federal government yet another credit card to default on later…
Sources from both parties tell ABC News that the major potential roadblock in deficit negotiations– the triggers — are now essentially agreed upon. The plan is for the House to vote on this tomorrow, assuming all goes according to plan.
The agreement looks like this: if the super-committee tasked with entitlement and tax reform fails to come up with $1.5 trillion in deficit reduction that passes Congress, the “neutron bomb” goes off, — as one Democrat put it — spending cuts that will hit the Pentagon budget most deeply, as well as Medicare providers (not beneficiaries) and other programs.
If the super-committee comes up with some deficit reduction but not $1.5 trillion, the triggers would make up the difference.
So it’s a minimum $2.7 trillion deficit reduction deal.
$2.7 trillion over 10 years;
270 $100 billion a year. Do any of you really believe that they are going to cut a measly $270 $100 billion in spending (out of a $17 TRILLION DEBT HOLE) or is it more likely that this is the only way to keep the looting going while the elites attempt to figure a way out of the impending global economic collapse they intentionally or inintentionally instigated with their greed?
And the debt ceiling will be raised by $2.4 trillion in two tranches: $900 billion immediately, and the debt ceiling will be raised by an additional $1.5 trillion next year – either through passage of a Balanced Budget Amendment, which is unlikely, or with Congress voting its disapproval..
They are giving Obama a credit card for $2.4 Trillion to be spent by the end of 2012; 17 MONTHS.
Two items still being negotiated:
1) The exact ratio of Pentagon to non-Pentagon cuts in the trigger – Democrats want 50% from the Pentagon, Republicans want less;
2) Democrats want to exempt programs for the poor from the cuts.
Also Democrats say –- if tax reform doesn’t happen through the super-committee, President Obama will veto any extension of Bush tax cuts when they come up at the end of 2012, further creating an incentive for the super-committee to act.
All sides hope this will be enough to convince the markets and ratings agencies that the federal government is serious about deficit reduction -– in order to avoid default.
Both sides will declare victory –- last week the biggest difference between the Boehner and Reid proposals was whether, as the GOP demanded, there would be another debt ceiling vote before the election. That wont happen in this deal.
But at the same time, Republicans got almost every single other item that they pushed in this process.
So now the policy has been negotiated, for the most part. But now comes the selling –- the politics. And this has been a political debate more than a policy one.
It’s still unclear if House Speaker John Boehner, R-Ohio, can rally his troops to support this, though House GOPers say they should be able to get to 217 with some Democratic support.
There is less of a concern about the Senate.
Please note that this is still a fluid process, so even though this negotiation is close to final it is not done until the bill hits the floor of the House for a vote.
— Jake Tapper
A Visualization of The US National Debt from Jared Law at the 9.12 Project (make sure to scroll down and then send to everybody you know):