We get 2 dollars in revenue for every dollar in cuts. But Obama can't say it or the TP will kill it.

[dkf]

"The only way for the Bush Cuts to be extended is if the “super congress” committee offsets it with tax hikes or tax reform in other areas. Going after the Bush Tax Cuts in the committee would not count as reducing the deficit, because the baseline already assumes they will expire."

http://bobcesca.com/blog-archives/2011/08/upon-further-examination.html

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=433x731852#731894

[Maru Kitteh]

1. .

:thumbsup:

[The Doctor.]

2. Unrec! Untrue!

Shhhhhhhhh!

[pansypoo53219]

3. no.

SHHHHHHHHHHHHHHHHHHHHHH. freapers might see.

[jzodda]

4. We should not be cutting even one dollar..1937 all over again

FDR was facing a boom period in 1937 from all the new deal spending..What did he decide to do? Balance the budget and cut spending and it put the US right back into the depression.

This debt deal is the opposite of a stimulus. Instead of putting money into the economy to create jobs and increase demand, money is being removed. Its a classic mistake which we are going to pay a very hefty price for going forward.

[vaberella]

5. Show some understanding.

Getting the stimulus package was like biting tooth and nail and these assholes would never do it again when the regular Repubs were in office. Why do you bring up FDR where he had both Repubs and Democrats, relatively on board, so he can get shit done. Do you see ANYTHING getting done with this congress---particularly the House, without outright death threats?

There is no way this Congress would even listen to a mention of stimulus (with the word stimulus). We know what this bill doesn't do, but do you really think this Congress would allow you to get what you want---or allow ANY President--aside from Republican Presidents to get what they want? It's so easy to sit in your cubby hole and say FDR did this or that, but FDR wouldn't have a chance with teabaggers. Or maybe he would, at least he's White and these teabaggers are definitely racist.

[flamingdem]

12. +1

[Cosmocat]

8. Except ... They are NOT "balancing" the budget ...

For crying out loud, the "cuts" are like less than .01 percent GDP ...

To make it simple, this bill when it is all said and done looks like this ...

(a + b + c) + -(a + b + c) ...

But, do get in line with the republicans in trying to take down the democratic president and enable getting more Rs into the senate and house!

[quaker bill]

9. Except that it does not take effect until 1941....

Once again, we are talking no real cuts this year and only a few, largely defense, next year. We will have a new congress and a new or re-elected President before the meat of this thing comes into play. My suggestion is a very new congress without teabaggers and a re-elected President.

This is the point of "taking the issue to the public", which is what you are doing politically when you put the meat of a deal beyond the next election. There are two alternate visions, they are really quite different, and the public gets to pick.

[jzodda]

11. 1941? No

I am talking about the recession of 1937 specifically. It has nothing to do with 1941.

The 1933-36 growth was halted by a second severe downturn in 1937–38, when unemployment surged again to 19%. The fundamental cause of this second recession was a switch to contractionary fiscal and monetary policy consisting mostly of spending cuts and tax hikes which reduced the deficit by roughly 2.5% of GDP, exerting significant contractionary pressure.

It was an eye opener for economists and thus you have the largely accepted notion that its spending, not cuts, that gets us out of recession.

Here, we are talking about spending cuts all over again. I think overall that they will have a negative impact over the next year. Especially in the 2nd round with cuts to Medicare providers.

[Enrique]

6. why not make it 10?

if youre going to make up benefits of the bill that everyone knows arent there, why stop at 2?

[dkf]

7. The expiration of the Bush cuts is $3.7 trillion or thereabouts.

That is a good number

[COLGATE4]

10. If you believe the Bush cuts will be allowed to expire, watch

Lawrence O'Donnell's show from last night (8/1). He demonstrates why that cannot happen. I believe he's right.

[Fearless]

13. And we assume that the Republican / Corporate / DLCers won't

Repass the tax cuts. IT'S WHAT THEY WANT! They will FIGHT for it. Progressives are the ONLY group that doesn't want it. And we're in a large MINORITY... just look at the "deal" we've gotten as evidence. Conservative corporatists control the dialog in DC, we will lose because we were willing to gamble with loaded dice.

[tritsofme]

14. Incorrect, that is not the "only" way they can be extended at all.

Since the baseline they work off of assumes they expire, it will be difficult to recommend increases above that, which is bad for Democrats.

However it is absurd to believe that all of these cuts will expire on schedule, including the middle class. The tax cut issue will be resolved at the last minute in 2012, not out of this committee.