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And nondefense discretionary, the savings coming out of entigentit entitlement programs including medicare, medicaid, and social security, the kind of tax reform that was envisioned and the mechanisms by which tax revenue would be hard thing for republicans to accept, but was part of the deal, that would be $800 billion, that would be part of this proposal. everybody knows these details. there is there is and it s not that the people are hiding the details of the boehner plan or the reid plan, it s just, you know, there s a lot less to them than the plan that was worked on by the president and the speaker of the house. and now in the aftermath, the details of which are very well known by so many people. mike? you say everybody s on the hook for how they behaved in their votes on the economy and on this plan. does default inevitably arise if the debt ceiling is not lifted? the what happens if the debt ceiling is not lifted is that we lose our borrowing ....
The white house has already warned president obama would veto it if it reaches his desk, and yesterday, four republicans in the senate announced they are not for the boehner plan either. again, i want to repeat, if you happen to actually be the free hand of the market and you re tuning in tonight to find out whether a deal s about to happen in washington, please, turn away and think about babbling brooks and warm puppies for a minute. because with the chances of 5 grand compromise appearing as unlikely as ever, today a group of democratic leaders in the house officially urged president obama to go to plan z, to deploy{ the constitutional option. this would involve the president raising the debt ceiling on his own, without congressional authorization, by invoking his powers under the 14th amendment of the u.s. constitution. if a small group really is ....
The savings coming out of entigentit entitlement programs including medicare, medicaid, and social security, the kind of tax reform that was envisioned and the mechanisms by which tax revenue would be hard thing for republicans to accept, but was part of the deal, that would be $800 billion, that would be part of this proposal. everybody knows these details. there is there is and it s not that the people are hiding the details of the boehner plan or the reid plan, it s just, you know, there s a lot less to them than the plan that was worked on by the president and the speaker of the house. and now in the aftermath, the details of which are very well known by so many people. mike? you say everybody s on the hook for how they behaved in their votes on the economy and on this plan. does default inevitably arise if the debt ceiling is not lifted? the what happens if the debt ceiling is not lifted is that we lose our borrowing authority. ....
Debate would ruin christmas. it makes no sense. it s harming our economy now. you would have this hanging over the country at one of the most economically important periods of our country around the holiday season. that makes no sense. what we need to do over the next few days listen, the reid plan has twice the deficit reduction as the boehner plan does. little differentiation in terms of the spending cuts. what we don t want to have is have this hanging over our economy. it s an irresponsible thing to do. but there s an easy compromise here. i think the boehner plan today is political theater. there s 53 democratic senators and a number of republican senators who have said they won t support it. the boehner plan will be dead on arrival once it passes out of the house in a partisan fashion and we really need to work on what s the compromise here. deficit reduction will be done in two stages. first stage largely in the spending cut area. there s going to be a second discussion? washi ....
Analysis of the new house speaker boehner plan. here it is really quickly. in bullet points, cut and cap spending by $917 billion over 10 years versus the $900 billion hike in the debt ceiling. cut $22 billion in fiscal year 2012. and then hold spending to fy-2010 levels until at least 2016. this is down in the weeds here, reduce discretionary spending each year by these amounts, and require congress to draft proposals of reductions of $1.8 trillion. that was in the first plan. now, we ll get into some of the specifics here, but just moments ago 53 senate democrats sent out a letter to speaker boehner saying, among other things, this we need to work together to ensure that our nation does not default on our obligations for the first time in our history. we heard that in your caucus you said the senate will support your bill. we are writing to tell you that we will not support it. that was clear perhaps by nor reid and senator schumer s ....