the US governments AAA bond rating will be lowered. The extra interest will cost $100billion to $200billion per year, erasing any potential savings from lowering discretionary spending.
I love it when a plan comes together.
Original Post
Replies sorted oldest to newest
What plan! Imperious leader has submitted no plan and welched on the one plan agreed upon. Plus, he's promised to veto the Republican plan. The Senate plan might pass the Senate, but barely. Obama knew about this for months, yet did nothing.
Even his budget for FY12 was vetoed by the Senate by 97 to 0.
The Reid proposal cuts more from the deficit than the Bohner proposal. But the Repubs have already vowed to vote against it.
The POUTUS doesnt create legislation, that is the job of the House of Representatives.
The POUTUS doesnt create legislation, that is the job of the House of Representatives.
Your sage wisdom is lost on some here I'm afraid.
The Reid plan has yet to see the light of day. Nor, scoring by the CBO.
Lest you forget, the credit rating agencies stated it wasn't just the debt ceiling, but a plan to reduce the debt they would be passing judgment upon.
Wrong. Again.
Boehner rallies GOP to his debt plan; CBO finds rival Reid proposal saves more
The nonpartisan Congressional Budget Office said Wednesday that a Senate proposal to lift the legal limit on the national debt would slice $2.2 trillion from the federal deficit over the next decade, short of its $2.7 trillion target but far more than the cuts in Boehner’s plan.
The nonpartisan Congressional Budget Office said Wednesday that a Senate proposal to lift the legal limit on the national debt would slice $2.2 trillion from the federal deficit over the next decade, short of its $2.7 trillion target but far more than the cuts in Boehner’s plan.