Back in August, right after the passing of the debt ceiling deal and the subsequent reduction in the United States' credit rating, Congress setup a special, 12-member bipartisan joint committee to find an additional $1.5 trillion in budget savings by Thanksgiving.
Today Democrats from the committee revealed a plan that mimics President Obama's failed "grand bargain." Worth up to $3 trillion, the package includes $400 billion in cuts to Medicare, $80 billion in cuts to Medicaid, a tax increase on upper-income earners and a reduction in available deductions.
It should come as no surprise to anybody with a brain that Republicans find the tentative deal to be "outrageously absurd" and a "non-starter." Once again, Democrats have capitulated on entitlements, only to be rebuffed by Republicans because the deal includes a tiny tax hike.
Here's some advice to all your Republicans out there: Part of growing up entails learning to negotiate like a good, reasonable little boy. Can you do that? Huh? What if I give you a tasty cookie!?
Sources: Los Angeles Times, CNN
Wednesday, October 26, 2011
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