3 Big Victories for Obama & Dems in Debt Ceiling Fight – Republicans Just Trying to Save Face [View All]

[Kurmudgeon]

Source: dailykos.com

"White House/Democrat Wins:

• Spending cuts ($2.4 trillion over 10 years) are a little more than half of what was originally on the table.

• Nearly 40% ($350 billion) of the initial $900 billion in cuts comes from the defense budget. The remaining $550 billion over 10 years results from caps on discretionary spending (not itemized cuts), so expect the President and Dems to fight to spread those losses out to places where they’ll have the least impact.

• Of primary importance to Obama’s base, all entitlement benefits and many programs for the poor are exempt from current cuts and the trigger cuts.

• The “triggers,” or fail-safe plans, heavily favor Democrats. If the bi-partisan commission fails to agree to a balanced plan – or Congress fails to pass a balanced plan – the Defense budget alone will take half the spending cuts ($600-750 billion). This trigger gives Democrats significant leverage.

• The process is gimmicky and allows Congress symbolic votes of disapproval, but essentially the agreement will raise the debt ceiling through 2012, one of Obama’s biggest sticking points – meant to settle financial markets and to avoid repeating this charade before the election.

• Did you notice that repealing the health insurance individual mandate – Boehner’s big last-minute sticking point – is no longer part of the deal? Don’t think that wasn’t a hard-won battle."

Read more: http://www.dailykos.com/story/2011/08/01/1001645/-3-Big-Victories-for-ObamaDems-in-Debt-Ceiling-Fight-%E2%80%93-Republicans-Just-Trying-to-Save-Face

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Amidst all the complaining that's been going on, I figured this was worth sharing.