is this plan "shared sacrifice"?

[neverforget]

Do the wealthy get any cuts or tax increases? Corporate loopholes closed?

http://www.msnbc.msn.com/id/43949638/ns/politics-capitol_hill/

<snip>
The spending cuts would come from hundreds of federal programs across the face of government — accounts that Obama said would be left with the lowest levels of spending as a percentage of the overall economy in more than a half-century.

The increased borrowing authority includes $400 billion that would take effect immediately, and $500 billion that would be permitted after Congress had a chance to block it.

In the second stage, a newly created joint committee of Congress would be charged with recommending $1.5 trillion in deficit reductions by the end of November that would be put to a vote in Congress by year's end. The cuts could come from benefit programs such as Medicare, Social Security and Medicaid as well as from an overhaul of the tax code.

The committee proposals could trigger a debt limit increase of as much as $1.5 trillion, if approved by Congress. But if they do not materialize, automatic spending cuts would be applied across government to trim spending by $1.2 trillion.
<snip>

Guess not. But at least SS, Medicare and Veterans benefits are protected......until the Super Congress gets their hands on it.

Hostage taking works. We will be here again and soon. What's going to stop the T-Baggers from holding something else hostage?

[NYC_SKP]

1. "Many federal benefits programs, however, would not be covered by this"

"Many federal benefits programs, however, would not be covered by this, including Social Security, Medicaid, veterans' benefits, and federal retirement benefits."

WIN.

[neverforget]

3. In the second stage

"The cuts could come from benefit programs such as Medicare, Social Security and Medicaid as well as from an overhaul of the tax code."

[OHdem10]

2. SS, Medicare and Medicaid are still on the table. It is a matter

of time.

[neverforget]

4. Correct. The Super Congress puts it on the table.

[TheWraith]

5. False. They are free to recommend anything they like, but that doesn't mean it'll pass.

And in the very likely event that what they recommend doesn't pass, Medicare and Social Security are exempt from automatic cuts.

[neverforget]

6. But they're on the table and that is true. And where is the shared sacrifice?

[alcibiades_mystery]

8. The Joint Commission is just as likely to recommend tax increases

Don't let Boehner's slide show fool you. There will be revenues, and the GOP will vote for them rather than see their precious defense projects go up in smokes.

[neverforget]

12. Forgive me if I'm rather cynical but I don't believe there will be any tax increases

passed out of the committee. I hope and pray that it happens but I just don't think it'll happen.

What I see happening here, is that the committee will deadlock and the automatic spending cuts will take hold and thus get no tax increases. The Republicans can win 2 ways here (deadlock or a bill with no tax increase which would be voted down in the House anyway) while the Democrats only one way: a tax increase out of the committee. It's just not going to happen and the the poor and middle class will sacrifice while the wealthy don't do shit. Where is the shared sacrifice? I just don't see it.

Even now the Republicans are trying to lessen the Defense cuts. More hostage taking is coming......

[alcibiades_mystery]

13. Cynicism is beside the point

I'm cynical. Hell, we should all be.

I'm talking about mechanisms and structures.

The GOP will vote for tax increases through the committee, because they'll have no choice. That's how it's been set up. They can scream and yell about the Defense cuts. It doesn't matter. That's the deal. In fact, the reason they ARE screaming and yelling about the Defense cuts is because they know that that's the way Obama snuck revenue in through the backdoor.

So, prediction 1, based on the structure: The bill will go forward with the current defense cuts intact.
Prediction 2: The GOP, against the wall on the defense cuts, will vote FOR tax reforms coming out of the joint committee.

Feel free to bookmark.

:-)

[neverforget]

14. I hope you're right and I'm wrong but I'll bookmark this and we'll revisit

this again at the appropriate time.

:hi:

[alcibiades_mystery]

15. We'll know the status of the first prediction by tomorrow

:-)

[Life Long Dem]

10. It's never off the table.

[OhioChick]

7. Shared sacrifice, my ass...

Hit up the wealthy! End the wars!

[Ruby the Liberal]

9. Yet, we can't even go to the tax rates of 15 years ago, much less the 1960s

[bhikkhu]

11. The cuts include the pentagon

...and the sums asked for, spread out over ten years, aren't far from what was already being cut with the war draw-downs. The rest is a push against "waste and fraud", loopholes, and so forth. There's always things to worry about going down the road in this kind of environment, but basically nothing specifically got chopped.

I think the 'baggers will wake up the day after and, like after the last budget battle, wonder what the heck they really agreed to - they talked big and got nothing.

[Tierra_y_Libertad]

16. No doubt Obama will stick to his pledge of non-acceptance of any bill without revenue increases. .

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1625143

I can see him flourishing his veto pen when they try to sneak it by him

[neverforget]

17. kick