The Rockin Johnny B

Wednesday, July 20, 2011

Cutting the Deficit

‘Gang of Six’ pushes plan to cut deÿcit
Crapo among senators with bipartisan proposal that would curb Social Security benefits growth, reduce some tax breaks
   The Associated Press
   loophole-choked U.S. tax code.
   The plan would also repeal a new long-term care program established under last year’s health overhaul and force up to $500 billion in cuts from federal health care programs over the upcoming decade, according to docu-Capitol 
Hill Republicans, however, have failed to reach an accord on what kind of spending cuts to pair with any increase in the borrowing cap.
   The six senators backing the deficit initiative are Tom Coburn, R-Okla., Mike Crapo, R-Idaho, Saxby Chambliss, R-Ga., Kent Conrad, D-N.D., Mark Warner, D-Va., and Dick Durbin, D-Ill.
   Their plan calls for an immediate $500 billion “down payment” on cutting the deficit as the starting point toward cuts of more than $4 trillion over the coming decade.
   House GOP freshmen face political pressure of debt showdown.
   WASHINGTON — The bipartisan “Gang of Six” senators offered a major plan on Tuesday to cut the deficit by more than $4 trillion over the coming decade, but whether it can break through the budget debate will depend on whether Republican lawmakers can find a way to endorse more than $1 trillion in tax increases.

This plan depends upon the two sides agreeing to increase taxes as well as cutting benefits.  My problem is the cuts to Social Security and health programs.  Why those?  I am against cutting programs that help the poor and disabled.

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