August 1, 2011

radio-limbaugh

On the very mixed bag which is the new debt ceiling deal…

There supposedly are no tax increases in this. Yet the CBO… is counting on the Bush tax cuts expiring. Next year the Bush tax cuts are set to expire. That’s going to be a tax increase without anybody having to vote for one. Now, it’s also possible that the Bush tax cuts will be extended… and I think it’s 50/50… if that happens, then what happens to the CBO score? The CBO score is thrown out the window. The CBO score is BS anyway but if the Bush tax cuts are extended, the CBO is going to score that as a major cut, which will have to be replaced. A cut in government revenue. If the Bush tax cuts are extended that’s less revenue than the government’s counting on, which means that the (Debt) Commission will have an automatic excuse to go in and raise taxes.

July 25, 2011

limbaugh-radio

On the latest version of the Boehner plan...

Boehner’s plan, basically is 1.1, 1.2 trillion dollars in cuts. No defense cuts. No new revenue, no tax increases. In exchange for raising the debt ceiling a trillion dollars. Each member of congress – well, two members of each leadership, will get to name three members to a congressional blue-ribbon panel to actually make the cuts. So it’d be a 12-member commission, six appointed by Democrats, six appointed by Republicans. They would report back, and, debt ceiling runs out in April, here we are all over again. Obama, if this thing survives, this is what will be set up for him to sign. No guarantee on that yet but that’s the only thing that’s on the table right now.