Wednesday, July 20, 2011

The Gang oF Six

There's lots of media hype about the Gang of Six plan, a plan floating around in the Senate to get us past August 2nd, the Presidents self-imposed Day of Doom when the government goes into default, the sky falls and everyone is forced to wear sack cloth and ashes.

I'd really like to see the plan, as it calls for some evening of the tax code and some budget cuts. From what I've seen, they're going to make the tax adjustments now, such things as cutting tax breaks for ethanol blenders and ending accelerated depreciation, which most people don't understand anyway, but which gives business a huge incentive to buy new equipment. The cuts will come in later years. SO, it's tax now, cut later.
In another politically risky move, the Gang of Six plan would achieve significant savings in healthcare programs, Conrad said. The specific spending cuts would be decided later by congressional committees.
Decided later by congressional committee? Why? You've got a plan to increase taxes now. Why not show us the spending cuts you intend to implement? Because you don't have any, and any spending cuts are likely to be voted down in Congress once the Gloom and Doom deadline has passed.

For me personally to get behind any plan, the spending cuts will have to be immediate. If I can't see immediately where the cuts will happen, then it's only half a plan. If you're going to have dramatic revenue enhancement, then show us dramatic spending cuts that take effect immediately. Otherwise your plan is just more bullshit.

Bullshit is what I expect of the Senate, our President, and the Democratic Party in general. Show us the whole plan, and have it take effect immediately. Otherwise, you'll get your revenue now and the cuts will never happen.

1 comment:

Peripatetic Engineer said...

"I'd gladly pay you Thursday for a hamburger today"

J. Wellington Wimpy