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Sunday, July 21, 2024

Debt talks collapse as deadline nears

Sen. John Kerry: GOP stalling is "unconscionable"

Partisan bickering drove a wedge into deficit reduction efforts by the so-called Congressional “super committee” Friday as next week’s Wednesday deadline looms.

“We in trouble,” a committee staff member told Capitol Hill Blue Friday night.

The latest deadlock came as Democrats rejected the latest proposal from Republicans although the plan included some compromises.

House Speaker John Boehner unveiled the new offer that he said could save $643 billion over the next decade but that only meets half the committee’s goal of $1.2 trillion.

Democrats disputed Boehner’s claim that the plan would generate $229 billion in new revenues, saying the only revenue producer is closure of a tax break for corporate jets that produces just $3 billion.

Democratic Senator John Kerry, a member of the committee, called the Boehner proposal a sham that protects the rich at the expense of ordinary Americans.

“To have something on the table that does not require the wealthiest people in this nation to share the burden is conscionable,” Kerry said.

Republicans, of course, blame Democrats for the deadlock.

“They (the Democrats) are not willing to make any common sense reductions in spending. All they want are tax increases,” said GOP Rep. Dave Camp.

The panel did not schedule any meetings over the weekend.

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3 thoughts on “Debt talks collapse as deadline nears”

  1. I’d rather settle for the automatic reductions as opposed to any schemes these political mattoids might have dreamt up.

    I’m hoping for another U.S. debt downgrade, a 5,000 point drop of the DOW, the collapse of the ‘EuroUnion’ along with a worldwide FOREX crisis wrapped up with a asteroid incoming to put all of us out of our collective planetary misery.

    Once the dust settles, then earth and survivors with grit can experience a new dawn without politicians, bankers, preachers and other such societal parasites.

    Spearing rats with fire-hardened sticks, living in tarpaper shacks while playing the harmonica around isolated campfires will bring back the meaning of existence;I.E., daily survival and the true value of life…no?

    Most will perish due to the lack of HDTV programming and toilet paper. / : |

    Carl Nemo **==

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