The following is a summary of the bill that so many are griping about. The summary is from a Progressive website called the People's View. Despite what Sen. Bernie Sanders is spouting IT DOES NOT TOUCH SS, MEDICARE OR MEDICAID. Quite the opposite, in fact. Also, the "sequester" is NOT the Super Congress we've heard about since ALL RECOMMENDATIONS ARE TO BE VOTED ON BY CONGRESS.
"1) The uncertainty over U.S. economy is no longer threatened by default.
2) 10-year discretionary spending caps (defense and non-defense) generating nearly $1 trillion in deficit reduction
3) $350 Billion from the Base Defense Budget – the First Defense Cut Since the 1990s.
4) Protection in the discretionary budget to the Pell Grants investment that will award a maximum of $5,550, helping over 9 million students pay for college tuition.
5) Increase the debt limit by $2.1 trillion
6) No debt ceiling increase drama after the 2012 election.
7) Creates a bipartisan committee to identifying an additional $1.5 trillion (which is part of the $2.4 trillion package) in deficit reduction, including from entitlement and tax reform, where by Congress is to vote by December 23, 2011.
8) If the bipartisan committee fails, enforcement mechanism will trigger spending reduction in the amount of $1.2 Trillion in Deficit Reduction beginning in 2013 that will include a 50/50 cut between domestic and defense spending.
9) Enforcement mechanism protects Social Security, Medicare beneficiaries, and low-income programs from any cuts or these programs are off limit to any sequester.
About the sequester: If the the bipartisan committee fails:
Sequester Would Provide a Strong Incentive for Both Sides to Come to the Table: If the fiscal committee took no action, the deal would automatically add nearly $500 billion in defense cuts on top of cuts already made, and, at the same time, it would cut critical programs like infrastructure or education. That outcome would be unacceptable to many Republicans and Democrats alike – creating pressure for a bipartisan agreement without requiring the threat of a default with unthinkable consequences for our economy."
WTF is wrong with this bill? Oh yeah, NO INCREASE IN TAXES ON THE RICH! Kindly remember that the cuts will expire on the last day of 2012. IF we get off our asses, and quit listening to Ed Schultz (stay home in 2010 to teach him a lesson!) Firedoglake and Jane Hamscher, who is friends with Grover Norquist by the way, who told her people to stay home as well. IF we actually do something to put the Alan Grayson type Democrat back in Congress we will NEVER have to deal with tax cuts to the rich again.
Hello??? The Professional Progressive Bloggers put their websites ahead of what was good for the nation and then the Tea Party got elected. They whine, they screech, they point fingers and blame this all on the President, when they were the ones who saw to it the Democratic Party lost in 2010.
Full article can be read HERE!