Same thing happened with Reagan. They promised cuts later, but later never came!
They think they can pull the wool over our eyes again by pretending to have this Herculean fight over the debt ceiling and coming up with a plan that raises the ceiling now and cuts nothing now!
Democratic and Republican leaders preserve status quo on Capitol Hill
By Emily Miller
The Washington Times
8:01 p.m., Monday, July 25, 2011
Illustration: Obama spending by Linas Garsys for The Washington Times
Congressional Democrats and Republicans waged a war of words on Monday over their debt-ceiling plans, but their agendas amount to pretty much the same thing. Washington just can’t kick its spending habit.
Both the blueprints cooked up by House Speaker John A. Boehner, Ohio Republican, and Senate Majority Leader Harry Reid, Nevada Democrat, claim 10-year domestic spending reductions equivalent to a bit over $1 trillion with the creation of new committees to find more spending reforms.
Neither leader will provide hard numbers for budget reductions in 2012, the only enforceable year. That means borrowing is immediate and spending cuts delayed. Neither plan raises taxes. The primary distinction between them is that Mr. Boehner seeks a smaller debt-ceiling increase, forcing President Obama to come back hat-in-hand in 2012 for more borrowing authority.
Mr. Reid’s hocus-pocus is phonier than usual. His plan banks on $1 trillion in savings from the eventual “winding down” of the Iraq and Afghanistan wars. So that means essentially he’s giving the president $2.7 trillion to spend with only $1.7 trillion in alleged cuts. It’s obvious that Mr. Reid’s main motivation is pushing the issue beyond the election so Mr. Obama has the best shot at a second term.