'Cut, cap and balance' unlikely to end debt ceiling struggle
July 18th, 2011
01:54 PM ET
3 years ago

'Cut, cap and balance' unlikely to end debt ceiling struggle

Washington (CNN) - "Cut, cap and balance" is all the rage in some Republican quarters.

Cut a substantial amount of spending to bring down the roughly $1.5 trillion deficit expected this year.

Cap federal spending at 18 percent of the gross domestic product. It's at 24 percent of the GDP now.

Pass a balanced-budget amendment to the Constitution that includes spending caps and makes it difficult to raise federal taxes.

FULL STORY

Filed under: Congress • Debt • Deficit • President Obama • State of the Union
soundoff (11 Responses)
  1. B

    Gimmicks and games, that is what the Republicans are all about, continuing Political Propaganda.

    Anything to forward their opposition to – whatever- Obama is attempting to do that is real and lasting. As they stated, their number one goal is to make Obama a one term President.

    July 18, 2011 02:17 pm at 2:17 pm |
  2. terry,va

    Where is Obummie's plan? Someone has to do something while Obummie is either hiding under his desk, playing golf or going on $35,000 a plate re-election dinners. Here is an idea for Obummie. Resign your office and go on fund raisers to reduce the deficit that YOU created. A 135% increase in the national deficit since you have been in office is a crime. If you promise to pay it all back you don't have to go to Gitmo. How's that?

    July 18, 2011 02:24 pm at 2:24 pm |
  3. Sniffit

    Make no mistake: ALL THIS AMOUNTS TO IS THE GOP SHOOTING A CROSSROADS GPS COMMERCIAL TOMORROW AFTERNOON.

    July 18, 2011 02:32 pm at 2:32 pm |
  4. The Obama Recession Continues Unabated, Obama Depression on the way

    It is clear the Democrats only TALK about cutting, but offer NO SPECIFIC CUTS. Not sure why. They had no problem with slashing $500 BILLION from Medicare funding to re-direct it to Obamacare, yet another giant new government healthcare entitlement program that will only accelerate this country's financial mess. Wasn't that $500 BILLION cut to Medicare an assault on the elderly?

    The FACT is that Democrats are incapable of cutting anything and offering competent management of this country's money. They produced and pased NO BUDGET while running up $1.7 TRILLION deficits as far as the eye can see. Would YOU hand your paycheck over to a drunken sailor to invest in alcohol??

    July 18, 2011 02:32 pm at 2:32 pm |
  5. The Elephant In The Room

    A Balanced Budget Ammendment is political. It sounds good – afterall, what reasonable, responsible person could be against it? We've been down this road before. It is simply a re-cycled idea by Republicans in Congress trying to project that they are doing something. You can bet if we had a BBA in 2003, George Bush and the NeoCon Machine would have mangled the Constitution to get around it so that we could have an unfunded war against Iraq and Suddam Hussien. They'd have said we could have an average balanced budget over 10 years or some other such nonsense.

    The founding fathers didn't included such an restriction for good reason and its not because they glossed over it or forgot about the Treasury or the topic of money. The intent was that leaders should act in the nation's interest as a matter of being elected to high office, not because it was a law. The intent also was that the Constitutuion should be able to stand the test of time and not be changed, circumented, or selectively applied from one year to the next. We tried sticking something in that did not belong - PROHIBITION - and we see how quickly we yanked it out of the Constitution.

    Under Clinton, we had succesive RECORD-SETTING budget surpluses in '09, '99, '00 of $88B, $122B, $230B. We didn't need a balanaced budget ammendment for that and we don't need one now. What we need is a Republican-led House of Representations that is willing to work with the President instead of focussing on making him "fail" or an entire GOP-party committing to "making him a one-term president" ONLY WEEKS after he took office. Let's go to the root cause of the problem.

    July 18, 2011 02:33 pm at 2:33 pm |
  6. Robinet

    How anyone could believe Obama after the pack full of lies we heard during his campaign is beyond me. Obama says he will do something but has rarely followed through with the exception of God forsaken Obamaacare that half the country despises. I am in the financlal industry and a lot of our really wealthy clients are investing most of their money now for long term capital gains where in the past ordinary income from dividends was the choice but the higher tax rates on ordinary income is shifting investments. People have no confidence in the President ability to lead.

    July 18, 2011 02:34 pm at 2:34 pm |
  7. Bill from GA

    The article states: "the House will almost surely approve". Really? Does CNN's Chief Political Correspondent Candy Crowley believe that two thirds of the members of the House will approve this nonsense? This act of political posturing?

    July 18, 2011 02:37 pm at 2:37 pm |
  8. The Greedy Old Pigs have declared class war on US!

    Nothing but empty worthless sloganeering from the GOBPbaggers. They haven't balanced a budget in decades and are responsible for well over one half of the current deficit thanks to Reagan and Bush. Yet the teatards act is if reading magic words out of their corporatism cult handbook makes the problems they created magically go away. The real magic is that they've gotten away with distracting America for so long with their empty words. "Listen to what we say and ignore what we do."

    This is not a political party, it is a cult suffering from projection, hypocrisy and hysteria. Average Americans know better, though. The right wing extremist elites in this country refuse to ask corporations or the filthy rich to make any sacrifices, while expecting the rest of us to do so instead. Sorry, we expect shared sacrifice.

    To paraphrase St. Ronny:

    "The Greedy Old Pigs aren't part of the solution; they are part of the problem."

    July 18, 2011 02:39 pm at 2:39 pm |
  9. John

    This Is Just TEA PARTY CRAP. Just who running the Republican Party , the Conservation Group or the Tea Party.It sure Isn't John Boehner or Eric Cantor. The Republican Party can't even run there own Party how can you expect them to run this Country.The Republican Party Is becoming the America biggest joke. I was all way thought the speaker of the House was ton tell the People In there Party how to vote. Not to let Congress man or woman on there first term tell him how to run the Party. JOHN BOEHNER IS NOTHING BUT A JOKE.

    July 18, 2011 02:53 pm at 2:53 pm |
  10. Rudy NYC

    Do Republicans expect that anyone out there believes that Congress will debate and pass a Constitutional amendment between now and Aug. 2? This bill is simply put, "do work." It is a delaying tactic because it gives them something to do instead of working toward solving the problem. Even the Republicans acknowledge that the bill would never pass in the Senate, so waste time on it now.

    July 18, 2011 02:55 pm at 2:55 pm |
  11. Four and The Door

    "What these amendments do is not just say you have to balance the budget, but it puts in place spending limitations that would force us to cut Social Security and Medicare more deeply than even the House budget resolution did," Jacob Lew, the White House's budget director, said Sunday
    __________________________________________________________________________________________________
    And his alternative to get control of the financial mess we are in is to continue being in this finacial mess we are in? Or maybe he feels it would make sense to tax our way back to prosperity? Well, let's see. Their idea of buying our way back to prosperity didn't work so well, did it? I say Cut, Cap and Balance is better than anything the Democrats have put on the table.

    July 18, 2011 03:12 pm at 3:12 pm |