This is not rocket science; it is basic math.
Do you see the horseshit in here? From Eric Cantor’s blog:
In its first year, 2012, the revised bill cuts $22 billion as measured against the latest CBO baseline (while the original bill cut just $1 billion), and in the second year it cuts $42 billion (while the original cut $16 billion). These are still very small numbers in the scheme of federal spending, but the greater front-loading actually matters a lot. One reason is that the 2012 and 2013 budgets are the only ones that will actually be under the control of this congress. But even more important is the greater reduction of the baseline itself since, as we’ve witnessed in the past 24 hours, the CBO baseline is the measure of all future cuts—it sets the bar.
Spending Cuts In Boehner Bill Exceed The Increase In The Debt Limit. … the bill now meets his original target of exceeding the size of the $900 billion debt limit increase by cutting the deficit by $917 billion
Why not make 2008 the baseline, as you promised?
The problems with this are at least stated. See where he admits that this bill really only contorls the next two years. FY 2012 and 2013 are eligible to be regulated by this bill, which adds up to $64 Billion, and the rest of BS. It’s just so much magic beans. That crap about the CBO baseline is just more distance between the GOP and the very clearly worded Pledge from 2010. Cowards. Why not make 2008 the baseline, as you promised? Screw the CBO and screw their butt-simple models which always (gee, that’s funny…) favor Krugman’s totalitarian Keynesian schemes.
Yet they want to increase the debt limit by $900 Billion, right away. The moment the law goes into effect. Oh, and empower a panel to commit the House and Senate to future votes, which would have the power to raise taxes, but not cut spending. Not realistically. This is the result of A) chasing the chimerical deficit as a goal rahter than cutting spending, and B) pulling the same trick as ObamaCare in specifying a couple of years of bad stuff (instant debt limit increase), against the agonizing decade of cut-rate good stuff (spending cuts) just to supposedly break even.
Here’s what I would support, if I had to take up a bill like this:
A debt limit increase which matches spending cuts each year. You only find $22 Bn in cuts for 2012? Fine, then that’s how much you can increase the debt limit for 2012. This would motivate both sides of the equation in the proper directions. It’s a PAYGO rationale, which doesn’t have to be bulletproof (it never is), but which at least doesn’t constitutie such a breathtaking lie as to say that raising the debt limit right now by $900 Bn is balanced by $64 in cuts and a lot of Hope for Change in the outyears. We know it will not happen, and your weasel words are not helping.
Tea Party to GOP: This is not even an honest attempt to fulfill a single conservative goal. This is you guys running scared before Obama the Balrog and his flaming whip called Default. Except it’s all make-believe–it’s really a pencil-necked geek in mom jeans with a deathgrip on a teleprompter.
You are making a bad mistake.