Obama announces debt deal--GOP/Tea Party members WIN big!

[Remodeling Maidiac]

This is a victory for the right. It severely damages the left making the next election easier. The msm and msnbc are already up in arms complaining about Obama and Reid. That's a victory any day of the week.

And don't give me that "this isn't a game" bullshit. Cause as long as the left hold power the people will never win. This is very much a "ditch the dems game"

 

[Neotrotsky]

Most of the states in this country have required balanced budget amendments--maybe you don't live in one of those--but I do-- You'll find that those balanced budget states are doing much better than those states that don't have a requirement to balance their budget.

What? Every state but Vermont has a Balanced Budget Amendment. So clearly the Balanced Budget Amendment doesn't make a difference when it comes to the states since a lot of them would be in deep trouble if not bankrupt without the Federal Government.

What is meant by a balanced budget is not as clear as it may seem intuitively. Even the number of states whose laws require a balanced budget can be disputed, depending on the way the requirements are defined. The National Conference of State Legislatures (NCSL) has traditionally reported that 49 states must balance their budgets, with Vermont being the exception. Other authorities add Wyoming and North Dakota as exceptions, and some authorities in Alaska contend that it does not have an explicit requirement for a balanced budget. Two points can be made with certainty, however: Most states have formal balanced budget requirements with some degree of stringency, and state political cultures reinforce the requirements. ​

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Grants and reimbursements from the federal government make up most of a state’s non-general fund. The question of balancing these revenues with expenditures does not arise since states can spend only as much as they receive. State non-general fund expenditures from state sources tend to be from revenues legally designated (or “earmarked&#8221 for specific purposes and controlled by their availability. Bond finance for capital projects, the purpose of which is borrowing against future revenues, is generally not considered by policymakers to fall within any constraints of a balanced budget requirement​

Mandates from the Federal gov't put upon States shows
not the "necessity" of the Federal gov't. It tends to show
the over burdening regulation coming out of DC.

If those mandates did not exist then the states would not have
to come up with those funds to service the Federal gov'ts demands.

 

[Mr.Nick]

I thought they wouldn't vote for anything less than 4 trillion over 10 years and a balanced budget Amendment?

Its a start...

 

[Modbert]

By the way, Perry in Texas recently "balanced" their budget through accounting maneuvers. Which is exactly what Congress is going to do while they "exempt" most of the major stuff from cuts like defense.

 

[Remodeling Maidiac]

No, not for ‘all of us,’ or at least anyone serous about debt reduction.

Serious debt reduction will NEVER happen when dems still hold power.

It won't happen even if the GOP holds all the cards.

I disagree. The establishment republicans have also been compromised. This could be a turning point. Key word "could"

 

[oreo]

Most of the states in this country have required balanced budget amendments--maybe you don't live in one of those--but I do-- You'll find that those balanced budget states are doing much better than those states that don't have a requirement to balance their budget.

What? Every state but Vermont has a Balanced Budget Amendment. So clearly the Balanced Budget Amendment doesn't make a difference when it comes to the states since a lot of them would be in deep trouble if not bankrupt without the Federal Government.

Ever heard of a state called CALIFORNIA-- Running a 48 BILLION dollar deficit--and looking toward the Federal Government to bail them out.

In fact--it's so bad in California--we would have to pay Mexico to take it back--

 

[Modbert]

http://www.ncsl.org/?TabId=12651​

From your very own link:

Two points can be made with certainty, however: Most states have formal balanced budget requirements with some degree of stringency, and state political cultures reinforce the requirements.

​

 

[JakeStarkey]

The Dems are in position to know the BBA votes out of the park and will campaign on just how stupid this requirement was in the first.

The Tea Party will be irrelevant once the votes are in tomorrow.

 

[oreo]

http://www.ncsl.org/?TabId=12651​

From your very own link:

Two points can be made with certainty, however: Most states have formal balanced budget requirements with some degree of stringency, and state political cultures reinforce the requirements.

​

Well my state of Colorado takes our "balanced budget requirement" very seriously--because they balance our state government budget each and every year.​

 

[Modbert]

Ever heard of a state called CALIFORNIA-- Running a 48 BILLION dollar deficit--and looking toward the Federal Government to bail them out.

In fact--it's so bad in California--we would have to pay Mexico to take it back--

California has a balanced budget amendment too. So thanks for proving my point about why the BBA doesn't work.

 

[Neotrotsky]

Then why fear it ?

 

[Google]

I thought they wouldn't vote for anything less than 4 trillion over 10 years and a balanced budget Amendment?

I've constantly read and heard liberals belittle the Tea Party, saying it held no real power and the last elections were not a true litmus of the will of the American people.

No, $1 trillion isn't a victory--it's a start. The president didn't get the one thing that he insisted on so persistently, at times even lying about the possible consequences. The statement that Social Security checks wouldn't be sent out was a lie.

But hey, this whole thing was political. There was never any real danger or crisis. The fact that $1.6 trillion of the $14 trillion--now growing--national debt is held by the Federal Reserve. That debt could have been dissolved, the president or congress had that authority. If it really came down to it the FED could have done it themselves.

But judging which side got the most of what they wanted, especially considering the starting point, yes this is indeed a victory for the Tea Party. Now it is time for leadership change in the GOP.

 

[oreo]

Ever heard of a state called CALIFORNIA-- Running a 48 BILLION dollar deficit--and looking toward the Federal Government to bail them out.

In fact--it's so bad in California--we would have to pay Mexico to take it back--

California has a balanced budget amendment too. So thanks for proving my point about why the BBA doesn't work.

No--it's the politicians that liberals elect--that doesn't WORK--

 

[Modbert]

Well my state of Colorado takes our "balanced budget requirement" very seriously--because they balance our state government budget each and every year.

Perhaps you could explain this then?

State of Colorado Debt Clock

 

[KissMy]

AP: It's a deal

The agreement would slice at least $2.4 trillion from federal spending over a decade, a steep price for many Democrats, too little for many Republicans. The Treasury's authority to borrow would be extended beyond the 2012 elections, a key objective for Obama, though the president had to give up his insistence on raising taxes on wealthy Americans to reduce deficits.

WAY TO GO TEA PARTY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

[Cuyo]

Knowing that the GOP and tea party only controls 1 house out of the 3 legislative branches--it's really sureal. Balanced budget vote in the amendment.

America got screwed. Some politicians may have "won", but we sure as hell haven't. And that vote on a BBA is DOA.

Lookit- What is with your guys' campy obsession with BBA? It ain't gonna happen, mostly because it's an asinine idea. Even if it did, what do you suppose the government would do in a crisis? Taxes through the roof, cut off vital services, or promptly overturn the amendment.

 

[Neotrotsky]

Ever heard of a state called CALIFORNIA-- Running a 48 BILLION dollar deficit--and looking toward the Federal Government to bail them out.

In fact--it's so bad in California--we would have to pay Mexico to take it back--

California has a balanced budget amendment too. So thanks for proving my point about why the BBA doesn't work.

No--it's the politicians that liberals elect--that doesn't WORK--

ouch!

 

[oreo]

Well my state of Colorado takes our "balanced budget requirement" very seriously--because they balance our state government budget each and every year.

Perhaps you could explain this then?

State of Colorado Debt Clock

Our DEMOCRAT governor just cut 275 state workers jobs--and has cut government spending round the clock to balance this years budget. And it's balanced.

 

[Modbert]

No--it's the politicians that liberals elect--that doesn't WORK--

California isn't as Liberal as you would like to make it out to be.

 

[Modbert]

Our DEMOCRAT governor just cut 275 state workers jobs--and has cut government spending round the clock to balance this years budget. And it's balanced.

And you know it's balanced how? Like I pointed out previously, Perry balanced Texas's budget through accounting maneuvers and their debt has doubled in the last decade. If the BBA is this magical solution that is going to solve the debt problem, then why hasn't it worked for the states? Including the more Conservative ones.