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Speaker Boehner Proposes Eliminating Social Security or Medicare & Medicaid
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05-09-2011, 03:02 PM
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Speaker Boehner Proposes Eliminating Social Security or Medicare & Medicaid
“Without significant spending cuts and reforms to reduce our debt, there will be no debt limit increase,” Boehner plans to tell the Economic Club of New York here this evening, according to remarks obtained by POLITICO. “And the cuts should be greater than the accompanying increase in debt authority the president is given. We should be talking about cuts of trillions, not just billions.”
Under Boehner’s vision, for example, Republicans would have to find more than $2 trillion in cuts if they wanted to raise the debt ceiling by that amount through 2012 — which is in line with Treasury’s estimates on the debt limit. But Republicans could also go for a more incremental increase in the debt ceiling, coupling that with a smaller offsetting cut in spending. Boehner’s preference is for immediate cuts, not promises to pare back spending in the future. Read more: http://www.politico.com/news/stories/051...z1LtH9sB3G ------------------- While the thread title is slightly misleading - as is typically the case, he fails to say exactly what he would cut. However, this chart should make it abundantly clear what's in the crosshairs: http://upload.wikimedia.org/wikipedia/en...Y_2007.png Put simply, to achieve $2 trillion in cuts, Boehner would have to eliminate three of the following items: (1) the entire discretionary budget, (2) the entire defense budget, (3) Social Security, and/or (4) Medicare & Medicaid. To even cut $1 trillion, he would need to have the equivalent of a 34% across-the-board cut to all of those four items, or entirely eliminate one of them and part of another. For perspective, even if you spread out Boehner's call for cutting trillions over a 10 year period, that's still cutting an additional $63 billion per year more than what was proposed in Ryan's abomination of a budget proposal. It's time to call them out on their detachment from reality, folks. |
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