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February 24, 2011 3:45 PM
ABC News' Jonathan Karl reports:
Senate Democrats are preparing a new round budget cuts to counter the cuts passed by House Republicans last week, according to Democratic sources.� The new cuts will be unveiled as soon as tomorrow.
Currently Democrats are proposing to freeze spending at 2010 levels; the new Democratic proposal will be significantly lower than that, although will fall short of the $61 billion in cuts proposed by Republicans.
The cuts will include $8.5 billion in funding for earmarks left over from 2010.� Additional cuts will come from the $24.7 billion in reductions that were outlined in President Obama?s budget for 2012.� Democratic budget experts are trying to figure out how many of President Obama?s proposed cuts for next year can go into effect this year.
February 24, 2011 in Jonathan Karl, The Note | Permalink | Share | User Comments (18)
Newsflash. This is still not compromise if they are only looking to cut where the President wants to cut. 24 Billion is NOT ACCEPTABLE. Spending at 2010 levels is NOT ACCEPTABLE. The debt has grown by 3.5 trillion since Obamma took office. STOP THE SPENDING!
Posted by: wheresmymoney | Feb 24, 2011 4:37:20 PM
LOL...LOL...yeah..."wheresmymoney"....
let's just shut down the whole "friggin country". LOL...LOL That'l show us all ...won't it? LOL...LOL.."You betcha'"
Posted by: CND FOX | Feb 24, 2011 5:35:09 PM
No.... the debt has been growing since Buscheney took office and then started the GD illegal wars in Iraq. 2.3 Trillion that went unaccounted for. Just ask Dumsfeld
Posted by: jeff | Feb 24, 2011 5:35:29 PM
Progressives don't care if the country goes under. Why else would they keep saying don't cut this; don't cut that. We need to spend, spend, spend, on (pick your cup of tea).
Posted by: deanbob | Feb 24, 2011 5:40:18 PM
wheresmymoney | Feb 24, 2011 4:37:20 PM
posted: "24 Billion is NOT ACCEPTABLE. Spending at 2010 levels is NOT ACCEPTABLE. The debt has grown by 3.5 trillion since Obamma took office. STOP THE SPENDING!"
According to the CBO, the federal budget deficit of $1.3 Trillion in 2010 was lower than that in 2009, falling from 10% of the nation?s output to 8.9% in 2010. The decline confirms that stimulus had some positive impact.
It also confirms the weak nature of the Obama stimulus; it did not inject sufficient investment in jobs.
I suspect most everyone ? Left and Right ? agrees we need to reduce the deficit. But cutting budgets and severe austerity won?t build jobs. Cut to the core, our public finances, state budgets, school budgets, and city budgets won?t recover until America?s jobs recover.
To tackle unemployment, the US will have to do what was done in the 1930s: restrain the finance sector, and subordinate it to the role of Servant to rebuilding our national economy. Giving them tax cuts and deregulation did not build jobs during 8 years under GW Bush and it?s not going to work now either.
If Americans all need to share in compromise, that includes ALL levels of taxpayers, including the highest earners and corporations.
Congress should work with the finance sector to fund the necessary job creation and infrastructure to restore economic, energy and food security to the people of the United States while rebuilding jobs. We can't cut forever - half of our annual deficit is due to reduced income from unemployed people who are not contributing taxes, along with the extremely wealthy with continued tax advantages.
Posted by: green.goddess | Feb 24, 2011 5:45:41 PM
we all need to share and compromise...48% of americans pay zero income tax. how do you share and compromise with that? so raise taxes on everyone else? is that compromise? why is it that people cant understand we are broke and when your broke you cant spend because you dont have anything? perhaps the teachers of wisconsin should take a refresher in math.perhaps when you work for 8 months and get paid for twelve its tough to understand.
Posted by: catman | Feb 24, 2011 6:02:36 PM
"Green Goddess"....I applaud your knowledge but quite honestly it does no good for you, SeaRambler, Parma Hgts Gary, BK KInightrider or me to try and reason with "black and white" thinkers who shallowly allow themselves to be influenced by right wing "soundbites" from the wealthiest of the GOP and conservative supporters (Faux Noise, Limbaugh, Beck Palin, Bachmann etc). They are incapable of seeing what is being done to them. They seem to have no comprehension as to how and why their own socioeconmic status has declined and now...have decided to "bludgeon" their own middle class peers. The good thing is that I truly believe that this "negative feeding frenzy ideology" that conservatives, the tea party and the GOP is engqaged in will destroy their own cause. And unfortunately, put our nation in "decline" mode for the next several decades. They do not "read, research, or update themselves on anything to do with education or technology. They just "emotionally react" to everything their "pundits" say.
Posted by: CND FOX | Feb 24, 2011 6:06:38 PM
Green Goddess: You are so right. God bless you! It's refreshing to hear something from some one who has some sense rather than the continued ranting of some of these right wing wing nuts. Keep up the good work!!!
Posted by: martin | Feb 24, 2011 6:17:51 PM
>green.goddess
I completely agree with you on all points.
The extension of the tax cut must be considered in the discussion about reducing the public debt.
As you said also, "we can't cut forever", and all those cuts will have an impact on the unemployement rate, not only for federal employees but for contractors, subcontractors, and beyond. Few days ago Walmart reported a drop in the US sales, due to lower demand from low-income shoppers.
On the other hand, the bonus payouts by financial institutions for 2010 is $20.8 billion. Alone, that represents 1/3 of the cut proposed by the GOP or the Dems.
Posted by: picooz | Feb 24, 2011 6:27:00 PM
CND FOX | Feb 24, 2011 6:06:38 PM posted: ?I applaud your knowledge but quite honestly it does no good.?
I know. I can re-post a hundred times that HALF our annual deficit is due to loss of revenue, but for some, it never gets past their idea of Austerity as the only solution. But I am not talking to them, I am taking to whoever else may be reading.
For example, exposing readers to Andy Grove?s ideas. (Andy Grove? Helped start up INTEL - credited with having transformed the company from a manufacturer of memory chips into one of the world's dominant producers of microprocessors.)
Andy suggests America MUST rebuild our industrial base with financial incentives: Levy an extra tax on the product of off-shored labor. Then he proposes a broad public-private partnership to invest in the development of manufacturing. Use that money as a public bank and make the funds available for American businesses. This concept makes conservatives go cross-eyed, but where are the Republican alternatives?
Grove promotes a way to make American opportunities competitive with low wage, Asian government supported businesses overseas. A way that funds a new industrial base on which our Nation?s security and strength depends. A way to create those capital-intensive jobs ?that have labor productivity levels consistent with advanced country incomes?. In other words, a way to rebuild middle class Family Wage jobs.
Posted by: green.goddess | Feb 24, 2011 6:34:12 PM
What do Dems not understand about not freezing at the 2010 rates. They spend us into no return in two and more years. STOP spending and start real cuting or you loose the Senate in 2012 and the Presidency.
Posted by: Freedom | Feb 24, 2011 6:55:33 PM
last time i checked nancy pelosi is not a senator. why is her mug on display?i thought the american people fired her.
Posted by: catman | Feb 24, 2011 7:56:47 PM
The Democrat's resolve has started to crack! Next they throw the unions under the bus!!
Posted by: Voice_Reason | Feb 24, 2011 8:07:39 PM
republicans want $61 billion. democrats offered $32 billion. split the baby and move on.
Posted by: grumpopolis | Feb 24, 2011 8:20:51 PM
"catman"...LOL...LOL...Thank you for proving what green goddess and I just said about "right wingers" who are not "up to date". LOL...LOL Better go do some "homework' on the Nancy Pelosi scenario. NO...I am not going to "give" you the answer. LOL...LOL ASnd Freedom...LOl...what are you going to do when the "right" blows itself up with all their negative antics? Oh ... I know I am sure it will be all about a "vast, left wing conspiracy" or the "lame, liberal MSM". LOL...LOL Sorry, Green Goddess...I just cannot be as 'civil" about this as you are.
Posted by: CND FOX | Feb 24, 2011 8:35:20 PM
The front page title on the Politics part of the website says, "Shutdown Showdwon: Democrats Blink?" Showdwon? That's what it says. "Showdwon". I remember when I started college, my English Prof didn't count off for spelling or punctuation. Oddly though, my Texas History professor did and as such, under him we were taught more about English than under the lady that taught "English". (BTW, It seemed it was destined never to be an "English" class, but rather a social engineering class. Typical though, from what I've heard from others.
Posted by: TexBork | Feb 24, 2011 9:03:33 PM
I agree with Grumpopolis, pass the dang thing and get to work. I get so sick of this grandstanding. It's nothing but politics. They need to do some real work up on the hill.
Posted by: secondlook | Feb 24, 2011 9:05:42 PM
"TexBork"...only those who are black and white thinkers and who do not have "command of the topics" make a big deal about a typo or misspelling mistake. We have all done it. It is the "substance and the depth of the content" that counts. At least that is what most educated and rational people think. LOL...LOL It is what I have seen "right wingers" do countless times. Distort or distact from the content or meaning of what someone of substance says, with a meaningless "negative" about something that really means nothing. All to "win" a point in the "lesser intelligent" minds who may be "listening' OR blogging.. "Gotcha"...didn't I? LOL...LOL
Posted by: CND FOX | Feb 24, 2011 9:59:56 PM
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