Bowles of U.S. Debt Commission Putting Focus on Spending Cuts

[Joanne98]

Source: Bloomberg

July 29 (Bloomberg) -- As much as three-quarters of the savings President Barack Obama’s national debt commission has been asked to propose ought to come from cuts to government spending rather than tax increases, panel co-chairman Erskine Bowles said.

Bowles, a White House chief of staff under former President Bill Clinton, said yesterday that trims to expenditures could account for two-thirds to three-quarters of the panel’s package of proposals for reducing the federal budget deficit.

“You’ll find some people who think that’s crazy and some think that’s good or not enough -- people are on all sides of the issue,” Bowles said after the panel’s monthly public meeting, its last before Congress leaves for an August recess.

He said the panel won’t begin to make “real decisions” on what to recommend until September. “Nothing’s decided until everything is decided,” he said.


Read more: http://noir.bloomberg.com/apps/news?pid=20601070&sid=az65lfrIk0I0

[xchrom]

1. Neo-liberalism is the up stream source for what

Is going to happen.

It's going to impact the poor
Disproportionatly.

[fasttense]

2. Oh that deadly Cat Food Commission really loves those uber wealthy

They are never going to propose an increase in taxes for those Robber Barons, instead they will force every middle class and poor grandparent to eat cat food.

Or they could make it more like 1929 where the leading cause of death among the elderly was starvation and hypothermia.

The new Cat Food Commission plan: Work until you die.

[grahamhgreen]

3. It's not a commission to decide what to cut

It's a comission to decide HOW to sell the destruction of our safety net to the American people, while bolstering tax cuts for the ultra rich and war profiteering.

[MannyGoldstein]

4. Under Clinton, Bowles made a deal with Gingrich to cut Social Security

But fortunately Congress wouldn't approve of it:

http://politics.usnews.com/news/politics/articles/2008/05/29/the-pact-between-bill-clinton-and-newt-gingrich.html">The Pact Between Bill Clinton and Newt Gingrich

The other co-chair, Alan Simpson, has also tried to slash Social Security.

Obama has rigged this thing to cut Social Security. It's awful.

[bbgrunt]

5. the gov't should quit spending on tax cuts for the rich--

and military spending.

[AlbertCat]

7. and military spending.

Since the Pentagon is just a huge welfare program for useless government contracts. They certainly cannot win any wars.

[SILVER__FOX52]

6. This Debt commission is one, gigantic....

Con job. You notice how quiet our President is about this commission. If this President uses as
" cover ", the commission's adverse recommendations to gut the social security and/or medicaid programs, I'm finished with him and the Democratic party. That's the end of it. He has got to know this. I don't think the Country will stand for it, so, I'm hoping that the real purpose of the commission is to blunt, the Republican, Bullshit.

[OwnedByFerrets]

8. 33 BILLION....that is what was appropriated this week for the war machine

But, lets cut spending on those who need it. FUCK YOU ALL

[glitch]

10. repeating with emphasis

FUCK YOU ALL

[OwnedByFerrets]

11. LOL

[ezmerelda39]

9. There will not be

much left of America after all of the homes are empty, 
except, of course, the Mc Mansions, the jobs are gone, except,
of course, for  the Wall Street suits and the military,  the
tax base is gone, Social Security and Medicare are gone. The
top one percent will be waging war on each other for any
scraps that are left.  American democracy was a great
experiment.  Too bad it failed as we the people could have
saved it.

[lib2DaBone]

12. Life in America.. Every day looking more like Mel Gibson in the Thunder Dome...

The religious nut jobs and the Tea Baggers will not quit until every last ounce of decency has been extracted.