Starving the Beast: Cut, Cap and Balance

Starving the Beast: Cut, Cap and Balance


>>Narrator: This legislative summary is provided to you by Main Street Insider This week we examine H.R. 2560, the Cut, Cap and Balance Act of 2011 Conservative Republicans have long sought to downsize government, but because gutting popular social programs without A compelling reason would be political suicide, conservatives have developed a strategy called “Starving the beast”>>O’Donnell: 30 years after Reagan’s inauguration the starving of the beast is finally working the way Reagan and the Republican authors of that idea had hoped Our deficits and debt are so enormous now that everyone believes we must cut spending>>Narrator: The Cut, Cap and Balance Act would set in place a framework to permanently shrink government. Specifically, it would: Cut 2012 non-security discretionary spending by $76 billion, mandatory spending by $35 billion, and allow defense spending to grow at a slower pace; Cap federal spending as a percentage of GDP at 21.7% for 2013, declining to 19.9% by 2017 and remaining constant thereafter; And balance budgets in the future by requiring a balanced budget amendment That caps spending and requires a 2/3 vote for any tax increase to be passed before raising the debt ceiling Supporters believe this is the only foolproof way to rein in federal spending>>Cantor: We want to be able to go home to the people that elected us And show them that we’re not going to allow this kind of spending to continue>>Narrator: Opponents worry that this proposal would deeply and irrevocably damage the safety net>>Schumer: It cuts deeper than the Ryan Budget Medicare as we know it And then it makes it impossible to close tax loopholes for millionaires>>Narrator: The House Rules Committee has scheduled a meeting on H.R. 2560 for today and it will likely reach the floor for a vote tomorrow Tune in next Monday for a summary of H.R. 308, a proposal to ban extended magazine clips, at www.MainStreetInsider.org

8 Replies to “Starving the Beast: Cut, Cap and Balance

  1. Wise-up all you hopeful Fools!
    NOTHING that might actually help save this nation ftom ruin will get past Obama & his gang of Commies.
    He fully intends to ride America into the ground.
    Know that & know it full well.
    Really

  2. I dont think this bill will "starve the beast" as much as when the currency collapses, because of the last 30 years of bad policy and social handouts to every tom, dick and harry on the planet. Seems they arent going to be satisfied till every citizen in the US is sold into a lifetime of slavery to pay off these idiotic policy's. Oh wait its already happend, They are just selling future genrations into it. Get ready for the ride it isnt over yet!!

  3. @ladylordess Gotta dig in a different place for your facts Lady. "The (actual) Beast" is Military spending, tax expenditures that ONLY the rich can take advantage of, which includes tax loopholes that costs this country billions, unrealized capital gains that (AGAIN) only the rich are able to take advantage of. Billions going to RICH city slickers in farm subsidies. Did you catch that? Rich people in the city receive OUR tax dollars NOT TO FARM on their farm land! The Beast isn't grandma!!!

  4. @biggerturtle You're a sick, disgusting, selfish, useless lower form of dog-waste!!! You REEK of Republican!!!!

  5. The Debt Ceiling under President Reagan was raised eighteen times to a total of $1.85 trillion (See Table 7.3). This is less than the $3 trillion-plus already raised under President Obama! Raising the Ceiling 18 times during the eight Reagan years meant a Ceiling battle every 5.3 months (on average), with an average rise of only $102 billion per increase. So… does Obama really want to get the Reagan Treatment?

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