dagblog - Comments for "Gang of Six Plan-Hits Hard on Middle Class and Poor, Easy on Rich"

Thanks NCD. My stomach churns

Watt Childress — Fri, 22 Jul 2011 04:58:17 +0000

In reply to Gang of Six Plan-Hits Hard on Middle Class and Poor, Easy on Rich

Thanks NCD. My stomach churns when I think about the debt limit deals being cultivated by the Senate and White House.

I was asked by a commenter over at FDL how I felt about the "Cut, Cap, and Balance" bill passed in the House. My impulse, from the beginning, was to see that proposal as worse than anything under consideration in in the Senate/White House. Yet when I read the bill, I'm not sure sure. Looks to me like it specifically exempts Social Security and Medicare from required cuts to the budget. And if I read it right, it does not include an equivalent exemption for war spending.

I'm sharing it here, in hopes you and/or other dagbloggers will help me vet the thing.

http://www.gpo.gov/fdsys/pkg/BILLS-112hr2560eh/pdf/BILLS-112hr2560eh.pdf

My feeling is that if we fail

Donal — Thu, 21 Jul 2011 12:53:45 +0000

In reply to I have a serious question for

My feeling is that if we fail to raise the debt ceiling, measures will be taken to extend the date. If we adopt the Gang of Six plan, the rich win again.

I'm not surprised that it

Verified Atheist — Thu, 21 Jul 2011 09:27:56 +0000

In reply to completely o/t, but I've been

I'm not surprised that it exists, given the navigation abilities of animals as simple as monarch butterflies, but it's still pretty neat that we (probably) have discovered such a gene. Thanks for bringing it to my attention!

completely o/t, but I've been

jollyroger — Thu, 21 Jul 2011 05:16:46 +0000

In reply to Actually, I think jr was

completely o/t, but I've been laying in wait for Verified A ever since I saw this article about magnetic lines as visual cues for humans...

We have an ongoing issue anent the magnet thingee

I have a serious question for

kyle flynn — Thu, 21 Jul 2011 05:16:17 +0000

In reply to Gang of Six Plan-Hits Hard on Middle Class and Poor, Easy on Rich

I have a serious question for anyone who wants to answer. I just finished reading Bernie Sanders' piece over at Huffpo. His assessment of the Gang of Six plan is harsh, too. My question: Would it be worse if the Gang of Six plan were adopted or if the US fails to raise the debt ceiling? As a follow up question, what does August 3rd and beyond look like to the average American? Paint us a picture.

We slack and they stack,

NCD — Thu, 21 Jul 2011 02:11:01 +0000

In reply to Actually, I think jr was

We slack and they stack, makes sense!

Actually, I think jr was

Verified Atheist — Thu, 21 Jul 2011 01:09:45 +0000

In reply to It's Amazon's typo, check the

Actually, I think jr was referring to stackers vs. slackers and might not have noticed Owen's ship.

It's Amazon's typo, check the

NCD — Wed, 20 Jul 2011 23:57:24 +0000

In reply to I fear you have been

It's Amazon's typo, check the link, it's an appropriate change to the book title by some unknown Amazon employee. The well known Wall Street author wrote the book in praise of Bush economic policy, in 2004.

I fear you have been

jollyroger — Wed, 20 Jul 2011 23:32:51 +0000

In reply to The slackers are members of

I fear you have been victimized by a typo.

The "owners" (aka ruling class, aka "Kapital") of whom you speak are frequently to be observed piling up their loot, murmuring under their breath the incantation first enunciated by that profound societal observer Damon Wayans: "Mo' money, mo' money".

Thus "stackers".

Dean Baker at CEPR: "The

NCD — Wed, 20 Jul 2011 21:36:04 +0000

In reply to WHAT?

Dean Baker at CEPR:

"The budget plan produced by the Senate’s “Gang of Six” offers the
promise of huge tax breaks for some of the wealthiest people in the
country, while lowering Social Security benefits for retirees and the
disabled. Despite claiming that they will "reform" Social Security on a
"separate track, isolated from deficit reduction," the plan includes
cuts to Social Security that would be felt in less than six months, as
the plan calls for a new inflation formula that will reduce benefits by
0.3 percentage points a year compared with currently scheduled benefits.
The plan also calls for a process that is likely to reduce benefits
further for future retirees.......It is striking that the Gang of Six chose to respond to the crisis created by the collapse of the housing bubble by developing a plan that will give even more money to top Wall Street executives and traders."