I have a growing sense that the compromise plan rolled out by the 'Gang of Six' in the U.S. Senate with regard to debt reduction will no absolutely nowhere. Not only have House Republicans made it clear they will in no way approve the plan due to its tax increases, but a key GOP Senator stated that he has deep concerns about the plan for the very same reason.
Senator Charles Grassley stated in a radio interview this week that he has serious misgivings about the Gang of Six plan, and that the country does not face a taxation or revenue problem but a SPENDING problem! Precisely!
Because Democrats still control the Senate, they can approve the compromise plan that will raise taxes on just about everyone who pays taxes, regardless of the common lie used by Dems that it is only 'for the super-rich.'
But the House is another matter. The Tea Party sent most freshmen Republicans to Washington to do some serious cutting of government spending. And so far, they are holding firm. And they are committed not to raise taxes on anyone.
Another major factor to consider--by simply repealing or de-funding ObamaCare, Congress could cut 1.5 trillion dollars from the debt immediately. And this information comes from the Congressional Budget Office itself.
Perhaps it would be a good thing if the federal government shut down for a while--except for essential services such as the military and Social Security, etc. Government employees, and Congress itself, could be told that they will not be paid a dime during the shutdown. True, that in and of itself would thrust into action the lazy minions of the Left who wish to do nothing about spending. But during such a shutdown, think of the multi-billions it would save the taxpayers--money that would decrease the debt.
And, what if they stayed out long enough to wipe out the 12.4 trillion in debt entirely? Problem solved!
Americans need a break from the weasels who occupy Congress anyway, especially the Senate. If they are not in session, no damage can be done. And the debt would disappear rather quickly, relatively speaking.
Oh well, back to reality. The Gang of Six will not make adequate cuts to do any good. And raising taxes will sink an already shaky economy further into the abyss. Their 'plan' is dead on arrival.