Friday, December 3, 2010

U.S. Deficit Commission Report - #2442 - VIDEO: Rep. Ryan: Have to Deal With Health Care to Preempt Debt Crisis - Real Clear Politics (2) Deficit Comm. What Obamacare Needs Is.....Death Panels-Hot Air (3) Game Over: Five Members of Deficit Commission Will Vote No - Hot Air (4) Bowles-Simpson is a Massive Tax Hike - Redstate


Rep. Paul Ryan (R-WI) on The Charlie Rose Show. Rose: So when you look at what the commission said so far -- what those two co-chairs said -- what do you like and don't like? Ryan: What I like is the fact that you have the president's people that he put in charge of this -- Erskine Bowles, who's a great, very conscientious Democrat -- saying that for America to be competitive in the 21st century, we need lower tax rates. We need a lower corporate rate, we need a territorial tax system, which is very important for our competitiveness, and lower tax rates on individuals. So, they're basically talking about broadening the tax base, lowering the rates. That's good. They're also going after spending. Now, there's some things I would do and some things I wouldn't do, but they're going after spending. What they didn't do in this plan, which I think was a mistake, is they didn't go after fixing health care. They pretty much skirted around the edge, which -- Read more.......  Article and video clip contributed by Steve Peters.


(2) Deficit Commission: What Obamacare needs is........ Death Panels - The good news for Barack Obama: the Associated Press reports today that Obama’s deficit commission wants to keep most of ObamaCare in place. The bad news: they pronounce it unsustainable — unless it includes hard caps on coverage and decisions made to stop care. Doesn’t this sound a little familiar?  For the first time, the government would set — and enforce — an overall budget for Medicare, Medicaid and other federal programs that cover more than 100 million people, from Alzheimer’s patients in nursing homes to premature babies in hospital intensive care.  Palin attracted wide attention by denouncing nonexistent “death panels” in Obama’s overhaul, but a fixed budget as the commissioners propose could lead to denial of payment for medical care in some circumstances.  Read more........


(3) Game Over: Five Members of Deficit Commission Will Vote No - Hot Air - They need 14 of the 18 members to vote yes tomorrow to send the Bowles/Simpson plan to Congress. Ain’t happening. Guess who provided unlucky no vote number five.  ABC News has learned Andrew Stern will vote no on the deficit commission’s plan to reduce the national deficit by nearly $4 trillion. Mr. Stern, the former president of the SEIU, has informed co-chairmen Erskine Bowles and Alan Simpson that he will be the fifth member voting no, ending the commission’s hopes of officially passing the plan to Congress. The commission needed votes from 14 of the 18 members in order to pass the plan to Congress.  Mr. Stern joins Sen. Max Baucus and Reps. Dave Camp, Paul Ryan and Jan Schakowsky in voting against the plan. He is also the only non-elected official to vote against the plan.  Read more........


(4) Bowles-Simpson is a Massive Tax Hike - Redstate - Yesterday, Erskine Bowles and Alan Simpson, the co-chairs of President Obama’s deficit commission, released a revised proposal that will be voted on Friday.  Bowles and Simpson have undoubtedly worked hard at a thankless chore these last few months. They have resisted the temptation to demonize all spending cuts and focus exclusively on raising taxes. They have put forward many reasonable individual reforms that warrant consideration. But overall the Bowles-Simpson package is what this commission was designed to produce–a massive tax hike that will keep the federal government at a size and scope that is historically high for this country. Consider the following analysis from Steve McMillin of Hamilton Place Strategies.  For revenues, an average federal tax burden of 21% of GDP would be three percentage points higher than the historical average of about 18%.  Read more........

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