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July 20, 2011

As For That Gang of Six Plan ...

Topics: Political News and commentaries

Forget about it ... unless you think massive tax increases and continued runaway spending is going to solve our nation's debt crisis and get us back on the road to prosperity. It allows the Democrats to not only get the job-killing tax increases they want but to also hit our nation with $2 trillion more in debt today in exchange for cutting the budget by $3.5 trillion in ten years, assuming Congress and Obama agree to all the cut recommendations (which even if agreed upon are likely never to happen) and excluding interest on the national debt!

After reading just about everything written in the last 24 hours about the Senate's "Gang of Six" plan, my take is that Emily Miller sums it up best by calling the gang "the Gang of Squish" and describing the plan as even worse than Obama's tax-and-spend bid. The plan fails to seriously tackle the debt crisis threatening to bankrupt our country in the near future and is more of a recipe for avoiding near-term pain to preserve the status quo.

Update: Great news: Gang of 6 plan won't be ready for August 2nd deadline
Update 2: Happy Hour: Gang of Six 'Promises Prove False'?

Related:
Smoke and mirrors with the federal deficit (Commentary: Washington swaps magic show for vaudeville)
Ryan Dissects the Gang of Six Plan
Gang of Six gambit revives spending shell game (Actual cuts only $1.2 Trillion- not $3.7 Trillion)

Posted by Richard at July 20, 2011 7:01 AM



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