Talk Show America 7/26/2011





Dem Congressman Admits Debt Limit Debate Is ‘Charade’,Debt Ceiling Myths,The Real Reason For A U.S. Debt Downgrade, It's The Spending Stupid!

Download Talk Show America 7/26/2011

'DeMint Opposes Boehner-Reid Debt Plan'

I oppose the Boehner-Reid plan because it won't balance the budget and stop the debt that is destroying our country.

The Boehner-Reid plan:

•Provides two increases in the debt limit -- $900 billion and $1.6 trillion -- totaling $2.5 trillion. It gives the President an immediate $900 billion increase given that Congress does not vote to disapprove it. It gives the President another $1.6 trillion increase next year if a bill written by a new Super Committee passes both houses and becomes law.

•Reduces spending by only $1.2 trillion over the next ten years. This amount won't even come close to balancing the budget, as the debt is expected to grow by as much as $10 trillion over the next decade. The plan also reduces spending by only $6 billion in 2012. Considering that our government currently spends $10 billion a day, $6 billion is far too little to cut over the first year of the plan.

•Calls for a vote on the Balanced Budget Amendment but does not require its passage. Without passage of a strong Balanced Budget Amendment, Congress will never break its addiction to spending.

•Makes it virtually impossible to stop the debt limit from going up. The debt ceiling increases can only be stopped if Congress passes a resolution of disapproval and then votes to override the President's veto with two-thirds support in the House and Senate.

•Creates a new, 12-member Super Committee to write another "grand bargain" to reduce the deficit by at least $1.6 trillion. It does not, however, prohibit the Super Committee from writing a bill to raise taxes and destroy jobs. The bill can then be fast-tracked through the House and Senate with no amendments.

After reviewing the details of Boehner-Reid plan, I cannot support it.

•It won't balance the budget and stop the debt. Even if the cuts called for in the plan were real, the debt will still increase by $7 trillion over the next ten years.

•It won't protect our AAA bond rating. According to financial reports, this plan will not reduce long-term spending by enough to prevent a downgrade. If we lose our AAA rating, it will create higher interest rates and cause our debt to grow even faster.

•It will likely result in higher taxes that will destroy even more jobs. The unemployment rate is over 9 percent. We cannot afford to lose more jobs when so many Americans are struggling to find work.


There are some in my party who think I should ignore the flaws of the Boehner-Reid plan, bite my tongue, and support my party's leaders. If I thought this were a political game, that might make sense. But the future of our country is at stake, I don't believe this plan will save it, and I have a moral obligation to say so.

The Cut-Cap-Balance Act would balance the budget, stop the debt, and protect our AAA bond rating. This legislation passed the House with bipartisan support but was blocked by Democrats in the Senate.

The votes in the Senate for Cut-Cap-Balance are there if Republicans stand firm. 23 Democrats in the Senate have expressed support for the Balanced Budget Amendment at some point in their careers. They're blocking it now because they believe Republicans will blink and agree to something much less.

And that's exactly what will happen if the Boehner-Reid plan is passed. It gives the big spenders in Washington everything they wanted -- an increase in the debt limit, phony spending cuts, and a mechanism to pass tax increases.

Respectfully,
Jim DeMint
United States Senator
Chairman, Senate Conservatives Fund

S&P: Rating of U.S. Debt Not Falling Because The Of Debt Ceiling, Its The Spending

When Standard and Poor’s moved up their timeframe for a downgrade on U.S. sovereign debt from three to five years to just 90 days, Dave Beers, Director of the Sovereign Debt Division explained that the rating of U.S. debt is not on the verge of falling because the debt ceiling debate in Congress hasn't been resolved:

The debt ceiling is not the central preoccupation that we have. We put the United States on credit watch because we’re growing less certain that this political debate can be resolved. This was not merely about the debt ceiling.

It’s the long-term dynamics of reining in government spending that is the sticking point. Raising the debt ceiling (or not) is almost beside the point. It’s the spending, and it always has been. Added the report from S&P, “If an agreement is reached to raise the debt ceiling but nothing meaningful is done in terms of deficit reduction, the US would like have its rating cut to the AA category.”

Dem Congressman: Debt Limit Debate is a ‘’Political Charade"

Here’s some straight talk from a Democratic Congressman that pops the Washington drama balloon about the Debt Limit – Pete Stark (D-CA) told an audience Saturday morning that the Debt Limit debate is a ‘’political charade’.


“You’ve heard a lot about the Debt Limit. And I guess that’s – I don’t know how many of you are worried about it or concerned about it. The fact is I think it’s a political charade.

“I’m afraid that the Democrats have done that in the past, threatened to shut down the government. I don’t think there’s a chance that it will happen. I think the last time somebody did, they lost enough seats in the House of Representatives to convince them it was a dumbest thing they ever did. [It] doesn’t get us anywhere, it doesn’t help anybody, and to extend the Debt Limit is nothing more – than people have described it – than that the government’s credit card doesn’t run out of resources.

“And we all know we have more debt than we should be carrying and there’s a fight going on: Should we raise your taxes to lower that debt? Should we quit government spending?"


Voters Give GOP 10-Point Edge Over Dems on Economy

The latest Rasmussen Reports national telephone survey of Likely Voters shows that 45% trust Republicans more when it comes to handling economic issues, while 35% put more trust in Democrats. Nineteen percent (19%) are undecided.

The gap was the closest in years in May when the GOP held just a 46% to 42% lead on the economy, which voters have consistently regarded as the most important of 10 issues regularly tracked by Rasmussen Reports.

Voters now trust Republicans more than Democrats on nine of those 10 issues. In May, Republicans led on just six issues after being trusted more on all 10 in early January. Two years ago Democrats were trusted more than Republicans on most issues.

Health care, which voters rank second behind the economy in terms of importance, is an issue the GOP holds a tight 46% to 43% advantage on. Before President Obama was elected, Democrats had a huge advantage on this issue. During Election 2010, the advantage switched to the GOP.

Taxes are a big part of the debt ceiling debate, and voters trust Republicans more than Democrats by a 46% to 40% margin on that issue.

The one issue Democrats do hold an advantage in trust on is education, 42% to 38%. Nineteen percent (19%) aren’t sure which party they trust more, however.

The parties are nearly tied on the issue of Social Security, with Republicans holding a statistically insignificant 42% to 40% lead. In May, Democrats barely edged the GOP on this issue.

Republicans hold a slight 38% to 35% edge in the area of government ethics and corruption, a reversal from the modest lead Democrats held in May. But 27% of voters don’t know who to trust more on this issue.

On immigration, Republicans hold a sizable 47% to 33% advantage, with 21% of voters are undecided.

Poll: Most Don’t Trust Obama on Economy

More than half of all voters do not trust President Barack Obama to lead America back to economic prosperity, according to an exclusive Newsmax poll.

And the young who turned out in such great numbers for Obama in 2008 have even less confidence in him than those in any other age groups, shows the poll conducted by IBOPE Zogby. Only one in six of those under 24 say they trust Obama.

That could spell disaster for the president next year when he faces voters again, IBOPE Zogby chairman John Zogby told Newsmax.

“I don’t see the younger group flipping and voting Republican,” he said. “But I can see them not voting in great numbers. The president cannot win reelection unless he can turn out the support of younger voters.

“They had very high expectations in 2008, but the economy has squeezed them and a significant number have found they aren’t able to get a real start.”