Republicans May Compromise on Military Spending in Debt Talks
Diane Ellis, Ed. ·
Jun 27, 2011 at 9:59am
This afternoon President Obama will hold separate talks with Harry Reid and Mitch McConnell in an attempt to hash out a debt reduction plan palatable enough for Republicans. This in exchange for their votes on a debt ceiling increase by the August 2 deadline.
Last week, Republicans walked out of the Biden-led debt talks, insisting that tax increases were not a viable option. However, the Washington Post identifies one area of compromise that Republicans are likely to offer up in today's talks with Obama: cuts in military spending. As freshman Republican Rep. Robert Hurt of Virginia put it, "bureaucracy is bureaucracy, and there are ways to get at it, even in the Pentagon."
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May '10
Re: Republicans May Compromise on Military Spending in Debt Talks
My guess is they'll go after Tricare, particularly with regard to healthcare provided to dependents and retirees.
May '10
Re: Republicans May Compromise on Military Spending in Debt Talks
I'm dumbfounded (or maybe just dumb). How is approving further loans to ourselves a reasonable exchange for spending cuts? We're going to create further debt now in exchange for accumulating debt at a ever-so-slightly slower pace in the near future?
Oct '10
Re: Republicans May Compromise on Military Spending in Debt Talks
Aaron, well covering the 1.6 trillion deficit in one year is only possible with massive tax hikes (and new taxes, like a VAT). So it has to be gradual, over four or five years. This is what we did in the 90s, and it seemed to work then.
May '10
Re: Republicans May Compromise on Military Spending in Debt Talks
Joseph, raising the debt ceiling is not the same as a tax hike. Raising the debt ceiling means approving more borrowing... most likely from ourselves, which means printing more money. That increases our debt, does it not? Taxes do not increase our government's obligations to lenders, but merely remove investment capital from the private sector.
I don't understand how the benefit of decreasing our deficit by reducing future spending is not offset by increasing our debt directly through borrowing / printing more money.
Creating new debts to pay off old debts does us no good. One debt is as bad as another.
Re: Republicans May Compromise on Military Spending in Debt Talks
I share your confusion. I think it's mostly fanfare and theatrics. Congress isn't going to cut the debt and deficits unless they pass something akin to a balanced budget amendment. Any spending cuts that Democrats agree to are temporary at best.
Sep '10
Re: Republicans May Compromise on Military Spending in Debt Talks
Diane Ellis, Ed.
Congress isn't going to cut the debt and deficits unless they pass something akin to a balanced budget amendment. Any spending cuts that Democrats agree to are temporary at best. · Jun 27 at 2:20pm
I agree that cuts in discretionary spending are ephemeral, but if the Republicans come out of this deal with Democratic support for substantial cuts in entitlements, that is an earth-shaking development. It would completely undermine their most effective rhetorical weapon for ever-growing government. Even without any iron-clad guarantees, I think this is the prize worth fighting for.
Oct '10
Re: Republicans May Compromise on Military Spending in Debt Talks
Bruce in Marin
Diane Ellis, Ed.
Congress isn't going to cut the debt and deficits unless they pass something akin to a balanced budget amendment. Any spending cuts that Democrats agree to are temporary at best. · Jun 27 at 2:20pm
I agree that cuts in discretionary spending are ephemeral, but if the Republicans come out of this deal with Democratic support for substantial cuts in entitlements, that is an earth-shaking development. It would completely undermine their most effective rhetorical weapon for ever-growing government. Even without any iron-clad guarantees, I think this is the prize worth fighting for. · Jun 27 at 5:26pm
I completely agree. As a young man in his mid-20s, I want Republicans to push right up to the bring, maybe a little over. I don't relish spending my prime years paying sky-high taxes in a stagnating/imploding-in-slow-motion economy.