Monday, July 25, 2011

Eric Cantor Admits That $1 Trillion In War Savings Counted In Both The Ryan Plan And ‘Cut, Cap & Balance’ Plan




From ThinkProgress: Today, Speaker John Boehner rejected Harry Reid’s plan, claiming that it was full of gimmicks. Boehner’s principle criticism was that it counted $1 trillion is savings from winding down the wars in Afghanistan and Iraq.

In an interview on CNBC, House Majority Leader Eric Cantor admitted to Larry Kudlow that both the Ryan Plan and the “Cut, Cap, and Balance” Plan — which were both supported by nearly the entire GOP caucus — also counted savings from winding down the wars:
Cantor: Speaker Boehner came out months ago and said we are not going to increase the debt ceiling unless we have comensurate or even greater cuts in spending. Now Sen. Reid’s plan doesn’t do that. What Sen. Reid’s plan says is we’re going to raise the debt ceiling $2.4 trillion and we are also going to cut spending but what he does is counts over a trillion dollars in spending that is assumed to decrease and go away anyway which is the spending associated with the wars in Iraq and Afghanistan.

Kudlow: Yes, but isn’t that in the Paul Ryan baseline also, which is the baseline for Cut, Cap and Balance.

Cantor: But, but, but… absolutely it is. But it's not anything additional...
Please kids. You want to CUT SPENDING. The Reid plan CUTS SPENDING.

The Reid plan gives Repubs everything they want and now they are avoiding it because the real issue they want is to be able to revisit this in the middle of next year's elections.

For months now we've heard that what the global markets need to see is stability and a plan they can count on. The Reid plan does that. The Boehner plan kicks the can down the road about 8-9 months. This does not show stability or a handle on our spending.

This is more posturing by the Repubs who just want to do everything they can, even if it means putting the full faith and credit of the United States at risk, to bring President Obama down.

If it walks like a duck and quacks like a duck...
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