Pissing and Moaning Over 1.875% of the Budget

Democrats and Republicans are horn-locked in a debate about whether budget cuts should be $30 billion or $60 billion.

Senate Majority Leader Harry Reid, says President Barack Obama’s offer to accept a total of $30 billion in spending cuts for 2011 is “clearly in the same ballpark” with what House Republican leaders asked for.

The pathetic debate lingers on.

Please consider Budget Negotiations Stall Amid Charges of Inaction as U.S. Shutdown Looms

Republicans and Democrats in Congress traded charges over which party is stifling agreement on budget cuts needed to avert the first U.S. government shutdown in 15 years.

With no accord in sight on legislation to extend government spending past April 8, Senate Majority Leader Harry Reid, a Nevada Democrat, accused Republican leaders of trying to placate an “extreme minority” of their party by spurning an offer to reach a deal.

President Barack Obama’s offer to accept a total of $30 billion in spending cuts for 2011 is “clearly in the same ballpark” with what House Republican leaders initially sought before their rank-and-file demanded deeper reductions, Reid said.

“Are they afraid to tell the extreme Tea Party members of their caucus that they’re trying to find common ground with Democrats?” Reid asked yesterday at his weekly news conference.

Pathetic Performance by Both Parties

Quite frankly this is a pathetic performance by both parties. Moreover, I will flat out state the Republicans have only themselves to blame.

By offering a piss poor budget reduction of a mere $60 billion, they now look like the bad guys for not meeting the Obama half-way at $30 billion.

Just the Math Maam

Please do the math. $30 billion is a mere 1.875% of the budget. That is what everyone is pissing and moaning over.

If Republicans had any balls, and they clearly don't, they would have proposed cutting the budget by $300 billion. Then, a compromise at $150 billion would have been a mere 9.375% of the deficit.

It is is bad enough to argue over 9% of the budget, so what does it mean to bicker over 1.875% of the budget?

What it means is that neither party has the balls to fix a damn thing. It also means the Republicans can blame themselves for being placed in this absurd position.

Mish

GlobalEconomicAnalysis.blogspot.com

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