Debt deal done | Arkansas Blog

Tuesday, August 2, 2011

Debt deal done

Posted By on Tue, Aug 2, 2011 at 1:03 PM

The Senate votes are in. The debt ceiling deal passes. Both Sens. Mark Pryor and John Boozman voted for passage. Roby Brock has all the details, complete with quotes and other info, on the Arkansas delegation's votes.

TPM's take:

Months ago, as was widely predicted by close observers of U.S. politics, the GOP turned a simple recipe for avoiding this calamity — clean legislation to raise the debt limit — into a time bomb. The code to defuse the time bomb was an arbitrary, but highly ideological, policy formula: First, massive cuts to federal spending — one dollar of budget cuts for every dollar of new borrowing authority. Second, a guarantee that some of those cuts come from Medicare — a cynical gambit to force Democrats to take co-ownership of the GOP's entitlement onslaught, which backfired on them when they passed a budget that called for the dismantling of that program. Third, caps on discretionary spending — the one part of the budget that hasn't ballooned in the last decade, and provides most direct services to regular people. Fourth, no new tax revenues.

The Democrats' first error was not taking this threat seriously.

Tags: , , , ,

From the ArkTimes store


Comments (30)

Showing 1-30 of 30

Add a comment

Subscribe to this thread:
Showing 1-30 of 30

Add a comment

More by Gerard Matthews

Readers also liked…

  • IHOP coming down, but .....

    I always scan the Little Rock City Board for items of interest this week and this one caught my eye: A zoning measure required by a proposal to tear down the IHOP at Markham and University.
    • Apr 30, 2016
  • Baseball fans have a new place to stay

    If you missed out on Razorback baseball home games this year because you couldn’t find a great place to stay, your problem is now solved: Staybridge Suites of Fayetteville is now fully renovated and located directly across from Baum Stadium, with free parking for hotel guests.
    • May 22, 2017
  • Saturday's open line

    Got any thoughts? Put them here.
    • May 21, 2016

Most Shared

Most Recent Comments



© 2017 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation