The Hill reports:
Senate Budget Committee Chairman Kent Conrad (D-N.D.) said Wednesday afternoon that Democrats have reached an agreement on a budget plan and plan to unveil it as soon as next week.
“We’ve reached an agreement after weeks of work,” Conrad told The Hill. “I think it’s big.”
Conrad said it would reduce the deficit by more than $4 trillion over the next 10 years.
“I’m not going to go into any of the details until I have a chance to lay out the whole thing for people but it’s a very significant debt reduction plan,” he said. “It’s actually somewhat bigger than the fiscal commission.”
Conrad’s announcement ends a long, tense wait for the Democratic budget plan that had been tied up by an intra-party dispute between liberals and centrists on the budget panel.
The imminent introduction of a Senate Democratic budget plan shows that the party is unifying in preparation of a showdown with Republicans over the national debt limit.
Yawn. Considering that at the current rate of spending the deficit will be another 16 trillion in ten years, I'm not impressed at savings of 400 million a year. That's a rounding error and there is nothing to force compliance from a future congress.
Reply to this commentLinkReport Abuse"Conrad’s announcement ends a long, tense wait for the Democratic budget plan ..."
No, it does not. He has yet to release it, right? And he refuses to "get into specifics", no? So, we wait some more.
How is the wait over if no one knows what's in this allegedly existent budget?
“I think it’s big.”
Yeah, sure. 800 days is a "big" time frame for your tardiness and negligence.
Is it as "big" as ObamaCare? Will you read this "monstrosity" of yours before you vote on it? Or, do you have to pass it to remember what you wrote?
You said this a few months ago, to no avail. "Big" wolf cry?
Reply to this commentLinkReport AbuseIs Senator Conrad really this stupid? Instead of $1.6 trillion yearly deficits we’re going to have $1.2 trillion yearly deficits? Break out the champagne, happy days are here again, disaster has been averted!
Reply to this commentLinkReport AbuseAnd the only way they get to a paltry 400 mil a year in savings is with how many billions in tax hikes? No wonder he doesn't want to get into specifics...
Reply to this commentLinkReport AbuseCapthca is "Trust Me" - Haha!
You know, I am afraid we are moving closer to a Jeffersonian moment. They won't listen, they buy off their voters - h*ll, King George wasn't this tyranical!
Reply to this commentLinkReport AbuseIf the democrat budget proposal is indeed forthcoming, we know exactly what is in it: Massive
Cuts in the defense budget,
Tax increases on the rich and productive,
Massive indifference to the costs of the entitlement programs.
Plus various poisen pills (targeted to the usual pet groups)that will increase the
Overall spending
Social meddling
Government control over the economy.
The goal is always to make the Republicans reject it, and be blamed for what is to come. Or accept some horrid version of it, and be blamed for what is to come.
Everybody knows this. It's politics 24/7 with the democrats and the looming catastrophe changes nothing.
Reply to this commentLinkReport AbuseWill it reduce the national debt by $4 Trillion over the next 10 years? Or will it "reduce" (i.e. smoke and mirrors) the growth of spending from what to what?
Reply to this commentLinkReport AbuseOh, this is going to be FUN!
Reply to this commentLinkReport AbuseGood budget or bad, I'm certain it will be entertaining.
Reply to this commentLinkReport AbuseLets start the lottery.
Reply to this commentLinkReport AbuseMy money is on 50% tax increases and 50% phoney spending cuts.
Total agreement with the commentors here - lots of "immediate" tax increases plus "future" spending cuts, other than defense of course.
Or their budget will prject 10% GDP growth so no need to cut anything the economy will take care of it.
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