Thursday, March 29, 2012

Obama budget shot down in the house

If there is a more complete rejection and repudiation of Obama's scatter brained approach to the deficit, then I am not aware of it. Meanwhile, Rome is burning and our present day Nero is more concerned with March madness and the final four than rescuing this country from the abyss of economic collapse.

House rejects Bowles-Simpson, Obama budgets

The Bowles-Simpson deficit-reduction plan went down to a crushing defeat in the House late Wednesday night in a vote that damages the one bipartisan proposal that just a few months ago had seemed like a possible solution to the country’s debt woes.
The 382-38 defeat, with just 16 Republicans and 22 Democrats voting for it, marks a bad end to what began nearly two years ago, when President Obama tapped former White House Chief of Staff Erskine Bowles, a Democrat, and former Sen. Alan Simpson, a Republican, to lead a deficit-reduction committee.
Their report has popped up in every deficit discussion since then, but had never gotten a vote in either chamber until this week, when opponents prevailed.
“This doesn’t go big. This doesn’t tackle the problem. This doesn’t do the big things,” said Rep. Paul D. Ryan, Wisconsin Republican and chairman of the Budget Committee. “You can never get the debt under control if you don’t deal with our health care entitlement programs.”

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