Republicans offered a $4 billion, two-week stopgap measure to avoid a government shutdown, as NBC’s Luke Russert reported yesterday. But Democrats are not warm to the idea. A Senate Democratic leadership aide tells First Read, “This is not going to draw the votes from Democrats that they hope, certainly not enough to get 60. It’s their same bill, in disguise as a prorated version. They are just trying to throw different versions of the same proposal out there so they can look like they are making repeated attempts to avoid a shutdown. But privately they are signaling they will not go below the 61 billion, even it comes to a shutdown.”
Why are they rejecting it? As NBC’s Ken Strickland reports, “[T]he $4-billion two-week short term fix is equal to a pro-rated amount of the $61-billion worth of spending cuts in the long-term Continuing Resolution the House passed last week. In other words, if you divided $61-billion into the remaining weeks of the fiscal year, it would be about $2 billion per week. For two weeks--the likely length of the short term stopgap bill -- that would be $4 billion.”
The Boston Globe affirms that: “The $4 billion figure is roughly equal to the pace of cuts in a bigger bill passed by Republicans last week that slashes $61 billion from the budget over the remaining seven months of the fiscal year.”
Here’s Majority Leader Harry Reid’s statement: "The Republicans' so-called compromise is nothing more than the same extreme package the House already handed the Senate, just with a different bow. This isn't a compromise, it's a hardening of their original position. This bill would simply be a two-week version of the reckless measure the House passed last weekend. It would impose the same spending levels in the short term as their initial proposal does in the long term, and it isn't going to fool anyone. Both proposals are non-starters in the Senate.
Yet Republicans believe Democrats should and will accept it. Roll Call: “The goal, aides said, was to craft a bill that makes enough cuts to appease conservatives but cherry-picks reductions that Democrats and Republicans already support to make it palatable to the minority and the White House. That, Republicans hope, will put enough pressure on Senate Democratic moderates that Senate Majority Leader Harry Reid (D-Nev.) will be forced to accept the bill. The reductions will be ‘things [Democrats] identified they’re willing to cut,’ a GOP leadership aide said.” (Though the proposed cuts haven’t been publicly itemized.)
Since members of Congress love polls… The Hill writes, “A USA Today/Gallup poll shows that 60 percent want Republicans and Democrats to ‘agree to a compromise budget plan, even if that means they pass a budget you disagree with.’ Thirty-two percent want lawmakers to ‘hold out out for the basic budget plan they want, even if that means the government shuts down.’”
An “analysis released by Goldman Sachs' forecaster Alec Phillips on Wednesday that said the GOP spending plan for $61 billion in spending cuts could reduce Gross Domestic Product (GDP) growth by 1.5 to 2 percentage points later this year,” The Hill writes. Senate Democrat Chuck Schumer capitalized: "This analysis puts a dagger through the heart of their ‘cut-and-grow’ fantasy," said Schumer. "We need to reduce the deficit, but we must do it by striking the right balance between cutting spending and growing the economy," he said. Republicans, though, dug in. "We don't need more ineffective 'stimulus' spending — we need to get our economy growing again and help the private sector create jobs," Michael Steel said in a statement.


Well, Mr. Steele, we have had Massive tax cuts for some 9 years, HUGE profits in the Corporations and banks, regulation was rolled back during the Bush Years and this last election cycle was about JOBS...WHERE ARE THEY MR. STEELE, where are all of the jobs that were promised that would come from the massive tax giveaways. I am to the point where I am fully ready to say "If the corporations will not hire in the same percentages as their profits have risen, then they need to be taxed at TWICE the level of those profits. Watch the hiring begin as the Corporations try to save their profits. There IS no 'lack of work' as we see people with existing jobs working much longer days, for reduced pay, in order to try to keep up with the demand. If there were more people employed, there would be more money in the system and so demand would rise, meaning more people would be buying the products and services that they cannot afford now.
How short sighted do the Republicans really think ALL Americans really are?? They believe their own narrative and ignore reality. Thank God that Walker, with his being beholden to the Koch Brothers and his Payoff of trying to make it so that he can sell them the State owned power plants in Wisconsin is now very public, that and his taking the call from the (fake) Koch Brother when NORMAL CITIZENS and State leaders cannot even get phone time with him. The Repubs have given up on even trying to hide their Corporate Subservience and it is up to THE PEOPLE to take the power back AWAY from the Corporations. The Corporations are profiting handily while REAL People are being tossed out of their houses, denied medical coverage and are in serious danger of losing what safety net has been in place for them for when they fall into hardship. On the other hand, the Corporations, who are in NO hardship at all, are getting massive tax cuts and giveaways. Something Stinks in the republican Corridors of Government, and this HAS to change, for the People!
I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.
Thomas Jefferson
I'm still waiting for the democrats to put forward their spending bill with the cuts they are ready for. Then maybe the GOP and Democrats can start talking about a middle of the road. A CR on existing spending levels is not a beginning point, it is kicking the can down the road.
The Democratic/RP will wait forever to submit their spending bill with cuts. Cuts? Democratic/RP members don't want cuts - increase taxes has always been their motive. Spend, tax, spend, tax. When has it ever changed.?
I find that funny: The Repubs SPENT like drunken sailors, saying that DEFICITS DO NOT MATTER, all during Bush's Regime, yet as soon as a Black Man Democrat is in office it is all that they can (publicly) think of...somehow that does not make sense to me, they INTENTIONALLY try to break the bank on their watch, blame the next person in office, blocking all proposals to help the POPULACE, and then cry that they are trying to 'stop deficit spending'....how come so many Americans are falling for their OBVIOUS Lies?? How many Right Wing posters here are actually Team Themis members?? http://www.opinion-maker.org/2011/02/spying-on-internet-users/ Corporate paid hacks using the internet, under a Shadow Government Program to try to shade public opinion!
Wall St shelled out 21 billion in bonuses last year. They are to busy building gated mansions to worry about creating jobs.
Wall street and the Big Banks along with the fed. are responsible for this recession. They bankrupt this country and neither party will do anything about it. They both take so much $ they are beholding to people like Goldman Sachs. The financial reform bill is a joke and does nothing to stop Wall St from destroying our economy again. When a drug dealer or a mobster steals DOJ can confiscate all of their assets why not Wall st
Republicans right now are like Walker in Wisconsin. Won't compromise. Want to shut down government. Cause a backwards movement in the economy and try to blame it on the only adult in the room, President Obama. He knows exactly how to use this to his advantage and appear to be the only adult in the room.
Republican will do anything to make sure their corporate masters are given more of America's wealth, even after raping the middle class for the last 11 years. Wake up people! Soon you and your children will be working together in Koch Brothers' sweat shops on Sunday.
Put ideas forward Anna all i hear is Koch,Koch,Koch. Would you like to listen to someone who screamed Soros,Soros, Soros all day long. What don you suggest states due when they can't balance their budgets.Who would you cut? What would you cut? Both parties are responsible for this mess.
Lisa S,
If I see Soros becoming a dictator like Walker or trying to take no bid contracts like the Kochs, I'll be addressing him also. However all I see of old man Soros is a philanthropist pushing Democracy around the world and toppling dictators. I am 100% behind that sort of thing since he does it peacefully. Unlike Cheney and his sidekick Bush and their Christian crusades with the sword.