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Wednesday, January 23, 2013

Budget

I've seen countless editorials about what the GOP needs to do to pick its battles and what battles it should pick, leading up to the debt ceiling debate. Here is a typical example.

A writer for RedState has the most complete synopsis of actual GOP plans thus far, to extend the debt ceiling only until May so that the GOP can accomplish some real budget plans, as well as making the Senate pass a budget. Their first since 2009 even though it's required by law!
The underlying rationale behind this strategy is to defer the debt ceiling fight until after the FY 2013 CR is dealt with and the FY 2014 budgets are formulated. The idea is that the House would unite behind a pro-active budget/debt plan in March from which they would harness as their demand for any long-term debt ceiling increase in mid-April.

What sort of budget plan would Republicans formulate in March? According to a joint letter by five current and former chairmen of the Republican Study Committee, who are all supporting this plan, “the House will work to put the country on the path to a balanced budget in 10 years. House leadership also agreed to stand by the $974 billion discretionary number that is part of the sequestration process.”

If Republicans would truly use this short-term extension as an opportunity to formulate a balanced budget from which to use as any future demand for raising the debt ceiling, it’s a great deal.
But will they follow through? Boehner and his ilk have a history of promises conservatives what they want, then caving to the Democrats. Here's hoping.

Apparently Paul Ryan the prudent was leading these initiatives in his caucus.

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