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BRKG Bipartisan Budget Deal Reached, Avoiding January 15 Government Shutdown
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  1. #1
    Join Date
    Sep 2001
    Location
    1984
    Posts
    11,549

    Bipartisan Budget Deal Reached, Avoiding January 15 Government Shutdown

    Moments ago, news hit that democrat negotiators Patty Murray, and republican Paul
    Ryan reached a bipartisan deal to ease the automatic budget cuts by $60b. The deal
    calls for auctioning of govt airwaves, increased premiums for pensions backed by
    PBGC, a congressional aide told Bloomberg’s Heidi Przybyla. A press conference will be
    held at 6pm to unveil the bipartisan budget agreement, according to e-mailed
    statement. As a result, a January 15 government shutdown will be avoided.


    Submitted by Tyler Durden on 12/10/2013 18:01 -0500
    http://www.zerohedge.com/news/2013-1...nment-shutdown


    More from NBC:

    Negotiations on Capitol Hill have yielded a modest budget agreement to ease
    automatic spending cuts and replace some of them with savings from future-year
    cuts.


    Details on the pact by House Budget Committee Chairman Paul Ryan and Senate
    Budget Committee Chairman Patty Murray were to be announced by the duo
    Tuesday evening.


    The agreement would ease the harshest spending cuts set to strike the Pentagon
    and domestic agencies for a second year.


    It would require federal workers to contribute more to their pensions, increase
    premiums on companies whose pension plans are insured by the federal government
    and increase security fees paid by airline travelers.



    The pact by Ryan and Murray comes after several failed attempts at broader
    budget pacts
    And as a result of the implicit $5 billion a month fiscal boost, a near-term modest
    taper is now even more likely.
    shōu xìnyòngkă ma?

  2. #2
    Join Date
    May 2001
    Location
    Chihuahuan Desert
    Posts
    15,134
    If it's an agreement between the Reps and the Dems - the Dems almost certainly won...

    and regardless of the details - the American People LOST, Big Time.


    jmho

  3. #3
    Join Date
    Dec 2004
    Location
    Colorado, via People's Republic of New York
    Posts
    7,873
    BOHICA
    " 'cause we'll put a boot up your ass, it's the American way".

    Preps = "Git 'r done"
    Preps = "Just do it"

  4. #4
    Join Date
    Jan 2008
    Location
    WI - On the scene, like a sex machine.
    Posts
    24,831
    This is only a -proposed- deal.

    The House and Senate have not voted on beans yet.
    "The most intriguing point for the historian is that where history and legend meet."

    "None are more hopelessly enslaved than those who think they are free."

    Johann Wolfgang von Goethe

  5. #5
    Join Date
    Dec 2011
    Location
    SENM
    Posts
    1,770
    And the cuts in spending are where?

    Kajun
    Stupid outta hurt immediately!

  6. #6
    Join Date
    Jun 2001
    Location
    A Multi-Demensional Quantum Environment.
    Posts
    44,992
    Quote Originally Posted by TXKajun View Post
    And the cuts in spending are where?

    Kajun
    Cuts? Det mus' be onna dem werd on'ly spok't in Cajun country.

    I don't need a Catch-phrase. I'm Satanta. A Catch-phrase needs me.

    "It ain't no secret I didn't get these scars falling over in church."



    http://chronart.wix.com/chronart

  7. #7
    If you play the R&D two party game, this deal works best for the pubbies as it keeps 0bamacare the issue of the day. Pubbies poll badly when budget issues arise. Dems poll poorly when 0-care is front and center. Pubbies want nothing to distract from 0-care going into the 2014 midterms.

  8. #8
    Join Date
    Sep 2001
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    1984
    Posts
    11,549
    Quote Originally Posted by Red Baron View Post
    This is only a -proposed- deal.

    The House and Senate have not voted on beans yet.

    à double entente
    shōu xìnyòngkă ma?

  9. #9
    Join Date
    Aug 2009
    Location
    Here.
    Posts
    2,146
    Just one more backroom deal that you will have to wait until its passed to see what's in it.
    "Run for it? Running's not a plan! Running's what you do once a plan fails!"

    Chaos is order yet undeciphered. ************** My colors don't run !

  10. #10
    Join Date
    Jan 2012
    Location
    N. Central Texas
    Posts
    892
    Quote Originally Posted by TXKajun View Post
    And the cuts in spending are where?

    Kajun
    Surely you jest?

    These people consider reducing the rate of increase to be a "cut".

    For a long time, I've been advocating a 1 or 2% (real dollars) reduction in every budget every year for, oh, say 30 years if 1% or 15 years if 2%, For a start... I used to want 1%, but things are so out of hand that 2% is really the minimum that will have any impact.

    And, btw, if they're doing this, I'm willing to forgo any increase in my military retired pay, if they do the same for Social Security. I believe that we'd also see inflation slow, stop or possibly enter a deflationary period if government spending were reigned in for real.

    Jeff B.
    "The real destroyer of the liberties of the people is he who spreads among them bounties, donations and benefits"
    Plutarch (Roman Philosopher and Statesman)

  11. #11
    Join Date
    Jan 2008
    Location
    Idaho
    Posts
    5,107
    That is too bad.
    Some people are only alive because there are laws against killing them.

  12. #12
    Join Date
    Aug 2007
    Location
    DFW, Texas
    Posts
    10,215
    This is kind of like when I asked to borrow a hundred dollars from someone. They said they only had fifty. I said that's okay, you can owe me the rest later.
    "Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other."
    -John Adams, America’s Second President

  13. #13
    Quote Originally Posted by Possible Impact View Post
    ... It would require federal workers to contribute more to their pensions, increase
    premiums on companies whose pension plans are insured by the federal government
    and increase security fees paid by airline travelers ...
    These are exemplars of the insanity on the Hill (also demonstrates the ego inflation brought on by Peter Principal pay grades that I mentioned in Pac's story thread) and reflects poorly on the intelligence of anyone who believes there is any budget repair/reduction contained in the ideas. Here's some basic thoughts on why just these three specific ones are not worth the ink they'll waste:

    1) The TSP (401K) is an optional participation, flexible contribution plan so raising rates on that won't work. However, participation & contributions to the CSRS/FERS pension plan (DB) have always been mandatory which means that's the one they're wanting to increase.

    TPTB are already "unofficially" playing with federal employee contributions to the TSP as part of managing the budget - participants can thank the Hollow Chocolate Easter Bunny's administration for initially hiding/stealing their candy (IMNSHO, this game plan will be expanded by future administrations) - just like administrations of yore did with the Social Security contributions before openly making the latter part of the general budget with phony IOUs. Now, they want to increase contributions to the DB plan? I'd bet my pension (oh, wait it IS my pension - I'm just no longer on the contribution side but two of my kids are paying into it & one, possibly two more soon will be) that contributions into the regular pension fund have likewise been in play for years.

    2) The PBGC premiums income is another line item that is not officially part of the general budget - oops - dropping their dirty drawers and weenie waggin' the public on that one there, aren't they? Pretending for a nanosecond that TPTB are not already playing balancing games with those funds, as well, the PBGC has a problem not because the premium rates are too low but because so many companies have been allowed to get years behind in paying them. Besides, the PBGC insures private industry defined benefit plans & most of those have already gone the way of the dodo. If they aren't paying up at the current rate, in what fantasy will raising the rate help? Anyone? Anyone? Bueller?

    3) This proposal might, I say might, be useful to help maintain the salaries of air traffic controllers and the re-instituted air marshall program but I doubt it as the enormity of such fees would kill the industry and we would go back to the days when only the wealthy & business suits could afford to fly. I don't fly any more but having spent too many hours on too many flights with screeching brats/oblivious parents and adults who bathed in their cologne before boarding, I can actually see a potential benefit in expanding on this idea.

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