If this Gang of Six Plan Takes Off, We're All Pretty Much Doomed. Start Calling your Senators

jtown1123

(1000+ posts) Send PM | Profile | Ignore

Tue Jul-19-11 01:53 PM
Original message

If this Gang of Six Plan Takes Off, We're All Pretty Much Doomed. Start Calling your Senators

Edited on Tue Jul-19-11 01:55 PM by jtown1123

Please read the PDF below. Basically, this plan fast tracks cuts to Entitlement programs...

• Provide expedited floor consideration for a consolidated bill meeting these instructions:
• If any committee fails to report entitlement program savings, impose across the board
cuts to programs in that committee’s jurisdiction as necessary to achieve the required
savings. To protect programs that benefit low income families, exempt from across the
board cuts those most in need.

Here's a link to the Bowles Simpson/Gang of Six Plan: http://assets.nationaljournal.com/pdf/071911ConradBudgetExecutiveSummary.pdf

NATIONAL JOURNAL
DOCUMENT: Gang of Six Deficit Plan Executive Summary
By Tim Fernholz

Updated: July 19, 2011 | 1:05 p.m.
July 19, 2011 | 12:51 p.m.
The following outline was provided to 49 senators who attended a bipartisan briefing on the progress of the Senate’s Gang of Six, a group working toward a fiscal bargain based on last year’s Bowles-Simpson commission report. The document quickly spread to K Street and throughout Washington.

Contributors include Senate Minority Leader Dick Durbin, D-Ill., Senate Budget Committee Chairman Kent Conrad, D-N.D., Senator Mark Warner, D-Va., Senator Mike Crapo, R-Idaho, Senator Saxby Chambliss, R-Ga., and Senator Tom Coburn, R-Okla.

Here's a good roundup from Kaiser Health News:

KAISER
Gang Of Six Plan To Cut Deficit By $3.7 T Includes Doc Fix, Gets Boost From Obama
Topics: Health Costs, Medicare, Medicaid, Politics

Jul 19, 2011

President Barack Obama praised the bipartisan plan, which includes $500 billion in immediate deficit cuts as well as larger, longer-term entitlement reforms.

The Washington Post: "President Obama on Tuesday praised a new bipartisan plan emerging in the Senate, calling it 'broadly consistent' with the White House's approach to raising the debt limit and describing it as a 'very significant step.' The plan, drafted by a bipartisan group of senators known as the 'Gang of Six,' has been in the works for months. After struggling to reach consensus and apparently disbanding last week, the group now says it's nearing agreement on a proposal, which could offer an alternative strategy for pushing an increase in the debt limit through Congress before the Aug. 2 deadline" (Montgomery, 7/19).

The Hill: "According to an executive summary, the Gang of Six plan would stabilize the debt by 2014. ... It would involve two separate bills, one implementing $500 billion in immediate deficit cuts and another implementing larger reforms. ... On entitlements, the plan would fully pay for the Medicare 'doc fix' over 10 years, allowing doctors to avoid a drastic cut in Medicare payments under the law which is regularly avoided but never paid for. It also contains strong enforcement procedures. One of these would require a 67-vote supermajority in the Senate to circumvent spending caps" (Bolton and Wasson, 7/19).

Atlanta Journal Constitution: "The plan uses a two-step legislative process: (1) an initial bill that makes immediate cuts; and (2) a process for a second bill to enact comprehensive reform and put our nation on a stable fiscal path. The plan would ... Spend health care dollars more efficiently in order to strengthen Medicare and Medicaid, while maintaining the basic structure of these critical programs ... Fully pays for SGR (the 'doc fix') over 10 years." The plan also would repeal The CLASS Act (Dupree, 7/19).

Inside Health Policy: The plan "would repeal the controversial long-term care insurance program -- or the CLASS ACT -- included in the health care law as part of a $500 billion 'down payment' on an 'aggressive two-step' legislative process led by committees of jurisdiction to reduce the deficit by a total of $3.7 trillion over 10 years. According to a five-page outline, the plan would require the Finance Committee to permanently reform or replace the physician payment system" (Lotven, 7/19).

The Wall Street Journal: "President Barack Obama on Tuesday backed a $3.7 trillion deficit-reduction plan after it gained fresh momentum from a bipartisan group in the Senate. Mr. Obama, speaking at a White House press briefing, praised the deficit-reduction proposal as "a very significant step" and said there's been progress generally in the protracted deficit discussions. He asked congressional leaders to begin crafting a final plan Wednesday. ... Mr. Obama's endorsement of a bipartisan Senate deficit-reduction proposal, however, could isolate conservative House Republicans who have yet to embrace the president's call for a deficit-cutting plan that includes tax-code changes" (Paletta and Favole, 7/19).

The New York Times: The bipartisan group of senators made their push "on Tuesday to win backing for an ambitious deficit-reduction proposal that includes new revenues as well as deep spending cuts. ... The group ... presented its plan to fellow senators as the House prepared to vote on a Republican budget plan. It would make deep spending cuts over time in domestic and military programs, including Medicare and Medicaid, and raise new revenues from closing myriad tax breaks and loopholes, while lowering tax rates across the board" (Calmes and Steinhauer, 7/19).

Los Angeles Times: "The proposal is based on recommendations from the bipartisan deficit commission that Obama commissioned last year, which he had initially been cool to. It includes entitlement reforms -- a major concern of Democrats -- and 'fundamental' tax reform, something that Republicans have been wary of throughout the debt negotiations. What was significant was the support it received, conceptually, from so many Republicans in the Senate – including Sen. Lamar Alexander (R-Tenn.), the third-ranking Republican in the Senate" (Memoli, Nicholas and Mascaro, 7/19).

Politico: "The House Republican leadership staff is reviewing the Gang of Six proposal, but has several concerns, according to aides. They are unclear how the plan gets to $3.7 trillion in savings, and want to see a more detailed plan, the aides say. From what they’ve seen of the plan, they Medicare and Medicaid proposals need to go further. And they’re already branding the plan as having tax increases" (Raju, 7/19).