How Would You Solve the Debt Impasse?

This really isn’t a crisis anymore. It’s an impasse. The negotiations are NOT about the numbers. There is no way that Tea Party Republicans are going to get real cuts until after 2012.

In 2012, there is a chance, a very slight chance that they can get to 61 votes in the Senate, plus win the White House.

That’s what the debate is about.

The Democrats want the debate on debt, since it’s so toxic to their election chances, to happen post November 12.

The Republicans want the debt debate before the election.

How do you solve that? Please, give some suggestions in the comments. I know there are people in DC that read this blog-maybe you will come up with the way to split Solomon’s Baby.

  • Salmonsandi

    The majority and minority leaders of the House and Senate, play 18 holes of golf. The winner has their plan passed. Previous to the round, the POTUS agrees to the terms. Problem solved and everyone has fun.
    Maybe Pelosi will turn pro and leave the house.

    • http://marketshotnyc.com MarketShot

      Probably one of the better ideas lol

    • http://www.pointsandfigures.com pointsnfigures

      who verifies handicaps?

  • http://marketshotnyc.com MarketShot

    I’d solve the debt impasse by throwing the Obama and McConnell into a “public execution gauntlet staged as a TV game show”, also known as The Running Man.  Winner gets their plan passed.

  • don

    I disagree with our controlled media. Not raising the ceiling is a good thing. Now let us see how our so called leaders will get the finances of the country in order.

  • don

    I disagree with our controlled media. Not raising the ceiling is a good thing. Now let us see how our so called leaders will get the finances of the country in order.

  • chuckmc1

    Go back and rescind every spending program instituted by the current administration and we would have money in the bank. Problem solved!

  • chuckmc1

    Go back and rescind every spending program instituted by the current administration and we would have money in the bank. Problem solved!

  • William O Douglas

    Seriously, I’d adopt the Buffett idea of passing a law that says anytime there is a deficit of more than 3% of GDP, all sitting members of Congress become ineligible for re-election!

  • Sftimpe

    It seems to be pretty clear how this ends. Obama started by insisting that there be tax increases along with cuts (20% of it through taxes, 80% through cuts, though he changed midstream and asked for an 400 b in taxes which is when Boehner walked out) but now, along with other Democrats, is  willing to take all cuts. The Boehner plan will get through, eventually, and then the Senate Democrat holdouts will be pressured. Obama will NOT veto anything, at the last hour (which is still a long way off). We’ll get one trillion ish in cuts, no tax increases and a replay within the year.

  • Deanrandy2

    They need to go back to a level of spending and taxes previosly agreed to in a prior administration – this seems to work it’s way into all their discussions. Whether discussing Reagan or Clinton, they are used as reference points – by using those spending limits they can disassociate themselves some what from responsibility and the country accepted those under those Presidents.

  • Paw

    I think you’ll find that the Dems will be happy to debate the debt issue along with jobs, tax inequality and the Republican desire to strip away the social safety net from the old, the poor and the disabled. The Republicans have overplayed their hand and exposed their underlying agenda, which is to damage the economy as long as there’s a Democrat in the White House.

    • Ldalb82

      Or an alternate agenda – common sense and the realization that if we don’t fix the spending problem now it will fix itself in a much more painful way letter. We can choose to make cuts. Or we can let the cuts happen naturally when everything crashes down. Either wag cuts come. That’s the beauty of capitalism. The system is self correcting. And it will indeed correct sooner or later.

  • Jack Beverly

    Cut all government (state, local, federal)  spending on salaries and pensions above 35k on a sliding scale between 10% and 50%.  The country is bankrupt and in need of a cram-down.  The cram-down should be in medical services, education, and defense industries as well.  They are all “derivatives” of failed government policies.  The fraud and over billing in these sectors is unsustainable and indefensible. 

  • http://znmeb.myopenid.com/ M. Edward (Ed) Borasky

    There’s no “Solomon’s Baby” here. There’s no “impasse”. Everybody knows what needs to be done – it’s clearly laid out by the Congressional Budget Office and has been on the table for months. The director of the CBO has a blog – he sends letters to the Senate Finance committee. He makes presentations to the Federal Reserve. It’s this simple:

    “Fiscal policy cannot be put on a sustainable path just by eliminating waste and inefficiency; instead, changes will need to significantly affect popular programs, people’s tax payments, or both.”

    We don’t need a balanced budget amendment. We don’t need any more “biparitisan commissions” to study the issues. We simply need the Congress and the President to stop arguing, bickering, making speeches and tweeting and sit down and do what the CBO calls out as necessary.

    I hope in the end that’s what happens  Personally, I think the best thing this late in the current fiasco would be for the Senate and the White House to take the next bill that comes out of the House, regardless of how badly it sticks in their craw, and then take the CBO’s message to the people, the states, the markets and business. The President has the Constitutional authority to call Congress into emergency sessions, and that’s exactly what should happen.