- ‘I Am Alive’ app gains popularity in terror-ravaged Lebanon
- Gun giveaways gain popularity among Republican candidates
- S.C. hospital worker slapped with $525 federal fine for refilling $0.89 soda
- Teen from ‘Jihad Jane’ plot becomes youngest ever to serve time on U.S. terror charges
- Iranian woman forgives son’s killer at the gallows
- Nebraska principal sorry for ‘don’t tattle’ flier
- Illinois readies to spend $100M for Obama museum in Chicago
- John Edwards back in court — this time as a lawyer for Va. boy’s malpractice case
- Covered California reports more than 200K in overtime Obamacare sign-ups
- Thanks, Chuck: Hagel says U.S. sending Ukraine sleeping mats, helmets
LAMBRO: Making budget risk personal
Lawmakers gamble paychecks on signing a deal
“We’re very serious about this,” he said, adding that Democrats can forget about any further tax increases from here on out.
In this month’s “fiscal cliff” negotiations, Mr. Obama managed to squeeze higher taxes for Americans earning more than $400,000 a year, which would extract an estimated $650 billion in additional revenue from the economy over 10 years.
“They got their revenue increases already,” Mr. Ryan told reporters. Taxes are off the table.
The debt limit’s suspension until May 18 is only one of several budget deadlines looming over Congress and the White House. There are automatic budget cuts scheduled to carve $110 billion from the Pentagon and domestic programs on March 1 if Congress does not move to lessen the big bite it will take out of defense spending.
Then there’s the continuing resolution, an autopilot spending mechanism that has kept federal funds flowing to the government through March 26 — even without a budget. The government could shut down without an extension.
There is also the April 15 deadline when the House and Senate must approve their budget blueprints. Mr. Reid’s Senate has routinely ignored the deadline, but this time it may be different: Their paychecks are on the line.
Finally, the debt ceiling suspension will end May 19. Will the Senate approve its budget blueprint before then? Senate Budget Committee Chairman Patty Murray, Washington Democrat, says one will be adopted this year, the first since 2009.
Then comes the hardest part when the House and Senate must begin negotiations on a budget that can pass Congress. As things stand, the two chambers are miles apart on spending levels, with House Republicans demanding deeper cuts than Democrats are willing to accept.
Both sides are dug in for trench warfare. Republicans want to reduce the spiraling cost of entitlements and make significant reductions in discretionary spending.
Democrats oppose significant Medicare reforms and are still pushing the idea of raising taxes on the wealthy, a nonstarter in the House, instead of cutting waste-ridden government spending to the bone.
Deadlines will expire and perhaps be extended, while the national debt will swell by $450 billion. Tempers will flare, charges will be hurled. Welcome to democracy in action.
Donald Lambro is a syndicated columnist and former chief political correspondent for The Washington Times.
© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.
About the Author
TWT Video Picks
By Tammy Bruce
Team Obama's bizarre behavior helps Gitmo terrorists foil justice
Get Breaking Alerts
- BOLTON: A 'three-state solution' for Middle East peace
- With pot and e-cigarettes, Big Tobacco is just waiting to inhale emerging markets
- Jews being told to register in Ukraine: John Kerry
- Atheists rush to stage Easter display: 'Jesus Christ is a myth'
- Cliven Bundy's Nevada ranch wrecked by retreating feds
- U.S. Navy to turn seawater into jet fuel
- U.S. pilot scares off Iranians with 'Top Gun'-worthy stunt: 'You really ought to go home'
- KEENE: Familiar refrains from Britain's 'Tea Party'
- Skeptics on all sides take aim of John Kerry's tentative deal on Ukraine
- WEBER: Obamacare cuts home healthcare for millions of seniors
Recent Letters to the Editor
- LETTER TO THE EDITOR: Probe Boston teen's medical, custody case
- LETTER TO THE EDITOR: Bundy support a modern-day Tiananmen protest
- LETTER TO THE EDITOR: An honorable president would resign
- LETTER TO THE EDITOR: Bundy support demonstrates voters' distrust
- LETTER TO THE EDITOR: Obamacare disasters were avoidable