Senate kills “Cut, Cap and Balance”

The Senate voted along party lines this morning to table “Cut, Cap and Balance,” the budget plan offered by House Republicans that passed that chamber on Tuesday evening:

The Senate voted 51-46, along strict party-lines Friday to kill the House Republicans “cut, cap and balance” legislation.

The measure would have cut spending by $111 billion in 2012, capped spending over the next decade and prohibited more borrowing until Congress passes a balanced-budget amendment to the Constitution.

President Obama had threatened to veto the bill, which was dead on arrival in the Senate.

Senate Majority Leader Harry Reid (D-Nev.) called the legislation “very, very bad” and said it was a waste of the upper chamber’s time.
[…]

During the debate on “cut, cap and balance,” Senate Minority Leader Mitch McConnell (R-Ky.) argued the GOP plan would solve the nation’s deficit crisis if Democrats would join Republicans in supporting it.

“This isn’t rocket science,” said McConnell. “We could solve this problem this morning if Democrats would…join us in backing this legislation that Republicans support.”

Supporters of the proposal have cited a CNN poll in recent days showing that voters support some parts of it, specifically the Balanced Budget Amendment (BBA). That’s not a surprise since BBA proposal are politically popular. However, the “Cut, Cap and Balance” proposal passed by the House only called for a BBA. It didn’t attain the 2/3 requirement to pass a constitutional amendment.

While it did impose spending restrictions, “Cut, Cap and Balance” largely punted on reforming entitlements, the elephant in the room as far as long-term fiscal problems go.

At least Republicans presented something, which is more than we’ve seen from the White House and Democrats. Even the Gang of Six plan doesn’t include enough specifics to be actionable before August 2nd deadline to raise the debt ceiling.


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