But the first debate Thursday will be the threatened filibuster led by Sens. Rand Paul of Kentucky, Ted Cruz of Texas and Mike Lee of Utah. Lee said a filibuster would allow “three more days to assess how the bill would impact the rights of law-abiding citizens.”
“This debate is not just about magazine clips and pistol grips,” he said on the Senate floor. “It’s about the purpose of the Second Amendment.” Such far-reaching legislation should be subjected to a 60-vote majority to ensure bipartisan consensus, he said.
Today, President Obama said “we don’t have an immediate crisis in terms of debt” and that “for the next ten years, it’s gonna be a sustainable place.” His cavalier attitude is not exactly breaking news; he made similar comments last September.
But here’s the thing about our debt: it’s not actually sustainable and creditors will demand you pay it off eventually.
The Washington Post’s Ezra Klein, who characterized the offer as evidence the president “refuses to negotiate with himself,” casually walked his readers through the math:
It calls for $1.6 trillion in taxes and only $400 billion in new entitlement spending cuts (though note that it assumes the roughly trillion dollars in discretionary spending cuts passed in the Budget Control Act and the trillion dollars in savings from ending the wars, such that the total spending cuts, at least in the White House’s view, are nearer to $2.4 trillion). (emphasis added)
Not only is the offer fundamentally unserious, so too are characterizations that the math works. Last year, Heritage’s Patrick Knudsen explained the absurdity of using “war savings” as deficit reduction:
Today’s landmark – America’s total debt reaching $16 trillion – makes clear that although the economic recovery never materialized, President Obama’s trillion-dollar deficits certainly did. As any number of online videos can tell you, a trillion is a big and near incomprehensible number. For some perspective, consider the following: total US debt per citizen comes to more than $181,000, which is slightly less than the median home price in America. In the South and Midwest, it is well above the median home price. It is no wonder Americans’ economic confidence is once again on the decline.
That’s a nearly 50% increase in just 3 years! Even more disturbing, he doesn’t seem to care.