Why the Boehner Debt Ceiling Plan Died
The Congressional Budget Office found that the John Boehner debt ceiling cut plan would only cut $890 billion from the budget from the budget from 2012 to 2021. The cuts aren't radical enough for Boehner to get his caucus behind it.
Relative to the adjusted March baseline, proposed budget authority would be $840 billionlower and outlays $710 billion lower over the 2012-2021 period. Relative to the January baseline, excluding funding for the wars in Iraq and Afghanistan and for similar activities, the proposed caps would lower budget authority by nearly $1.1 trillion and outlays by about $890 billion over the 2012-2021 period (see Table 1).
The one Republican that was behind it was Rep. Allen West. It had nothing to do with Milton Friedman economic theories.. House Majority Whip Kevin McCarthy showed the Republican caucus the Ben Affleck movie The Town. The scene that West made his decision on the future of America's private and public financial system was a scene of Affleck's and Jeremy Renner's characters talking about fucking up some local hoodlums.
Ben Affleck: I need your help. I can’t tell you what it is. You can never ask me about it later. And we’re going to hurt some people.
Jeremy Renner: Which car are we going to take?
Republicans aides told the Washington Post West's reaction to this inspiring message on economic policy.
After showing the clip, Rep. Allen West (R-Fla.), one of the most outspoken critics of leadership among the 87 freshmen, stood up to speak, according to GOP aides.
“I’m ready to drive the car,” West replied, surprising many Republicans by giving his full -throated support for the plan.
Words fail me.
Below is the CBO score of Boehner's plan.
House Budget Control Act