UPDATE: Boehner, Reid Unveil the BOHICA Budget

Shades of 2004, anyone?

Let’s review, shall we?  Just days after the Cut Cap and Balance plan — a moderate position if there ever was one — sailed through the U.S. House and the Senate Republicans marshaled a supermajority just four votes shy for the Balanced Budget Amendment, and where even the Washington Post concedes that Republicans have won the debate on the budget… the conservative base is rewarded with this steaming pile of crap.

The plan would raise the debt ceiling by $1 trillion, but would only cut $100 billion next year (at best) to get a combined total of $1.5 trillion in cuts over ten years if subsequent Congresses leave everything alone. The odds of that happening are zilch. And do we really think in an election year either side will want to even touch $100 billion as a best case scenario? Hell, that’s what the GOP promised when it took over in November and it failed to deliver.

More troubling, the Speaker wants to then have the debt ceiling fight again next year and you and I both know they will cave again and Barack Obama will be hailed as a conquering hero in the run up to the 2012 election.

But most troubling is this “Super Congress” commission that can force through tax increases and the Speaker’s only assurance that it will not happen is “we won’t put people on the committee who’d vote for tax increases.”

Of course, Saxby Chambliss was one of those Republicans who was always opposed to tax increases until he suddenly wasn’t.

So just to review, kids:

…oh, and debt ceiling?  Hiked.

What did we win, again?!?

Frankly, I’m rather disgusted.  This is not a budget solution — it’s not even a “kick the can” approach.  It’s a total capitulation that fixes nothing in the long run, worsens things in the short term, tosses a bone to conservatives, pays down nothing, and impacts zero minus of the real budget for the long haul.

UPDATE: Virginia Rep. Scott Rigell sounds skeptical… as does most of the rank-and-file:

“It’s not Cut, Cap and Balance, but it’s based on the principles of Cut, Cap and Balance,” Boehner said Monday at a press conference.

But earlier, Rep. Jim Jordan (R-Ohio), the head of the conservative Republican Study Committee, stood up at the closed-door GOP conference meeting and pressed leadership to stick with the Cut, Cap and Balance plan.

Coming out of the meeting, leading conservatives such as Rep. Marsha Blackburn (R-Tenn.), leader of the freshman class Rep. Tim Scott (R-S.C.), Rep. Jeff Landry (R-La.) and Rep. Scott Rigell (R-Va.) all said that they would have to study the plan further before committing to support it.

Rigell said that he will be looking closely at the level of discretionary cuts for 2012 since he does not trust promises that more cuts will be made down the road. He signaled that he would be open to only requiring a vote on balanced budget amendment rather than full passage.

Good, healthy skepticism.  Let’s hope it matches the outrage on the ground.

UPDATE x3:  SENATOR JIM DEMINT DIGS IN!!!

“The plans released by both parties today fail to take our debt crisis seriously and will invite a downgrade in America’s credit rating,” said Senator DeMint. “Moody’s and S&P say we must have credible, long-term reforms to lower our debt or we will likely lose our AAA rating. But instead of serious reforms, both punt the hard decisions and create another useless deficit commission that won’t offer real solutions and would likely result in tax increase recommendations that destroy jobs. We’ve had at least 17 commissions over 3 decades and we’ve got $13 trillion in new debt to show for it. We don’t need another commission, we need to stop the reckless spending and balance the budget.”

“As I’ve said before, if you aim for principled reform, you win elections in the bargain; if you just aim for elections, you get neither. By competing with Democrats to create a better political debt deal, instead of a debt solution, Republicans are playing a lose-lose game. This is bad policy and bad politics. It seems our leaders have learned nothing from the Continuing Resolution disaster that promised big spending cuts but was just smoke & mirrors.”

“Neither plan stops the spending binge in Washington. Both plans assume we will run enormous deficits and rack up trillions of dollars in new debt with no end in sight. It could not be clearer that unless we pass a balanced budget amendment to force Washington not to spend more than it takes in, we will bankrupt our nation.”

“I will work to oppose both of these downgrade deals and continue to fight for Cut, Cap & Balance. The bipartisan House-passed Cut, Cap & Balance is the only plan on the table that will ensure we keep our AAA rating and the only plan that will ever allow us to pay down our debt instead of perpetually increasing it.”

Way to go, Senator DeMint!!!

UPDATE x4:  Rep. Jim Jordan, chairman of the 175-member strong conservative Republican Study Committee, has given Boehner’s plan a huge thumbs down:

“While I thank the Speaker for fighting for Republican principles, I cannot support the plan that was presented to House Republicans this afternoon.”

“The credit rating agencies have been clear that no matter what happens with the debt limit, the U.S. will lose its AAA credit rating unless we produce a credible plan to reduce the debt by trillions of dollars. Cut, Cap, and Balance is the only plan on the table that meets this standard. Only a Balanced Budget Amendment will actually solve our debt problems.”

“Washington wants a deal. Americans want a solution. The Senate should resume debate on the Cut, Cap, and Balance Act, amend it if necessary, and pass it, so we can provide the American people a real solution.”

Sounds like Cut, Cap, and Balance really is the only plan that’s going to make it through the U.S. House, folks…

UPDATE x5:  President Obama intends to address the nation at 9pm.  In other news, Turner Classic Movies will be showing the 1958 classic “I, Accuse” about the then infamous trial of Alfred Dreyfus being drummed out of the French Army… just in case you need to find something more interesting to watch.

Funny this — just 24 hours after the entire Congressional leadership (Dems and GOP) tell Obama to pound sand… Obama tries to make himself relevant again.

UPDATE x6: Speaker John Boehner’s comments to the nation tonight:

I want you to know I made a sincere effort to work with the president to identify a path forward that would implement the principles of Cut, Cap, & Balance in a manner that could secure bipartisan support and be signed into law.  I gave it my all.

Unfortunately, the president would not take yes for an answer.  Even when we thought we might be close on an agreement, the president’s demands changed.

The president has often said we need a ‘balanced’ approach — which in Washington means: we spend more. . .you pay more.  Having run a small business, I know those tax increases will destroy jobs.

The president is adamant that we cannot make fundamental changes to our entitlement programs.  As the father of two daughters, I know these programs won’t be there for them and their kids unless significant action is taken now.

The sad truth is that the president wanted a blank check six months ago, and he wants a blank check today.  That is just not going to happen.

You see, there is no stalemate in Congress.  The House has passed a bill to raise the debt limit with bipartisan support.  And this week, while the Senate is struggling to pass a bill filled with phony accounting and Washington gimmicks, we will pass another bill – one that was developed with the support of the bipartisan leadership of the U.S. Senate.

Obviously, I expect that bill can and will pass the Senate, and be sent to the President for his signature.  If the President signs it, the ‘crisis’ atmosphere he has created will simply disappear. The debt limit will be raised.  Spending will be cut by more than one trillion dollars, and a serious, bipartisan committee of the Congress will begin the hard but necessary work of dealing with the tough challenges our nation faces.

I dunno… maybe I was a little hard on Mr. Speaker.  Still don’t like the deal, though.