Details here. I'm still trying to get my head around it. The actual plan is here.
A few immediate questions that need to be answered - how much of a hit will our economy take, in terms of increased unemployment and decreased (or slowed) GDP growth as a result of the "immediate" budget cuts in the plan?
And what exactly doe this mean?
• Prevent Congress from exceeding the caps by requiring a stand-alone resolution subject toWhat happens if the economy tanks again and we need to increase spending in the face of decreasing revenues? We need 67 votes in the Senate or we all die?
a 67-vote threshold, in order to isolate that vote to increase the deficit from any other policy
items
One good thing about all of this is that a bunch of Republicans just came out in favor of tax increases.
