StanCollender'sCapitalGainsandGames Washington, Wall Street and Everything in Between



The B-S Cult Is Alive! Isn't Judd Gregg Supposed To Be Politically Astute?

16 Apr 2012
Posted by Stan Collender

Several weeks ago I posted for the first time about the Bowles-Simpson cult, the supposedly smart, sincere people who keep trying to resurrect the B-S plan as if it were a budget deity even though it has never proven to have any significant support.

It's now clear that former Senator Judd Gregg (R-NH) is a member member of the B-S cult.

Gregg has an op-ed in The Hill today extolling the virtues of the Bowles-Simpson commission that makes so little sense you have to wonder what, if anything he was thinking when it was submitted for publication.

According to Gregg, compared to the chaos that is likely in the lame duck, "What is needed is a more orderly and thoughtful course that produces the long-term savings without the draconian (sic) and ham-handed actions currently proposed."

So far so good.

But then Gregg says "The only viable, bipartisan vehicle that has been put forward to produce such an orderly reduction in our debt is the plan offered by former Sen. Alan Simpson (R-Wyo.) and former White House Chief of Staff Erskine Bowles" and proposes that the B-S commission be reconstituted.

He then goes on to criticize House Budget Committee Chairman Paul Ryan's (R-WI) budget for being too partisan and "not legislatively viable."

And he says "Bowles and Simpson may be the only two people in Washington who have the credibility and track record to get it done."

Lets see...

1. The B-S process was anything but orderly. It missed deadlines, didn't include a vote on the chairmen's proposal, and died without having enough support to push the plan to a vote in Congress.

2. As budget committee chairman, Ryan will have to agree to any new B-S effort. But as a B-S member, Ryan indicated that he opposed what Bowles and Simpson proposed last time.  In fact, it was Ryan and another B-S member -- House Ways and Means Committee Chairman Dave Camp (R-MI) -- whose opposition to B-S was largely responsible for it not moving forward.

And Ryan voted against the B-S budget amendment that was resoundingly defeated 38 to 382 when it was offered as an alternative to the Ryan plan several weeks ago.

3. In other words, it's already been proven that Bowles and Simpson and their plan have no credibility on the budget whatsoever.

 

Bowles-Simpson wand-waving

not to mention that, the B-S plan for reducing Medicare costs was as vague as Ryan's plan for which tax breaks to eliminate -- it was "wave a wand and say the costs will go down by x% a year" -- that is NOT a plan!!!!




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