Ever since Democrats lost the House in the 2010 elections, it has been clear that no significant progressive legislation would be passed and some concessions would have to be made. Elections have consequences and democrats lost. The Republicans are going to take their pound of flesh. The question, then, is what is a pound? Where does a deal become a deal breaker.
There are two main sorts of deals on the table.
1. Large cuts (including entitlement BENEFIT cuts) paired with tax increases
2. Smaller cuts (but no entitlement BENFIT cuts) with no tax increases.
So what are you willing to give up to prevent default?
My position.
I am not willing to reduce entitlement BENEFITS at all. I can live with some administrative cost savings and such, depending on the details.
My over-under line on non-entitlement budget cuts is somewhere around 1 trillion.
If the Republicans demand cuts beyond 1 trillion, I say let default happen.
If Republicans demand entitlement BENEFIT cuts, I say let default happen.
So how about you? What is your over-under line?
Note: I know there is some debate as to whether we can use a 14th amendment remedy on this. I am not a lawyer. All I know is that it is debatable as to whether this can be done legitimately. I really don't know. For the purposes of this discussion, I am not including it.
10:02 AM PT: Update: I am surprised to see how many folks have voted for nothing. I have asked several below if they would be willing to give the republicans at least a fig leaf, or if they actually want the default to happen? I ask this seriously. I do think we need to be honest about the results of default. Some poor, sick and elderly are going to die if it happens. How do the folks who argue for nothing square that?