The Senate Shared Sacrifice Bill Gets a Partisan Stall
I’ve been watching news coverage on this one because it sets up the basic budget debate. A few blogs covered it in passing. HotAir even rejoiced at the failed Cloture Motion the other day with a “Awww: Shared Sacrifice resolution goes down to defeat in the Senate” and calling it “Newspeak”.
I call it a basic tool towards actually paying down the debt. And if the GOP doesn’t get this, then they forget how their Demigod, Ronald Reagan did the same thing.
It’s too bad the media didn’t spend more time getting this bill some coverage beyond vote statistics because the national debate would have done us all some good.
To express the sense of the Senate on shared sacrifice in resolving the budget deficit.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SENSE OF THE SENATE ON SHARED SACRIFICE.
(a) Findings- Congress makes the following findings:
(1) The Wall Street Journal reports that median pay for chief financial officers of S&P 500 companies increased 19 percent to $2,900,000 last year.
(2) Over the past 10 years, the median family income has declined by more than $2,500.
(3) Twenty percent of all income earned in the United States is earned by the top 1 percent of individuals.
(4) Over the past quarter century, four-fifths of the income gains accrued to the top 1 percent of individuals.
(b) Sense of the Senate- It is the sense of the Senate that any agreement to reduce the budget deficit should require that those earning $1,000,000 or more per year make a more meaningful contribution to the deficit reduction effort.
While I wait for those jobs that lowered taxes were supposed to bring, I have no choice other than to plant a palm on my face with this ridiculous line drawn in the sand by the GOP. I’d bet Ronald is rolling in his grave as I write this.