James Capretta is not a fan of the Gang of Six. He argues that their plan would include a 10-year, $2.3 trillion tax hike, and that “the Gang of Six has essentially offered a plan in which Republicans would hand over control of the budget process to Democratic senators and hope for the best. Enough said.”
Capretta also thinks that, at this point, the Republicans should be aiming for a smaller-scale deal to raise the ceiling long enough to buy time for extracting bigger spending cuts:
What conservatives should be doing is seizing the initiative in the House. They should move immediately to pass a small debt-limit increase, on the order of $500 billion, coupled with a reasonable set of spending cuts, including caps on discretionary spending. They should then send that to the Senate as the starting point for discussions. Doing this now would increase Speaker Boehner’s leverage immensely, as he would become the only person in the room who had shown by his actions that he doesn’t want a default. Moreover, at this late stage, there’s a very real chance it would become the vehicle for getting past August 2.
If Republicans can’t find their way to make such a move (for whatever reason), then they have little choice but to work with Senator McConnell on his version of Plan B. But they should make it absolutely clear that no version of the Gang of Six plan will be acceptable.
The problem being that time is now against a deal — at some point, it will be too late to draft new legislation in order to get it through the House and Senate and to Obama’s desk before August 2, if it’s not already too late. Now would be a great time to have a plausible bill favorable to Republicans in legislative form and introduced in Congress, so that Democrats and Obama would feel pressure to go along with it before the Treasury ran out of extraordinary measures to use. Instead, the Gang of Six is introducing something unacceptable.
Notice to Readers: The American Spectator and Spectator World are marks used by independent publishing companies that are not affiliated in any way. If you are looking for The Spectator World please click on the following link: https://thespectator.com/world.