Boehner: ‘We Are Going to Begin to Solve Our Debt Problem’— 72% Debt-to-GDP Ratio in 2022
By Elizabeth Harrington
December 12, 2012
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(CNSNews.com) – House Speaker John Boehner (R-Ohio) said, “We are going to begin to solve our debt problem” with his proposal to avert the fiscal cliff, Wednesday.

“Presidents get elected to lead,” Boehner said during a press conference on Capitol Hill. “The president talked about a balanced approach. We’ve brought a balanced approach.

“But I’ve said this – you’ve all heard me say this, and I’ll say it one more time: we are going to begin to solve our debt problem,” he said. “And we’re not going to be able to solve it by kicking the can down the road and doing all the gimmicks that have been done in the past.”

“It’s time to address our spending problem,” Boehner said.

According to the Committee for a Responsible Budget, a bipartisan, non-profit organization, however, the proposal offered by Boehner would still leave the debt above 70 percent of Gross Domestic Product (GDP) 10 years from now.

The group analyzed both the proposals offered by President Barack Obama and the House Republican leadership, finding little difference in their results to lower the share of debt to GDP.

Obama’s plan, which featured $1.6 trillion in tax hikes and at least $50 billion in additional stimulus spending, will leave debt-to-GDP at 73 percent by 2022.

Boehner’s proposal, meanwhile, which was sent in the form of a letter to the White House on Dec. 3 and conceded $800 billion in new revenue and roughly $1 trillion in spending cuts, leaves debt-to-GDP at 72 percent in 2022.

“While it is great to see that both sides are looking to address revenue and spending, both sides should negotiate up not down,” the committee said. “The original plans offered are likely to barely stabilize the debt or put it on a slow downward path.

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Hey Johnny, it was time to address the spending problem about 99 years ago!

And these static models used to project all of this nonsense aren't worth the paper that they print the results on.

I saw Boehner on television live, today. He mentioned and pointed to the chart that he had next to him.

The camera didn't pan over to the left so I could see the chart. I think the cameraman himself knew it was simply window dressing.