With the “Cut, Cap and Balance Act” having already passed the Republican-controlled House, the ball is now headed to the Senate’s court where Democrats hold a slim 51-47 majority. Two senators are independent.
South Carolina Senator Jim DeMint is a strong supporter of the legislation. In an interview Wednesday with Columbia affiliate WVOC, DeMint conceded that it will be tough sledding trying to pass the measure in the Senate. However he says a number of Democrats may be persuaded to throw their support for passage.
Many Democrats say they will not vote for the measure because it calls for capping Social Security, and seeks to balance the budget on the backs of Medicaid recipients and middle-income families.
DeMint says he believes the Republican leadership made a mistake in deciding to negotiate in secret with Vice President Biden’s bipartisan working group, which he said played into the President’s hands. Democrats argue that Republicans continue to label closing tax loopholes for the wealthy and ending subsidies for big oil corporations as tax increases.
DeMint continues to argue that the August 2 deadline is arbitrary and if a deal is not struck by that date the nation will not default on its obligations as some economists and politicians have warned. DeMint admits that the federal government will likely face some cash flow problems if a deal is not struck by the August 2 deadline and that should serve as a wake-up call to citizens that the nation’s government finds itself in a financial bind.
audio courtesy WVOC Columbia