E-mail updates
Follow on Twitter
Subscribe to RSSPresident Obama praised lawmakers and Vice President Joe Biden after the House of Representatives voted to pass a Senate measure to avert the most serious impacts of the so-called "fiscal cliff."
The last-minute deal-making on Capitol Hill may have helped avert the fiscal cliff for now, but many commentators expressed pessimism over the agreement and the distressing sight of lawmakers allowing the world’s largest economy to teeter near economic disaster.
“This is a bad bill that made a bad situation worse,” Richard Haas, the president of the Council on Foreign Relations, said Wednesday on MSNBC’s Morning Joe.
“The only thing it did was avoiding sending the signal (to the rest of the world) that we’re reckless and out of control,” he added.
Consumers, businesses and financial markets have been rattled by the months of budget brinkmanship. The crisis ended when dozens of Republicans in the House of Representatives buckled and backed tax hikes approved by the Democratic-controlled Senate.
But even with the agreement, more budget drama is expected on the way. In February, Congress will have to decide what to do about a slew of other spending cuts. Then, in March, lawmakers will decide on whether to increase the federal borrowing limit.
“We could see an early lift in the markets because of relief the deal went through,” Gary Thayer, the chief macro strategist at Wells Fargo Advisors, told The New York Times. “The response may be muted because the deal left out many long-term issues.”
'A missed opportunity'
Erskine Bowles and Alan Simpson, who headed a deficit commission for Obama, said lawmakers missed a "magic moment to do something big" for the American economy.
“The deal approved today is truly a missed opportunity to do something big to reduce our long term fiscal problems, but it is a small step forward in our efforts to reduce the federal deficit,” they said in a joint statement released Tuesday.
PhotoBlog: Deal done, Obama heads back to Hawaii with a weary wink
In a scathing editorial, the Wall Street Journal called for the parties to go their own ways in Congress and tried to rally Republicans against Obama.
“Having been cornered into letting Democrats carry this special-interest slag heap through the House, Speaker John Boehner should from now on cease all backdoor negotiations and pursue regular legislative order. House Republicans should pursue their own agenda and let Mr. Obama and Senate Democrats pursue theirs. Mr. Obama has his tax triumph. Let it be his last,” it wrote on the editorial page.
Economists had been warning that the tax increases and spending cuts could take a chunk out of the U.S. economy.
PhotoBlog: Behind the scenes as Congress works overtime
But early Wednesday, world markets registered relief over the deal.
Benchmarks in Australia and Hong Kong boomeranged on the first trading day of the year. Asian markets had slipped on Monday, fearing that negotiations over the measure might collapse.
Many analysts were gloomy about long-term prospects.
“The process was so chaotic and the outcome so unsatisfactory that we are likely to see a further U.S. downgrade at some point,” Steven Englander, fixed-income strategist at Citi, wrote in a research note.
The House voted Monday to approve the Senate's fiscal cliff bill by a vote of 257-167. Richard Lui, Luke Russert and Mike Viqueira report on MSNBC.
But China's state news agency Xinhua took a more severe view, warning the United States must get to grips with a budget deficit that threatened not a "fiscal cliff" but a "fiscal abyss." Most of China's $3.3 trillion foreign exchange reserves are held in dollars.
Bipartisan outrage after House skips vote on $60 billion Sandy aid bill
For the Washington Post, the entire episode was depressing.
The newspaper expressed discouragement for what the episode suggests for political compromise going forward.
“The United States will have to wait longer yet for its inevitable budget reckoning,” it wrote in an editorial.
“We hope the nation’s leaders will be able to accomplish in stages what they have been unable to do in a series of self-imposed crises: raise more revenue and significantly reduce future entitlement spending. But the fiscal cliff episode offers little encouragement,” the newspaper concluded.
Reuters and The Associated Press contributed to this report.
Leave a Comment:
Bad all the way around.
We have decades of evidence every deal made with the republicon mob is a deal with the devil. It will come back to bites us all in the ass.
The real problem here is the gop gangsters obstructing everything American. The only viable fix is to remove them from office ASAP. Then shutter their propaganda machine and arrest the anti-Americans for their assaults on our country.
Ifine the same , but that the Dumbocrats are the evil monster
The real problem in America is stupid people; such as you.
Stupid people like me? I own my own construction company,had 250+ employees before Odumbo and the Dumocrats took over, matched every tax the government charges, state and local. I started it myself and will due everything i can not to pay more taxes . How you doing?
Political, are you always a douche bag, or just when you are doing drugs like now?/
You must be a libetard
Connecticut,
With your spelling and grammer, your company must be a shining example.../sarc/
What do you have, Chuck,Joe,skibum?
Yes the white house and congress are completely dysfunctional. A room full of 4th graders could do a better job of running the country. latest polls show only 23% of those polled believe the country is heading in the right direction. There must be a high degree of mental illness among the 23%.
Once again the GOP/Tea Party shows its true colors--they don't care about ordinary, middle class people. These folk are very insensitive to the point of evil. They seemingly can go to sleep at night w/o any difficulty and attend church every week without any hint of care for the victims of Sandy. I wonder how they would feel if such a disaster fell upon their constituents or their own families.
They don't care because the people that were affected were not their rich friends that pad their pockets and give them all the goodies like trips they are the blue collar hard workers that they look down their noses at.
Everybody who works will feel the impact. Sadly that means only about 1/2 the people who voted for Obama will feel the tax impact.
You really think half the people who voted for Obama work, I think thats a stretch.
Most do, including the retired (semi-retired or not very retired at all)! And the rest are paid slave wages by billionaire corporations and YOU underwrite that SLAVE wage by those people collecting welfare, emergency only medical care, and food stamps.
Craig, your ignorance shows no limits. Just like the spending problem in Washington. Too bad the TEA party isn't a party. Their ideas are the only possibility of stopping a global depression created entirely by government spending.
Sandy, Obama's base consisted of liberals, union workers and mostly takers. Most WORKING people voted for Romney
A bad bill, after out of control spending by obama, huge debt, very weak economy , people may be working but making much less, and one of the top two worst world leaders of all time in obama. A typical politician, lies and steals then blames someone else. I guess the meaning of the three colors of the American flag are :red- for the socialist government we have become, white- a signal that the government has surrendered and given up on being a strong Republic, blue- for the black and blue bruising to the American people that do not like the slippery slop that the country is falling down, nor voted for it either. It is a sad day for the Republic!
The fiscal cliff vote was good news but the fiscal terrorists will be back shortly with more hostage demands. Teabaggers are America's economic Al Qaeda intent on slitting our fiscal throat. They are America's worst enemy.
sharky.
The Democrats will likely preserve the good faith & credit of the U.S. taxpayers by printing more money and increasing China's "national treasure"; the U.S.'s $3.3T in i.o.u.'s.
Chou Ming called. He wants his interest check
Simply by using derogatory words shows you are a member of the far left with no idea of why we are where we are or in what direction we are heading.
The repubs only look out for their rich friends they were trying to push things through that would benefit them for ten years and for us middle income workers we get one year. You would think that they would have learned from this last election people are fed up with their loyalties to everyone except the American people. If they keep doing things the way they have been they will lose even more seats in both houses and in '16 there will be another dem president.
gramgigi, do you know how much democrat pork is in this bill? DO YOU????? Of course not!!!! Follow Obama off the next cliff because you deserve what you get.
Women! Sheesh.
Keep using talking points sheeple as you are led to the slaughter.
Gram,
In '16 the joke will be on ALL of us as there won't be a U.S. around for a Dem or Repub president to govern over.
We must get rid of the democrats before they spend us out of a country. Instead of cutting spending, they are adding $300 billion in spending.
Kevin: So the GOP abdicated on any input on anything. Better give your congress persons a call. If you can beat Norquist, Rove, and the other puppet masters to the phone.
I'm just happy we don't have to pay these a-holes overtime. they do nothing all year then have to work over time on a holiday to get something done that creates almost as many problems as it solves. when are these people going to learn that they work for America, not the Democratic or Republican political party.
There is a $430,000,000 tab in what they passed going to Hollywood to help promote American made films.... seriously? Good job democrats! So much for spending cuts!
@ red
its just not the democrats that do pork and unwarranted spending. look at all the money going to big pharma, the oil industry and no bid defense contracts. the republicans are all behind that, the fact is both these parties have to go. we also need campaign finance reform. we also need a balanced budget amendment. until we see both these parties gone we will not get any reform or anything done for the betterment of our govt.
Why should we be "satisfied" with the way Congress does "business" these days? The House and Senate had plenty of time to deal with the "fiscal cliff" yet they diddled away in a partisan way until the last minute and then came up with a small "fix" that, in the end, won't solve the problems this country faces.
2013 is just going to be more of the same partisan bickering and fighting. The republicans refuse to admit that President Obama is the elected leader of the country and they would do well to adopt a "loyal opposition" stance in respect to the many important items with which OUR government will have to deal in the months ahead.
There's nothing wrong with having differing opinions but there is something wrong when one political party holds the nation hostage on everything the President proposes.
I don't like some things that Obama has done but mostly he's done a good job under the circumstances. I may not agree with him on everything in the future.
However, I do expect our House and Senate members to do their jobs; to show leadership and statesmanship. To learn how to compromise and put party politics aside for the good of the Country. To behave in a manner conducive to "getting the job done" for the majority of Americans.
I am not holding my breath on this.
I agree that there is something wrong with one party holding the country hostage. Why do the Democrats refuse to face the fact that we have a spending problem? One was on this morning and stated that our country has an increasing appetite for entitlement programs. True! Put 'em on a diet!
A bad deal was worse than no deal.
.odumbo is only one happy, cut and run, more vacations, pathetic
Socialism...dose away with the incentive to be successful, and ushers in the welfare state, the USA will be known as the great welfare land.
Really? So tell me, "Ironx" how is America becoming "socialist". Please enlighten this forum.
It's called, the servants have taken over in the fields and the masters are now slaves to this socialism and take over of servants, not kings, NOW dictators who once served the people of this nation, now have made slaves out of all of us, even you idiot O-abomination supporters. 65% on welfare and food stamps, the rest selling drugs in your cities.. Real American blacks also seeing themselves back in slavery to a wicked corrupt governing system only blind idiots don't see now, they are destroying our nation..Fools will be fools
Tax and spend...welfare state...big government...penalizing business...governmental ownership and administration of the means of production and distribution of goods, the wealth etc, I could go on and on, but I don't expect libs to under stand, as with the progressive movement, is just another evil in the making as with the occupy movement, which was orchestrated by the left.
Chuck,
I am neither on Welfare nor am I selling drugs. And neither are any of the Obama supporters I know. Fact is, until you can get the GOP to come to the table and continue to negotiate on this nations real problems, we'll never solve them. Incidentally, you wouldn't happen to be some back woods redneck cousin kissin' Republican would you? Stereo typing works both ways!
Airborne
"until you can get the GOP to come to the table and continue to negotiate on this nations real problems,"
Is it negotiate or capitulate? Seems to me that one side or the other wants the latter.
A company I recently worked for had a tight deadline project to complete which was vital to the company's bottom line. They had been working on that project for almost a year with all key employees working very long hours to do so. They finished the project on time and under budget. And they DEFINITELY did not wait until the last minute, or break for vacations in the middle of project. So tell me why can't Congress be held to the same employment standards that private/public companies expect from their employees?
As soon as the new Congress meets, they should be required to work 12 hour days or more to pound out a viable tax/spending cut solution with BOTH parties being held responsible and BOTH parties not leaving Washington until the job is complete. Because that is EXACTLY what happens in the private and public sectors when a job must be done.
Now they can't even hold their heads up in their congregation of vipers. The shame they do not feel even when lying and cheating the people out of their hard earned incomes. But they will make sure to take 12 vacations this year, costing the hard working American people 1-2 million a day, What to protect a pig who lies and cheats, Can't even look up from the ground because of his treason and blasphemy. Now watch how much he spends Arming Muslim countries for more Wars and how many more men and women of America will die by weapons we are supplying our enemies.. Great leadership here folks, bought and paid for election, now we see it was also, gangster intimidated and terror threats were made by O-Abomination supporters. Like I heard many say in the last few years AND I AGREE. THIS IS NOT ?AMERICA? ANY MORE??NOT THE AMERICA MY FATHER DIED TO PROTECT.HIS AND MANY OTHERS DEATH IN VAIN.
The lies, the deceptions AGAIN, that put the plague of slavery around each Americans neck. Slaves to your jobs and slaves to your servants as they take over %35 percent of your take home pay YOUR Grain fields. AGAIN a dictator who lied to get his puppets to vote for him and he has even put them back into slavery with his agenda to pay for his Vacations, his golf days and over spending our country into blissful debt. No cuts to his criminal, gangster society and their high hog livings, living off the people and surely today not serving the people in any good manner. Now asking AGAIN to raise the so called debt ceiling so he can AGAIN, double or triple our national debt while putting hundreds of thousands of dollars in his pockets each year. Then this criminal has promised our enemies more aid as he takes from Americans and gives to Islam Again" in his arming Muslim nations for WARS. See how he aids and beds the enemies over feeding his own nation. WHY ARE AMERICANS SO STUPID TODAY. BLINDED IDIOTS ON THE O-ABOMINATION TRAIN OF SLAVERY NOW, THE NEW RIDE IN DISNEY LAND. and all the spoiled babies will cry if they have to get off the ride to save their country. ALL YOU O-ABOMINATION SUPPORTERS I laugh in you stupid ignorant faces, you got the same tax bill coming, other than the ones buying their heroin with food stamps and welfare or living off people who have these entitlements by selling them poisons..Go O-Abomination in Ameri-Con artist..
Well no doubt about it. If ignorance is indeed bliss, "Chuck-3392754" is one happy camper.
Yea and progressive for America, fool,,you are as blinded as all the idiots here, go get your welfare check and food stamps,, your drug dealer down the street is waiting for your purchase,,
And then go praise your lord and savior O-Avomitnation
Chuck: Well if billionaires would pay a decent wage, they wouldn't have to get food stamps and welfare! So check your sources on WHO is collecting and employed by WHOM!
Sandy, Why does a corporation or any job have to pay you a wage you think is proper? If you are so smart, why don't you go open up your own business or better yet invent something for all of mankind to use? Never mind, you want things handed to you for just being you. Let me clue you in on something, you aren't special and you are not the only human being on the planet and are not owed a thing in life. You want to be successful, get off you rump and go make something out of yourself. Your beloved president in his speech last night told you unemployment benefits will only be given now if you are actively looking for a job. I will tell you this and many Americans your free ride is over.
Sandy, try taking some responsibility, don't blame the rich because you are not successful. Do you think someone actually owes you.
Don't worry about it Sandy. As with every bubble before, the rich will do their own selves in. You can only cut wages and move jobs over seas for so long before you strip the people of enough money to buy your products/services. Then they'l start dropping like flies. It's inevitable.
The problem with the rich and corporations is eventually they run out of other people's money to take!
Airborne, your'e pathetic. Try having a little pride. I realize most liberals don't but at least try.
LOL! Right joe. The only thing pathetic here is your still pre election name calling and stereo typing of those who don't buy your ideological brainwashing. But hey, it works for you! :)
The same can be said about the government.
But as long as we as a nation make it increasingly more costly for companies to do business here, those companies will increasingly look for other places to do their business.
Businesses were doing just fine in the years before the Bush era tax cuts. The fact is, they and their stock holders have gotten used to making so much money in profits from the generous tax breaks the got in 01 and 03, they can't imagine going back to normal profit margins. Even as they and the conservatives tell the average American to just suck it up, it's the new economy. I'd be more than willing to give corporations doing business in this country a break FOR creating jobs. But I'm done giving them money and entitlements TO create jobs they never plan to create and instead invest that tax payer supplied money elsewhere and rake in profits they never pay taxes on.
Well, Sandy, if you cannot find a billionaire to pay you a decent wage maybe you should start your own business and strive to be that billionaire.
Interesting article in Alternet today titled "8 Huge Corporate Handouts in the Fiscal Cliff Bill". Sorry for the length of the post, but I believe it cuts to the REAL heart of the current deficit problem. And that is massive tax subsidies for entities that do not need them. And below is just the tip of the iceberg. To summarize:
1.) Help out NASCAR - Sec 312 extends the “seven year recovery period for motorsports entertainment complex property”, which is to say it allows anyone who builds a racetrack and associated facilities to get tax breaks on it. This one was projected to cost $43 million over two years.
2) A hundred million or so for Railroads - Sec. 306
provides tax credits to certain railroads for maintaining their tracks. It’s unclear why private businesses should be compensated for their costs of doing business. This is worth roughly $165 million a year.
3) Disney’s Gotta Eat - Sec. 317 is “Extension of special expensing rules for certain film and television productions”. It’s a
relatively straightforward subsidy to Hollywood studios, and according to the Joint Tax Committee, was projected to cost $150m for 2010 and 2011.
4) Help a brother mining company out – Sec. 307 and Sec. 316 offer tax incentives for miners to buy safety equipment and train their employees on mine safety. Taxpayers shouldn’t have to bribe mining companies to not kill their workers.
5) Subsidies for Goldman Sachs Headquarters – Sec. 328 extends “tax exempt financing for York Liberty Zone,” which was a program to provide post-9/11 recovery funds. Rather than going to small businesses
affected, however, this was, according to Bloomberg, “little more than a subsidy for fancy Manhattan apartments and office towers for Goldman Sachs and Bank of America Corp.” Michael Bloomberg himself actually thought the program was excessive, so that’s saying something. According to David Cay Johnston’s The Fine Print, Goldman got $1.6 billion in tax free financing for its new massive headquarters through Liberty Bonds.
6) $9B Off-shore financing loophole for banks
– Sec. 322 is an “Extension of the Active Financing Exception to Subpart F.” Very few tax loopholes have a trade association, but this one does. This strangely worded provision basically allows American corporations such as banks and manufactures to engage in certain lending practices and not pay taxes on income earned from it. According to this Washington Post piece, supporters of the bill include GE,
Caterpillar, and JP Morgan. Steve Elmendorf, super-lobbyist, has been paid $80,000 in 2012 alone to lobby on the “Active Financing Working Group.”
7) Tax credits for foreign subsidiaries – Sec. 323 is an extension of the “Look-through treatment of payments between related CFCs under foreign personal holding company income rules.” This gibberish sounding provision cost $1.5 billion from 2010 and 2011, and the US Chamber loves it. It’s a provision that
allows US multinationals to not pay taxes on income earned by companies they own abroad.
8) Bonus Depreciation, R&D Tax Credit – These are well-known corporate boondoggles. The research tax credit was projected to cost $8B for 2010 and 2011, and the depreciation provisions were projected to cost about $110B for those two years, with some of that made up in later years.
And people are chastising the Republicans that voted against the Fiscal Cliff Bill!!
Oh look, welfare case has time to go get information and copy and paste,, that crystal meth working for you is it. Go shoot your neighbor. he is doing more drugs than you..
I think your forgetting progressive,these are things that were all part of W'S tax breaks,and were not only passed with republican votes this time but everytime they have come up.Even the supreme teabagger himself,Grover , supported this bill.Quit your whining and call your republican reps that voted for it,dems could not have passed this without Boner folding
@ progressive
i think you just proved that America needs to stop voting for democrats and republicans. the only way we will see true change, and true hope is for a third party to come into power. one that is made up of the average American citizen. one that is willing to vote on campaign finance reform and a balanced budget amendment.
Progressive ...Totally agree with post 205.2, but the 8 handouts in question are nothing compared to the BIG 4 which are...
1) Medicare and Medicaid
2)S.S.
3) Defense
4) Interest on Debt
Source: http://www.nytimes.com/packages/html/newsgraphics/2011/0119-budget/index.html
That being said,I do believe that career politicians and handouts such as the ones posted are genuine problems. Also fraud and waste in the system. Oh wait,I already mentioned waste(career politicians)...HA.....Peace......
You notice that leftwing vermin have redefined "handouts" so that it doesn't mean real handouts, like deadbeat scum on welfare who get a free check in the mail, but instead it's people who get a tax break, so they're still paying money to the government, just less than if they didn't have the tax break.
So some big company pays 2 billion/year in taxes to the government instead of 2.2 billion and they "got a handout", according to leftwing trash.
Just like the guy who paid $0, and got $20,000 in free cash/benefits from the government.
Lefty liars are good at redefining words to mean something else.
@ history
the thing about social security is that the majority of people pay more into it, then they receive from retirement to death. social security would not have any problems with it, if our politicians would stop stealing from it. the problem is we citizens no longer hold our politicians accountable.
seriously you want to help the economy. how about a single payer non-profit health care provided for all in the US. my wife and i pay over nine thousand dollars a year in health insurance premiums. i bet we would only be paying half of that with a single payer non profit insurance. that would be like an additional four thousand five hundred dollars getting spread to other businesses in our economy.
Eric...I totally disagree with you. The vast majority of people get more from SS than they put in. I do agree that our politicians are thief's. But not just SS theft but theft in general(Lobbying,Earmarks,Excessive Pay and Benefits,Travel,etc...). We need to abolish both parties and end career politics. Everyone an independent with nominal pay and benefits working for the voters and not the corporations. Check this out....Peace....
The personal wealth of members of Congress increased by more than 22% between 1982 and 2010,on a collective basis,even as median household net worth in the U.S.dropped by 19%.The wealthiest lawmakers saw their net worth rise by more than 24%, according to The Washington Post, which recently examined politicians' finances.At least 150 lawmakers reported receiving more income from outside jobs and interests than from their congressional salaries of $174,000(!!) for rank-and-file members.
Representatives in 2010 had a median estimated wealth of $746,000; for senators, it was $2.6 million. By contrast,the annual net worth of a middle class American household is only $46,326 and that is WITHOUT the aforementioned medical/retirement benefits and compensation packages that Congress gets from taxpayers dollars..
A 2011 study by the CBO found that the top earning 1 percent of households gained about 228% after federal taxes and income transfers over a period between 1982 and 2007, compared to a gain of just under 42% for the more than 60 percent in the middle of America's income distribution.From 1982 to 2007 the top 400 earners in the U.S.saw their income increase 292% and their average tax rate reduced by 47%.The share of total income in America going to the top 1% of American households (also after federal taxes and income transfers) increased from 11.3% in 1979 to 20.9% in 2007.According to the United States Census Bureau, the income inequality between the richest and poorest grew to its widest in 2011,as the census recorded 46.2 million(!!) people living in poverty(Largest divide since the late '20's)..
As a reference point, the minimum wage rate in 2009 was $7.25 per hour or $15,080 for the 2080 hours in a typical work year. The minimum wage is a little more than the poverty level for a family of four and about 50% of the poverty level for a single person.
By contrast,the top salary in the U.S. in 2009 was $2.1 million an hour for a total of $4.2 BILLION annual salary(Wall St. hedge fund mgr).This is the society Reagan created and Republicans defend and it is as unsustainable today as it was when the Roman Empire had a similar system 2000 years ago.Massive widespread inequality will cause a society/economy to IMPLODE from within due to crime and poverty..
Eric...Also agree about the health care problem. Making money off of injuries and death is WRONG. The corporations and their greed are running this country into the ground.....Peace....
@ history
i would have to agree with you history. the problem is all these people arguing for and against the democrats and republicans. we need to wake up as a nation and realize that both these parties no longer are working for the average citizen. we need to stop arguing about who is worse or better and send them the way of the dinosaur.
on a side not my mother figured out what she payed in, then figured what she would be getting back from retirement until death. she found she had payed in way more back then what she was going to get out of SS. my wife and i did the same and where like what the hell, we are not getting back anything close to what we paid in. the sad thing is when i hit 65 i have to make a choice between my military retirement pay, or my SS. i cannot receive both, even though i have been forced to pay into SS all these years.
Eric...1st, Thank you for your service. 2nd, you should be able to collect both SS and military pay. That is BS! What are they doing with the money? Oh,that's right,they're stealing it. I do believe that as citizens we should have the option to opt out of SS and Medicare if we so desire. But the only way that works is the aforementioned single payer health care system. I understand Germany is doing very well with that. (Didn't we win that war?!?) Here are a few more ideas I came up with....Peace....
Adopt 1924 Tax Code*(Adjusted for inflation) for personal income rates-(No exemptions/loopholes/credits/deductions)..Adopt 1924 Tax Code*(Adjusted for inflation) for corporate/business income rates-(No exemptions/loopholes/credits/deductions)..Adopt 1924 Tax Code*(Adjusted for inflation) for capital gains rates-(No exemptions/loopholes/credits/deductions)..Adopt 2.5% National Sales Tax-($10-15 Billion/year) and 5% Surtax on US Off-Shore Income and Accounts above 1 million..Adopt Balanced Budget Amendment-(To be implemented after debt paid down)..
Enact Buffet Rule-(Minimum 35% Income Tax on 7 figure incomes)..Enact Low Corporate/Industrial Carbon Tax-($50-75 Billion/year)..Enact 10% Additional Tax Penalty to Corporations that choose to outsource American Jobs.. Enact 1% Federal Property Tax on homes above 1 million..Enact 1% Financial Transaction Tax on financial transaction profits..Enact 1% Federal Ticket Tax on Entertainment/Sporting events involving attendance of 5,000 or more..
Reform Political Finance System-(Over $2 Billion spent on 2012 presidential election alone) ..Reform Corporate/Agriculture Subsidies..Reform Legal/Court/Prison Systems..Reform Border and Immigration Laws-(Cap Immigration per year by quota)..Reform Wall St/Corporate Finance Laws-(Dodd/Frank not enough)..Reform Gas/Big Oil/Green Energy Subsidies..Reform Welfare and Welfare fraud-(Food stamps being abused,BMW's at the housing projects,etc).. Legalize and Tax Marijuana while redirecting Law enforcement dollars to real crime..Impose TARP Bank Tax on Banks over $5 Billion in assets for financial crisis stability-($50-100 Billion/year)..
Convert Unemployment benefits into Jobs/Careers-($520 Billion spent from '07-'12 in Unemployment benefits)..Convert Government Buildings/Schools to 10-50% Wind/Solar.. Slow the Growth of Social Security and Medicare-(Raise eligibility age,Adjust COLA,and Eliminate Benefits for wealthy)..Sell 5-10% of certain Government Assets-(Total assets currently valued at $2.7 Trillion).. 5-10% Cuts in all Government Spending including Defense,Discretionary,and Entitlement-($200-350 Billion/year)..
Create 1-900-YOU-VOTE for elections to eliminate fraud,long lines and raise revenue-($2.00 per voter)..Restructure Amtrak and Public transportation for max profit and operation..Restructure Utility Grid and Post Office for max profit and operation..Restructure National Air/Rail/Port Systems for 21st Century..Restructure National/State lotteries for multiple 6-figure jackpots not single 9-figure jackpots-(More consumer spending)..
Initiate National Move towards 4 cylinder/hybrid/bio cars-trucks..Initiate National Multi-level Jobs/Rural Grant Program..Initiate National Inner-city Real Estate Renovation.. Initiate National Annual Audit of Government Expenses and Eliminate Waste/Fraud-($100-250 Billion/year).. Increase Investments in Education and Infrastructure/Transportation-(Public/Private)..Increase Domestic Products Manufacturing and Exports-(Public/Private)..Increase Domestic Energy Research and Production-(Public/Private)..Increase Domestic Recycling and Industrial Clean-up Efforts..
Tap into 10-20% of oil reserves for economic boost..Abolish both political parties and divert war chests to deficit..Abolish Political lobbying and Political earmarks..Adjust import/export tariffs to favor US manufacturing instead of China..
GOD BLESS AMERICA and THE WORLD. AMEN.
@ history
a lot of what you mention makes some great sense. what i don't understand is why they didn't just reinstate the Glass Stegal act? the Glass Stegal act kept wall street out of trouble for a very long time. the politicians instead did Dodd Frank which is so full of loopholes it might as well be non existent.
tell you what you run for president and i will run as your VP. hopefully we can get some like minded others to run for congress. the only way we will see change for the better is to get rid of both the democratic and republican parties. lets face it over the years these parties have only been voting to better themselves and not the american public.
Eric...Thanks,but they wouldn't have either of us. We have common sense and care about our country. I think you are onto something,though. Wall Street has become Washington and Washington has become Wall St. plus Glass Stegal probably kept them honest and they will have none of that. As long as the parties and their corporations continue to run the show,nothing is going to change. We can only pray that the American people wake up and realize they are being scammed by both parties and the ultra-rich. Say,didn't Ike warn us about some sort of "complex"? How long ago was that? I also wonder would the forefathers have set up a congress if they had global communication? Didn't that have something to do with horses being the fastest way to send a message?...Peace....
To read many of the comments, you'd think the world was still coming to an end. I'm not sure what people posting here were expecting but I can guarantee you this much.
If the President and both Houses of Congress had come up with the perfect deal, many of you would STILL be bellyachin!
There are a few who said Liberals want the government to take care of them. I say (and comments prove it) there are quite a number of Conservatives who feel the exact same way. The only difference is that Conservatives will never admit it.
There is no perfect deal.
100% correct. Conservatives do feel the exact same way. Corporate tax breaks, corporate tax subsidies, enormous tax loopholes for the wealthy/ultra wealthy and laws that are written by corporations/wealthy and ultra wealthy that allow the United States Government to subsidize the aforementioned wealthy welfare is DEFINITELY "wanting the government to take care of them".
Democrats get elected to grow the government and increase social spending
Republicans get elected to make government smaller and reduce spending
Each side should stick to doing what they were elected for... shame on the house republicans for voting yes on this.
--------------------------------------------
I am glad I have food put away for the coming collapse of the US dollar and a good supply of "self defense / hunting items"... at least I will be able to get through the initial (1st year) of rising prices, riots, looting, pandemic, power disruptions, food scarcity ..........
Mark,you sound awfully paranoid,you should cut back on the crank and turn over any weapons you may own
Well Bob - since Gas, Milk, Electric, Natural gas, Medical, and other things have gone up in price... I would say I am the smart on for stocking food and am a head of the curve.
I have a bunch of Peanut Butter, Wheat, Flour, Sugar, soup, canned veggies and fruit, canned ham and chicken... so when it collapses... and it will... I will be feeding my 3 kids and helping out the neighbors while you are paying $10 for milk and $8 for bread..
And the best thing I live in the country with deer in my back yard and good God loving neighbors...
paranoid -
let me see
Economic Depression - yep it has happened before in America
Drought - Yep Happened before
Food Shortages - Yep happened before
so we have a history of it happening here
on the plus side - even if nothing happens... I am eating food that costs about 25% less then what you are eating because I constantly rotate my food (except the long term wheat, sugar, etc)
Mark,you have demonstrated one major difference between conservatives and liberals.You have actually made contingency plans involving a possible catastrophic scenario.Liberals just worry about their government check being late,let alone not coming.Incidentally,you might want to stock up on fuel and antibiotics.
Liberals also refuse to admit that a collapse is possible. Be it a government problem, a natural disastor, the wires in our electrical grid finally burning out or what, disruptions are inevitable and we should all prepare for a few days (at a minimum) of no power. Five days last year due to a tornado. It was hot but we still had food and water. Some didn't.
Bob,
I and a number of like minded co-workers are doing exactly what Mark is doing and I commend him for his efforts. Some of my neighbors don't think this way, they've called me a host of things like, "paranoid", "crazy", etc. The one word I would really hate and fear that they will call me is "right". Here is some food for thought, and I admit you might have to adjust the tinfoil hat a bit but, consider for a minute, how conincidental the timings of all the reported mass shootings, gun violence and upcoming gun control legislation. All at at time of extreme financial uncertainty, Obamacare, etc. Gun control that is purposely designed to limit or eliminate an armed civilian response through the use of gun (and probably, ammo) bans.
At the end of the day... I NEVER want to depend on the government to take care of my family. There are 5 areas of life that to me are essentials
Food
Water
Shelter
Security
Medical
The Food I have - along with old fashion non hybrid seeds
Water - I live close to 2 lakes and a small stream
Shelter - I live in the country and have a wood stove and lots of trees
Security - I am off the main road and have guns and ammo
Medical - I am retired military and my last 9 years I was a combat medic.
If a collapse/pandemic/power outage/etc happens - I am prepared...
If nothing happens - I keep going to work a and living a normal life...But I have the peace of mind that If we end up in another great depression or have another major pandemic like we did in the early 1900's... I can keep my family safe and feed....
I never want to hear "We are with the government and we are here to help!"
Awesome, Democrat Trash! You Did It! Tax Hikes and No Spending Cuts, with Plans to Increase Spending, in fact!
Success! Nice! We'll spend our way out of debt, just keep digging.
Big thumbs up. Thank you news media, too, for portraying this as the only reasonable thing to do. For a second there, it looked like we might do something drastic and cut a few pennies off the budget, but then the Democrats and media saved the day.
the only thing saved here was their vacation pay and days out golfing..
"ChestyPuller" you are literally full of the end product of a bull's rear end. For over thirty years (since the election of Ronald Reagan) REPUBLICANS have been spending like drunken sailors on liberty who party for a year with one week of pay. They not only ran up MASSIVE DEFICITS, they did so while deliberately defunding the government through Supply Side/NeoLiberal economics, deregulation and tax policies that favored Corporations and the Wealthy/Ultra-Wealthy at the expense of lower, lower middle and middle class America.
Then when Americans finally woke up and elected a Democratic president and for a very brief time a Democratic controlled Congress, REPUBLICANS suddenly became the party of "fiscal responsibility" and are now DEMANDING less government spending AND EVEN lower taxes. While totally ignoring the enormous role they played in creating this massive economic mess we currently have. So I will sum it up simply. "Chesty" put a sock in it.
buhbubhubhbubhbuh but what about pre 2007 but what about then?
Balanced budget in the 90's under Repub Congress
Dems ran Congress before 1995.
Dems have run the Senate since 2007. All of DC 2009-2010. The Presidency too, since 2009.
Buhbuhbuhbut what about the olden times? We can keep spending more because of back then, right?
So PROGRESSIVE4America
you are saying debt is bad but because the republicans made that mistake it is ok for the democrats to do the same thing...
NO!! I am saying that debt is not necessarily bad and in fact, America has been running deficits literally since this country was founded.
What I AM saying is that I am sick and tired of idiot conservatives who keep blaming the Democratic party for the fiscal mess we have today, while literally ignoring the Republican party and the CONSERVATIVE ECONOMIC POLICIES that were much more responsible for it. And research proves it.
Yea and since O-Abomination this government has spent more than all the presidents in our history put together as he only doubled, now almost tripled the debt in 4 years. Drug addicts are drug addicts and that's all we have in the government today. They have to have more and more for their fix. You should understand this addiction PFA, go spend your welfare check and get your fix. All tax payers hate this pig and the only reason he got in office, it's all bought and paid for criminal politics today. You want proof,,it's all over the net how his puppets made terror threats, his pastor calling for the slaughter of all people who are not black, terror threats made that if O-Abomination didn't win, blacks were going to riot in our cities and kill anyone white. This is criminal politics,, not American politics and when we finally charge this pig for treason, arming and bedding our enemies, I pray they hold all you idiots accountable for this countries triple debt that is coming again, the wars where our men and women will be killed by weapons this pig is supplying Egypt and other Muslim brotherhoods while making your children,, yes your children Mr. PFA who don't give one dam about America because if you did you wouldn't be so stupid, blind and deaf in all this O-Abomination upon our country..Fools love fools and idiots on welfare voted for the same, an idiot drug addict who needs more and more for his fix and over spending drug addiction.. period
I could care less who's fault it is.. I want it fixed...
Pointing fingers is not helping.
tell me what programs would you cut... can you name me 10 things that could be cut
i can easily name 10 things that could be cut. the problem is no real cuts will get done, as long as we have both republicans and democrats controlling our government. the time for a third party to gain power and take over our government is now. one made up of the average American citizen, that is not controlled by special interest money. only then will you start see anything getting done for the better.
we have so many bloated and redundant agencies with in our government that overlap and do the same thing. we could easily save a butt load of money by combining them into just one agency for starters. for example we have 5 different agencies that all over see food and drugs in our country, why not just put them all together, and streamline it.
Ahhhh but under the rules of your game, you're making Obama responsible for this mess instead of congress. Therfore, and I know your're gonna choke here, you have to make sure you give Clinton all the credit for a balanced budget.... :)
The only happy people are backstabbing Democrat's who can say "we won...we won" while jumping up-and-down crazily. It's all about beating the mean Republican's for them. Then they will realize nothing was really accomplished, and they were screwed too, but THEY WON! Yippee!!!
they only won because %60 are on welfare and food stamps and don't pay taxes..
Congress had 14 months to work on this. They ignored it until they were literally forced to put a small bandage on a gaping wound. And "Frank B-2350078" you can blame "backstabbing Democrats" all you want to, but the REALITY IS THE REPUBLICAN PARTY IS LARGELY AT FAULT HERE. Because they literally refused to compromise and refused to work with the Democratic party. THAT IS THE REALITY.
Progressive
I could not disagree with you more. First, define compromise. Is it compromise, or do you want to say republicans did not capitulate? There is a difference you know. Second, and this is only my opinion, the reason why republicans lost the election is that all the older, Greatest Generation and many of the Baby Bookers are quickly disappearing. These are the folks who generally adhered to the standards of self reliance, self responsibility, good work ethics, etc. These are the values that many Republican voters (for the record I am neither a republican, democrat or any political affiliation) stand for and these values no longer resonate with todays youth. Today's voter is mostly concerned with what they can get with as little effort as possible. The true fault is the person in the mirror. We, the American people, keeping putting these idiots in to power and power does not like to be given up easily. We have only ourselves to blame and we need to stop deluding ourselves into thinking any politician gives a rats a$$ about any of use, they do not.
A proud moment for liberals as they beat the snot out of conservatives and will rejoice even more when they win the house back in 2014. I love Obama
Yea some slaves loved their masters, only when the master was screwing them in the ass like this one is butt screwing you and giving you more welfare for your services..
Remember...odumba is Santa Claus...hahahaha.
This is so funny about democrats. They think they claimed victory here, but they just solidified the Bush Tax cuts forever...FOREVER...You voted in a permanent tax code that Bush said would happen in 2003 when he said the goal was to make permanent tax cuts and your president just did that. You lost liberal, miserably and you will lose the spending cuts coming in two months as the Republicans showed the president they are not afraid to go over cliffs. In fact it was the President who freaked out yesterday early morning and sent Biden to cave in, Biden took the fall and had to compromise. The President in his speech yesterday said he would compromise from this day forward. Why would he say this, he knows he has no power now, that's why. The President is a lame duck.
And the can goes rollin' on down the road.
What's odd is that our politicians cannot see the forest for the trees. Until they can clean up their own house, it isn't going to matter what they do to try and clean up the country. The dirtiest dirt that needs to be dealt with congregates right there in Washington DC and they have made their filth so bad that voting sure isn't going to be a cleaning agent for a long time to come.
It is a self-interest congress! The self-interest of the rich and controlled by the rich! The "I want cheap labor", rich. The "I don't want to insure my workers" rich. The "I don't want to pay for welfare, social security taxes, medicare or medicaid taxes" rich. The "I don't want to pay the taxes for the public good (education, highways, airports, etc.)" rich. The "I love money but not my country" rich! And YOU voted for them!
sounds like chuck is writing a paper at high school for mid-term grade,chuck,i applaud your ficticious mind,i'll give you a-plus for a fictional mind.
I applaud your idiocy too, blinded by your Disney land ride, deaf to anything good and clean. Conform to anything sick and perverted. A good man who shows no favor, who can't guide his affairs with desecration. Men that are not even afraid of evil when it takes over. they fear nothing because they have turned to vain wisdom and greedy pride. Then his enemies engulf his house and he calls for help in vain,, These wicked men shall see it too, their lands taken and the bondage of slavery put around their necks as the foolish don't see, and the deaf idiots only complain and attack the truth when they can't fix the problem themselves with their wicked tongs..
Mikevietvet,
Have you ever heard this saying "evil men prevail when good men do nothing". Chuck is absolutely correct (though I would not have used his choice of words). If you are a Vietnam vet as your name suggests (and I highly doubt it) you should recognize the dangers of one man having so much influence (cult of personality) as does Obama. I hope the OP was just trolling, if not, his ramblings sound like those of a North Korean.
These threads or social browsing is amusement and a time for me to relax...my future is set, I have seen to that.