Seriously? Does anyone (other than partisan Democrats) really feel that our government can move forward without some form of spending cuts?
According to the CBO the bill will add to our debt, not lower it.. and not by a trivial amount. According to their calculations, the bill adds nearly $400 billion in debt per year.
According to the Congressional Budget office, the package would add $3.6 trillion in red ink to the national balance sheet over 10 years, using current law (assuming everything expires as current law is now written) as the baseline.
More alarming is that the majority of the "new revenue" will not come from raising taxes on the "rich" as only 0.7% of households will be effected by raising the top tax rate by a little more than 4%. Where the "new revenue:" comes from will be from a nearly across the board 2% increase in our payroll taxes... an increase that effects 77% of all households.
Bottom line is that this entire fiscal cliff deal was about politics. It was about who was going to take the blame if the automatic tax increases and spending cuts were enacted. It was about the rank and file GOP being more worried about politics than standing by their principles. There is no way that any sort of agreement should have taken place that did not spell out spending cuts that at least match the increased revenue. There isn't a poll out there that suggests this (all revenue and no cuts) was what the public wanted.
We all should know by now that President Obama is no Bill Clinton. He has no intention of lowering the deficit as it runs contrary to his goal of expanding and increasing Government as a whole. Anyone who voted for him and didn't realize that they were voting for larger Government funded by larger deficits, simply wasn't paying attention, or engaging in a bit of cognitive dissonance. The only thing stopping him from doing so was a GOP House. Apparently they are too weak and ineffective to do so.
91 comments:
Seriously? Does anyone (other than partisan Democrats) really feel that our government can move forward without some form of spending cuts?
Just print more money
So much intense Republican anger has to mean the President and the Democrats did something very, very good.
Serious economists (not Cheerleader sell-side brokerage or Nobel prize winning LW mouthpieces) are scoring the next decade....and seeing the US economy growing, most optimistically, at 1.8 - 1.9%. Many are flat lining the economy...zerO growth.
The 3-D's will keep the US market in the secular bear market it is now a decade into...Debt, Deficit and Demography.
Clearly DC is going to do nothing regarding debt and deficit...they don't control demography or they fvck it up further as well. But the US is now at its lowest population growth rate ever even as more Boomers are entering retirement and needing the underlying Ponzi growth to support them.
As I have said a million times already, there is no good way out of the mess we are in. Kicking the can as DC inevitably does will make the endgame that much worse and hurt even more people in the meantime. The rich are NOT ones that will get hurt even with petty tax hikes on their income.
It is the consumer, the workers...the middle class...that will get hurt as usual. DC will continue to buy enough votes from the "takers" to assure more middle class pain.
My best ideas for the future, for my investment money, buy bonds of good corporations - maybe 10 year maturities and let them ride to the end. Protect yourself against the inevitable monetary inflation with gold and silver holdings. Otherwise, the buy and hold stock strategies are going to lose you money....PE compression will continue for a good while so the market will not make meaningful headway - while downside risk will outweigh upside.
Happy New Year...same as the old year from DC.
Whatever Liberals are in charge of...is fvct up.
http://lewrockwell.com/decoster/decoster198.html
and
http://lewrockwell.com/buchanan/buchanan289.html
We shall see. But the Republicans brought this on to themselves. And have no one else to blame.
Elections have consequences. And despite how many will want to spin this, Obama made enough concessions that this passed. The left is mad at him. And the right is mad at the Republicans.
But the bottom line on this is Obama took you to them cleaners.
And did you see, Boehner was so mad, he told Reid to go "fuck yourself" while in the West Wing of the White House, twice?
$4 Trillion more added debt, Obama Managing the decline of the USA.
Forward
Filed Under:Whatta bunch of bull$hit.
Why do you hate America?
https://sphotos-a.xx.fbcdn.net/hphotos-prn1/582460_492051074180759_1418808799_n.png
Couldn't have written a better headline myself:
Fiscal Cliff Deal Passes as House GOP CLOWN CAR CRASHES, AGAIN
http://www.nationalmemo.com/fiscal-deal-passes-as-house-gop-clown-car-crashes-again/
They folded, folded, folded, folded, folded, folded... etc.
and the credit ratings agencies will downgrade, downgrade, downgrade....etc
YEA JAMES AND HB...YOU WON!!!! You won a piss poor future for the workers, retirees, poor, middle class and anyone that isn't a parasite. Congrats.
I know you have no fvcking understanding at all of how the economy and markets work...but please, james and hb....explain to us all as best as you are capable how you see even higher deficits, even higher taxes, even higher borrowing costs...as a WIN! And how this is good for the US?
anticipating *crickets*...now.
Whatta, edjumificate yourself.
Hb and I aren't the only ones saying this was and is good for America... Happy New Year.
Chuck Todd: "GOP debacle"
Morning Joe (Scarborough): Could the GOP have mismanaged this any worse?
INSIDE THE FISCAL CLIFF SAGA
National Journal has a great tick tock of the fiscal cliff deliberations.
"This is the story of Plan O - the congressional Republicans' failed attempt to meet the challenge of Obama's victory. It begins in September and ends in the fiasco of the Christmas season, when the speaker was repudiated by his own troops and had to pull his last, desperate solution from the House floor, leaving Senate Republican Leader Mitch McConnell to cut the best deal he could with dramatically diminished leverage."
"In the end, despite all the planning and forethought, Boehner would stand almost helplessly by as the nation plunged off the fiscal cliff, and a bipartisan coalition of Democrats and centrist Republicans voted to give Obama the big tax hikes he demanded on the wealthy. House Republicans saw the worst of all worlds: they failed to save tax cuts for the wealthiest Americans, put no new checks on government spending, and showed themselves a fractious and disorganized opposition party, the governance of which in the new Congress will prove to be a serious test."
_______________
Couldn't happen to a more deserving bunch...
:-) The Happy New Year is starting out right.
Clearly DC is going to do nothing regarding debt and deficit...they don't control demography or they fvck it up further as well. But the US is now at its lowest population growth rate ever even as more Boomers are entering retirement and needing the underlying Ponzi growth to support them."
HB and James never debate, you will never get them to debate, they just cut paste insult and act as if they are better.
As for this question, it is beyond their collective abilities.
james and hb....explain to us all as best as you are capable how you see even higher deficits, even higher taxes, even higher borrowing costs...as a WIN! And how this is good for the US?
anticipating *crickets*...now.
10:44 AM"
yep, see when real questions are asked of those two, they turn to dust in the wind and just blow away.
They will return, not to answer but to claim some kind of multi-Trillion dollar new debt Victory.
http://davidthompson.typepad.com/davidthompson/2013/01/the-agonies-of-the-left-an-ocean-of-tears.html
Go to white house dot gov.
See the President's excellent message for the New Year.
I will put this simply. CH is correct to a point. Obama is going to use government. The reason is the nation has moved to the left and no longer has the deep distrust it had in the past. But that does not mean a huge socialist state. We have an aging population. They will need access to medical care. And that means one of two things. Deficits or increased revenues. The Ryan plan is dead.
But this is a temporary issue. A demographic bubble. The baby boomers will not be here forever. But they are not going to be given vouchers and let lose in the market. So we gotta pay the bills. With increased revenues, cuts in discretionary spending, like defense, and reasonable action on entitlements we can do that.
But the tea party Republicans have made reasonable compromise a dirty word. It is not. We are not enemies of freedom as you loons so often claim. And that it's a problem only Republicans can deal with. And until they do, gridlock and the kind of bs we have seen over the last week will continue.
More later.
The Happy New Year is starting out right> James the Economist
Ok, this is the new normal
1, 7.8 unemployment
2, Lower US Bond Rating
3, Obama care 1 Trillion dollar taxes are being extracted started for real on Jan 1,2013
4, 4 Trillion in new Debt added overnight under the BIG WIN of Plan Obama/Ried/polosi
I love the details of "Obama the big tax hikes he demanded on the wealthy"
Tell us how moving from those making 250 k a year up to 450 k a year is going to bring in the money you socialist need to PAYGO?
So the conservative faction of the blog have already given up on spending cuts during the upcoming debt ceiling hostage negotiations?
If the House Republicans had come up with a rational proposal instead of punting to the Senate, they wouldn't have had to hold their noses on this vote.
What a joke, the reason SS is going broke at such a high rate is because those that paid in their entire work life are now getting payouts, that was the design all along.
Less the going broke part.
Get ready for a new O Plan,, one that includes more punishment of achievement and life long thrift, it has a name, it is called "means testing".
More later. " HB
Given the nothingness other then the anger, more is a very low bar.
You could start with how much lower the yearly deficit will be in 2013 then it was at the end of 2012 fiscal year.
A good Obama Christmas tale for james:
"The villagers who rushed to the road, cutting through rocky fields in central Yemen, found the dead strewn around a burning sport utility vehicle. The bodies were dusted with white powder — flour and sugar, the witnesses said — that the victims were bringing home from market when the [drone] aircraft attacked. A torched woman clutched her daughter in a lifeless embrace. Four severed heads littered the pavement.
"The bodies were charred like coal. I could not recognize the faces," said Ahmed al-Sabooli, 22, a farmer whose parents and 10-year-old sister were among the dead. "Then I recognized my mother because she was still holding my sister in her lap. That is when I cried."
"...anonymous officials of the government of the United States admitted that the brutal mass murder of 12 innocent civilians (three of whom were children) was carried out by “a Defense Department aircraft, either a drone or a fixed-wing airplane.”
Happy New Year too...at least you made the rich pay more tax!!!
Any man who thinks he can be happy and prosperous by letting the American Government take care of him; better take a closer look at the American Indian.
Those making over 450,000 (obama folded like a cheap walmart lawn chair) will bring in far less then expected.
Three companies have already addressed this with their top management (top earners). Extending deferred comp matching of 401 K to out years, contractual changes and in return the income earner makes less "reportable income" and pays the lower rates.
No one is going to stand for this Federal Robbery of earned wealth.
Buffet fired 65 people over the last week, reason, health care cost rising and those workers are,,,, (((clears throat))) were hurting profits.
With increased revenues" HB
Love to see the details, yes rates went up, you act as if those that earn the most are just going to remain static and pay the higher rates.
I know many earners in this group, their Plan A, is simple avoid earning that much by restructuring income.
$450,000 make up less then 3/10th of one percent of income earners.
Plan A, avoid taxation by parking money.
"Capital gains and dividend taxes for households earning over $450,000 will rise from 15% to 20%. This income will also be hit with the 3.8% surcharge for Obamacare, so the full increase will be from 15% to 23.8%."
Remember the IRS Rules on Capital Gains, key word in the rules is "realized" Capital gain. It is only "realized" when it is paid out.
Taking money out of circulation by "parking it" until these tax rates drop again.
OR us other tax laws to shelter, pass thru or avoid the rates.
CPA's and income tax lawyers are going to have a great 2013.
Obama and the Democrats are laughing at the deal they just made...the Republicans got nothing!
--Donald Trump
Two points. No one responds to your questions k'putz for one reason. They are not legitimate questions. Now onto a real problem.
The house did not take up the Sandy relief bill. Christie is bashing the leadership as he should. The klown kar kontinues.
"The house did not take up the Sandy relief bill."
good.
most of those "victims" are democrats anyway.
let them suffer, let them starve, let it burn.
"Christie is bashing the leadership as he should."
captain lardass should've thought about that before he had to have his lips surgically removed from dear leader's ass.
- rrb
LOL,they are past your understanding of Economics, just keep being the no-info voter we know your are.
You HB, you said that increased revenues is part of the Plan 0, but now your epic failure to tell us how much you expect that increase to be is telling, goes hand in glove with your continue dodging of a topic you brought up, the signification lower yearly deficits by 2016. Now much lower, will it be as low as 1/2 as Plan O promised by the end of this term?
"Construction spending declined 0.3 percent, following a 0.7 percent gain the month before. Market expectations were for a 0.6 percent gain."
Obama during the election wanted to transfer 800 billion from the earners to the slavery-class no-info voters.
After the election he drew his line in the sand at 1.2 Trillion in new taxes .
He was brow beaten down to changes are expected to raise about $600 billion in new revenue over 10 years .
Yet, his Plan O now adds 4 Trillion in new Debt over that same time period.
Lies by the Lyin King and Maxine Waters on CNBC.
They say it was a win for the middle class???
How is a tax increase and its subsequent drag on GDP a win?
How is the wealth effect of today's market rise (on the news) helping the average middle classer with a net worth of less than 50K?
Still waiting on james and hb to answer my economic question above.
Still waiting on james and hb to answer my economic question above."
you question is above their nO-information minds.
What they know is Obama won, he won the addition of 4 Trillion in new debt to the 8 trillion he has already booked and now that Debt ceiling thingy is coming up, I say , give the ONE all he wants.
Every freaking last dime. Did unemployment ever get near 5.7 percent in this term, darn Plan O is one funny guy.
""" now that Debt ceiling thingy is coming up, I say , give the ONE all he wants.
Every freaking last dime."""
I agree...the DC crowd is not going to do anything to reduce spending and taxes on the rich don't even make a dent. So, lets break out the Guy Fawkes masks and/or "go Galt" and watch as the idiots crash this thing.
http://usnews.nbcnews.com/_news/2013/01/02/16304049-shame-on-you-congress-republicans-in-sandy-hit-areas-blast-house-gop-for-delay-on-relief?lite
O Gee, Disarray in the GOP.
Why are we not surprised?
Whatta, the problem with HB/Jane and other Socialist is they are the nO-info voter.
They never explained what that hopey/changey thingy was
Nor did they explain the old re-duo FORWARD.
Low IQ's and no-info makes up the vast majority of the Obamabots.
Look at the questions of today put to those two, real question based upon the topics they brought to this blog, and as predicted they both decided to turn in to Jiminy.
Just try to get HB to stop his SS checks that he depends upon to help his fellow man, he will never do it.
Opium told us he was working a 6 Billion dollar deal and since he has dodged all question about it.
"""Look at the questions of today put to those two, real question based upon the topics they brought to this blog, and as predicted they both decided to turn in to Jiminy."""
Yep..LOL...my guess is the two of them are out celebrating spiking the ball on the kids of tomorrow's future. Even some of the press and some libs thought zerO fvct the country:
"Cliff deal is another pain-free punt
... the White House to do less than promised — and to ask Americans for little sacrifice — in confronting the nation's burgeoning debt.
The deal will generate $600 billion in new revenue over 10 years, less than half the amount President Barack Obama first called for. It will raise income tax rates only on the very rich, despite Obama's campaign for broader increases.
It puts off the toughest decisions about spending cuts for military and domestic programs, including Medicare and Social Security. And it does nothing to mitigate the looming partisan showdown on the debt ceiling, which must rise soon to avoid default on U.S. loans.
In short, the deal reached between Obama and congressional Republicans continues to let Americans enjoy relatively high levels of government service at low levels of taxation. The only way that's possible, of course, is through heavy borrowing, which future generations will inherit.
...AFL-CIO President Richard Trumka praised elements of the deal. But he said that in postponing $1.2 trillion in spending cuts over 10 years, and leaving the debt ceiling unresolved, it is "setting the stage for more fiscal blackmail."
Plan O, does raise a host of taxes upon the Middle/lower income people.
Here are two.
1, 2 % increase in payroll taxes
2, Limiting HBA's to only $2,500 a year per family.
Many are flat lining the economy."
Which seems a whole lotta better than what busch left behind!
Chuckle
and the credit ratings agencies will downgrade, downgrade, downgrade....etc"
Only if your republicons tie it into something else. It is a no brainer....You would figure the R's would have learned last go around. Too stupid for words.
captain lardass should've thought about that before he had to have his lips surgically removed from dear leader's ass.
- rrb
The NY asshole arrives! Ya know what, I could vote for Christie because he puts jerks like you where they belong.....in the crapper.
Chuckle
Which seems a whole lotta better than what busch left behind!
You mean the Bush tax cuts Obama just made permanent for 98% of the taxpayers?
You mean the Bush tax cuts Obama just made permanent for 98% of the taxpayers?"
Yep..the cuts that caused your .6% growth and a 4 year recession.....Weren't those cuts supposed to keep the economy robust? Wonder what happened.
Chuckle
The markets HATED the Obama victory.
The Dow Jones Industrial Average gained roughly 308 points, or 2.4%. All 30 Dow stocks showed solid gains.
The S&P 500 rose 2.5%, while the Nasdaq spiked 3.1%. The market finished the day near its highs. Both the S&P 500 and Nasdaq posted their largest percentage increases since late 2011.
whatta said.
james and hb....explain to us all as best as you are capable how you see even higher deficits, even higher taxes, even higher borrowing costs...as a WIN! And how this is good for the US?
anticipating .crickets*...now.
10:44 AM"
as predicted the two nO-info voters could not cobble together an answer to a straight forward honest question.
4 Trillion on top of 7 Trillion in his first four years and now the Obamacare Taxes are taking hold of the Economy, running out of OPM.
You mean the Bush tax cuts Obama just made permanent for 98% of the taxpayers"
wrong on the issue and the facts.
The Obama permanent tax rates Effect 99.7 percent of tax payers.
However, the 2 % tax hike on payroll taxes effect 100 % of those earning a living and making under, yes under 110 K.
The House of Representatives will vote on some Hurricane Sandy aid Friday, but the bulk of the $60 billion aid package will not come up until Jan 15.
rrb will be pissed.
The Boehner has apologized.
hb
The funny thing is, there is nothing permanent in DC. Including the teatards.
hb
. Including the tetrads"
LOL especially the tetrads!
whatta said.
james and hb....explain to us all as best as you are capable how you see even higher deficits, even higher taxes, even higher borrowing costs...as a WIN! And how this is good for the US?
anticipating .crickets*...now.
Opium, you seem to think this O Plan is good for the nation, can you answer the above question, HB and James can't.
Cool factoid for the tards, especially the armed albanian....Chucklre
NOUS41 KBTV 012154
PNSBTV
NYZ026>031-034-035-087-VTZ001>012-016>019-020200-
PUBLIC INFORMATION STATEMENT
NATIONAL WEATHER SERVICE BURLINGTON VT
454 PM EST TUE JAN 1 2013
...2012 WAS THE WARMEST YEAR ON RECORD AT BURLINGTON VERMONT...
2012 WAS THE WARMEST YEAR ON RECORD AT BURLINGTON VERMONT...WITH A
HISTORICAL DATABASE DATING BACK TO 1884. THE YEARLY MEAN
TEMPERATURE WAS 50.0 DEGREES...OR 4.0 DEGREES ABOVE THE 1981-2010
AVERAGE OF 46.0 DEGREES. THIS BREAKS THE PREVIOUS YEARLY RECORD OF
48.4 DEGREES SET IN 1998. THE NEW TOP 5 ANNUAL MEAN TEMPERATURES
CAN BE SEEN BELOW:
1- 50.0 (2012)
2- 48.4 (1998)
3- 48.2 (2006)
4- 48.1 (2010)
5- 48.1 (1898)
$$
MUCCILLI
ble how you see even higher deficits,"
I see a leaderless group of imbeciles who turned down spending cuts despite their belief they were winning!!!. There will be cuts, but not the ones they want. Chuckle, WhAtter.
The House of Representatives will vote on some Hurricane Sandy aid Friday, but the bulk of the $60 billion aid package will not come up until Jan 15.
9 Billion on Friday. The true "emergency" amount.
The rest is just pork Reid stuffed into the bill.
Lot of red faces tonight after they shot their mouths off.
There will be cuts"
Doing stand up I see, not funny
Obama signed Ex order giving higher pay to 2 million Federal teat suckers, US House, voted NO.
Next debt limit should be taken to 27 Trillion and be done with it, give Obama this victory too.
As to the deficit. "Ronald Reagan Proved Deficits Don't Matter".
Dick Cheney.
hb
Looks like ayatollah olbermann could be getting his job back.
I knew the wingnuts would go ballistic over the sale of Current TV to Al Jazeera. I haven't checked Drudge, but I suspect he is in high dungeon.
hb
Barack Obama is the first president since Eisenhower to win with 51 percent of the vote twice.
Republipundits from Dick Morris to George Will look like fools.
hb
Thiu shalt not differ with Darth Cheney.
http://news.yahoo.com/al-jazeera-buys-current-tv-al-gore-002839067--finance.html;_ylt=A2KJ3CcpBOVQSw0AGOhEDex_
rrb quit hiding, coward.
Inshallah
Iranian officials have instructed residents of Isfahan to leave the city, renewing concerns that a nearby nuclear site could be leaking radioactive material.
An edict issued Wednesday by Iranian authorities orders Isfahan’s one-and-a-half million people to leave the city “because pollution has now reached emergency levels,” the BBC reported.
However, outside observers suspect that the evacuation order may corroborate previous reports indicating that a uranium enrichment facility near Isfahan had been leaking radioactive material.
Tehran went to great lengths in December to deny these reports, telling state-run media outlets that “the rumors about leaking and contamination at Isfahan’s [Uranium Conversion Facility] are not true at all.”
http://freebeacon.com/iran-to-citizens-flee-isfahan/
Al Jazeera did not disclose the purchase price, but people with direct knowledge of the deal pegged it at around $500 million, indicating a $100 million payout for Mr. Gore, who owned 20 percent of Current. Mr. Gore and his partners were eager to complete the deal by Dec. 31, lest it be subject to higher tax rates that took effect on Jan. 1, according to several people who insisted on anonymity because they were not authorized to speak publicly. But the deal was not signed until Wednesday.
http://mediadecoder.blogs.nytimes.com/2013/01/02/al-jazeera-said-to-be-acquiring-current-tv/?smid=tw-share
Just get Gore to regrow his beard, put on a bed sheet and start bonking his head on the ground 5 times a day
This state cannot be funded by taxing “the rich.” Or even by higher income taxes on the middle class. Income taxes cannot fund the government liberals want, and they dare not seek the consumption and energy taxes their entitlement architecture requires. Hence, although Republicans are complicit, Democrats are ardent in embracing decadent democracy. This consists not just of infantilism — refusing to will the means for the ends one has willed — but also of willing an immoral means: conscripting the wealth of future generations.
As economists Glenn Hubbard and Tim Kane explain in National Affairs quarterly, the U.S. political system “cannot govern the entitlement state” that “exists largely to provide material benefits to individuals.” Piling up unsustainable entitlement promises — particularly, enactment of Medicare in 1965 and the enrichment of Social Security benefits in 1972 — has been improvident for the nation but rational for the political class. The promised expenditures, far in excess of revenue, would come due “beyond the horizon of political consequences.”
http://www.washingtonpost.com/opinions/george-will-our-decadent-democracy/2013/01/02/90dac36c-5477-11e2-bf3e-76c0a789346f_story.html
Funny Tweet:
Byron York @ByronYork
Glenn Beck's TheBlaze tried to buy Current TV. Current said no, we want buyer 'aligned with our point of view.' So they sold to Al Jazeera.
So Gore is a Jihadist?
whatta said.
james and hb....explain to us all as best as you are capable how you see even higher deficits, even higher taxes, even higher borrowing costs...as a WIN! And how this is good for the US?
anticipating .crickets*...now.
Opium, you seem to think this O Plan is good for the nation, can you answer the above question, HB and James can't.
Best thing about the nO-information voter is that they are always stumped by questions as easy as the one Whatta posed.
Middle Class Families because of Obama/Ried/polosi will have to spend 2 k a year in new taxes and take that hard earned money away from College savings account.
Obama said this:“I can make a firm pledge. Under my plan no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.”
And when he raised taxes the slow minded weak nO-info voter just nodded in agreement.
Means Testing of SS, looks as though the Socialist are going FORWARD.
George "Romney in a landslide " Will.
The Free Beacon.
Yawn
hb
Forward as HB/Jane get proven daily to be less then real men here. The next issue is not IF the National Debt Ceiling will be raised, but, how much more debt Oblunder is going to be requesting.
Alaska is going rogue on climate change.
Defiant as ever, the state that gave rise to Sarah Palin is bucking the mainstream yet again: While global temperatures surge hotter and the ice-cap crumbles, the nation's icebox is getting even icier.
That may not be news to Alaskans coping with another round of 50-below during the coldest winter in two decades, or to the mariners locked out of the Bering Sea this spring by record ice growth.
Then again, it might. The 49th state has long been labeled one of the fastest-warming spots on the planet. But that's so 20th Century.
In the first decade since 2000, the 49th state cooled 2.4 degrees Fahrenheit.
http://www.alaskadispatch.com/article/forget-global-warming-alaska-headed-ice-age
Oh it gets better for me, worse for you socialist. I do hope you did a great job during your work life security your income out side of the payments you made that you thought were going to be there when/IF you retire.
Not only is SS on the table for means testing, but this further testing is now in play, Forward ya'll.
Two leading Senate Democrats Dec. 4 endorsed expanded means testing for some recipients of Medicare benefits, as part of a comprehensive deficit reduction plan.
In separate comments, Richard J. Durbin (D-Ill.), the Senate Democratic whip, and Max Baucus (D-Mont.), chairman of the Senate Finance Committee...
Oh man i do love the cannibalism of the left.
..... many details still needed to be filled in, and that the president was dug in at $1.2 trillion in revenue, more than Republicans wanted.
Obama, according to Senate Majority Leader Harry Reid (D-Nev.), had previously told fiscal cliff negotiators that "Social Security is not going to be part of this." That turned out to be a false assertion, given Monday's offer to target the elderly. The proposed Social Security reform is known as "chained CPI" and is an alternate measure of inflation that accounts for the way consumers react to higher prices by switching to similar products that are less costly. "
The details of Plan O are trickling out, so we know now that the way SS payouts will be calculated is to use a method that will result in lower payouts.
This O Plan is wonderful for me to watch. Obama raises taxed by 2 percent on 100 percent of those that pay SS payroll taxes and, oh baby this is good, and those that have retired thinking that the US SS Checks going FORWARD were protected find out again, that they simply are not. Those of you that are/have payed into SS your entire life are finding out you have zerO claim to that money.
FDR made damn sure of that.
Speaking of folding like a cheap lawn chair, the Gators sure played like they were hung over (which they probably were) in being trounce by Louisville.
Give the Cardinals credit, they came to play, the Gators didn't.
They replaced Miss State in the SEC hall of shame this year.
Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 372,000, the Labor Department said on Thursday. The prior week's figure was revised to show 12,000 more applications than previously reported.
Al Jazeera English (which already exists) is often more objective in its reporting than most other news sources, including American ones, and certainly more objective than *snicker snicker* Glenn Beck.
Back in Hawaii, enjoying the nice warm, Obama signed the Fiscal Cliff bill.
Jihadists stick together.
Obama's success...
"Yesterday we had a nice rally in the equity markets. No surprise; the sigh of relief was palpable that Congress did something, anything to address our fall over the cliff. I would not get too excited however. We raised taxes, we penalized those succeeding and we did it in a meaningful manner. We did not cut the national debt as sung by the chorus across the airwaves. In fact, according to the Congressional Budget Office we decreased revenues by $3.6 trillion over ten years. We did not protect the middle class, but because of the expiration of the payroll tax decrease, Federal taxes will rise for 77% of all working Americans. Thus we rewarded non-working Americans at the expense of those with jobs. The game was the continuation of postponement and avoidance and reckless governance of the nation."
Yes, that james and hb bob their heads (on 0.2's groin) in approval of this success is no surprise.
Got clue?
yep
http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/12-2/US%20Congress.jpg
FOR THOSE OF YOU WHO WANT TO READ A REAL BLOG
Lots of important stuff at politicalwire.com.
Plus the exciting fact that Taeggan Goddard is starting up a new blog.
*snicker* Recently traitor Hillary Clinton, Sec. of State, said that Al Jazeera is listened to by much of the world and held in greater credibility than our own sources.
Maybe a little completition in our own countery will prove helpful.
By the way, do you know how many people listen to Fox News? On a very, very good day, like just before an election, about four million. That leaves ca. 311 million who are listening to other sources.
*competition
http://m.nbcnews.com/business/economywatch/businesses-added-215-000-jobs-dec-survey-shows-1B7812002
215,000
New thread. Where Ch needs help.
robot signs bill into law.
Obama 7 million dollar tax paid vacation after raising taxes on 100 % of those in the middle/low income, hell ya he deserve a vacation.
Unexpectedly said...
Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 372,000, the Labor Department said on Thursday. The prior week's figure was revised to show 12,000 more applications than previously reported."
The reason that payroll taxes were first reduced by the ONE was because his Economy needed further stimulation. Now that 100 % of the working class is being taxed at a 2 % higher rate must mean that his Economy is strong.
GM shares were sold at a huge loss to the US Tax payers (UAW BIG windfall $$$$) , what did the US Treasury do with the money from the sale of that stock?
HB and JANE know, i am sure of it.
Al Jazeera English (which already exists) is often more objective in its reporting than most other news source
Meaning it's more pro-Arab and anti-Semitic than your average news source.
Thanks for playing.
Interesting that jihad James thinks al gorzeera is objective.
Anti-Semitics always stick together.
In the first decade since 2000, the 49th state cooled 2.4 degrees Fahrenheit."
Keep to insurance UGA boy, science and you don't mix!
I guess the irrelevant statistic that the lower 48 had its hottest year ever is just as germane as what the dumbass alaskans claim is a trend.
Chuckle
let them suffer, let them starve, let it burn.
"Christie is bashing the leadership as he should."
captain lardass should've thought about that before he had to have his lips surgically removed from dear leader's ass.
- rrb
What a fucking douchbag. If you only had a brain.
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