(The Blaze) The United States does not have a spending problem–at least President Obama reportedly doesn’t believe so, telling House Speaker John Boehner, during recent negotiations regarding the ‘fiscal cliff’ at the White House—Yes, Boehner was shocked to hear those words from Obama given our $16.4+ Trillion out of control, runaway federal deficit.
Archive for the ‘Budget Crisis’ Category
Moody’s Says ‘Fiscal Cliff” Deal Insufficient, More Action Necessary to Avoid Credit Downgrade
Thursday, January 3rd, 2013
Obama’s Watch: Credit Downgrade –Asian Conservatives
(The Hill) Moody’s Investor Service announced today the the compromise to avoid the fiscal cliff is not enough to protect the nations credit rating from a credit downgrade.
On the 05 August, 2011 I wrote here that Standard & Poors announced that they had downgraded the U.S. credit rating for the first time in its history.
In September, Zero Hedge reported federal spending was 102.4% of GDP
We are becoming Greece.
GOP House Vote on $4 Trillion ‘Fiscal Cliff’ Boondoggle Violated 3 Day Pledge to Read the Bill
Wednesday, January 2nd, 2013
Fiscal Cliff Deal–The Sad Truth –Judge Andrew Napolitano
(CNS News) Democrat-Socialist/Progressive controlled Senate voted 88-9 to approve the Fiscal Cliff boondoggle which they had all but three minutes to read, before paving the way to add $4 Trillion to our out of control federal budget deficit.
The GOP House of Representatives violated their pledge to voters to make the bill available to the public for three days before it would be voted on.
Republicans promise…that they will be principled (next time) and will keep their pledge to reign in spending when the debt ceiling showdown takes place next month.
Riiight…
You Failed Speaker Boehner, Time For You To Go
Tuesday, January 1st, 2013
Its Time to Step Down House Speaker John Boehner
(FOX News) At the end of the day, 85 RINO’s joined 172 Democrat/Socialists to pass the Senate Fiscal Cliff bill 257-167 which provides tax credits to such things as:
- Puerto Rico & U.S. Virgin Islands Rum;
- 2 and 3 Wheel Electric Vehicles;
- Obama’s Green Energy Initiative of Biofuels;
- Extension of ‘Special Rules’ for the Film & Television Industries;
- Extension of 7 Yr Tax Credit for Motorsports Entertainment;
- Help for Asparagus Farmers
More here from Business Insider
Related: Congress Gives Hollywood Tax Incentive Extension –Breitbart
After Fiscal Win, Obama Warns Congress on Debt Fight –Reuters
Senate OKs Tax Hikes in Fiscal Cliff Gimmick 89-8
Tuesday, January 1st, 2013
(Market Watch) With the help of Senate RINO’s lawmakers passed a bill early this morning that raises taxes on job creators, increases capital gains taxes and delays any real spending cuts for two more months.
In 2011, Conservative political columnist Pat Buchanan writes in his column entitled An Establishment in Panic “…What school of economic thought–Keynesian, Supply-Side or Monetarist says raising taxes in a slumping economy is the recipe for a return to prosperity? There is no such school. Why, when the whole country is talking about the need to create jobs, would Congress raise taxes on a private productive sector that employs six in seven Americans and is the creator of real jobs.”
With $1 Trillion of New ObamaCare Taxes taking effect today (who knows what black hole will swallow up that money) how is it that raising even more taxes in an anemic economy is going to create even a single job and open the flood gates for new business development and economic expansion?
Senate RINO’s Cave On Real Fiscal Cliff Deal
Monday, December 31st, 2012
Happy New Year 2013 Fiscal Cliff –The Veritas Report
(Washington Times) Senate Minority Leader Mitch McConnell, (R-KY) and VP Joe Biden appear to have worked out some kind of deal to avert the so called fiscal cliff by agreeing to raise taxes on job creators (individuals earning more than $400,000 and families with incomes over $450,000) extending a number of programs from Obamas 2009 failed stimulus law to continuing Obama’s green energy fiasco, without tackling our out of control $16.4 Trillion+ debt crisis with any real spending cuts.
How does kicking the proverbial can down the road again for yet another day and another time avert a looming economic national disaster?
Where is the leadership?
Related: Sen Rand Paul Slams ‘Spending Bill’ Fiscal Cliff Deal –Politico
Obama Signs Executive Order Providing Members of Congress a Pay Raise for Not Doing Their Jobs
Friday, December 28th, 2012
Senate Majority Leader Reid Abrogates Constitutional Duty -Blacksphere
(Weekly Standard) President Obama issued an executive order to end the pay-freeze on federal workers which has the effect of giving VP Joe Biden and Members of Congress that refuse to do their jobs a pay raise.
Related: Obama’s Hidden Tax–Continued Decline in After Tax Incomes
Over the Hill and Through the Woods to the Fiscal Cliff We Go…
Wednesday, December 26th, 2012
Obama’s Fiscal Cliff –Barracuda Brigade Girl
(Townhall) While most of the Dinosaur Media accounts of the fiscal cliff chaos have focused on Republicans few have adequately noted Democrats starring role in our current dysfunction.
A pre-Christmas Wall Street Journal article walks readers through the failed negotiations and two recurring themes are woven throughout: (1) Obama has zero interest in meaningful concessions on his end; (2) Obama is supremely confident in his ability to stick Republicans with the blame if the nations economy slides off the cliff.
Related: Over the Cliff We Go –Drudge/Reuters
Obama’s Watch: Fitch Ratings Warns U.S. of Imminent Credit Rating Downgrade
Wednesday, December 19th, 2012
The Collapse of the Dollar –AgoraFinancial/The Veritas Report
(Christian Science Monitor) Fitch Ratings, a leading credit rating agency warned today, that the U.S. is likely to lose its top-notch credit rating if lawmakers and President Obama, cannot agree to a solution that prevents the economy from going over the “fiscal cliff” in 13 days.
On the 05 August, 2011 I wrote here that Standard & Poors announced that they cut the U.S. credit rating for the first time in history from AAA to AA+ because the so called deficit reduction plan passed by Congress did not go nearly far enough to stabilize the nation’s debt situation which now exceeds $16.3 Trillion and growing by $4.8 Billion per day.
Speaker Boehner Caves, Now Endorses Pelosi’s “Plan B” to Avoid Fiscal Cliff
Tuesday, December 18th, 2012
Rep’s Nancy Pelosi & Speaker John Boehner –Molly Ball/Twitter
(Buzz Feed) RINO House Speaker John Boehner (R-OH) bids against himself and the nation and now has endorsed Minority Leader Nancy Pelosi’s “Plan B” to avert the so called fiscal cliff by agreeing to raise taxes on job creators on top of all the egregious ObamaCare Tax Hikes scheduled to hit the economy in just 14 days.
Related: Conservative Caucus: This is a Trap –Sean Hannity/FOX News
The Bottom Line on Sequestration –CATO Institute