CKA Forums
Login 
canadian forums
bottom
 
 
Canadian Forums

Author Topic Options
Offline
CKA Uber
CKA Uber


GROUP_AVATAR
User avatar
Profile
Posts: 18335
PostPosted: Wed Jan 02, 2013 11:09 am
 


Quote:
WASHINGTON (Reuters) - President Barack Obama and congressional Republicans looked ahead on Wednesday toward the next round of even bigger budget fights after reaching a hard-fought "fiscal cliff" deal that narrowly averted potentially devastating tax hikes and spending cuts.

The agreement, approved late on Tuesday by the Republican-led House of Representatives after a bitter political struggle, was a victory for Obama, who had won re-election on a promise to address budget woes in part by raising taxes on the wealthiest Americans.

But it set up political showdowns over the next two months on spending cuts and on raising the nation's limit on borrowing. Republicans, angry the deal did little to curb the federal deficit, promised to use the debt ceiling debate to win deep spending cuts next time.

"Our opportunity here is on the debt ceiling," Republican Senator Pat Toomey of Pennsylvania said on MSNBC, adding Republicans would have the political leverage against Obama in that debate. "We Republicans need to be willing to tolerate a temporary, partial government shutdown, which is what that could mean."

Republicans, who acknowledged they had lost the fiscal cliff fight by agreeing to raise taxes on the wealthy without gaining much in return, vowed the next deal would have to include significant cuts in government benefit programs like Medicare and Medicaid health care for retirees and the poor that were the biggest drivers of federal debt.

"This is going to be much uglier to me than the tax issue ... this is going to be about entitlement reform," Republican Senator Bob Corker of Tennessee said on CNBC.

"This is the debate that's going to be far more serious. Hopefully, now that we have this other piece behind us - hopefully - we'll deal in a real way with the kinds of things our nation needs to face," he said.

Obama urged "a little less drama" when the Congress and White House next address thorny fiscal issues like the government's rapidly mounting $16 trillion debt load.

The fiscal cliff showdown had worried businesses and financial markets, and U.S. stocks soared at the opening after lawmakers agreed to the deal.

The Dow Jones industrial average surged 262.45 points, or 2.00 percent, at 13,366.59. The Standard & Poor's 500 Index was up 29.79 points, or 2.09 percent, at 1,455.98. The Nasdaq Composite Index was up 77.45 points, or 2.57 percent, at 3,096.97.

The crisis ended when dozens of Republicans in the House of Representatives buckled and backed a bill passed by the Democratic-controlled Senate that hiked taxes on households earning more than $450,000 annually. Spending cuts of $109 billion in military and domestic programs were delayed only for two months.

Economists had warned the fiscal cliff of across-the-board tax hikes and spending cuts would have punched a $600 billion hole in the economy this year and threatened to send the country back into recession.

RELUCTANT REPUBLICANS

House Republicans had mounted a late effort to add hundreds of billions of dollars in spending cuts to the package and spark a confrontation with the Senate, but it failed.

In the end, they reluctantly approved the Senate bill by a bipartisan vote of 257 to 167 and sent it on to Obama to sign into law. "We are ensuring that taxes aren't increased on 99 percent of our fellow Americans," said Republican Representative David Dreier of California.

The vote underlined the precarious position of House Speaker John Boehner, who will ask his Republicans to re-elect him as speaker on Thursday when a new Congress is sworn in. Boehner backed the bill but most House Republicans, including his top lieutenants, voted against it.

The speaker had sought to negotiate a "grand bargain" with Obama to overhaul the U.S. tax code and rein in health and retirement programs that will balloon in coming decades as the population ages.

But Boehner could not unite his members behind an alternative to Obama's tax measures.

Income tax rates will now rise on individuals earning more than $400,000 and families earning more than $450,000 per year, and the amount of deductions they can take to lower their tax bill will be limited.

Low temporary rates that have been in place for the past decade will be made permanent for less-affluent taxpayers, along with a range of targeted tax breaks put in place to fight the 2009 economic downturn.

However, workers will see up to $2,000 more taken out of their paychecks annually with the expiration of a temporary payroll tax cut.

The non-partisan Congressional Budget Office said the bill will increase budget deficits by nearly $4 trillion over the coming 10 years, compared to the budget savings that would occur if the extreme measures of the cliff were to kick in.

But the measure will actually save $650 billion during that time period when measured against the tax and spending policies that were in effect on Monday, according to the Committee for a Responsible Federal Budget, an independent group that has pushed for more aggressive deficit savings.


http://ca.news.yahoo.com/house-republic ... iness.html


Offline
CKA Uber
CKA Uber
User avatar
Profile
Posts: 23217

Warnings: (20%)
PostPosted: Wed Jan 02, 2013 11:13 am
 


So the Repubs weren't OK with somebody making 250k paying more in income taxes, but had no problem letting the average worker pay more in payroll taxes. As usual, stick it to the little guy.

The lever the Dems will have in the cutting govt spending negotiations is cutting military spending - the Repubs will have to give on that if they want entitlements cut. Not the best way to do things, but better than nothing.


Offline
CKA Uber
CKA Uber
User avatar
Profile
Posts: 50669
PostPosted: Wed Jan 02, 2013 11:19 am
 


The Repubs also do not care about the victims of Sandy.


Offline
CKA Uber
CKA Uber
User avatar
Profile
Posts: 23217

Warnings: (20%)
PostPosted: Wed Jan 02, 2013 11:22 am
 


Well, God caused Sandy, let him take care of the victims. They were probably all gay anyway.


Offline
CKA Uber
CKA Uber
 San Jose Sharks


GROUP_AVATAR
User avatar
Profile
Posts: 41821
PostPosted: Wed Jan 02, 2013 12:30 pm
 


Brenda wrote:
The Repubs also do not care about the victims of Sandy.


:roll:


Offline
CKA Uber
CKA Uber
User avatar
Profile
Posts: 50669
PostPosted: Wed Jan 02, 2013 12:32 pm
 


BartSimpson wrote:
Brenda wrote:
The Repubs also do not care about the victims of Sandy.


:roll:

Really Bart? Did you pay attention?

Maybe you should listen to Chris Christie. He is right on the money. 66 damned days and there is STILL nothing done for CT, NJ and NY. Guess why? Because your beloved Boehner does not give a damn. Their internal and personal political games are FAR more important. THAT's why.

So here is to you: :roll:


Last edited by Brenda on Wed Jan 02, 2013 12:34 pm, edited 1 time in total.

Offline
CKA Uber
CKA Uber
 Vancouver Canucks
User avatar
Profile
Posts: 10150
PostPosted: Wed Jan 02, 2013 12:33 pm
 


It's no wonder why so many Americans ignore their Politics. Just constant unnecessary Drama Queenery instead of actual Problem Solving. It's like watching a bad version of Jersey Shore, if that were possible.


Offline
CKA Uber
CKA Uber
 San Jose Sharks


GROUP_AVATAR
User avatar
Profile
Posts: 41821
PostPosted: Wed Jan 02, 2013 12:34 pm
 


andyt wrote:
So the Repubs weren't OK with somebody making 250k paying more in income taxes, but had no problem letting the average worker pay more in payroll taxes. As usual, stick it to the little guy.

The lever the Dems will have in the cutting govt spending negotiations is cutting military spending - the Repubs will have to give on that if they want entitlements cut. Not the best way to do things, but better than nothing.


Personally, I was fine in letting tax rates roll back to what they were before the temporary and misguided Bush tax cuts. In particular, the cut in the Social Security tax was misguided because it reduce revenues to the program without reducing expenditures. All it did was kick the can down the road and make the long-term problem of funding Social Security worse than it already was.

This deal, which raises taxes against increases in new spending at a ratio of 41:1 is not even a decent tasting turd sandwich.

I can only hope that when Boehner comes up for re-election as Speaker that the Tea Party caucus stands their ground and kicks him to the curb just the same way he did to them last month.


Offline
CKA Uber
CKA Uber
 San Jose Sharks


GROUP_AVATAR
User avatar
Profile
Posts: 41821
PostPosted: Wed Jan 02, 2013 12:37 pm
 


Brenda wrote:
BartSimpson wrote:
Brenda wrote:
The Repubs also do not care about the victims of Sandy.


:roll:

Really Bart? Did you pay attention?



More than you.

http://www.policymic.com/articles/21010 ... l-spending

Quote:
President Obama has proposed an emergency relief bill that is intended to help with the ongoing Hurricane Sandy relief efforts. The bill, which comes to a tune of $60 billion, has endured increased criticism over the last few days — on account that roughly 20% of the bill's proposed allocations don't have much to do with storm relief..

In spite of much needed fiscal responsibility, it appears that the federal government will continue to spend taxpayer money like the words "fiscal cliff" are inconsequential. Although much of the East Coast is still recovering from Sandy, it seems that the president's bill may be more about increasing government spending than it is about helping Sandy victims — not to mention, that through already available government funds and private donations, it may not be needed at all.

The bill in question, among other things, provides $150 million for Alaskan fisheries and $8 million for the Department of Homeland Security and the Department of Justice to purchase new cars and equipment. Also, an additional $13 billion of the bill would go toward projects that are designed to prepare for future storms.

Although the bill's supposed intent is to provide emergency assistance, the Congressional Budget Office contests that only one-third of the money would be spent over the next 21 months — in turn lessening the emphasis on emergency relief. This raises brows to what exactly President Obama's true intentions are for the bill, especially when considering the timing and possible (although not likely) spending concessions that he'll have to make during the fiscal cliff negotiations.

The president has also forgotten to mention the fact that the Federal Emergency Management Agency seems to have quite a lot of money stocked up for emergency relief, about $7.8 billion as of October to be exact. Of which, $7 billion is available until March of 2013 and can be used to offset much of the proposed spending — if not all of it. That is, of course, if the government focused on needed spending, versus wanted spending.

In addition to federal money, the Sandy relief fund has also received nationwide support and charities have been inundated with donations. NBC alone brought in $23 million during their telethon for Hurricane Sandy victims, which looks like a mere drop in the bucket compared to the $117 million raised by the American Red Cross shortly before, during, and after Sandy made its way through the East Coast.

Between Obama's track record on government spending and outlandish proposals that he included into the Sandy relief bill, I am skeptical of the bill's purpose. And and let's not forget about the generous donations or FEMA's available funds, neither of which have yet to be fully implemented.

Although cloaked by a good cause, it seems that this bacon slab of a bill is intended to do nothing more than increase government spending — ultimately wasting the hard earned money of the taxpayer, to further our president's agenda.


President Obama has $7.8 billion he can release right now...if he really cared.


Offline
CKA Uber
CKA Uber
User avatar
Profile
Posts: 50669
PostPosted: Wed Jan 02, 2013 12:39 pm
 


Did you just hear Christie? Doubt it. I did.

You lost the elections. Now get to work for ALL people in your country. Not just your own arrogant ass.


Offline
Active Member
Active Member
 Tampa Bay Lightning


GROUP_AVATAR
User avatar
Profile
Posts: 440
PostPosted: Wed Jan 02, 2013 1:11 pm
 


I dont care which the Repub's or Demo's is causing the issue. The US Government has failed and is hung on both sides. The US has the worst situation in it's history a enemy from within and it's called the current Government. There only so much money and taxes one can do and when the turnip dries out your screwed. The whole and citizens of the US lost last election. Massive Voter Fraud scale occurred on both sides. so there is no government and thus hung. Most Sandy victims are PO'd at Obama not the Legislative branch. Christi is just a weasel.


Offline
CKA Uber
CKA Uber
User avatar
Profile
Posts: 50669
PostPosted: Wed Jan 02, 2013 2:51 pm
 


http://www.huffingtonpost.com/2013/01/0 ... lp00000009

But it is all Obama's fault. K.


Offline
CKA Uber
CKA Uber
 Calgary Flames
User avatar
Profile
Posts: 11620
PostPosted: Wed Jan 02, 2013 2:53 pm
 


If the hurricane had hit some GOP red states instead of Democrat blue ones there's no way in hell that the relief money would have been held up.


Offline
CKA Uber
CKA Uber
 San Jose Sharks


GROUP_AVATAR
User avatar
Profile
Posts: 41821
PostPosted: Wed Jan 02, 2013 3:12 pm
 


Thanos wrote:
If the hurricane had hit some GOP red states instead of Democrat blue ones there's no way in hell that the relief money would have been held up.


Read the article. The so-called 'relief bill' doesn't have any actual relief funding in it.

Passing that bill will not rebuild one single home or restore one single business that was impacted by the hurricane.

Maybe if it were really a relief bill and not just a steaming pile of graft it would pass.


Offline
CKA Uber
CKA Uber
 San Jose Sharks


GROUP_AVATAR
User avatar
Profile
Posts: 41821
PostPosted: Wed Jan 02, 2013 3:13 pm
 


Brenda wrote:
Did you just hear Christie? Doubt it. I did.

You lost the elections. Now get to work for ALL people in your country. Not just your own arrogant ass.


I'm so glad you don't live here.


Post new topic  Reply to topic  [ 26 posts ]  1  2  Next



Who is online

Users browsing this forum: No registered users and 2 guests




 
     
All logos and trademarks in this site are property of their respective owner.
The comments are property of their posters, all the rest © Canadaka.net. Powered by © phpBB.