Obama, spins it again (or tries to)
+ Reply to Thread
Results 1 to 3 of 3

Thread:
Obama, spins it again (or tries to)

  1. #1
    Already miss the 310/562 2manymustangs's Avatar
    Join Date
    Jan 2008
    Posts
    13,551

    Default Obama, spins it again (or tries to)

    The lame one is hard at work trying to spin the "im not going to let Congress NOT pay the bills they rack up"... With regard to the pending debt ceiling increase AGAIN...

    Well, here is how we got to the FIZZZZZZZZZZZZZcal cliff in the first place, thanks to OblameR and his cast in the Santa suits giving away the country to the "entitled" (and the Chinese)...

    Readers digest, OlameO wanted an additional 900 billion to get a new line of credit and the Republicans put some conditions on the new debt ceiling: http://en.wikipedia.org/wiki/United_...icit_Reduction



    Impasse and failure
    The initial proposal from the Democrats on the committee offered 3 trillion in deficit reduction, including 1.3 trillion in new revenue and 400 billion in Medicare savings, but was rejected on partisan lines for the level of tax increases. The Toomey plan proposed 1.2 trillion in deficit reduction, including 300 billion in new revenue, but was rejected because it lowered the top marginal tax rate from 35% to 28%.[33]
    The final agreement would have needed to undergo a 48 hour vetting period by the Congressional Budget Office before being presented to Congress. After financial markets closed on Monday November 21, 2011, the committee issued a statement that it had failed to reach agreement.[4] This failure despite the extraordinary conditions under which the committee operated was viewed by both sides as a missed opportunity and a triumph of political ideology over genuine leadership. An ORC International poll conducted November 11–13 reports that 19% of respondents would hold both parties responsible for failure to reach an agreement; 32% of respondents thought Democrats would have a greater responsibility, and 42% Republicans (±3%).[34] A Quinnipiac University Polling Institute poll conducted November 14–20 indicates that voters blamed the looming impasse on Congressional Republicans 44% to 38% (±1.9%) over President Obama and Congressional Democrats.[35][36] A Gallup poll conducted on November 21 after the announcement finds that 55% apportioned blame equally to the Republicans and the Democrats on the committee, with 24% blaming the Republican members more and 15% blaming the Democratic members more (±4%).[37]
    Committee co-chair Jeb Hensarling blamed Democratic committee members for insisting on "a minimum of $1 trillion in higher taxes" and unwillingness to agree to "structural reforms" to health-care entitlement programs.[38] Jon Kyl framed the failure as a question of the scope and size of the government and whether the deficit could best be dealt with by increased taxes or by increased economic growth.[39] Pat Toomey called his proposal a "genuine compromise" that included increased tax revenues by reforming and simplifying the tax code, as well as spending reductions.[40] The Republican presidential candidates have each stated that deficit reduction should not include any tax increases.[41] Phil Kerpen of Americans for Prosperity celebrated the impasse as preventing a "poorly-timed tax hike".[42] Republicans have also criticized Obama for his hands-off approach; the president was out of the country during the final week of negotiations.[41][36]
    Committee co-chair Patty Murray blamed Republican committee members for insisting that the "wealthiest Americans and biggest corporations be protected from paying a penny more" at the expense of the middle class.[43] John Kerry put the blame on "the Republican insistence on making tax cuts for the wealthiest Americans permanent", referring to the Bush tax cuts due to expire in 2013.[44] Nancy Pelosi blamed Republican rejection of a "balanced approach", and Harry Reid put the point of no compromise on the Republican proposal to privatize Medicare.[39] Former Secretary of Defense William Cohen outlined the likely consequences of sequester to the defense budget, calling on Congressional Republicans to choose between "rigid antitax ideology" and national defense.[45]
    [edit] Aftermath
    Deficit reduction and the automatic cuts scheduled to take effect in January 2013 were viewed as likely to figure in the 2012 presidential election.[46][36] President Obama stated that he would veto any attempt by Congress to cancel the $1.2 trillion sequester.[47] These sequestrations figured prominently in the United States fiscal cliff discussions starting in 2012.[48]
    US financial markets largely anticipated the failure of the committee, leaving little room to fall following the announcement. The Dow was down 2.1% on the day of the announcement, and the NASDAQ and S&P 500 were each down 1.9%. Yield on ten year treasuries fell to 1.96% on increased demand for stable investments.[46][49][50][51] Credit rating agencies maintained their projections for US sovereign debt. Standard & Poor's affirmed their AA+ rating; the agency had downgraded the country's credit rating in August of 2011, citing Congressional resistance to new revenue measures and fears that the tax cuts of 2001 and 2003 might not be allowed to expire.[36][52] Moody's affirmed a rating of AAA with a negative outlook.[36][53] Fitch Ratings affirmed its AAA rating but revised their outlook to negative, citing "declining confidence that timely fiscal measures necessary to place U.S. public finances on a sustainable path ... will be forthcoming."[54][55]
    Following the announcement that the committee had failed to reach agreement, a group of government watchdog organizations posted an open letter to President Obama and ranking members of Congress calling for the release of committee working documents. It argues that the proposals could serve the public interest by providing a basis for public debate going forward. The group comprised Taxpayers for Common Sense, the Project On Government Oversight, the Sunlight Foundation, the Center for Responsive Politics, Citizens Against Government Waste, The Heartland Institute, and Citizens for Responsibility and Ethics in Washington.[56][57] Except for the five public hearings, the committee proceedings comprising the majority of the negotiations and counter-offers will remain sealed for 20 years under current rules.[58][59]
    Pat Eason, the voice of reason...

  2. Remove Advertisements
    PerformanceBoats.com
    Advertisements
     

  3. #2
    a.k.a. "Mean Pair" Nice Pair's Avatar
    Join Date
    Dec 2007
    Location
    I want out of Kalifornia
    Posts
    5,950

    Default

    Quote Originally Posted by 2manymustangs View Post
    The lame one is hard at work trying to spin the "im not going to let Congress NOT pay the bills they rack up"... With regard to the pending debt ceiling increase AGAIN...

    Well, here is how we got to the FIZZZZZZZZZZZZZcal cliff in the first place, thanks to OblameR and his cast in the Santa suits giving away the country to the "entitled" (and the Chinese)...

    Readers digest, OlameO wanted an additional 900 billion to get a new line of credit and the Republicans put some conditions on the new debt ceiling: http://en.wikipedia.org/wiki/United_...icit_Reduction



    Impasse and failure
    The initial proposal from the Democrats on the committee offered 3 trillion in deficit reduction, including 1.3 trillion in new revenue and 400 billion in Medicare savings, but was rejected on partisan lines for the level of tax increases. The Toomey plan proposed 1.2 trillion in deficit reduction, including 300 billion in new revenue, but was rejected because it lowered the top marginal tax rate from 35% to 28%.[33]
    The final agreement would have needed to undergo a 48 hour vetting period by the Congressional Budget Office before being presented to Congress. After financial markets closed on Monday November 21, 2011, the committee issued a statement that it had failed to reach agreement.[4] This failure despite the extraordinary conditions under which the committee operated was viewed by both sides as a missed opportunity and a triumph of political ideology over genuine leadership. An ORC International poll conducted November 11–13 reports that 19% of respondents would hold both parties responsible for failure to reach an agreement; 32% of respondents thought Democrats would have a greater responsibility, and 42% Republicans (±3%).[34] A Quinnipiac University Polling Institute poll conducted November 14–20 indicates that voters blamed the looming impasse on Congressional Republicans 44% to 38% (±1.9%) over President Obama and Congressional Democrats.[35][36] A Gallup poll conducted on November 21 after the announcement finds that 55% apportioned blame equally to the Republicans and the Democrats on the committee, with 24% blaming the Republican members more and 15% blaming the Democratic members more (±4%).[37]
    Committee co-chair Jeb Hensarling blamed Democratic committee members for insisting on "a minimum of $1 trillion in higher taxes" and unwillingness to agree to "structural reforms" to health-care entitlement programs.[38] Jon Kyl framed the failure as a question of the scope and size of the government and whether the deficit could best be dealt with by increased taxes or by increased economic growth.[39] Pat Toomey called his proposal a "genuine compromise" that included increased tax revenues by reforming and simplifying the tax code, as well as spending reductions.[40] The Republican presidential candidates have each stated that deficit reduction should not include any tax increases.[41] Phil Kerpen of Americans for Prosperity celebrated the impasse as preventing a "poorly-timed tax hike".[42] Republicans have also criticized Obama for his hands-off approach; the president was out of the country during the final week of negotiations.[41][36]
    Committee co-chair Patty Murray blamed Republican committee members for insisting that the "wealthiest Americans and biggest corporations be protected from paying a penny more" at the expense of the middle class.[43] John Kerry put the blame on "the Republican insistence on making tax cuts for the wealthiest Americans permanent", referring to the Bush tax cuts due to expire in 2013.[44] Nancy Pelosi blamed Republican rejection of a "balanced approach", and Harry Reid put the point of no compromise on the Republican proposal to privatize Medicare.[39] Former Secretary of Defense William Cohen outlined the likely consequences of sequester to the defense budget, calling on Congressional Republicans to choose between "rigid antitax ideology" and national defense.[45]
    [edit] Aftermath
    Deficit reduction and the automatic cuts scheduled to take effect in January 2013 were viewed as likely to figure in the 2012 presidential election.[46][36] President Obama stated that he would veto any attempt by Congress to cancel the $1.2 trillion sequester.[47] These sequestrations figured prominently in the United States fiscal cliff discussions starting in 2012.[48]
    US financial markets largely anticipated the failure of the committee, leaving little room to fall following the announcement. The Dow was down 2.1% on the day of the announcement, and the NASDAQ and S&P 500 were each down 1.9%. Yield on ten year treasuries fell to 1.96% on increased demand for stable investments.[46][49][50][51] Credit rating agencies maintained their projections for US sovereign debt. Standard & Poor's affirmed their AA+ rating; the agency had downgraded the country's credit rating in August of 2011, citing Congressional resistance to new revenue measures and fears that the tax cuts of 2001 and 2003 might not be allowed to expire.[36][52] Moody's affirmed a rating of AAA with a negative outlook.[36][53] Fitch Ratings affirmed its AAA rating but revised their outlook to negative, citing "declining confidence that timely fiscal measures necessary to place U.S. public finances on a sustainable path ... will be forthcoming."[54][55]
    Following the announcement that the committee had failed to reach agreement, a group of government watchdog organizations posted an open letter to President Obama and ranking members of Congress calling for the release of committee working documents. It argues that the proposals could serve the public interest by providing a basis for public debate going forward. The group comprised Taxpayers for Common Sense, the Project On Government Oversight, the Sunlight Foundation, the Center for Responsive Politics, Citizens Against Government Waste, The Heartland Institute, and Citizens for Responsibility and Ethics in Washington.[56][57] Except for the five public hearings, the committee proceedings comprising the majority of the negotiations and counter-offers will remain sealed for 20 years under current rules.[58][59]
    "I am totally embarrassed to be an American." Thru ignorance and having to physically work for a living, I am partially responsible for letting our government run amuck.



  4. #3
    Already miss the 310/562 2manymustangs's Avatar
    Join Date
    Jan 2008
    Posts
    13,551

    Default

    Quote Originally Posted by Nice Pair View Post
    "I am totally embarrassed to be an American." Thru ignorance and having to physically work for a living, I am partially responsible for letting our government run amuck.
    The Gubment (espeically the liars with a "D" in front of their names) takes advantage of our busy lives/work/family ties/stuff that keeps us occupied and UNable to keep tabs on the B.S. that takes place...

    All we can do is try to keep each other informed and focused on the manta "no new taxes" or "T.E.A."... The GUBMENT will continue to suck us working stiffs dry and pander/buy votes of the entitled if we dont hold their feet to the fire...

    Hang in there...
    Pat Eason, the voice of reason...

+ Reply to Thread

Quick Reply Quick Reply

Register Now

Please enter the name by which you would like to log-in and be known on this site.

Please enter a password for your user account. Note that passwords are case-sensitive.

Please enter a valid email address for yourself.

Please select your insurance company (Optional)

Log-in

Tags for this Thread

Digg This Thread

Posting Permissions

  • You may post new threads
  • You may post replies
  • You may not post attachments
  • You may not edit your posts
  •  
 

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95