[Iran Press TV] US President Barack Obama I mean, I do think at a certain point you've made enough money... and Republican House Speaker John It is not pronounced 'Boner!' Boehner ... the occasionally weepy leader of House Republicans... have discussed the ways to avoid the so-called "fiscal cliff," but reached no deal to tackle Washington's deficit woes.
The White House said after the Sunday talks that "the lines of communication remain open," but it gave no details on the negotiations.
The Democrats and Republicans are trying to reach a deal to stop automatic spending cuts and tax increases, which will take effect on January 1, 2013, if no deal is reached.
Obama's most recent proposal to stave off the "fiscal cliff" calls for USD 1.6 trillion in new revenues, achieved in part by letting the Bush-era tax cuts expire for the wealthiest Americans, as well as USD 600 billion in spending cuts and a handful of other measures.
The Republicans have put forward a counter offer that is made up of USD 900 billion in spending cuts and USD 800 billion in new revenues achieved through tax reform that precludes rate increases.
The White House says it will not accept a deal unless tax rates for the wealthiest Americans rise.
The Republicans, however, say that tax hikes would hurt a still fragile economy.
On Friday, Boehner accused Obama of recklessly pushing the US to the fiscal brink over tax hikes, saying the deficit talks had "no progress."
Meanwhile, ...back at the sandwich shop, Caroline was experimenting with ingredients of increasing volatility... International Monetary Fund Managing Director Christine Lagarde has said that the US needs a balanced and comprehensive approach regarding the looming "fiscal cliff" to tackle its deficit woes.
"The best way to go forward is to have a balanced approach that takes into account both increasing the revenue, which means, you know, either raising taxes or creating new sources of revenue, and cutting spending," said Lagarde in an interview on Sunday.
Unless and until we have a political party which will cut non-defense spending by 40-75% and is prepared - really prepared - to deal with the potential short-term unrest this will cause - the country will continue to decline and may end up being destroyed.
I suspect a deal has already been reached to go off the cliff.
Boehner, the quintessential country club Republican, desires defense cuts (as many RINO's do) but cannot overtly push for them, it would be political suicide. Also, he does not wish to offend any of the groups who get the magic checks who aren't affiliated with the defense industry. Going off the cliff is the perfect fig leaf for him in both of those areas, plus he can claim he tried to protect the wealthy job creators but Obama wouldn't budge, so he can blame the next recession on someone else.
Obama, as Besoeker says, also wants to gut the defense infrastructure of this country and use the revenue so obtained to buy more votes with more entitlement/welfare/public sector jobs he can hand out as a result. When tax rates go up on everybody and the next recession occurs, he can blame the Republicans for it, saying that all the jobs lost were due to the cuts mandated by the fiscal cliff.
Going off the cliff is a win/win for these two.
So that is what will happen.
Posted by: no mo uro ||
12/11/2012 6:35 Comments ||
1. Revoking the Bush era cuts for >$250k income only produces $35B to $60B per year. I don''t see how this sums to $1.6T over 10years.
2. Back in 2000, the Defense budget was about $300B. Granted that probably wasn't enough but now the Defense budget is about $700B. After the drawdown in Afghanistan, it seems we could get by on $500 without too much trouble.
3. Its a shame we can't get smart Bain types or retired Fed employees to go through the discretionary budget and get rid of the fluff. However, in many agencies (Patent and Trade, Passport and VISA office, etc.), there simply isn't much fluff.
Posted by: lord garth ||
12/11/2012 9:43 Comments ||
Well, they are not too good at math in Washington.
youtube has some good vids of unionistas doing what they do best...I'm sure it will endear them to the avg joe in MI. As soon as MI passes the anti-CAIR legislation I will be proud of my home state again. This RTW bill was a step in right direction...
Outside of his anti-Islam activism Yerushalmi is notable for saying, "There is a reason the founding fathers did not give women or black slaves the right to vote." He has also claimed that people of the Jewish faith "destroy their host nations like a fatal parasite."em>
Quite an invective. Call me racist, but Julius and Ethel aside, the societal motivations of contemporary folks such as Deborah Wasserman Schultz, Ayers and Dohrn, Raum Emanuel, Bernie Madoff, and George Soros, only to name a few, might make an interesting study.
Doesn't islam contain in it Sharia law which establishes religious, legal, business and economic practices. Doesn't Sharia law also establish punishment for violations of Sharia law? Isn't the concern about establishing a system within our country that would supplant and/or operate in parallel with our legal system?
Psychiatrists were among the highest-paid employees in Pennsylvania, Ohio, Michigan and New Jersey, with total compensation $270,000 to $327,000 for top earners. State police officers in Pennsylvania collected checks as big as $190,000 for unused vacation and personal leave as they retired young enough to start second careers, while Virginia paid active officers as much as $109,000 in overtime alone, the data show.
The numbers are even larger in California, where a state psychiatrist was paid $822,000, a highway patrol officer collected $484,000 in pay and pension benefits and 17 employees got checks of more than $200,000 for unused vacation and leave. The best-paid staff in other states earned far less for the same work, according to the data.
Mohammad Safi, graduate of a medical school in Afghanistan, collected $822,302 last year, up from $90,682 when he started in 2006, the data show. Safi was placed on administrative leave in July and is under investigation by the Department of State Hospitals, formerly the Department of Mental Health.
A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.