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WASHINGTON -- Two potential Republican vice presidential contenders had the same warning Tuesday afternoon: it is time to fix the country’s fiscal problems now.
Addressing the 2012 Fiscal Summit, both Ohio Sen. Rob Portman and Wisconsin Rep. Paul Ryan said the economy is likely to slip back into a recession if action isn’t taken soon.
Jonathan Ernst / Reuters
Rep. Paul Ryan, R-Wis., participates in an onstage interview during the Peterson Foundation 2012 Fiscal Summit May 15 in Washington.
“I think we know enough to know it's going to be devastating to the economy if we don't deal with these issues before year end,” Portman said, referring to looming work on expiring Bush tax cuts and raising the nation's debt ceiling. Portman said that while it's difficult to finish work on those issues during an election year, it is necessary.
Ryan, the chairman of the House Budget committee, said his goal is to help get the trajectory of the debt back on a downward slope.
While neither prominent Republican addressed VP speculation or their support of Gov. Mitt Romney, both took aim, at times, at the same target -- President Barack Obama.
“There are Democrats and Republicans who largely agree with each other on how best to tackle these challenges. Unfortunately, it's not the current president and it's not the Senate leadership that we're dealing with right now,” Ryan said.
Democrats and Republicans have been struggling to deal with the debt crisis for years, most recently during a protracted 2011 fight over cutting spending and raising the nation's borrowing limit. But Congress has made little progress since the collapse of last year's "supercommittee" established in the debt ceiling agreement. Portman was a member of that supercommittee.
“I will say that Democrats needed a little help in terms of the supercommittee. We didn't have that. In fact what we had was a veto threat if it wasn't done just the way President Obama wanted it done. That's not leadership,” Portman admitted, saying presidential leadership is needed to help figure out problems as a country.
And, it seems unlikely the economic issues will be resolved prior to November’s presidential election. And Ryan doubts the lame-duck session will bring any resolutions either.
“I don't think you'll see a permanent resolution to our problems in a lame duck session. I'm not sure that's the appropriate place to do that,” the chairman said, adding: “I personally believe if we can remove these partisan roadblocks, that we can get to a moment where we're going to have a solution once and for all for this problem and hopefully in time to prevent an austeritylike debt crisis.”
Former President Bill Clinton, Treasury Secretary Timothy Geithner and House Speaker John Boehner also addressed the summit, sponsored by the Peter G. Peterson Foundation.
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Easy fix. Just enact a super-duper committee, one that pretends again to be bi-partisan and all the problems will be solved. Oh yeah, make sure to back your claim with your parties contingency plan like last time, republicans will cut spending in military, and democrats will take on the entitlement programs. Worked so well last time.
Just keep Obama away from any fiscal decisions ....
Obama couldn't fiscally manage a wiener and potato chip cart ....
"Economists have warned that the combination of a large tax increase and the spending cuts could significantly curtail economic growth if they take place simultaneously." (The Hill)
That there, is the real "fiscal cliff".
Megalomaniac Wall Street Koch Lobbyist Grover Lobbyist said that his followers will impeach President Obama if he doesn't extend the Bush tax cuts (another $4Trillion?) in 2012.
The BULLY PARTY play games much with the American people?
“I think we know enough to know it's going to be devastating to the economy if we don't deal with these issues before year end,” said Sen. Portman said, referring to looming work on expiring Bush tax cuts and raising the nation's debt ceiling. Portman said that while it's difficult to finish work on those issues during an election year, it is necessary.
If he and the rest of the republicans had done anything other than obstruct actions necessary to correct the problem all along, we wouldn't be in the mess we are and they wouldn't have to worry about doing something this late in the game.
Furthermore, if those two are the best possible candidates for the VP slot, the republicans are worse off than I thought.
bigbenalaska
wow, what the heck do you think about Bush's record then since he bankrupted two companies and a country?
BTW, how is Alaska doing considering it's one of the biggest welfare states? Are you enjoying living off my taxes, bigben?
Off topic but - are my eyes playing tricks on me?
Is Willard using a *gasp* teleprompter while he lies through his teeth?
Wonder how many are in the audience?
Judging from the echo's off the mic I would say maybe 100...
Sounds like the real cost projections of the cost of Obamacare , Backhouse .... "LOL"
A lot of ol' jalopy mister,
But that is your style.
Obama hasn't been ahead in the polls for weeks now .... "LOL"
He's surely not going to fool the masses of Americans this time ....
Tuesday, May 15, 2012
The Rasmussen Reports daily Presidential Tracking Poll for Tuesday shows Mitt Romney earning 47% of the vote and President Obama attracting 45% support. Four percent (4%) would vote for a third party candidate, while another four percent (4%) are undecided ....
The stimulus was too small. It did what it did, but it could have done a lot more. More people at work means more goods and product sold with the additional income received by more consumers. Thus, you have a thriving economy. Deficits can be paid by those who now have incomes when the economy gains steam. It worked after WWII when the GI bill paid for the education of millions of Americans who then got better paying jobs that increased the tax base and paid off the post war deficit that was more daunting than the one we have now.
Republicans say austerity is the answer. That means firing people. Those put out of work in the public sector by governors or the Congress now have no income and don't support the tax base. They sap money from the economy instead, as they have no other choice. To date about 600,000 State, local and federal workers have been laid off, and other jobs were not allowed to be created by a stingy congress that never took either a micro or macroeconomics course. How on Earth do you get more steam out of an economy with a stunted tax base caused by those who feel we need to take the largest employer in the country, government, and cut its human resources and thus the tax base?
Austerity is clearly not working in Europe, and it won't work here either. Ask Louis XVI.
Hi Backhouse,
Wouldn't it be fun to watch them try. Grover had better be careful, because someone high up might get him for treason.
"The Bush tax cuts contributed significantly to the emergence of large deficits over the past decade and would prove even more unaffordable in coming decades if policymakers extended them.
Yet, instead of letting them expire as the economy recovers, the Ryan budget would "double down" by extending them and adding another round of costly, regressive tax cuts on top."
http://www.cbpp.org/cms/index.cfm?fa=view&id=3728
Ryan would cut 50 million out of health care to cover a $3Trillion tax cut for the most affluent Americans.
FACE UP TO THE FACTS.
This Republican plan is the same old worn out plan that caused the problems in the first place. Just do what President Obama wants and we will be fine.
We've been trying Obama's disasters for more than 3 years now and where are we .... "LOL"
Real Americans will never allow Obama to continue his destruction of America ....
Never ....
And his poll numbers show it and so early in the race .... "LOL"
This Great Depression was a long time in the making.
President Bush signed TARP Sept/Oct 2008 to stop US Banks from crashing. Towards the end of his term, 4 million jobs were lost.
4 million more jobs were lost when the next President, Barack Obama came in.
4.2 jobs have been created (and WIDELY reported on) since 2009. The jobs lost on President Obama's watch are back.
Romney continues to LIE about our economic recovery for a couple of reasons: That is what he is being told to do. And he is a compulsive liar.
Wall Street Koch Lobbyist Grover Norquist, along with his handlers and Big Money Backers - call the shots in the GOP party.
You and your one poll. Here is a better picture
http://nationalpolls.com/
The President looks pretty darn good!
Is Obama's almost 16 trillion dollar massive , unstoppable , record high , economy crushing , credit downgrading , rocketing upward , Greece like debt a lie .... "LOL"
The first gay food stamp president ....
That's just great ....
Unlike Greece which has been in trouble for years, the United States under President Obama, has stabilized and is recovering. Austerity has driven european citizens onto the streets in protest.
You do know this, don't you, or is it a pay scale thing?
Get your WIMPY gop-ers to stand UP to Norquist.
I'm on what everyone else is on ....
A $183,365 , as of today , total debt per citizen ....
Just lovely .... "LOL"
GWBush increased food stamps and was FOR civil unions.
Will you make homophobic slurs against him, as well?
Backhouse - bigbenalaska is useless. His homophobic rants say everything about him and nothing about Obama. My guess is Ben has been hiding his own sexuality for a long time and is still frightened that those around him won't accept that he likes Steve instead of Sue.
Just sayin....
bigbenalaska - you know, if I were you, I'd think about the fact that you're sharing the same positions as BoTheDog. That should make you think twice about your beliefs! Scary!!!!
But, Big Ben, Bush said (and I quote) "deficits don't matter." Was he lying?
Also, for someone claiming to be so unhappy with our President--you sure do "Laugh Out Loud" a lot! Can't be so bad, huh?
Bigbenalaska "We've been trying Obama's disasters for more than 3 years now and where are we "
We actually haven't been trying Obama's economic policies for the last three years because they have been obstructed at least for the last two, and nothing has passed. Haven't you noticed that this congress has accomplished NOTHING for the last two years? If Obama's jobs initiatives had not been squashed, many more people would be working and paying taxes. If the Buffett Rule had passed, revenue would be coming into the Treasury.
The solution is to remove as many Republicans from office as possible.
Heartlight, Job 1, Seeking, and What?
Bravo. Exactly so.
That's a good start, but it won't be enough. We need to send them to the Ministry of Truth and deprogram them.
In the meantime let's ignore ben -- He is suffering from cabin fever and not enough sun. (For some reason his avatar makes me think of The Shining.)
Is Willard using a *gasp* teleprompter while he lies through his teeth?
LMAO Feisty! Perhaps he's having trouble coming up with more lies on his own and needs additional help. But I have complete faith that he'll be successful in coming up with more lies of his own in the future.
While the stuck on stupid crowd clap on cue like trained seals!
The hits just keep on rolling..
That's true ....
Obama hits Americans with additional debt at $1 million dollars every 20 seconds .... "LOL"
bigbenalaska
The biggest contributors to the nearly $9 trillion increase over a decade were:
Bush 2001 and 2003 tax cuts (decreased revenue)
Interest on money Bush borrowed
Wars in Iraq and Afghanistan
2003 creation of Medicare's prescription drug benefit
The list goes on but you [don't] get the point..."LOL"
bayllie Get rid of the Bush tax cuts!! No, not on just the top 2% but ALL of them! This would amount to about $370B/yr. What do we do about the other $1T/yr added to the deficit??!! And just try to eliminate Medicare part D. You will hear the seniors scream!
Romney will be ahead in the polls tomorrow too .... "LOL"
Sorry Obama supporters ....
Enjoy Romney's early poll numbers ....
Tuesday, May 15, 2012
The Rasmussen Reports daily Presidential Tracking Poll for Tuesday shows Mitt Romney earning 47% of the vote and President Obama attracting 45% support. Four percent (4%) would vote for a third party candidate, while another four percent (4%) are undecided .... "LOL"
You and your one poll. Here is a better picture
http://nationalpolls.com/
The President looks pretty darn good!
Romney is unelectable. The MAJORITY of Americans who will vote in November WANT taxes raised on millionaires and that is a very MAJOR issue that will be THE deciding factor for MANY voters. We have seen that Trickle Down Economics fail and miserably. Meanwhile as NOTHING trickles down, we do have bloodsuckers like Romney, himself, KILLING JOBS to enrich himself. In this we want jobs climate, knowing that Republicans have OBSTRUCTED JOBS, and only provided any where they could far more ENRICH themselves, by restructuring companies and TAKING AWAY benefits the workers HAD, prior to BAIN and Romney arriving.
Both Romney and Obama, are multi-millionaires-- now who is going to vote for the one who got there by screwing over everyone else, who got there by stepping on the backs of thousands, and STEALING their jobs to profiteer. Romney has hundreds of millions, because thousands of families had NOTHING, after he came to town. That is reprehensible, period. And someone who is PROUD of conducting what is effectively a company that functions like a PARASITE, is no one America is going to support. His contributions rivaled the Presidents? Sure and now lets take another kind of number, HOW MANY FOLKS CONTRIBUTED. I bet the KROCH BROTHERS contribution, rivals that of a million Americans, fortunately FOR AMERICA, there are only two kock brothers and barring the corruption of town clerks, they only get TWO votes.
looks great;)
Of course he needs more money - he still has several friends he hasn't given 6 million to yet.
Republicans cannot solve the problem, they are the problem. Unemployment is a political strategy and spending cuts are not for the budget or the debt, but for tax cuts for the rich (party owners). They warned that the Affordable Health Care Act was a threat to Medicare, and their solution was to kill Medicare before it could be hurt. They also talk about Social Security as if it was part of growing the debt. It is part of the national debt, because four trillion dollars of the debt is for money filched from the Social Security Trust Fund. Social Security is weaker because it was robbed at pen point.
Defense spending is merely a matter of letting Americans die so foreigners can be killed. That bit of social engineering protects the defense industry, not the country. Stimulus by any other name is called national security or preparation for starting a war with Iran, or with Romney, possibly Iran and Russia concurrently. Perhaps there will be murder in the space station to add adventure.
President Obama owns the economy now like it or not. In case you were to busy posting here please take a look at what UNFORTUNATELY is coming. In case you folks are not looking the Dow has gone down from a high of 13,279.32 a low of 12,632 in just 14 days. I do not believe is going to stop here and DAMMMMM I'm mad.
My President,you had 3.5 years to correct this with both houses at a Democrat Majority and all that you were pushing was your Health care bill, choking Companies, small and large. Saying one thing and doing another. More worried about raising money for your Campaign than raising JOBS. Guess what, you have run out of time and hope that Mr Romney can turn this around for all Americans.
As a leader you need to take IDEAS from both sides and top being so divisive.
Romney and all his VP candidates spend so much time HUGGING one another and patting one another on their back [sometimes] Romney won't remember what banks he has his money in. If that happens he will not know what to talk about. His Bain days seem to be taking hold with the public now and it doesn't look good. Between that and cruelty to animals [HIS DOG]America is seeing the real ROMNEY.
Recession - "Crying Wolf" as by the TEA-Republicans is so sanctimonious and self-serving. The economy is slowly healing without any input from the TEA-Republican leadership and Boehner threatening another "Debt Ceiling" confrontation just before the November election stinks to high heaven. But so typical of confrontational-ist behaviors from Obama's opposition.There will be a distinct difference to choose from in November. One is inclusive of all races, gender and color, while the other supports tax savings for the most affluent of America. One has tried to make it easy for everyone to reach their goals, while the other backs limitation of education and dissolution of numerous Social Programs. One worked his way up the ladder to success while the other had excesses and privileges so he could have elevators for his two Cadillac's for his wife in his new California domicile as he traipses across France two or three times per year. There are many who did not want the nominee to be Romney and hold their nose when they vote for him, while Obama enjoys the success and support from people of color, women, gays and unions. It has been well documented the Troubling Economic Antagonist(TEA) party would field contestants around the nation to further their skewed, narrow-minded fringe beliefs and effect local and state controls while moving towards national prominence. Get involved locally. That's where the real power lies. Effect a change! Make your voices heard! Get active locally - Get active at the state level - Get registered to vote - Vote - Get out the vote! There will be a distinct difference to choose from in November. One is inclusive, the other seeks separation of classes, gender, races and living standards.
Well said, Rudy. With all the noise being made lately about states' rights, we have to get out and oppose the tea baggers on the state and local levels. That's where the real damage is being done!
38 states with constitutional bans on gay marriage? Really? Are there really that many gay couples clamoring to get married in North Carolina that they had to pass a constitutional amendment to prohibit it? I don't think so. It was just a loud-mouthed gang of homophobic, racist tea-baggers making a lot of noise and confusing the less intelligent members of society.
There was no large, organized opposition to them, so they passed it in an election with a very small turnout.
That's my point. Here in AZ we're stuck with all kinds of ridiculous laws that get passed by a very small percentage of the population. Apparently, kooks and nutcases get out and vote. We have to respond in kind.
Boehnor nor Canter will have any control Nancy will be in there slugging democrats get in and run against the democrat blue dogs get rid of them get someone to back your president
NO WAY NO HOW will the Bush tax cuts be extended again. The deficit hole is just TOO DANG BIG for the Dems to make that mistake again. Despite with Dick Cheney says, deficits do matter, and so does the burgeoning wealth gap in the USA where the middle class pays a higher tax rate than Mitt "Mr. Stiffy" Romney's 13.9%. Boehner must be having another wet dream.
Most of the "middle class" does not pay more than 13.9% in federal income taxes!!!
Really? I paid around 17% after a refund. And Mittens deducted millions!
Pilot-4300399 - TES is worried that the middle class and the lower class, his employees, will soon rise up and he will lose his business so TES spreads mis-information for his own purpose, to lower his own taxes, and let his subjects... oops, I'm sorry, his employees fight over the scraps while he moves his money off shore, just like Mitt does.
I happened accross a blog by Larry Flynt that I think really identifies the underlying sentiment of the lower and middle class. This blog is from a millionaire who probably is paying 20-24% income taxes so he has nothing to lose by the statement, notwithstanding Flynt's obivious penchant for self-promotion.
Here is Flynt's blog -
"When it came to setting up our government, Thomas Jefferson had three concerns: tyranny of kings, tyranny of theocrats and tyranny of the wealthy. For the time being we seem to be safe from kings and theocrats. We are not, however, safe from the superrich.
Here’s what Jefferson said: “I believe the banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.” The bankers and corporations have bought and paid for our politicians, both on the Left and the Right. That’s why our elected representatives stand mute when it comes to defending the rights of working- class Americans.
It’s time to heed Jefferson’s words. It’s time to fight back."
To TES, keep supporting those politicians you've paid for to try to get your taxes reduced and we'll see who ends up in the poor house - my children? or yours?
I would prefer both sets of our children to enjoy a good life. How about standing up at the golf club, the businessman club, the commerce club or whatever club you and your fellow millionaires attend and simply say... "enough is enough! It is time we reward our employees who made up millions their fruits. We will become more wealthy if we do!"
Jahna Berry - May. 16, 2012 12:07 AM The Arizona Republic Jahna Berry - May. 16, 2012 12:07 AM
On a bare-bones budget, a single person in metro Phoenix could survive earning $10.19 an hour, but a family of two adults and two young children would need to earn nearly three times that amount, according to a study released today.
The research, commissioned by the Women's Foundation of Southern Arizona, examined how much it costs for families to survive in Arizona's 15 counties. The last time a similar study was done was 2002.
Since then, the costs to meet the most basic needs of a two-adult household with two children has risen between 27 and 29 percent, according to the study.
"There are thousands of families -- tens of thousands -- across the state that are really struggling," said Laura Penny, the foundation's executive director. "They are working. But they are in low-wage jobs."
People need to research Mr. Romney he balanced the budget when he was govenor, but he did it on the backs of the poor and the middle class by increasing tax on them and cutting taxes on the rich. When he took office as govenor Mass. was 37th in the nation in job growth and when he left office they were 47th in job growth you can check this by going to Gov. Romney Record.com. He is not a job creator. Romney and people like Paul Ryan and the tea party would do this country like Greece and bring this country down. Romney has said he would get rid of the Dept. of Education and cut government to a point that thousands would be out of work and unemployment would increase again. You should read the Ryan Budget you would find the taxes on the rich would be cut and all those under 250,000 would be taxed and those that make less 50,000 taxes would increase even higher. Entitlement programs for the poor and disabled would be elimentated alot of people will be hurt. OBAMA is the best choice.
SCC: And those spouting how Romney "saved" the Olympics need to look a bit further....
In a mocking tone, Santorum said that Romney “heroically bailed out the Salt Lake Olympic Games -- by heroically going to Congress and asking them to bail out the Salt Lake Olympic Games. In an earmark!”
He also said Romney, as governor of Massachusetts, had encouraged his state’s congressional delegation to win a half-billion dollars in earmark spending for the state. ”Does the word 'hypocrisy’ come to mind?” Santorum asked.
http://articles.latimes.com/2012/feb/18/news/la-pn-santorum-mocks-romney-on-olympics-turnaround-20120218
If these political Republican puppet VP hopefuls would have done right during their previous 8 years of failed Republican rule, we wouldn't even be worried about the fiscal disaster that their party brought on the 99% American People! Stop playing political games! It's too late now anyway, so try doing something NOT CORRUPT OR POLITICALLY-MOTIVATED! Your corrupt Republican OIL & FINANCIAL corporate MONARCHS brought on our economic woes, made SLAVES OF US & caused the GLOBAL ECONOMIC COLLAPSE, all because of CAPITALISTIC GREED!
These two guys are a walking joke.
Two repubs spouting off about fixing the economic mess their party has gotten us into for the last 11 years is a joke even my 5 year old niece would laugh at.
Just so these two don't get their little bubbles busted, their man Romney doesn't have a snow ball's chance in he@# of being elected.
What a joke! I do not recall hearing a peep when the Repubs slashed taxes and continued spending like a bunch of idiots. Not to mention they openly voiced they want Obama to fail and have obstructed everything possible. Ryan is the biggest joke there is. Give Grover a big kiss Paul.