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Subscribe to RSS“President Obama is kicking off budget dealings with congressional leaders with new leverage from last week's big win, but he confronts a decidedly tricky path to avoiding a market-rattling ‘fiscal cliff’ that could imperil a still-fragile economy,” USA Today reports. “Obama's GOP rivals promise greater flexibility on new tax revenues, but Democrats face pressure from liberal interest groups urging the president to take a hard line and avoid cutting big benefit programs like Medicare and food stamps. It's up to Obama to navigate the course toward an agreement.”
Apparently, “Jill Kelley skydived with commandos,” per USA Today. And was Paula Broadwell thinking of running for the Senate in North Carolina, but Petraeus talked her out of it?
Time magazine notes that the Obama campaign raised nearly $700 million online. "In total, according to new campaign calculations acquired exclusively by TIME, the Obama team raised about $690 million digitally in 2012, up from about $500 million in 2008, according to a senior campaign adviser. That number includes all contributions that were given electronically, including some donations that were generated by high-dollar fundraisers but logged through the website."
More: "When counting only fundraising that was initially generated by digital efforts, including email, social media, mobile and the website, the 2012 campaign raised $504 million, up from $403 million in 2008."
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There is no "fiscal cliff". That is just a scare tactic designed by corporations to prevent Congress from enacting the cuts to the corporate welfare that have already been made law.
Everyone talks about fiscal responsibility, but no one wants to act.
For each and every dollar they put back into spending, Congress needs to pay for it with additional taxes or cuts elsewhere. Its time they actually do something, instead of just trying to prevent President Obama from getting a Second term.
The party that draws the line in the sand will be the party voters throw out in 2014.
There is, indeed, a fiscal cliff whereby the "Bush Tax Cuts", later extended by Obama, WILL EXPIRE, and everyone who is paying tax will see their tax rates increase.
Furthermore, bogus terminology such as "corporate welfare" merely show the naivete of those who unwittingly pour out the term. Most often, this is used in conjunction with oil coprporations deducting research and exploration costs as a cost of doing business ... which it is to anyone with basic accounting common sense !
Obama already HAS a second term due to the election! I am not sure where drip has been lately, but the election was last week and the American people re-elected Obama despite high unemployment, massive increase of over $5.2 trillion in national debt and NO BUDGETS ! The vagueness of "Hope and Change" continues to be vague.
The reality is that there is no cliff. A cliff is a sudden, dramatic shift, in this case in fiscal spending and taxes. The spending cuts do not all take place on January 1. There is not a sudden change reducing income by thousands of dollars on January 1.
There are some very important parts of the sequestration which need to be enacted. How will the US Government ever begin to cut the debt if we don't act.
The country did VERY well under the tax rates in effect under President Clinton. Spending at those levels was also sufficient.
IMO, we need to make the cuts and increase the taxes. There may be a short term recession, but in the long term, the country will be better off if we reduce the deficit and reduce the debt.
BTW, if you want to know where the cuts will take place, look at: http://www.whitehouse.gov/sites/default/files/omb/assets/legislative_reports/stareport.pdf
Its time to put the BS about controlling spending into action.
really jim, i think not. better do more research. corporate welfare is alive an well and please dont give us a double whammy, because thats what oil gets a double deduction created very long ago by gov to give companies exploration money, this has nothing to do with write offs. now is the time to take those gifted dollars and to invest in new energy development and like any investments some will fail but many will suceed.
as far as the election, obama won because people are sick and tired of people like you with your 1% austerity mentality. austerity has no place in a down economy but stimulous does. jobs create revenue which pays bills and as the economy gets stronger the debt is paid down.
a good example of austerity in a down economy is spain, greece, italy etc. it just doesnt work and then it effect all countries.
If you look at what taxes increase and what spending cuts happen, you find out that, in reality, those cuts are not all that bad and everyone really can afford to pay a little more now.
This is not anywhere near the kind of cuts being done in Greece and Spain. The sequestration cuts amount to 0.25% of the budget. In Greece, they are talking about cuts of 30% of the budget. Raw numbers may be similar (Greece's budget is tiny compared to the US) but relative differences are huge.
IMO, the GOP will only do what it is good at, NOTHING, and the tax cuts and spending cuts will take place.