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Subscribe to RSSWith three weeks to go to avoid the fiscal cliff, President Barack Obama will travel to a Detroit auto plan and attempt to sell his plan to raise taxes on the top two percent of Americans.
The “fiscal cliff” end game… If there’s going to be a deal, Obama, Boehner, and Congress need to start the heavy lifting ASAP… Kristol vs. the Wall Street Journal on caving on the tax rates… Motoring! Obama delivers remarks at 2:00 pm ET at a Detroit Diesel plant in Redford, MI… And in Michigan, the president will set foot in the state featuring the nation’s latest labor battle… The hits keep on coming for Susan Rice… The upcoming immigration push… Hillary and 2016… And meet Markwayne Mullen.
*** The end game: We’ve told you that the last couple of weeks in Washington’s fiscal debate have mostly been about P.R. and posturing. Like a student in college or a reporter working in the news business, the real work in Congress typically doesn’t happen until there’s a real deadline that’s rapidly approaching. Well, we’ve now entered that deadline phase in the negotiations between President Obama and House Speaker John Boehner. If the plan is to get something passed by Friday, Dec. 21 (right before the Christmas holiday), then the legislation has to be written by Dec. 18. And that means that Obama and Boehner must reach an agreement by Dec. 14-15, if there’s going to be a deal. So the time for posturing and P.R. is over. This week, we’ve reached the phase where both sides will begin rolling up their sleeves to do the heavy negotiating. Both Obama and Boehner know this, which is why they did meet behind closed doors yesterday. The question now is: Will there be a BIG deal that includes serious entitlement hits in addition to major tax reform? Or will it be JUST taxes and a punt until the debt ceiling? There’s not much of an “in between” at this point.
Chip Somodevilla / Getty Images
Speaker of the House John Boehner, R-Ohio, talks with reporters outside his office in the Capitol Dec. 7, 2012 in Washington, DC.
*** Kristol vs. the Wall Street Journal: In addition to yesterday’s news that the president and the speaker met, Sen. Bob Corker (R-TN) became the latest GOP lawmaker to suggest that Republicans acquiesce on raising tax rates on the wealthy to get entitlement cuts. And that’s a stance the Wall Street Journal’s editorial page today criticizes. “So it's a shame that Republicans are playing into Mr. Obama's hands, negotiating in public among themselves, prematurely giving up on the tax issue and undermining House Speaker John Boehner in the process. Mr. Obama isn't going to blink on the budget if he thinks Republicans are going to blink first, and so far the emerging GOP position seems to be to surrender on taxes first and hope Mr. Obama will have mercy on them later on entitlements.” But the Weekly Standard’s Bill Kristol hits back at the Journal. “Most Republicans will go along soon after January 1 with what will now be the Democrats' tax cutting agenda. If the House Republicans now follow the Wall Street Journal editors over the cliff, the only effect, I'm afraid, will be to turn a manageable tactical retreat in December into a panicked strategic rout in January.” There is good news for Boehner in all of this: The lack of consensus among conservatives gives Boehner more running room to cut the deal he thinks is best, rather than over-worrying about specific conservative constituencies. Remember, the House GOP leadership won’t say it publicly, but they’ve signaled privately that under the RIGHT circumstance, they’d go to the floor of the House with less than a majority of the majority.
Former Michigan Republican Governor John Engler, who is the president of the business roundtable, joins The Daily Rundown's Chuck Todd to talk about President Barack Obama's trip the Michigan, the fiscal cliff, and Michigan's 'right to work' law.
*** Motoring! Your White House fiscal-cliff photo-op of the day takes place in Michigan, where the president delivers remarks at a Daimler Detroit Diesel plant at 2:00 pm ET in Redford. Per the Detroit Free Press, Daimler, which owns Detroit Diesel, is announcing “a new investment to expand U.S. production and jobs... The White House said the investment is expected to be $100 million or more and, with it, Daimler Trucks North America will become the first heavy-duty vehicle equipment manufacturer on the continent to build a fully integrated powertrain from on production facility.” So today’s even will be a mixture of the fiscal cliff and this Daimler news.
*** Michigan’s labor battle: Yet when Obama visits Michigan, he’ll be setting foot in the state featuring the nation’s latest labor battle. “With Michigan lawmakers poised Tuesday to give final passage of right-to-work legislation, unions and their supporters plan to mass outside the Capitol that day as part of a last-ditch bid to derail the fast-moving campaign to limit labor's power,” the Detroit News says. “If lawmakers reconcile the bills and pass a final version Tuesday — as expected — Gov. Rick Snyder has said he will sign it, making Michigan the 24th right-to-work state and dealing a major blow to organized labor in one of its traditional strongholds.” Out of all the new Republican governors who were elected in 2010, Michigan’s Rick Snyder was always viewed as the least ideological of the bunch. So when Scott Walker in Wisconsin, John Kasich in Ohio, or Rick Scott in Florida were pursuing controversial changes and legislation and confronting the labor movement, Snyder -- who calls himself “one tough nerd” -- stayed away from the ideological wars and focused on the economy. In fact, he even appeared to support Obama’s auto bailout. But now the Michigan governor finds himself knee deep in the same kind of controversy we saw in Wisconsin and Ohio. By the way, while we do expect Snyder to greet the president at the airport, don’t expect to see Snyder with the president at the Chrysler event because it’s taking place at a UAW facility.
*** Hits keep coming for Rice: It’s no longer Benghazi, or even the Keystone XL Pipeline. Critics of Susan Rice are now pointing to the Obama administration’s failure to intervene in the atrocities in the Democratic Republic of Congo. The New York Times: “Specifically, these critics — who include officials of human rights organizations and United Nations diplomats — say the administration has not put enough pressure on Rwanda’s president, Paul Kagame, to end his support for the rebel movement whose recent capture of the strategic city of Goma in Congo set off a national crisis in a country that has already lost more than three million people in more than a decade of fighting. Rwanda’s support is seen as vital to the rebel group, known as M23.” And the Times reports that Rice has been viewed as shielding Kagame. And then there’s a New York Times op-ed from journalist Salem Solomon, who accuses Rice of showing “a surprising and unsettling sympathy for Africa’s despots.” This is the problem for Rice as long as President Obama doesn’t officially appoint her (or John Kerry) to fill the secretary of state position: She’s dangling like a piñata for critics to whack, without an official campaign to defend her. But with the fiscal cliff taking up more and more time and this secretary of state issue becoming such a headache for the administration, there’s a very real chance the president doesn’t announce any new cabinet members until AFTER the new year.
*** The upcoming immigration push: Over the weekend, the Los Angeles Times noted that the Obama White House is preparing for a big push on comprehensive immigration reform after the “fiscal cliff” negotiations end. “Senior White House advisors plan to launch a social media blitz in January, and expect to tap the same organizations and unions that helped get a record number of Latino voters to reelect the president. Cabinet secretaries are preparing to make the case for how changes in immigration laws could benefit businesses, education, healthcare and public safety. Congressional committees could hold hearings on immigration legislation as soon as late January or early February.” More: “Democratic strategists believe there is only a narrow window at the beginning of the year to get an initiative launched in Congress, before lawmakers begin to turn their attention to the next election cycle and are less likely to take a risky vote on a controversial bill.”
*** Hillary and 2016: On Sunday, the New York Times ran a “Hillary 2016” story, and we all should prepare for these kind of stories once a month until she decides to run (or not) for president. “Right now, aides and friends say, Hillary Rodham Clinton’s plan looks like this: exit the State Department shortly after Inauguration Day and then seclude herself to rest and reflect on what she wants to do for the next few years. Those who have invited her for 2013 engagements have been told not to even ask again until April or May.” The Times does make this important point: If she does want to keep the presidential door open, her options are limited. “The more serious she is about 2016, the less she can do — no frank, seen-it-all memoir; no clients, commissions or controversial positions that could prove problematic. She will be under heavy scrutiny even by Clinton standards, discovering what it means to be a supposedly private citizen in the age of Twitter. With the election four years away — a political eon — she will have to tend and protect her popularity, and she may find herself in a cushy kind of limbo, unable to make many decisions about her life until she makes the big one about another White House try.”
*** Meet Markwayne Mullin: NBC’s Carrie Dann has profiled 10 new members to watch in the next Congress. Today’s profile: Markwayne Mullen. When his father's illness forced Mullin to quit college and take over the family plumbing business, the 20-year-old and his wife turned a flailing enterprise into a small eastern Oklahoma empire. Mullin, now 35, won the House seat vacated by retiring Rep. Dan Boren, running under the banner "A rancher. A businessman. Not a politician!" The Tulsa native -- a social conservative who vehemently opposes "amnesty" proposals -- has promised to take a no-frills attitude to the halls of Congress. Casually dressed on election night, he joked with supporters that he defied his campaign staff's request that he wear a suit to deliver his victory speech. "They got me this far, and boots are going to take me all the way there and bring me all the way back" from Washington, he said.
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Read 308.2 troubled child
This fiscal cliff stalemate gives me a headache. The Republicans need to " Man UP " . Thety need to stick to their principles. The speaker should put his plan to the House, showing the deductions to cap, change etc and put forth the recommended spending cuts by area and amount . Then approve and put this into the Senate's hand.
That takes the Republicans off the hook and puts pressure on the inflexible Democrats. The Democratic spending is out of control .
Most likely unless we really cut spending by about $15 trillion over the next 10 years, our legacy will be destroyed.
What legacy are you referring to?
our only hope now is 12-21-12..
lets start over....
That is pretty funny!
just wishful thinking....
The Texas way
Shootem up,go to war,never pay for it and stand their with a dumb empty expression on your face durring the 911 attacks
Think George bush,,looooooosers
perhaps you should join the army
mrabil
i live in oregon,,,,sounds like you assume to much...
is that also how you go through life,,,just assuming????
must be lonly in there
SOMEBODY answer me:
So let me see if I understand this correctly:
We borrowed the money from the Chinese for the stimulus this company (A123) received. Which means the Chinese get a company with no debt and at a bargain price and we still have to pay back the money we originally borrowed plus the losses with interest. I don't think I need to explain to anyone how bad that is.
Man...that Obama is a genius....we are SO lucky to have him at the helm
I did answer you. No president has the ability to know if a company is going to succeed or not. Perhaps the idiot is you?
It isn't going to happen, trouble.
They don't want to see logic or reason. They are like a bunch of menstruating teenage girls. Yell, scream, call names. All emotion, no logic.
85B in taxes will solve all of the world's problems. Don't worry about the 3.6T in spending from Obama each year.
85 Billion = 3.6 Trillion in Democratic math.
Austerity, anyone who invests large amounts of capital into a business should ensure that business has a viable business plan. Non-government venture capitalists scrutize the business carefully to ensure their investment is not wasted. government does not. just gives them money in the interest of "jobs" "green initiatives" and other manipulations. they should know whether something has a reasonable chance of success before giving them money. government is also responsible for many market foces via regulation, taxation, mandated benefits and wages, so on and so forth...
My god man they went bankrupt back in October. This is old news! What happened today was the result of the bankruptcy auction. Which by the way may very well be rejected by the Committee on Foreign Investment. Try and keep up will you?
TROUBLE:
Would you please post the TOTAL AMOUNT OF MONEY, under the spending plan that gave some to A123, that went out to stimulate those businesses???????
I know you won't because it looks rediculous when you focus on what is less tha 0.02% of the money spent as a failure of the whole program.
That is just one of thousands of examples of selective use of statistics to support an argument that doesn't hold water.
Don't take it personal. Both sides of the aisle are guilty.
Ever wounder why texas should have never become a state,thank George bush
Trouble
The debt started under your daddy bush boy,,
Are You that thick son?
I really haven't watched the news since the election ..... I'm feeling - what is the point....... the liberal news media is what is running this country and THEY know it - the fiscal cliff news is just the latest example ...... there is no more truth in journalism........ You democrats have BEAT ME...... Obama refuses to build consensus...... Obama's momma evidently NEVER told him how to be a leader....... only a campaigner.....
We own a small business - have blown through our savings - maxed out our cards - what's next .... bankruptcy ....... we are in our 60's....... wasn't supposed to be this way.....
Pelosi said in 2008 "We are NOW in charge" and she wasn't kidding... she knew she could manipulate the news media - they would ONLY print news that had a democratic slant or better yet - NOT print the accurate news at all..... and if the liberal news media has their way - FOX will be no more...... I'm sorry but this is getting to sound more and more like what was happening in the 1930's before WWII..... in Germany..... and all your smug - brainless comments ...... you are talking to the hand........ YOU WON !! I GIVE UP..... the government can NOW take care of ME......
disguste Why do you watch the liberal media why not watch another news agency?
PROG: It is depressing enough watching the liberal media tell the truth....FOX might drive one to suicide. Lately FOX reminds me of the guys with "THE END IS COMING" signs on the streetcorner.
:)
Oh believe me - in the past I watched several networks - ABC, CBS, CNN and FOX - and I found FOX the ONLY channel that spoke more TRUTHS than any of the other......... but also in the print media - liberals have that around their little sticky fingers......... and when Obama has a news conference... where are the questions then........ THEY shield him.....
and Tom you are sooo naive to even think that the libreal news media always speaks the truths....... oh they speak "their twisted one-sided truths" and you naive-thinking democrats buy it hook line and sinker....
Both parties have their issues.......... and consensus is NOT in their vocabulary......... and we are all the losers......... only a little more personal for me as I could be losing everything.........
Destruction, at the hands of theological bigots and racist trolls in the Republican Party can never be blamed on Obama, who stated clearly that he would increase tax rates on the rich! Get over it, Tea Wackos! You lost! Holding the American economy hostage will not make us look any more favorably on you in the next election as we did in this last one, idiots! Get off your soap boxes, and do something the majority of all Americans want, for a change....raise taxes upon the rich, who refuse to invest those riches into fair pay, better work conditions, or agreements with union representatives! We don't need unmitigated greed, without placing some responsibilities upon it!
Who dares about a bunch of redneck ass holes in tx?
For the smart states,we have smart people tx well it had oil money some it,corps,but it is still the wild west full of cowboys,,lmao
great spelling ..you go to school in texas....hahahahaha
Another state full of pot heads oregon,,well that and rain.
you are right..potheads everywhere...its a blue state...whats that tell ya....lololol
I know copy and paste
I don’t care for old Warren, but I must admit I agree with this. The same should be true for the President and the Supreme Court.
Warren Buffet is asking everyone to forward this email to a minimum of twenty people on their address list; in turn ask each of those to do likewise. In three days, most people in the U.S. will have the message. This is one idea that really should be passed around.
We're ALL in this mess together ... it's up to us to fix it ... for our kids! Read and pass on to 20 of your friends...
Warren Buffett, in a recent interview with CNBC, offers one of the best quotes about the debt ceiling ...
"I could end the deficit in 5 minutes," he told CNBC. "You just pass a law that says that any time there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election." The 26th amendment (granting the right to vote for 18 year-olds) took only 3 months and 8 days to be ratified! Why? Simple! The people demanded it. That was in 1971 - before computers, e-mail, cell phones, etc.
Of the 27 amendments to the Constitution, seven (7) took one (1) year or less to become the law of the land - all because of public pressure. Warren Buffet is asking each addressee to forward this email to a minimum of twenty people on their address list; in turn ask each of those to do likewise. In three days, most people in The United States of America will have the message.
This is one idea that really should be passed around. Congressional Reform Act of 2012
1. No Tenure/No Pension
A Congressman/woman collects a salary while in office and receives no pay when they're out of office.
2. Congress (past, present & future) participates in Social Security.
All funds in the Congressional retirement fund move to the Social Security system immediately. All future funds flow into the Social Security
system, and Congress participates with the American people. It may not be used for any other purpose.
3. Congress can purchase their own retirement plan, just as all Americans do.
4. Congress will no longer vote themselves a pay raise. Congressional pay will rise by the lower of CPI or 3%.
5. Congress loses their current health care system and participates in the same health care system as the American people.
6. Congress must equally abide by all laws they impose on the American people.
7. All contracts with past and present Congressmen/women are void effective 12/1/12. The American people did not make this contract with
Congressmen/women. Congress made all these contracts for themselves. Serving in Congress is an honor, not a career.
The Founding Fathers envisioned citizen legislators, so ours should serve their term(s), then go home and back to work. If each person contacts a minimum of twenty people then it will only take three days for most people (in the U.S. ) to receive the message. Don't you think it's time ?
THIS IS HOW YOU FIX CONGRESS!
If you agree, pass it on. If not, delete. You are one of my 20+ ... please keep it going, and thanks! We're ALL in this mess together ... it's up to us to fix it “It is not only what we do, but also what we do not do, for which we are accountable.” - Moliere
I assumed by your posts you are,a dumb ass,,
not what your wife said....lib...
Here are my ideas for solving the financial crisis:
1. Dock all of congressional pay and benefits if they fail to preform and create a balanced budget as directed.
2.Stop all foreign aide for one presidential term - let's get our own house in order.
3.Treat all merchandise entering this country as imports no matter what company manufacturerd them, and impose tarriffs on all imported goods. If you are a U.S. nbased corporation and you have offshore factories, your merchanddise is an import. No more corporate welfare.
4. Do away with all government sponsored motor vehicles and issue mileage vouchers for gasoline. Elected officials do not require $65,000 a year chauffers - take a taxi. The same goes for all free government ccell phones.
5. Social Security and Medicare are NOT entitlements - we paid for these involuntarily out of our paychecks. Welfare and Food Stamps are entitlements and need a serious overhaul. We need to stop paying children to have children. At what point do we recognise that an unwed mother, with half a dozen illigetimate children and all different fathers, is using the system as a new cash cow? Why should people on Food Stamps be allowed to buy cigarettes, beer, Porter House steak, Lobster, and lottery tickets - really?
6. We know where every mad cow was birthed - use the same technology to round up illegal aliens and send them packing. No more free education and healthcare unless you become a bonifide U.S. citizen. Crossing the fence at the border is not an Olympic event worthy of a prize like social services - get your green card.
7. Congress shall enact no laws that they are exempt from.
8. Revise our national monetary system from general fund banking to dedicated funding to prevent double dipping by Congress. You cannot spend the same money twice. Stimulus money does not work - issue low interest loans instead. You cannot spend your way out of debt. GM took stimulus money, beat up on the auto union, then moved R&D and production to China, at taxpayer expense.
9. NASA needs to roll back expenditures. I could care less about the Crab Nebula several million light years from earth. We have more pressing issues with rogue comets aimed at earth out of the Keiber Belt. Space exploration should be an internationally funded program anway.
10. We are not the world cop and certainly not the Saudi's mercenaries. While having a strong military is important, we cannot allow ourselves to go bankrupt protecting countries that burn our flag or our embassies.
Your comments in writing are always welcome.
Some of these posters don't seem to have a clue about taxes and history.
We have the lowest tax rate for corporations and wealthy individuals in America's history.
During Ike it was around 75% on wealthy individuals....
During Reagan it was 50%
Today, it is 34% with all the neat deductions and loopholes, so that many wealthy end up paying as little as 6% tax on Millions ( see Mittens and Buffet )
Since the republican'ts love Reagan so much, I say we go back to those tax rates....and close ALL deductions excepting charitable donations.
That would be a good start.
They can't. Fox wouldn't allow it.
Yeah... but the lowest corporate tax rate in our history are still the highest on the planet.
The Republicans want to plug the holes... Obama turned them down. Because then he couldn't pay a 20.5% effective tax rate like he did last year. On his 2.2 million.
DJ,
The corporate rate is 35% which is one of the highest among industrial nations.
However, because of deductions, almost all rarely pay this rate.
As a matter of fact, if you look at the effective rate of many large corporations, they often pay a NEGATIVE tax rate. ( GM is a good example )
This does not help!
total mythology that people paid higher taxes back then, even at those rates. those higher rates back then were never paid or enforced, unbelievably full of ridiculous deductions and loopholes. rich people actually pay more now, even at a lower rate, then they did back then. and our government has taken in more and more each year, we just have been seriously outspending our revenue intake.
instead of believing the populist hype, or the garbage some intern "researches" for an internet article, look up the info yourself. historical tax tables are available on the IRS website, you just gotta go look for them and download.
Large international companies take advantage of loopholes, of which SHOULD be plugged... I will not debate you there my friend.
But small businesses here in the U.S. get crushed. And we are the businesses that hire American workers and keep the jobs in the states because we can't afford to move out of the country.
And now, many have to lay off workers or close shop.
Look at Starbucks. They don't pay any tax in the UK even though they have one on every corner like here in the states. Because they have their Euorpean HQ in Luxembourg.
If I could do it, I would do the same. But I can't compete with big international companies.
there's more to corporate taxes than just the federal rate. local rates, property taxes, ect... keep adding to the tax bill...
taking more money is never a sustainable answer to a spending problem.
That is also true BD. Which is why lowering taxes, Dionysus, and closing loopholes actually makes more revenue than raising rates, which is just a scam. It benefits no one, and hurts small business owners with fall-through entities.
In the UK they have a VAT to which Starbucks contributes just like every business.
djo, that doesn't appeal to the masses. they have to feel that someone is paying more because they have more to make it seem fair. and a lot of those loopholes are the same one small business and normal people take, just has a smaller effect when dealing with the lower dollar amounts involved.
You mom went to school in the same Tailer you,did,,
Charles
That's a great start
St. Regan,,the last decent GOP you could ever speak of,except he raised taxes too,,
Ever time the GOP gets out of line,just mention the word. Bush,,lmao
D Omega I'm out of here. The more they come the dummer they get.
Picking up what you puttin down.
Have a good one and keep up the fight.
You can't fix stupid,,I mean the GOP,tea taliban
thank you for demonstrating your "can't fix stupid" point with your 'intelligent" comments... really?! LMAO
MR ABILITY... we get it... you are a liberal with a third-grade education (at best). You are an Obama cheerleader that isn't smart enough to use the spell check button that MSNBC provided for people like you.
You have nothing to offer the discussion except misspelled insults and name calling.
Why not make a valid point... anything... we know your position... just back it up with a fact or two... convince us idiot conservatives. Or stop posting.
Don't worry...I have pull with Newsvine.....I have laready got three people banned from this site. Mrability contributes nothing and can only offer insults and name calling. He will be gone soon.
Gee, Chris: soooo many times I wish I could do that. I have a list of names that post nothing but vulgar garbage.
Hope I'm not on your list.
Raising the rates on the top 2% will not do jack s*** to help this economy; not when you make decisions to invest in companies like A123 & Solyndra to fix the mess....this is like Economics 101, and we are getting it wrong.....he went to HARVARD for God's sake, doesn't he understand ANYTHING ?
the ass obama just wants to play class warfare.....it is what he learned from his communist mentors.......man we are stuck with this asswipe president for another four years..oh well.....block and obstruct obama at every juncture......he loses, america wins.....
class warfare gets them elected. then they get more power to payback their campaign contributors. dont hate the dems, they are playing the crook game better. all you have to do is make people "believe" and you can rob them blind...
nick nack mcpaddywack give yer dog the bone....ya lost honey...deal with it....or move.....
obama is an ass......in every way imaginable.........what a douchebag
But buying an American company, splitting it up and selling off it's parts to the chinese is perfectly okay?
Doin: And borrowing from China is better right??e
you have NO RESPECT mcpaddywack !!!!!!!!!!!!!!!!!
Freaky,
Keep in mind the last administration put two wars on the Chinese plastic.