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Subscribe to RSSHouse Minority Leader Nancy Pelosi, D-Calif., said Tuesday that she backs President Barack Obama's newest proposal to avert the fiscal cliff, defying some progressive Democrats who object to an included cost-of-living calculation that could effectively cut entitlement benefits to Social Security recipients.
Rep. Nancy Pelosi, D-Calif., shares her thoughts the mass shooting in Newtown and the fiscal cliff negotiations on Capitol Hill.
Asked by NBC's Andrea Mitchell if she believes she can rally enough Democratic support to pass the White House's plan, Pelosi responded "Yes, I do."
"I believe the president has demonstrated great leadership in what he put forth," she said, arguing that the White House plan would help avert the cliff, create consumer confidence and avoid a credit rating downgrade.
Pelosi pushed back on progressive opponents of one compromise measure that would modify the way cost-of-living increases are calculated to determine Society Security payments. While some in the Democratic Party say that the change -- called "chained CPI" -- would effectively cut Social Security payments, the minority leader said Tuesday that the effects on poor recipients would be minimal once all of the specifics of the deal are worked out.
"The details of this are not all ironed out, but they all mitigate for helping the poorest and neediest in our society, whether they are [Supplemental Security Income] recipients, whether they're 80 and older, or whether they're truly needy," she said.
But, she added, she would join some of those progressive Democrats in opposing an increase in the Medicare eligibility age.
Kevin Lamarque / Reuters
U.S. House Minority Leader Nancy Pelosi speaks to reporters in the Capitol in Washington December 13, 2012.
Pelosi also came out against House Speaker John Boehner's "Plan B" proposal earlier Tuesday to push a standalone measure that would address tax rates for earners under $1 million.
"Plan B, I would call it 'Plan Befuddled," she said of Boehner's suggestion, adding that the measure cannot pass both houses of Congress.
'It's a tactic, but it's not a serious proposal," she said.
Republicans have pointed out that Pelosi herself suggested in May that tax rates should be maintained for all earners under $1 million, the same threshold that Boehner offered today.
Pelosi said Tuesday that her own proposal was in part a way to "smoke out" the opposition in getting Republicans to agree to at least some rate hikes, a move that they have now made in -- Pelosi argues -- a victory for the president.
"I'm glad he's taking up some of my suggestions," she said of Boehner. 'My next suggestion would be to put something on the table - as we were suggesting then to smoke out the Republicans - at what level would you raise the rates on the wealthiest people in this country? Not 'would you raise them at a million dollars?' That was the point of that exercise."
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I've sent an email to the conservative Tea Party members in the House demanding that they stand firm against the Boehner capitulation to the Leftist Democrat addiction to stealing from those who are successful.
If Boehner refuses to support the 10's of millions of conservatives against these marxists, we will remove him and get some one who will defend liberty against the tyranny of Obama
Larry Robinson: The only thing you will do is talk, and fall back in it. In case you haven't noticed, The Democrats won the election! " Got It !"
Leftistfasist: Grow up! You lost the election! You'll do it our way now! "Dang" don't you tea pubs ever stop whining!!!
So Ms Pelosi finds it entertaining to lie to the American People? A $1 Million Dollars ceiling to smoke out the Republicans? So now she admits to all that she lied to all of us. Amazing and disgusting as hell, coming from an elected representative of this country. Maybeshe should consider another line of work. She can not be entrusted with the powers allotted to her in her position.
Smokie: You are delusional, to say the least. "Stop Whining Re Pub!"
So older Americans and the even-richer will take a hit.
I don't have much sympathy for them - nearly all of them voted Republican!
Voting Republican has consequences, senior citizens.
Leftisfacist: We got rid of Romney! Why don't you join him." Your talking like a simpleton!
Leftistfacist; The election is over! it is time to admit defeat! like a good loser!!! Romney did! now Boehner, Mitch, and Grover do you need to fall off a cliff to understand it?
another identity another time kicked off
If the gov. would pay all the people unemployed say fourteen million of them, 800 dollars each week tax free, for two years it would cost 1,164,800,000,000 dollars. This would, stimulate the economy, boost manufacturing, create jobs and increase tax revenue. It could, lift real estate markets and help to increase , construction jobs. This would save money, by stopping all food stamps for these people, and unemployment money Also, it could reduce the amounts they pay in food stamps and other help later, If they were to apply, for this in the future, through means testing them at that time ! allow them to find work, as they collect this money, but, pay regular taxes on any money earned. This would create more tax revenue, This would strengthen the middle class workers, while saving Federal and States money; As it makes the base of our economy stronger. Also, if they take 20% from the 800 dollars from the top and give it to the states every week, it would be 2,240,000,000 dollars each week going to states,to help them balance their budget deficits and hire workers. This would create more good paying jobs and stimulate business. Also, it would create more tax revenues and this all would help to fund, SS and Medicare. Being optimistic, I think it would bring the GDP numbers up to around 7 or 8 %, during this time.The government, would have a better environment to cut waste and spending during these two years. Also, It could save the gov. money , when the health care goes into effect because, at that time many would be able to pay more for their health care. There are other benefits in this plan not mentioned, but this would get the country back on track, and it would more then pay for itself.
Also, They should still tax the 2% and , still cut waste and spending to pay down the budget deficit! They should also have the banks, corporations, oil, big business and millionaires, and billionaires pay cash money on a sliding scale to pay on the budget deficit!
Leftists: Stop foaming out your own shame! I didn't call you a sore loser! Ha Ha Ha !!!
NO NO NO Mr President, don't cut on the elderly and middle class!!!! PLEASE DON'T CAVE IN ON THE PEOPLE!!!!!!!!!!!!!!!!!!!!!!!!!
Pelosi needs to go crawl back under a rock, Obama has zero leadership, and the media needs to stop floating all the BS and report the facts when the are ironed out because unlike Obamacare the people regardless of party want to know what is in it ahead of time.
President Obama campaigned for raising tax rates on households making more than $250,000 a year, but he has now proposed allowing Bush-era tax rates to expire for households with more than $400,000 a year. In talks with House Speaker John Boehner, Obama also reportedly accepted a Republican proposal to cut Social Security by using a different formula to calculate cost-of-living increases. “He’s more serious about that than I would like to believe. The last thing you want to do is cut Social Security benefits,” Sen. Bernie Sanders told radio host Ed Schultz on Tuesday. He cited a new Washington Post/ABC News poll that showed a clear majority of Americans, 74 percent, would go along with Obama’s initial proposal to raise taxes on those with incomes over $250,000. The same poll found 60 percent of Americans said it is unacceptable to change the way Social Security benefits are calculated so that benefits increase with inflation at a slower rate than they do now. Sanders noted that the White House as recently as three weeks ago said that Social Security was off the table in the year-end deficit talks. “I want him to keep that promise,” Sanders said. “I hope the president stays strong.”
Why did we spend 800 Billion more in FY2012 that we did in FY 2008?? Our Tax Revenue was about the same.
When Romney was mistated about the 47%... he was talking about how no matter how much logic he used, no matter how much he tried, 47% would never listen. They don't want to hear his message. They don't want to know the facts. Kind of like this discussion group. About 47% will not face the facts that we have a spending problem and 85B in tax hikes won't make a bit of difference when you are tacking on 1.2T in debt every year.
But after that whole 47% thing, democrats turned on their progaganda machine and had Obama start spouting "I want to represent ALL of the American people, not just some of them." And here he is failing to represent 1-2%, because discrimination is easiest when targeting a minority group.
And... yes... he is selling out the middle class as well. Five monster take hikes will take effect in 2013 as part of Obamacare. And everyone will feel the pain. But the people losing their jobs when the economy takes a down-turn won't be the 1-2%... no it will be the middle class. And you can thank you savior, Barack.
If Romney had just stopped at the comment that "47% would not vote for him", he would have been okay. He then went on to say what he really thought about that 47%, a large portion of which are seniors, students, and working poor....conservatives AND liberals. Nice try though. For that you get a lollipop.
The result of increased tax on the high income earners
FY2013 ($ Billions)
Budget = $3803 {Proposed}
Income = $2902 {Estimated}
Deficit = $901
% Deficit Spending = 23.7% and in 2010 it was 41.8% which is where we began to say that 41¢ of every dollar in spending was borrowed money.
The additional tax on income above $200K/$250K will fund our Government for only 8 days which is 2.7% of our annual budget and covers 9.3% ($83.4 Billion) of our deficit. (Some Republican Senators says 11 days, 11 days would be 3.0% and $114.6 Billion not borrowed)
According to many, taxing the high income earners won't do anything to help reduce our deficit and/or address out debt and spending problems. That means a reduction of over $80 Billion a year in borrowing is meaningless.
In a compromise effort John Boehner has said he would agree on a tax increase for incomes above $1 Million. This would reduce the additional tax revenue from just over $80 Billion to just under $50 Billion. President Obama's counter offer to increase taxes on incomes above $400K would split the difference and generate about $65 Billion a year.
http://en.wikipedia.org/wiki/2013_United_States_federal_budget
http://en.wikipedia.org/wiki/2010_United_States_federal_budget
http://www.breitbart.com/Big-Government/2012/11/28/Obama-Tax-Hike-On-Rich-Will-Fund-Govt-For-8-Days
Hillary Clinton for president? yes! Porkbarrel Pelosi needs to retire... who cares what she says.. if anything she should keep her mouth shut and not damage Clintons name by recommending her.
Funny but a fascist is an extreme right party taken over by corporatism.
Yet we spend $230 million on the f35 for 1 plane. $440 million on just 1 f22 that no one wants to fly for fear of death by suffucation the f35 which is steps back from the A10 costs the american government over 1.3 trillion for its life uses and maitenance.
Can we just go over the cliff already. I am sick and tired of the GOP foolishness let's do it and the President can clean up the mess in 2013 for those Americans making less then $250,000.
Eye, once all the Bush tax cuts expire, it will take Congress (i.e., the House and Senate) to put a law together. I doubt that will happen. Actually, I hope it won't happen, we all need to pay more in taxes and pay all of our contributions to SS.
Hey slodon why did you pay more in 2012 then 2008 for a loaf of bread. Duh!
Thanks to W. Dennis the beat goes on. How would you like to have a credit card like that adminstration created?
The 2 Santa Claus theory at work again. Look it up some time.
As we go off the cliff ,it will be the best deal
Hey, Obama isn't going to go over the cliff. Both sides are doing good cop/bad cop game on country.
Medicare, Social Security and Medicaid have been promised to the top 2%. All to keep the Sequester from ripping the Defense Budget. Obama has been bought. He needs to act out his good cop role and then, "well folks I tried to keep your stuff off the table." Ha! Ha! Wait and see your SS go bye bye! He also plans on doing Tax Rate reforms in the Fall of 2013. Top rates raised in December, get lowered below 35% rate in 2013, after entitlements have been gutted.
We pay the highest cost of any civilized society for healthcare and drugs. Why is that? Medicare part D. So the W administration could help keep his buddies and lobbyists comfy.
Is'nt it funny how anybody that uses sarcasm with tard appears to be that way. No checking for real facts just spew out anything so you can say tard.
I love a nice cliff dive
The backs of the GOP will break.
The GOP are on the way out
One more thing, and then I'm done. The term "Progressive" is totally propaganda.
For all of the right-wing propaganda against this lady it appears from this article that she has the good of the nation in mind. It is about time her counterpart in the Senate does the same thing. Each are minority leaders in their respective Houses. It's time Mitch McConnell man up.
Congrats Mr. President for once again throwing the poor and elderly under the bus. So proud of you...