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Subscribe to RSSThe automatic spending cuts, just days away, would cut $85 billion a year, having an impact on federal food inspectors, TSA officers, Department of Defense and civilian workers. NBC's John Yang reports.
President Barack Obama used his bully pulpit Tuesday to warn of calamitous consequences for the U.S. economy should the automatic spending cuts known as the “sequester” go into effect next Friday.
The president warned that the automatic cuts, totaling about $85 billion over the course of this year, would prompt job losses, weakened national security and canceled government services – among other consequences.
“So these cuts are not smart, they are not fair, they will hurt our economy, they will add hundreds of thousands of Americans to the unemployment rolls,” Obama said in a statement at the White House. “This is not an abstraction; people will lose their jobs. The unemployment rate might tick up again.”
The speech featured no new, concrete proposal from the president detailing how he would prefer for Congress to replace the sequester.
NBC's Chuck Todd says it may feel as though the sky is falling (once more) but it's likely the spending cuts will go through March 1, the government will come up with a compromise deal, and they'll punt something else down the road.
Democrats in Congress released a plan last week that called for $55 billion in new revenues from closing tax loopholes and deductions, and additional cuts by $27.5 billion to each the defense and discretionary spending budgets over the course of the next decade.
Obama’s speech was otherwise spent reiterating points he’s made for the better part of the last two months. He said that any sequester replacement should be “balanced” – shorthand for a combination of new tax revenue and spending cuts – and Obama urged lawmakers to approve a shorter-term replacement for the automatic cuts if they couldn’t reach consensus on a broader package by the end-of-February deadline.
Rather, the president, who was flanked by first-responders whose jobs Obama said would be threatened by the sequester, was making use of political optics and the presidential bully pulpit to pressure Congress to act.
Still, the urgency appeared to have little effect on Republicans, who dismissed the president’s remarks as unserious about reaching a solution.
"Once again, the president offered no credible plan that can pass Congress – only more calls for higher taxes," House Speaker John Boehner, R-Ohio, said in a statement.
President Barack Obama voices harsh words toward Republican lawmakers Tuesday while speaking about looming budget cuts.
“Today's event at the White House proves once again that more than three months after the November election, President Obama still prefers campaign events to common sense, bipartisan action,” Senate Minority Leader Mitch McConnell, R-Ky., said in a statement.
Indeed, many Republicans have treated the sequester as a fait accompli; Congress is out of town this week, and lawmakers would only have a handful of days next week to act upon the sequester. Some Republicans have also argued that even if the sequester is replaced, its $85 billion in cuts should set a baseline for offsetting cuts in other areas of the budget.
“I have to say, though, that so far, at least, the ideas that the Republicans have proposed asks nothing of the wealthiest Americans or biggest corporations,” Obama said of the GOP proposal. “So the burden is all on first-responders or seniors or middle-class families. They doubled down, in fact, on the harsh, harmful cuts that I've outlined.”
The president added, as if to drive home the point: “Well, that's not balanced. That would be like Democrats saying we have to close our deficits without any spending cuts whatsoever. It's all taxes. That's not the position Democrats have taken, that's certainly not the position I've taken.”
This story was originally published on Tue Feb 19, 2013 11:04 AM EST
Leave a Comment:
Obama started this mess so Obama should resign. The economy is worst off the when he took over in 2009. He is looking to push blame onto the Republicans.
Blah Blah Blah Party of stupid carries on.
DSTIEBS,
Where it "rightly" belongs.....pun intended.....
wow..some economic recovery under obama if a 2.2% budget cut is going to "devistate" the economy..what b.s.
He got the uneducated and uninformed to vote him back in. Don't you think that by going on tv to tell more lies it would eventually be uncovered by the same uninformed base that backs him, that he is full of horse $h!t? That's like asking for snow in July..."ain't gonna happen".
Worse than when he took office? Your memory is faulty at best, ignorant of the facts at worst.
DSTIEBS, the US is the tale of 2 economies. There is the public sector economy that just continues to roar on. Then there is the private sector economy that just barely limps along.
Hey jaywillie, you're the only one ignorant to any facts.
www. cbsnews. com/8301-503544_162-57400369-503544/national-debt-has-increased-more-under-obama-than-under-bush/
If Mr. Obama wins re-election, and his budget projections prove accurate, the National Debt will top $20 trillion in 2016, the final year of his second term. That would mean the Debt increased by 87 percent, or $9.34 trillion, during his two terms.
And that article is almost a year old, but it's still SPOT ON!
Private sector economy? Dow is over 14,000 today, and my IRAs are looking great!
I don't care whether that was because of or in spite of President Obama -- I'm happy...
14,000 due to Fed printing 40 billion a month of "geoffrey dollars" for the educated to borrow at low interest and put into the only market that will yiled positive return.
Next...
Just another guy...you think the deficit is the picture of the economy? Guess it is hard for you to consider two things at one time...
Correct me if I am wrong... but isn't the "Sequester" one of Obama's and his leftist cronies bright ideas? Didn't they come up with it and push it through Congress?
was Jack lew's idea..he of the Citi bogus bonus and the Cayman accounts...typical situational ethics by Obama and the lefties re Lew as usual
Bro...
Hey goober....remember this:
http://www.cbsnews.com/8301-18563_162-20086598/boehner-i-got-98-percent-of-what-i-wanted/
I have a hard time seeing how "Obama's sequester" got Boehner 98% of what he wanted......
Darn that google!
the idea originated with Jack Lew..your answer begs the question moron
The 'Sequester' Was A Brilliant Idea And Obama Should Be Proud Of It.
Read more: http://www.businessinsider.com/the-sequester-was-a-good-idea-2013-2#ixzz2LNEMGc5G
Is any of the conservative clown show got enough ****s to try and explain how cutting is going to lead to immediate job growth? Please explain how taking money OUT of a recovering economy helps it grow?
You claim to care about unemployment...what is your plan to deal with it?
well doctor dodo..then lets just print more $$ and increase the deficit to 2 Trillion under your logic you moron. The sequester cuts were a good start but about 380 billion would have been much better than 85 billion in cuts
You call me a moron but completely avoid the question. Typical.
Plus, by printing money you would REDUCE the deficit because you inject money into the economy....but you do create inflation. Perhaps take an Econ 101 course so you know your debits from your credits you clown.
haha..forgot more about economics than you know..buy i'm not going to school you on keynesian economics..waste of time
It keep money in the private sector where jobs are created; not other peoples money spent in government shovel ready make work jobs.
Yeah, and let's print some more money so the price of gas can do up another 50 cents or a dollar. That should work for a very short time.
I don't know how anyone can seriously blame this problem exclusively on the president. The sequester is the result of a deal hammered out in 2011 between Obama and Boehner. At the time, Boehner said he'd gotten "98% of what we wanted."
The proposal was designed to be so drastic that the Congress would be forced to take reasonable adjustments. But, two years later, the threat of another recession is looming and, to some in the GOP, that's beginning to look like a rather good idea. After all, if the economy collapses in a few months, it will have been on Obama's watch.
At least SOME in the GOP have been groaning in pain at every minor sign that the economy is recovering. They dig up statistical tidbits that contradict the general trend. What could be better for them than an "uptick" in the unemployment rate? Maybe it could even go back up to the 10.2% it reached just after Obama was sworn in. Oh, happy days.
Robert,
Something has to be done to stop the runaway borrowing and spending. Better to have a recession now than a depression down the road when the government can't pay it's bills and can't borrow any more and goes broke. What happens when you spend more than you take in? Borrow? Sooner or later the banks are going to want to get paid.
We've already had our recession. What we need is economic growth, which will lead to more revenues. A balanced approach, as the President proposes, is the best prescription.
Steve, you're right but I think you're looking at half the equation. "Balanced budget = spending/revenue." You don't seem to be thinking beyond "spending." And you seem to be assuming that spending will go on increasing forever until there is an economic collapse.
That could happen, but it doesn't have to. There's a good deal of potential revenue in relatively simple things like closing tax loopholes and shelters. And, when the economy improves, restoring taxes to the Clinton-era level and having millionaires pay a marginal rate of 30% on whatever they make beyond the first million dollars.
Taxes aren't evil. When the economy is in decent shape, they can be good for the nation if they're used, say, to repair the infrastructure instead of building extremely expensive interceptors that we don't need, or still another aircraft carrier. (We have ten carriers on active duty. Only two other countries have one -- and China's is the size of the Staten Island ferry.)
Above all, we need to stop comparing a national economy to a household budget because the nation does not much resemble an ordinary household -- unless you count the millionaire living free on the second floor, the dissolute high-school drop out doing dope in the basement, and the sick infant in the nursery.
Continuous borrowing certainly isn't the answer. But it doesn't have to be.
I am so sick of the little children in Congress, throwing tantrums, saying I am going to hold my breath until i turn blue, if we don't get what we want. In doing so they are hurting the country as a whole, not just the seniors, and poor and disabled, but the everyhday people who go to work, and deserve a decent wage so they can support their family. As it is now, no one can actually plan to do anything, cause they don't know how much the cuts to their own salarys will be. I hate to say it, but getting rid of the GOP and Tea Party, is the best thing we could do for the country. There is an election coming, and people need to look at what the GOP is doing, and see them for the spoiled brats they are, and kick them out of politics . King Kong could have done better than these morons in Congress,are doing and have done for the last four years. If y ou want to kick something down the road, let it be congress, not a can, aluminum sells, so don't waist the money.
Getting rid of Obama would be the best thing we could do for this country. His spending is irresponsible, his foreign policy a disaster, and all he's done since he's been in office is to blame someone else when something goes wrong or is bad. The sequester is a prime example; he promotes it and now tries to blame its implementation on Congress. Obama is the worst president this country has ever seen.
It's incredible that Obama promoted the sequester and now that he finally realizes that it will be devastating for the economy, he believes he can blame this on the GOP. What's even more incredible is that there are people dumb enough to believe him.
Republicans only look for new ways to screw the United States; they have no intention of changing their agenda - just finding new and creative ways to screw everybody: Republican incompetence, corruption and treason put us where we are today. As a party, the Republicans must not only be defeated - but crushed as well. They don't care what the American people want. They are the Political Mafia and are not fit to be in power at any level. Their psychosis prevents them from dealing with reality. They have been, and continue to be dangerous and destructive. Just look at the damage and chaos caused by Republicans and their conservative base from 2000 to the present...
Ahhh take a class or something, you have your lables bass akwards.
The 'Sequester' Was A Brilliant Idea And Obama Should Be Proud Of It.
Read more: http://www.businessinsider.com/the-sequester-was-a-good-idea-2013-2#ixzz2LNEMGc5G
The collateral damage caused by the GOP, the Tea Party, their Right Wing base – including “Christian Fundamentalists” – is likely greater than the National Dept that exists today. This, in addition to World chaos (of all types) aggravated by Right Wing prejudices and hypocritical “Puritanical values” (the “C” Street gang for example) along with other “Conservative”- sponsored tyranny. Answer: The World and the United States would be in much more stable condition – in every category. In other words: The Republican GOP-Tea Party Fundamentalist-Right Wing Cartel has been an enormous, incalculable disaster. Removal of them from positions of power and influence will improve our World economic, political and physical well-being along with general health and safety and security….
What most dont understand or they do and don't want to acknowledge that the idiot that they voted for TWICE, really is an idiot.
Obama, like the rising sun in the East has pinned the blame on Republicans Tuesday for looming spending
cuts that may be triggered by what was originally a WHITE HOUSE PROPOSAL -- while a former leader of the president's deficit commission said it's Obama who's on the path to a "failed presidency" if he can't tackle the
debt.
But hey, what do we have to worry about. I mean, he plays a round of golf with Tiger, so it's all good right?
LOL
Failed presidency?
This coming from a George Bush supporter.
You have zero credibility. Bye Bye
Ignore This Author
The Great Recession- Yes you did build that
Now step aside and let the grownups govern.
haha..with grown ups like you who needs children
Ignorance is bliss Johnny....hence you live in a world filled with spoon fed, no fact BS.
If Mr. Obama wins re-election, and his budget projections prove accurate, the National Debt will top $20 trillion in 2016, the final year of his second term. That would mean the Debt increased by 87 percent, or $9.34 trillion, during his two terms.
www. cbsnews. com/8301-503544_162-57400369-503544/national-debt-has-increased-more-under-obama-than-under-bush/
Get that cupcake?? 87% under the current "Spend in Chief" with no positive outcome barry.
To those of you who like to blame our economic ills on Bill Clinton, Obama, and the Democrats, you need to look a little deeper: Look up the Gramm-Leach-Bliley Act concerning home ownership. And on another topic related to Phil Gramm: Look up Phil Gram's push for oil speculation for the Koch brothers: Thinkprogress.org/report/koch-oil-speculation/
The recession was caused by Clinton enforcing Carter's CRA while Barney Frank kept insisting Freddie and Fannae were fine.
Bush started two wars then took resources from the first to start a second war. Neither war was paid for nor put on the books. A few thousand American military personnel were killed in the process and several $trillion spent. That "Cut 'n Spend" Republican administration launched our deficit. Under Bush-Cheney, the wealthy more than doubled their income while everybody else's declined. The Koch brothers launched risky oil derivatives, driving up the cost of oil, gas - and everything else for the rest of us. And let's not forget the Republican Gramm-Leach-Bliley Act, also known as the Financial Services Modernization Act of 1999, that repealed the Glass-Stegall Act of 1933 and led the our economic crash. Tell me again what the wealthy, greedy and corrupt are doing for the United States of America....
TRM you are quite right! In about a 5 year period the FHA loan limit in my area increased from about $89,000 to about $193,000. Lots of requirements were done away with like proving good payment history for rent or house payment for a 12 month period.
Will, they are working in DC. President, secretary of state etc...
Will, what did the democrats do to fix the things you say got us in this mess? NOTHING
They are still doing nothing.
Tracy,
What has the republicans done to fix the shyt they broke...NOTHING!!!!!!!
They are still voting no, No, NO and HELL NO!!!!!!!
The repulican controlled house has passed several jobs bills and budgets. The democrat controlled senate has not voted on them or even debated them. Democrat party is the party of DO NOTHING!
Tracy, That is because the bill sent was WORTHLESS...just like the republican Congress.... GET IT????
Sequestration was a White House idea.
The 'Sequester' Was A Brilliant Idea And Obama Should Be Proud Of It.
Read more: http://www.businessinsider.com/the-sequester-was-a-good-idea-2013-2#ixzz2LNEMGc5G
It was his idea so it must be a good idea. He must have fell off of Golf Cart One and forgot.
The 'Sequester' Was A Brilliant Idea And Obama Should Be Proud Of It.
Read more: http://www.businessinsider.com/the-sequester-was-a-good-idea-2013-2#ixzz2LNEMGc5G
30% tax credit for new corporation that creates manufacturing jobs.
India is a pool of talent
Petrol drilling permits and relax regulation
The Total Budget is Increasing This Year, When the tiny Sequester Cuts are Included!
Don't believe the Swill-Eating Big Government Pigs and their hysterical Squealing over the small cuts they agreed to years ago. They are fanatics. Deranged, government fanatics.
We're cutting nothing. We're slowing the rate of growth in government a little bit.
Republicans bankrupted our country and then crashed our economy. And after seeing their own screw-ups, Republicans said "Hey! Let's go after entitlements, etc and extract all the costs from Democrats and poor people! That way, everybody else can pay for our F-Ups! It's genius I tell's - it's genius"!! And so, that's how the Republican/Tea Party/Right Wing process operates to this day. But now, they have extended this their psychotic delusions to the Hurricane Sandy and Newtown disasters - where will they go next? Well, they have been rejected by the – real people – but that doesn’t seem to impress them, which means they are genuinely criminally insane….
No they didn't, Dems are bankrupting the country fast, and much faster than Bush ever did.
Your bad mortgage loans to the poor policies are what caused the Recession, not the Republicans.
The fat pig Welfare state isn't being cut....with the small sequestration cuts, the budget is set to increase again.
There are no cuts, just a slowing of the rate of growth. The total budget will rise.
Year 7? Dem majority? Don't know what Facism is, don't know what the left is all about, and you sure as hell don't know how government works.
Democrat, republican it doesn't make that much difference. People in government bankrupted this country.
Clinton crashed the economy and set the stage for 9/11; Clinton was a terrible president, the only good things that came out of his administration were forced by the GOP Congress.
Fascist...your continuing spew from the top of your head without anything to back it up is hilarious. This would be year 5 of split government.
Too bad the Democrat controlled senate has not passed a budget in over 4 years so TAX paying Americans would know where our money is going beside golf trips and trips to make brain washing speeches that could have been made in the White House's back yard for a million or so less.
Will - where to start, never mind you cannot understand so just put your hand out like a good Dem and reveive your government cheese you freeloader!
Who cares what Right Wing bloggers and others think. What’s important here is that we are witnessing the death throws of the Republican Party. They are kicking and screaming but to no avail. Thus, coming soon is the inevitable end of the Republican Party and its cohorts, the Tea Party and Right Wing base. GOP = Grim Ornery Pricks = Grimy Old Politicians = Gross Old Partisans = Groping Oily Palms, etc, etc. Whatever their true title - they are history. They have already destroyed millions of families and businesses, created world chaos and destroyed our reputation abroad. Revolt against these antiquated slobs and the Right Wing "Puritanical" Tea Party and their supporters. Prosecute their corruption; their treason and honor and protect our Constitution. Honor "Separation of Church and State" - there will be no "Christian Fundamentalist" government in America. These Fundamentalist want to use tax dollars to fund "Christian" schools, forcing the decay of publican education, hence, forcing public schools to completely crumble, thus forcing ordinary kids to either go without any education or attend "Religious" schools and "Religious teachings" like "Creationism" and the "Bible". Time the launch a revolution against Republicanism and "Religionism" - both are political, religious, moral and patriotic frauds. I welcome the demise of both and their political and religious narcissism! They have inflicted enough damage on the United States of America - and the world.
Clever, but at least our mascot isn't a jackass.
just your membership
Will "Who cares what Right Wing bloggers and others think". You are correct why would any of you DEM leaches care where your hand out came from as long as you still get the hand out, correct. Will has a ton of government cheese in his home!
The Sky is Falling! The Sky is Falling!
Government spending will increase this year and the next, but at a slower rate because of the sequester. Oh no, what a tragedy!
Lol @ greedy Democrat pigs.
do you even understand the meaning of your icon? It is apparent that you don't...
Probably doesn't know who Chesty Puller was, either...
Love the righties and their "It's Obama's sequester" nonsense. The President, any President, cannot write and pass legislation. It is the Senate's and House's sequestration, and in the House only 90 Dems voted for it. This is the GOP's sequestration, pure and simple.
Hussein, signed it into law.
Idea yes. Legislation? Not a chance. The GOP drove this and they, and the Dems, own it.
Let me cut it up for you woodbutcher
www. politifact. com/truth-o-meter/statements/2012/oct/24/barack-obama/obama-says-congress-owns-sequestration-cuts/
"But it was Obama's negotiating team that came up with the idea for defense cuts in 2011, though they were intended to prod Congress to come up with a better deal for reining in the deficit, not as an effort to make those cuts reality."
"Obama can't rightly say the sequester isn't his, but he did need cooperation from Congress to get to this point. We rate the statement Mostly False."
Can't wait who you libs are going to blame the nightmare known as Obamacare on when it hits
The 'Sequester' Was A Brilliant Idea And Obama Should Be Proud Of It.
Read more: http://www.businessinsider.com/the-sequester-was-a-good-idea-2013-2#ixzz2LNEMGc5G
www. cnn. com/2013/02/06/politics/cnn-explains-sequestration/
"It started with the 2011 standoff over the U.S. debt ceiling, when Republicans in Congress demanded spending cuts in exchange for giving the Obama administration the needed legal headroom to pay the federal government's obligations to its bondholders. In the end, Congress and the administration agreed to more than $2 trillion in cuts. About $1 trillion of that was laid out in the debt-ceiling bill and the rest imposed through sequestration -- a kind of fiscal doomsday device that Congress would have to disarm by coming up with an equal amount of spending reductions elsewhere."
Key word here = C U T S
A word the Obama administration knows nothing of.
Excuse me but didn't our jerk President sign the bill that made the sequester law? And didn't he just get tax hikes from Congress? And now he wants more taxes to pay for his folly and @!$%#-rich spending? BS. Let the sequester go forward and bring on the failed Presidency once and for all. What we need is a really big failure to show all the leeches in society that there is no free lunch and it's time you got off your asses and earned your keep.
It's really amazing how the Right thinks that a hit to the economy and massive cuts in spending will only affect liberals.
yes he signed the law (passed by congress). yes tax rates went up, as a result of a republican law that expired because that is how they wrote it. He wantas more revenue to pay for his agenda, but congress must approve it first. yes let the sequester pass, the economy will stagger and even the least intelligent voter will see the republicans are more interested in politics than the good of OUR country. By the way, which federal benefit will you give up from the ones you are getting.
The 'Sequester' Was A Brilliant Idea And Obama Should Be Proud Of It.
Read more: http://www.businessinsider.com/the-sequester-was-a-good-idea-2013-2#ixzz2LNEMGc5G
Link is BROKEN ABOVE.
www. cnn. com/2013/02/06/politics/cnn-explains-sequestration/
"It started with the 2011 standoff over the U.S. debt ceiling, when Republicans in Congress demanded spending cuts in exchange for giving the Obama administration the needed legal headroom to pay the federal government's obligations to its bondholders. In the end, Congress and the administration agreed to more than $2 trillion in cuts. About $1 trillion of that was laid out in the debt-ceiling bill and the rest imposed through sequestration -- a kind of fiscal doomsday device that Congress would have to disarm by coming up with an equal amount of spending reductions elsewhere."
Key word here = C U T S
A word the Obama administration knows nothing of.
During the last campaign, Romney ran on ending loopholes and reforming the tax code as a way to reduce the deficit. Now that the campaign is over, those same Repugnicans are disavowing any attempt to close loopholes and reform the tax code. Gut entitlement? Yes. Reform? Not on their watch.
Hey you got your tax hikes Obama wanted. Now its time to make those government spending cuts.
Obama already has over $2T in cuts approved. Looking for $2T more. GOP won't budge on cutting tax breaks and loopholes. Can't do it by cuts alone.
The Republicans offered to close loopholes to raise taxes back in Nov. ONE DAY after the election. Obama said NO!. He wanted a TAX RATE INCREASE! Well he got his TAX RATE INCREASE,REMEMBER? Now it is time for the CUTS!
You already got your tax hikes. The tax loophole closing deal was supposed to be instead of that, not on top of it.
What 2 Trillion cut? What Dept. were cut? How mush was each Dept. cut? Please answer those questions. I can't find the answers any where.
How can you spot a democrat?
Look for the guy without elbows.
He always has this hand out and can't wipe his own a...
Obama is lying again. This was his own idea to begin with. Now he is playing the scare tactic game to scare people and the liberal nut jobs here dont seem to understand that.
A page out of Obama's playbook.
"Propaganda must always address itself to the broad masses of the people. (...) All propaganda must be presented in a popular form and must fix its intellectual level so as not to be above the heads of the least intellectual of those to whom it is directed. (...) The art of propaganda consists precisely in being able to awaken the imagination of the public through an appeal to their feelings, in finding the appropriate psychological form that will arrest the attention and appeal to the hearts of the national masses. The broad masses of the people are not made up of diplomats or professors of public jurisprudence nor simply of persons who are able to form reasoned judgment in given cases, but a vacillating crowd of human children who are constantly wavering between one idea and another. (...) The great majority of a nation is so feminine in its character and outlook that its thought and conduct are ruled by sentiment rather than by sober reasoning. This sentiment, however, is not complex, but simple and consistent. It is not highly differentiated, but has only the negative and positive notions of love and hatred, right and wrong, truth and falsehood."
As to the methods to be employed, he explains:
"Propaganda must not investigate the truth objectively and, in so far as it is favourable to the other side, present it according to the theoretical rules of justice; yet it must present only that aspect of the truth which is favourable to its own side. (...) The receptive powers of the masses are very restricted, and their understanding is feeble. On the other hand, they quickly forget. Such being the case, all effective propaganda must be confined to a few bare essentials and those must be expressed as far as possible in stereotyped formulas. These slogans should be persistently repeated until the very last individual has come to grasp the idea that has been put forward. (...) Every change that is made in the subject of a propagandist message must always emphasize the same conclusion. The leading slogan must of course be illustrated in many ways and from several angles, but in the end one must always return to the assertion of the same formula."
Mein Kampf chapter VI
The 'Sequester' Was A Brilliant Idea And Obama Should Be Proud Of It.
Read more: http://www.businessinsider.com/the-sequester-was-a-good-idea-2013-2#ixzz2LNEMGc5G
Link is BROKEN ABOVE.
www. cnn. com/2013/02/06/politics/cnn-explains-sequestration/
"It started with the 2011 standoff over the U.S. debt ceiling, when Republicans in Congress demanded spending cuts in exchange for giving the Obama administration the needed legal headroom to pay the federal government's obligations to its bondholders. In the end, Congress and the administration agreed to more than $2 trillion in cuts. About $1 trillion of that was laid out in the debt-ceiling bill and the rest imposed through sequestration -- a kind of fiscal doomsday device that Congress would have to disarm by coming up with an equal amount of spending reductions elsewhere."
Key word here = C U T S
A word the Obama administration knows nothing of.
I think your needle is stuck in the groove Hand.
For you too young to understand, the needle is what transmitted the sound from a vinyl record. Sometimes the needle would stick and the recording would stutter.
How about ending federal tax refunds given to people that don't pay federal taxes.
I believe this was a bill that the President signed into law and now when the time comes that we won't kick the can down the road, "OTHERS" are to be blamed. Start with the "super stupid" committee and it has spiraled down hill from there.
I am SURE if this happens we will survive. We survived the GREAT DEPRESSION and I suspect the people today are as resourceful as our ancestors were so when it happens, remember it was signed into law by the President. A politically correct move to get votes might just backfire.
split government means no one has a majority. Republican Senators don't even believe in majority rule, unless they change their filibuster stance, even less will get done in a SPLIT government.
did you take a civics course in high school? majority of influence and a quarter will get you a phone call, but not any legislation.
the country has already fallen.. the democrats have destroyed the american dream.. they reward the lazy parasites.. fake money printing will only last so long.
I know of a few trust-fund babies who are lazy parasites...
So the economic collapse caused by Republicans was your "American Dream"?
Aim high moron
www. cbsnews. com/8301-503544_162-57400369-503544/national-debt-has-increased-more-under-obama-than-under-bush/
"If Mr. Obama wins re-election, and his budget projections prove accurate, the National Debt will top $20 trillion in 2016, the final year of his second term. That would mean the Debt increased by 87 percent, or $9.34 trillion, during his two terms."
87% CUPCAKE!!!!
Economic collapse was caused by deregulation under Clinton. Know your history.