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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
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Fox news is to the GOP what MSNBC is to the DNC. Don't fool yourself. Question to the libs: Do you think your daily dose of MSNBC is unbiased and accurate?
Agreed.
Well stated. When anyone comes from a conservative background they always refer to Fox News. True conservatives will go to many sources.
I personally go to Drudge often. Though it is a conservative blog, I think most of their stories have been verified. Unlike MSNBC's hack jobs relating to altering certain videos to put more liberal spin on them. Fox does the same only the other way.
I don't always believe NBC NEWS (its not MSNBC anymore), is unbiased and accurate. I used many different sources.
PS. I am not a lib, although according to my name, if I don't agree with everything you righites say, I am a lib
Okay, great....when do we get our free stuff?!
Edd:
Just as soon as the Democrats need people to vote again.
"calamitous consequences for the U.S. economy should the automatic spending cuts known as the “sequester” go into effect next Friday."
Would love to see it, though it will never EVER happen.
Soap opera queens/kings....the whole lot of em.
I'm confused. Dems don't want defense cuts now?
Hey folks, for all you idiots who want to just blame Republicians for the sequester, get a grip!
The House (Republician controlled) voted & passed it. Democrats in the House voted for the bill!
The Senate (Democrat controlled) voted & passed it. Senate Democrats voted for the bill!
The President (A Democrat) signed the bill.
What's so hard to understand: They are all at fault. Plus all Republicians are doing is allowing a LAW which the President SIGNED, to happen!
the sequestor was simply a devise to kick the can down the road. It was never intented to be debated until after the election because if a RepubliCON(emphasis on the CON) was elected POTUS they thought they would be having fun trashing the social safety net so the 1% could go from taking 93% of all profit created in the last year we have records for (2009) to about 99% which they feel is more in line with their worth.
At least understand what you are arguing about
Dave:
The reality is that Democrats have rarely agreed to anything more than piddling baseline cuts over 10 years. And when they have agreed to substantial spending reductions they have NOT kept their end of the bargain. For example: TEFRA (Tax Equity, and Fiscal Responsibility Act). Signed into law by President Ronald Reagan on September 3, 1982. Republicans agreed to the tax hikes on the promise from Congress of a $3 reduction in spending for every $1 increase in taxes.
Well Congress imposed their increase in taxes, but TO THIS DAY they have never gotten around to the spending reductions. So why in the world would we believe that they would keep their word now? => //en.wikipedia.org/wiki/Tax_Equity_and_Fiscal_Responsibility_Act_of_1982
They have not agreed to close down a single agency or office, much less a full government department. They have not put on the table any plan to eliminate any assistance programs. And they probably never will.
LET THE SEQUESTER HAPPEN. It was President Obamas idea. The Democrats passed it. Let them take responsibility.
And the beat goes on! ... www.youtube.com/embed/OAOrT0OcHh0? => Fire Congress.
left- have you got your ged yet. Seriously dude you are one lame poster
demtothebone, I do understand what I am talking about. Who cares if it was a can kicked down the road. It was a bill voted on/passed in both Houses of Congress & signed by the President, so it's the LAW OF THE LAND! Now you can cry moan & complain all you want, all Republicians are doing is holding democrpas feet to the fire. When/if they come up with something better, let Republicians know, because right now all they are doing is blowinh "hot air"!
Frobose- the reality is if we continue down the road we are going in 20 to 40 years we will have an immense problem. We pay more for medical treatments per capita then any other advanced nation. When measuring outcomes they produce longer life spans then we do.
Solve that problem and you have solved the deficit problem. Obamacare is full of state unique plans to try different methods to try and reduce costs.
So rather then use the blunt ax why dont we address the one item that is destroying our finances- medical costs?
Dave- why are we discussing the deficit and not unemployment again? why cant we have any more revenue? See post above for what the true deficit driver is. If you look at income for doctors and nurses you will find they are not overpaid(avg doctor is like 150k a year), hospitals are not exactly profit centers. So who is making the money- yep that oxymoronic term for profit medical insurance companies and medical devise manufactureres and of course the pharma industry. They make all the money and year after year the costs go up more then inflation-WHY???????
and what assumptions do you use to generate those numbers??????????? are you counting all govts- including city and state?
dem:
I don't recall mentioning ANYTHING in my previous post about health care.
As I recall my post dealt with the FACT that Democrats have not kept their word regarding spending cuts in the past. And I see no reason to suspect that they will now.
Besides; ... They made a deal, and I think we should expect them to honor it.
Especially since it was Democrats idea. If you're not going to uphold your end of a bargain; DON'T MAKE THE DEAL.
And the beat goes on! ... www.youtube.com/embed/OAOrT0OcHh0? => They cannot Break Our Will.
democrats practice propaganda, the art of lying every time they open their mouths.
fROBOSE- THE KEY TO OUR DEFICIT IS THE COST OF MEDICAL- THAT IS THE DRIVER. Reduce those costs and you have solved the deficit problem. The difference is many of the old cuts had cola attached to them. By not increasing the costs to match inflation we have CUT the expenditure. That I believe is the difference of opinion between your side saying dems broke their past word and dems saying no we havent.
Tracy- dems face REALITY RepubliCONS(emphasis on the word CON) run from it
The fix is in. Dems and Reps, including Obama, know cuts have to be made. That is why they passed the sequester and will let it happen. It allows cuts to be made without anyone having to take the blame alone.
MORONIC CHICKENS ARE RUNNING THE HENHOUSE, AND THE PEOPLE BUY THE CHICKEN@!$%#!
Quote from the CBO Directory during his testimony to the House and Senate Budget Committees last week:
"Second, debt would be even larger if current laws were modified to delay or undo certain scheduled changes in policy. For example, if lawmakers eliminated the automatic spending cuts scheduled to take effect in March (but left in place the original caps on discretionary funding); prevented the sharp reduction in Medicare’s payment rates for physicians scheduled for next January; and extended the tax provisions that are scheduled to expire—and made no other changes to spending or taxes with offsetting budget effects—then budget deficits would be substantially larger than in our baseline projections, and debt held by the public would rise to 87 percent of GDP by 2023 rather than the 77 percent under current law."
That would mean a upward CBO revision from the current total national debt to GDP ratio in 2023 from around 104% to 114%. Not only do we need the seqester (or other cuts) in the amount due to take effect on March 1st, but additional cuts in spending over the next ten years to get our federal government on a sustainable financial course. It is a matter of short term pain for long term gain.
Peter17- if we solve the medical cost problem we have solved the deficit problem. We are on the verge of genetically unique treatments for ms, parkinson and cancer. Brought to us by the investment made by Clinton in having the Govt pay for the genome project.
Now shall we cut all discretionary spending while we continue to make billionaires of insurance companies and medical devise manufacturers. We pay more per capita then any other advanced industrial country yet have one of the worse outcomes when measured by life expectancy. Yep we pay more but die sooner.
On the not-so-bright side, mandatory federal spending will ultimately shrink federal government. The cost of entitlements and debt maintenance will consume all revenue.
demtothebone
Explain to me how taxing health insurance companies and pharm billions actually lowers the cost of healthcare?
Obamacare is about heavy subsidies, making health care "more affordable" for some while driving up the bill for all.
MJ_CT- where did I say tax them. If it was up to be I would Dissolve them as nothing is more oxymoronic then depending upon a for profit company being willing to cut its own financial throat to pay extra to save mine.
The Europeans spend less for medical costs per capita then we do. That is a verifable fact. When measuring outcomes by life expectancy or child mortality rates we rank in the bottom half.
Every year except since 2009(recession or Obamacare?) the rate of medical cost increase was above the rate of inflation. Since 2009 the rate of increase has slowed down. Obama care is full of experiments to see what measures can result in better outcomes at a lower cost. Rather then cut everything for what MAY be a problem 40 years down the road I say solve the unemployment problem and emphasis the need to reduce medical expenditures and we SOLVE thge deficit problem that way.Within 5 years we will know, and if it doesnt work then we need to REDUCE the deficit NOW. But wouldnt it be easier with an economy producing sommething approaching full employment?
MJ- I am outta here. I assume we can continue the discussion another day. It just strikes me as nuts that we have to turn everything on its head for a problem that MAY develop in 25-40 years from now. In the interim we have unemployment(which makes the deficit worse) at unnaturally high levels. We can compare countries that have tried your approach(Hayek) with those that have tried my approach (Keynesian) and the results are crystal clear if you bother to look. Spend our time and energy on devising better medical approaches that lower exdenditures and you solve the problem- without gutting the military(although I bet we have differences there) or discretionary spending which needs to be increased.
Take care
Peter's CBO was the same one that projected a $5 trillion surplus at the end of the Bush administration.
What a laugh!
Ya see, it's just like health care: Ya got to pass the bill to learn what's in it. Well guess what we learned: cost have increased because of it; doctors & companies have dropped patients/plans; taxes on everybody went up!
He passed a stimulus bill which added 878 billion to the debit!
He gave away 500 million to a company that then went broke 6 months later
At least with this bill we know what will happen! Thank you democraps!
The speech featured no new, concrete proposal from the president detailing how he would prefer for Congress to replace the sequester.
THANK YOU OBAMA FOR ANOTHER FAILURE!!!
When have you heard a concrete detailed plan from President Obama?
His words are like rain from heaven during a drought. The problem is, most are unaware of virga.
But he did state it was not "smart". So he has admitted that he was acting stupidly by approving the bill.
No less an economic whiz than Alan Simpson came out today and said that Obama's Presidency will be considered a "failure" if he doesn't address the issues of Medicare & Social Security....
The history books are going to VILIFY Obama; his reckless spending and partisan ways are going to bite him in the butt....I have NEVER seen a President work LESS with the opposition than has this one; and I have been around for a long time.
The worst President (white or black) to ever hold the office.....FACT
Ive never read such a dimwitted post.
Complete rubbish
Simpson? Simpson? Oh yeah, the old guy who likes crude folksy jokes.
Very funny guy, if you like barnyard humor.
President Obama is a lousy president. His only support base are gays & females(white or black)
Johnny, then you should read some of yours.
He really makes you miss the forgotten one. President Carter
Anything short of total capitulation will be rejected by Republicans. Budget and appropriation bills begin in the House of Representatives. The "ball is in their court."
Oh...wait a minute...they're in recess, aren't they?
And to this date not a single prosecution of a Wall Street Exec for causing the great recession. I thought Obama was elected to defend the little guy.
Thank you President Obama and Mr. Geitner for the those "too big to regulate" behemoths that you created.
Wasn't Elizabeth Warren cute admonishing the bank regulators? Professional wrestling is more credible.
Hahaha...good one. We'll see. We ALL have reason to be skeptical. Would you rather the "gesture" be skipped, or is it better than nothing?
At least she reminded everyone that no one has been brought to trial. But, of course, no way they will be "shamed into action." Watch the new Chairwoman of the SEC...too new to be blamed, but supposedly a former tough federal prosecutor.
I keep on hearing sequesterion was Obama's idea to begin with-shame on NBC for not covering it.
MSNBC is fed the lies and run with them (at least the lies they don't create on their own). MSNBC management stopped encouraging journalism years ago.
Fox and the web sites that cater to the right wing crazies cover republican facts. Not NBC.
Right Jim, NBC covers only DNC "facts." More commonly known as spin.
The economy has survived Obama...the sequestration compared to Obama is like comparing a hummingbird to a buzzard...
Will it survive Obamacare? Stayed tuned.
There are so many moving parts to Obamacare, it's obvious the ultimate goal of this administration is to enslave us in bureaucracy. Just wait for 2014. Even the most diehard lib will begin to question the motives of dear leader.
Obama is worried about the economy suffering so... lets raise more taxes!
You have to take money to spend money!
I think someone may have an addiction to OPM.
The republican congress who sits by and does nothing to comprimise should NOT GET PAID, LOOSE THEIR BENEFFITS, and look forward to americans voting them out of office in 2014. People in this country are sick and tired to see a few who won't except the fact President Obama was re-elected, so they want to keep stabbing the Pesident in the back and want to ruin the lives of millions of people who voted for him, while bringing down this economy and do it without any guilt what-so-ever!
In the meantime, many republican governors are rigging their States electorial process by redistricting, which one vote will not count as one vote in the next election. They have to cheat thinking the american people will fall for that dirty trick. The States residents need to publically rampage their local government to stop this practice.
Brilliant! Never seen so much bullcrap in two paragraphs since the first moments of the latest State of the Union address.
Joanie:
The DEMOCRATS made a deal. They should be held to the terms of that deal.
And the beat goes on! ... www.youtube.com/embed/OAOrT0OcHh0? => 90 Years Of Communism In America.
Hmmm...I agree, but it will probably only push the movement to scrap the electoral college altogther and decide the Presidential election by popular vote.
More "cutting their own throats."
Amazing how bent on self-destruction these people are.
logico, then you've never read one of "fistedredheads or pig@!$%#ry's post's
This is a case where leaders lead and ideologues fall apart. Democrats are in charge have been in charge for 5 years presidency, and congress for 7 Senate. No budget in 5 years, No plans to rescue economy in 5 years, and the only card they want to is the blame game. LEADERSHIP????? Liberals--you and your accusations are funny. You are a joke and so is your smoke. This economic destruction was and is being orchestrated by you and your inept President.
The only thing we have to fear, is Obama himself!
We have a President that continues to use community organizer tactics. Todays speech he had a group of emergency responders behind him. He is the king of head games. I am surprised he did not put a couple in wheel chairs.
The only jobs he is concerned with are union jobs.
How many murders have occurred so far this year in Obama's 'organized community' in Chicago? Wherever he goes, he leaves a mess, the ones who suffer the most are his own people. The man is a creation of his own imagination and incredible ego, just like his mentor, Jesse Jackson.
Anyone who buys into Obama is an idiot.
OBAMA is to stupid to fix anything...so i bet he just continues bush policies as the norm for him..
we need better birth control in kenya,,so we dont elect another retard....sorry to the tards...
What a wonderful president we have. The sequestration was his idea but someone else is to blame if it happens. Obama doesn't have a clue of what makes up the middle class in America and he doesn't have a clue how to be honest with the American people, but he sure knows how to blame others. What a pathetic person we have as president.
We have a President that lives like the hated elite 1% but he does it on the backs of TAX paying Americans.
ahhhh - isn't he cute? Playing in his sand-trap screaming that things are going to get really bad if he don't get his way!
WAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA
What a joke this a hole is and the idiots that fall for it.
The problem with electing people to run things is that they seldom know anything about what they are suppose to run...
Deportations are up because the border is not secure.
Deportations are UP because OBAMA is going after the law breakers first... while the Republicans are employing them, ask Romney
Law breakers first. Well in case you don't know it, when they enter the country illegally they are breaking the law.
If the borders were more secure there would be less to deport. Thank you for your 14 year old comment.
Once a community organizer always a community organizer.
Once a harvard grad, still a harvard grad and PRESIDENT for the next 4 years.
he never went to harvard you tool
LMAO, umm yes he did...
http://news.harvard.edu/gazette/story/2008/11/obama-joins-list-of-seven-presidents-with-harvard-degrees/
GET EDUCATED
it was honoary,,,,lol..you beleive that crap??? ever seen his transcripts??
no one has,,and no one ever remembers him....he was a forigen exchange student
hahahahahahhaha
you are out there
LOL it was not honorary.
P.S. have you ever seen any other President's Transcripts. Oh wait, that's right, NO OTHER PRESIDENT has had to produce theirs... if you had any education, you WOULD know COLLEGE IS NOT REQUIRED to be President. Read Article II of the US CONSTITUTION and take a course in American Govt. YOu are embarrassing the entire nation.
you mean that little piece of paper the obama pisses on every chance he gets....
if you voted for obama,,you are for the destruction of the constituion
its your fault
obama is the embarrassment to the nation
clinton showed his..
aint it funny how the obamas LOST thier law lic..for being un-etichal....
and you voted for the stoodge
LMAOOOOOOOO
LOL he doesn't piss on it. Thats the republicans...
Telling us who we can marry, what our religion should be, what women can and cannot do with their bodies, and telling us our family values?
I didn't vote for a man that is destroying the constitution, that would be the REPUBLICANs.
PROVE IT. Show me one source that Clinton showed his college transcripts, I'll wait ;).
P.S. Yeah, unethical, voting for BUSH who told us there was WMD, where are they? Or Reagan, WHO SOLD WEAPONS TO IRAN to pay for a war on terrorism in Nicaragua.
read above
Sources are where???? Still waiting :-)
P.S I hear that Oregon is moving closer to gay marriage rights.. Got your suitcase warmed up for IRan?
good for oregon..that will make my daughter happy
so you HATE gays and prez bush????
kinda like holder and fast and furious
I don't know, why don't you ask all the gay people in the world.
I don't hate Bush, nor do I think everything Obama is doing is right. What bugs me though, is when people hold OBAMA to a higher standard then BUSH. It's hypocrisy at it's FINEST
Kind of like 9/11.. or those fake weapons of mass destruction....
i just want obama to do his job,,he said change
did he not extend the bush era tax cuts???
just askin
so both parties suck..where does that leave us
See comment below about the Bush Tax Cuts.
I want BOTH Parties to do their jobs. That means they both have to stop their bickering back and forth and remember the job they are there to do. I think the entire congress should be FIRED immediately. Stop giving them free health care, and salaries to go with it.
i read that...and wow we do agree on something...that was not that bad...im learning more everyday