Skip to comments.White House Offers New Fiscal Plan, Prodding G.O.P.
Posted on 11/29/2012 3:03:40 PM PST by tobyhill
House Republicans said on Thursday that Treasury Secretary Timothy F. Geithner presented the House speaker, John A. Boehner, a detailed proposal to avert the year-end fiscal crisis with $1.6 trillion in tax increases over 10 years, an immediate new round of stimulus spending, home mortgage refinancing and a permanent end to Congressional control over statutory borrowing limits.
The proposal, loaded with Democratic priorities and short on detailed spending cuts, was likely to meet strong Republican resistance. In exchange for locking in the $1.6 trillion in added revenues, President Obama embraced $400 billion in savings from Medicare and other entitlements, to be worked out next year, with no guarantees.
He did propose some upfront cuts in programs like farm price supports, but did not specify an amount or any details. And senior Republican aides familiar with the offer said those initial spending cuts might well be outnumbered by upfront spending increases, including at least $50 billion in infrastructure spending, mortgage relief, an extension of unemployment insurance and a deferral of automatic cuts to physician reimbursements under Medicare.
(Excerpt) Read more at nytimes.com ...
Shut it down!
Why the hell is Geitner providing this?
A permanent end to Congressional control over statutory borrowing limts? What POSSIBLY could go wrong with that idea?
To infinity and beyond. The problem is that Boehner won't hold the line anyway and will raise the debt ceiling.
That's all we need to know. It's a nonstarter and a typical joke. Inflation is the most likely outcome.
He’s the white man Susan Rice now. I say..no deals.
You’re the President and you control two thirds of the government. If things go to hell, your voters BHO, will all of a sudden feel the pain and start realizing that Romney really was the better business man. NO deals...we’ll start to fix things in two years. Ball’s in your court Prez.
Does anyone really think the Democrat party wants to fix the economy? Obamugabe and his fellow perverts only want to destroy America.
Just adjourn the House, Mr. Speaker. Sine die!
Timothy F. Geithner? Just what is deliquent tax bill up to now?
There are zero spending cuts under this proposal.
They don’t even feel the need to pretend anymore.
IOW, a doubling down of the very things tht have been destroying our economy, and a removal of Congress's ability to stop it at any time in the future.
The House must say no to this, loudly and longly, and they must go public and use the airwaves, the internet, town halls and every conceivable method possible to expose this filth for what they are...enemies of this nation and all we hold dear.
Many will not buy it and blame the House Republicans...but they must be strong and take that, knowing that giving in to this screed is an absolute end to this Republic.
I would rather it go down fighting.
America at the Crossroads of History
“..Just adjourn the House, Mr. Speaker....”
Yep. But not without a press conference first to say why and to also just casually mention odongo’s multi-million dollar Hawaii vacation. The House should de-fund the entire Executive Branch of the government. Shut it all down.
The status quo is what people voted for. Fiscal Cliff is where we were before the election. Its time to jump.
The right thing to do here is for the speaker to say that and that negotiations are closed. If you want to reopen them then repeal Obamacare. This fight was already fought thdis is what the 3 branches of government agreed to. Nothing has changed since (unfortunately)
80% increased taxes and 20% reduced spending (maybe) when the problem is solely related to spending? The fix should be 100% reduced spending however we don’t have the votes for that. So the waiting game to see how long before Boehner caves....
In other words, the people will no longer have any say over how much we are indebted. Only the dictators will decide.
Same old, same old. Here are the gory details.
This is “Negotiating 101”. Include a bunch of demands you don’t really care about so you can drop them later in exchange for the things you really want.
The dems can get away with this because they have the media in their pockets. An honest media would look at this laundry list and break out laughing. Instead, all these ridiculosu demands are treated as if they deserve honest consideration.
We have no hope in this country until honest journalism is restored.
This is an illegal attempt by the executive branch to usurp a power of the legislative branch. We are edging toward dictatorship, not unlike Ancient Rome.
I think our rich people likely already have a plane ticket or their own plane ready to get out fast if that high tax is placed on them - get out before the tax starts.
If you were extremely rich, how long would it take you to fly out of here and change your address to another country?
a permanent end to Congressional control over statutory borrowing limits.
This isn’t Sparta, it’s fracking insanity!
Vote to make the tax cuts permenant.
a permanent end to Congressional control over statutory borrowing limits. >>>>>>>>>>>>>>>>>
How can they negotiate a change in Constitutional authority of Congress and the executive branch?
This is horrid. Boehner needs to begin calling Obama a Socialist threat to our nation, which the GOP has refused to do, and now it is paying the price for its failure.This goes back to John McCain.
Sarah Palin had no hesitation in laying the boots to Obama on his radicalism.
Meanwhile Hairy Reed charges he cannot understand Boehner’s brain? Soon there will be some very bad things happening if this shit doesn’t stop.Obama has becoem a threat that the media and the GOP fail to report.
” Boehner needs to begin calling Obama a Socialist threat to our nation, which the GOP has refused to do,”
None of our guys in D.C. have exposed Obama. That’s why he won. They should have been attacking him for over 3 years.
In some cases, both.
Why the hell is Geitner providing this?””
Because he is another wind-up moron who has been assigned the job of appearing in public—just like Susan Rice.
Obama is now assigning others to make ‘his’proposals.
Obama plans on being out of the country for 21 days- Dec 17 to Jan 6.
In that time period, will he also seize the private savings/money market accounts/401’s and other IRA’s and private company pension funds??? He will be hard to reach wherever he is hiding in Hawaii or where he goes from there. He sure will be much closer to Indonesia—a country for which he still holds citizenship.
Is he ready to bolt?
Botes from NOv 6th haven’t even been certified by all the states yet, and Obama is proposing over double what he campaigned on for tax increases.
Is there a single word out of that man’s mouth that is truthful?
I don’t think so.
Votes from NOv 6th haven’t even been certified by all the states yet, and Obama is proposing over double what he campaigned on for tax increases.
Is there a single word out of that man’s mouth that is truthful?
I don’t think so.
This requirement that Obama has for a control of the debt ceiling should be met with a GOP demand: GIVE US A WORKABLE BUDGET..........OBAMA YOU HAVE NOT HAD ONE IN 4 Years!!!!!!
Obama does not want a budget , because it allows open ended borrowing.Make him bring a workable budget forward , or LAUGH at him once again.
n January, 2009, the month ODUMBI entered office, median household income was $54,983. By June, 2012, it had spiraled down to $50,964. The FISCAL CLIFF will take 2200 bucks from that. Now, that comes out to 5 dollars a day for each person. That adds up but it is not FALLING OFF A CLIFF. ......Congress is printing 40 billion dollars every month (they call it Quantitative Easing), Congress is not producing a budget, yet Congress will ask us to pay taxes on April 15th. ........Americans should all ask for tax extensions and TELL CONGRESS ......IF YOUR BUDGET IS LATE, OUR TAXES WILL BE LATE ALSO
Right now, neither party has come out with any plan for serious spending cuts. Both are playing politics. I say now is the time for conservatives to come out with a new “CONTRACT FOR AMERICA” much like the conservatives did under Gingrich and propose specific cuts to put the nation on the path to a balanced budget. Here are a few:
1. Cut the defense budget by $250 billion a year, so that it is no larger than the combined defense spending of China, Russia, England, Germany and Japan all added together. After all, we have the world's most effective nuclear arsenal and two very large oceans between us and any hostile nations. We could make do.
2. Eliminate farm subsidies. Let's get away from Soviet style agriculture and go back to capitalism. Save tens of billions.
3. End the crony capitalist medical system we have where an adult citizen cannot buy the medication he needs without getting someone certified by the AMA to give him a license to buy it. This is ridiculous. Most of the world lets its citizens buy 98% of necessary meds at their local pharmacy, without a script. The pharmacist uses his knowledge as an adviser. Go to a doctor if you like, but this would put an end to people having to run to the emergency room and run up a fantastic bill (which the citizenry has to pay) just to get some basic medication. This would also cut down doctor's visits by 50%. Plus, build twice as many medical schools as we have now and introduce (the horror of this word to doctors) COMPETITION to the medical system. Right now the AMA (?!!!) limits the number of medical schools and thus doctors we can have. Finally, put a limit on the extent of services available under Medicare. A person living on social security doesn't get to live like a millionaire, why should he have the same medical care under Medicare as a millionaire. Grow up and stop shrieking about “death panels.” Government has limitations. You don't want them, earn some money, don't go begging from the general public.
4. No retirement benefits to be paid by the government to any able bodied person until they reach 65. Doesn't matter whether they worked for the post office, the legislature, the armed forces....You wait like the rest of us. Why are we talking about raising the retirement age for Social Security because it is starting to run a deficit and not all the other government retirement programs, which are not funded at all?