Skip to comments.Why Obama is pushing for stimulus in 'fiscal cliff' deal (Barf and Outrage)
Posted on 12/02/2012 6:26:55 AM PST by SkyPilot
How about a little government economic stimulus?
That may sound incongruous considering the budget deficit and the push from Republicans to cut government spending.
But President Obamas first offer to avoid going over the "fiscal cliff" holds out the hope of at least some stimulus. This would include extending the 2 percentage point Social Security payroll tax cut, boosting a tax incentive to businesses, establishing a $50 billion bank for long-term infrastructure projects, and extending unemployment benefits.
The total bill: about $255 billion out of the federal government's pocket an amount the GOP would likely say needs to be offset by spending cuts elsewhere.
The argument in favor of such stimulus? The tax measures, at least, could minimize the drag on the economy from Mr. Obama's proposed tax increases on the wealthy.
The increases in the top two income tax brackets would put a drag on consumption, so I think, from the Obama point of view, the spending or tax cuts are designed to offset that drag to consumption, says Michael Brown, an economist at Wells Fargo Securities in Charlotte, N.C.
But to some budget experts, Obamas list seems more like an opening round of negotiations, where he has asked for a lot more than he will get.
It looks to me like these are bargaining chips, says Pete Davis of Davis Capital Ideas, which advises Wall Street firms. Even most Democrats had given up on the prospect of getting the payroll tax cut extended.
(Excerpt) Read more at news.yahoo.com ...
Over Thanksgiving, I spoke to a very close relative (retired, on Social Security) and another family acquaintance (retired, on Social Security) who both proudly said they voted for Obama.
I chose to not enter into the discussion. When you are dealing with such people, I have discovered (through painful discourse) that truth and reason do not enter into the equation.
It is akin to dealing with hardened atheists to whom Truth is a category to be ignored, at all costs.
Read this book by Ravi Zacharias, and you will see what I mean.
I have asked God that the people who have supported Obama reap what they have sown. I know God is just, and forgiving, however - I have asked him to use His Almighty hand to demonstrate to our immoral, selfish, stiff necked citizens that He is God, and no other.
Didnt we go down that road 4 years ago to the tune of 800 billion dollars? How did that turn out?
Why he’s pushing for stimulus ahead of the fiscal deal?
Simple, he has to pay back his cronies somehow.
Just adding in some ‘poison pills’ to guarantee the R’s will oppose it, so they can be more easily blames for it in the media, as if he needed any help with that in the first place.....
Thanks for the working title: “The Years of Barf and Outrage.”
I’m curious, do they have a tanning salon in the Capitol gym? I seriously doubt they’re walking into Texas tan.
On a more serious note, I learned 32 yrs ago that the cuts they always speak of never happen.
We must not only go over the fiscal cliff but afterwards we need to NOT RAISE the debt limit and get IN WRITING cuts to bring a balanced budget.
We need a Scott Walker on a national level to do something about federal employee unions,salaries, benefits and especially federal pensions.
Part of their big lie. But the the rich that Obama loves to hate do not consume, they save and invest (that's how they get rich). By saving they make capital available for other investors. By risking their money on investments they create sustainable jobs and new intellectual property to power our economy. Obama's plan is to take that money from them and use to dig holes and fill them back in. Even some Republicans will get on board with promises of hole digging in their districts. The rest will be threatened with the smear of "wanting to crash the economy" when in fact they want the opposite.
Excluding veterans of course
Correction: Out of the employed citizens pocket - so the democrat base can live a comfortable, lucrative, nonworking lifestyle.
"It's the bling, stupid!"
2012 - The year of the parasitic voter
Form a parasite getting free stuff.
“Who would want to work in America? This is what the taxpayers are paying for”
Negro wants another trillion? Tough!
I pray for Obama’s soul to be saved but WILL NOT pray God blesses his works. I pray God makes everything he attempts to fail.
I also will not pray God blesses America. Americas reaping what we’ve sown, in our rebellion against God. Roman’s 1 shows the natural fruit of that rebellion against God. I pray America stops it’s war on God (entertainment, laws to forbid prayer and religious displays of any kind) - whatever it takes to make America turn back to God. To learn the fear of God again (respect of who He is) Then God can bless America once again.
“Why hes pushing for stimulus ahead of the fiscal deal?
Simple, he has to pay back his cronies somehow”