Skip to comments.OBAMA: FISCAL CLIFF DEAL IS 'JUST ONE STEP,' VOWS NOT TO DEBATE DEBT CEILING
Posted on 01/02/2013 8:39:33 AM PST by SeekAndFind
Appearing shortly after the House voted to pass a fiscal cliff deal Tuesday night, President Barack Obama called the bill a "first step" toward deficit reduction, but warned that he will not go through the same battle with Republicans over the debt ceiling.
"Thanks to the votes of Democrats and Republicans in Congress I will sign a law that raises taxes on the wealthiest 2% of Americans," Obama said. "Tonights agreement further reduces the deficit by raising $620 billion in revenue from the wealthiest households."
But, he added, "the fact is, the deficit is still too high."
"I believe there's further unnecessary spending in government that we can eliminate," he said. "There will be more deficit reduction as Congress decides what to do about the automatic spending cuts in two months."
The statement caps off days of chaotic negotiations, which ended in a bill that will raise taxes on households earning $450,000, as well as increase taxes on estates over $5 million and extend unemployment benefits. The bill does little to address sequestration, however, but extends the deadline for the spending cuts by two months.
That deal marks a significant political victory for Obama, fulfilling his central campaign promise to raise taxes on the wealthiest Americans.
Still, the agreement fell far short of the "grand bargain" that Obama had initially hoped for, putting off negotiations over spending cuts and the debt ceiling.
Republicans have indicated that they plan to put up a tougher fight over these issues in the next Congress, guaranteeing a protracted battle that the White House had initially sought to avoid.
(Excerpt) Read more at businessinsider.com ...
Problem is he feels all the “unnecessary spending” is the military, and anything taking care of old white people. Beyond that, it’s just peachy to the prez...
And he is a LIAR !!! Reduce the debt — NEVER !!! He will just spend all the more money he (and the bent socialist Congress) steals from Americans.
“Tonights agreement further reduces the deficit by raising $620 billion in revenue from the wealthiest households.”
I don’t believe this for a minute. When the “threshold” for “millionares” was at $200K and $250K, the additional revenue was approximately $70-80B a year. Of course that also makes the false assumption that economic activity is static. This new “threshold” for the “super rich” is some portion of that original number. I have not yet seen what it was, but it is 100% already spent between the Sandy relieve bill at $60+B just passed and the Fed employee raise at $11B...
Hey, what bowl game is tonight....
In order for the Reps to avoid the reductions in military spending, they will have to agree to increased revenues whether thru taxes or closing loopholes, etc. The Reps who were afraid of going over the fiscal cliff are just as afraid of government shutdowns due to a failure to increase the debt ceiling. Prepare for another cave by the Reps.
If his policies are designed to reduce the debt, then why does he need to raise the debt ceiling?
If he’s going to cut spending soon, then why raise the debt ceiling more than the amount needed to get us to the point where he lowers the debt?
Shouldn’t he be able to lower the debt ceiling pretty soon?
He just claimed to have cut spending by $1T in 2011.
He should not need to raise the debt ceiling...
He’s already got about half of that $620B allocated for new spending...and you can bet that is a low-ball estimate on the spending.
That $620B is already gone...
Obama must think his voters must either A.) Not get paychecks or B.) Be too dumb to notice that their paychecks got smaller.
The Sandy bill did not get passed and the pay raise was rescinded...
But they will both be back soon...
How does he even get to the $620B number? The “threshold” was raised, therefore reducing the number of Americans effected and somehow it moves from $80B to $620B.
He just pulls numbers out of his arse.
There will be no defict reduction. He wants to raise taxes even more, cut defense and then increase spending even more. There no one even willing to even try and fight this insanity.
Think sometime before the Obama pResidency ends that we’ll see the day that our soldiers end up thumbing a ride back home like the Soviets did during their collapse?
His continued “presidency” may be in jeopardy...
If I don’t have this done in [whatever], then this is going to be a two-term proposition.
47% of the country doesn't see the humor in this. We are so screwed.
And then the deficit ceiling "fight" lies ahead... I wish I could laugh.
He lies to the cameras, and then does just the opposite because people don't pay attention. All they see is the MSMs version of reality. If engaging in jihad, the Koran says it's OK to lie. In fact, it's encouraged.
It's like I've always said. He's finishing the job the Muslims failed to do on 9/11.
Destroy the economy - check.
Destroy our military - check.
Destroy our form of government - check.
Prove me wrong. He is "the one" the Muslims have "been waiting for."
The Communists claimed the only way to destroy the U.S. is from within.
Add his Muslim faith, his communist upbringing, and his hate for anyone white, and you get the real Oboma. You immediately KNOW what he's trying to do.
Obama has repeatedly said he will not have the debt limit fight again. Does he plan to have a Morsi moment by dismissing the courts, the congress and declaring martial law by instigating a crisis and writing a new constitution? He cannot raise the debt limit by executive order. Is he bully-pulpit bluffing like most cowards do? BTW was it treason to aid and abet the terrorist enemy, the Muslim Brotherhood, by sending 20 F-16’s to Egypt which may use them against Israel?
You'd think yours and all of the other excellent points posted so far could easily be made by the Pub *leadership*.
Sadly, I fear, that won't happen. They'll continue to be cowards and cave to whatever 0 asks for.
And how does he propose to eliminate debate on raising the debt ceiling?
In addition to blocking Congress from getting a pay raise, the major overriding reason for passing this bill was to reverse the New Years Day tax hikes on Texas families and small businesses and to once and for all make lower taxes a permanent rea
His staffer wouldn't even explain his YES vote - he said it was posted on his website. Pathetic.
I agree that they need to be primaried--all of them.
The yes votes and the “Didn’t Vote” votes gave our money, our childrens’ money, and the next 100 generations’ money away to the Communists CRIMINALS.
This bill guarantees the bastards will vote for a rise in the debt ceiling - it adds almost $4 trillion to the debt - and it does not contain ANY real spending cuts. What a deal - $1.00 in “cuts” for every $41 in taxes. Real cuts in spending will never happen - until the entire economy crashes. The U S has more debt per capita than Greece.
Don’t be silly. You have asked sensible and logical questions but we are dealing with Democrats and RINOs.
The GOP had 19 House members resign, 6 lose a primary and 16 get defeated in the General. I’d bet a dollar to a donut that at least 90% of these are on this list, and the rest are from districts that were begging to be ‘saved’ from the fiscal cliff. I.E. every so-called Northeast Republican.
He won’t need to sign an EO. All he needs is for the republicans to cave. And they will. I guess someday they want to be able to say “We told you this would happen but we were forced to go along.”
There is only one party. And all the members want to destroy this nation if they filling their purses by doing it.
Wait a second. The Perfect and Holy Libertarian St. Ronpaul didn’t vote “no” on that bill? Well that’s a great way to say good-bye to Congress. If there was ever an obvious “no” vote in Ronpaul’s storied career in Congress as “Dr. No,” last night should’ve been it.
Only because decorating lamp-posts with them gets you talked about in the newspapers.
He’ll claim executive authority to raise the debt ceiling under Section 4 of the 14th Amendment. Then dare the Courts (Congress being irrelevant) to do something to stop him.
roll call bump for later.....
They're both just treading water. There is no economy. They've both got their planes and bunkers ready.
The welfare state got out of control years ago. Welfare addicts bred welfare addicts, and the left needed the lost to win elections, so they kept offering them more fixes. It's gotten to the point where the drug is gone. It's been used up. They can't do anything about it now without risking massive social unrest. No politician wants to face it (except for Oboma and the hard left. They're drooling at the prospect of being on top when it happens, so they're trying to rush it along - never waste a great manufactured crises! They would become Gods.)
It's important for us to hold out in peace until this administrations term is over. They're going to push and push us hard. Don't let them pull it off. We need sane people in charge when our time has run out and it's time to pay the piper.
Agree with you...ceiling will be raised. Credit rating will be downgraded again. Can’t figure out the exuberance of the market today...short lived.
Good deal for the investor and owner class, making the Bush dividend tax cut permanent. This saves a lot of money in tax bills.
Being someone who abides by the Constitution, I am sure Paul believed that he was no longer in office and thus could not vote. His term had expired.
“...The Communists claimed the only way to destroy the U.S. is from within.
Add his Muslim faith, his communist upbringing, and his hate for anyone white, and you get the real Oboma. You immediately KNOW what he’s trying to do...”
Absolutely. But he could never do it alone. The corrupt and bent Congress and the leftist media are his enablers. Without them, he would NEVER have gotten to where he is. This of course, assumes the stupid and mindless portion of the electorate that votes for him, or rather his welfare handouts. The deck was totally stacked in his favor — all he had to do was buy the votes.
No way! Of course I never thought I would ever see the anti-American crap by our government ever before either. So....
In saying that Congress has the responsibility to pay the bills for the laws they pass, he has a point...
RE: In saying that Congress has the responsibility to pay the bills for the laws they pass, he has a point...
The majority of THIS CONGRESS are stuck with a bill they did not vote or want to pay for — Obamacare. In fact, most of those elected to this Congress were elected on a platform of fighting AGAINST Obamacare.
Do they have the responsibility to pay for this?
There is petition to NOT increase the debt ceiling on WhiteHouse.gov: