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What happens to the legislation set up last year to impose the fiscal cliff impact?

I'm getting tired of the "See, and you guys didn't like Romney, so this is what you get" garbage floating around lately. Assume a Romney Administration with the so-called 'fiscal cliff' debate extended into his watch, and this is what you've got: WH: Republican. Congress: Republican. Senate: Democrat or barely Republican and not able to sustain a filibuster. Here is President Romney at his press conference announcing a deal on the 'fiscal cliff', "As you know, Senate Democrat leaders have been intransigent on a budget deal that would avoid the fiscal cliff. In order to protect as many people as...

The "fiscal cliff" deal approved by the Senate in a 89-8 vote early this morning, and which is under consideration by the House of Representatives today, punishes work and rewards unemployment. The deal fails to renew a payroll tax holiday that had been in effect for two years, with the result that working families could see their tax bill rise by up to $2,000. Meanwhile, the deal extends unemployment benefits for a full year--and as economist Robert Barro has demonstrated, longer benefits lead to higher unemployment. Effectively, Washington has decided to create new penalties for work, and new incentives for...

Last night, the Republican-held House of Representatives voted for the dreadful Senate bill laughingly called “The American Taxpayer Relief Act of 2012.” How is adding $4 trillion in Federal budget deficits over 10 years called “relief?” SOMEONE has to pay for the out-of-control spending. And that someone is taxpayers. american.taxpayer.relief.act Here is CNBC’s Rick Santelli’s take. The reaction? Fiscally-blighted European countries Portugal, Italy, Greece and Spain (PIGs) all saw sharp reductions in their sovereign bond yields. The US 10 year sovereign yield rose 7.1 basis points as of 12:35p EST. The Dow Jones Industrial Average rose 224.60 points (or 1.71%)...

Gonna primary these Obama-enabling tools  in 2014 (if any of us are still in the GOP by then) Alabama --- Alaska Young, Donald “Don”Alaska At Large Arizona --- Arkansas Womack, SteveArkansas's 3rd congressional district California Bilbray, BrianCalifornia's 50th congressional district Bono Mack, MaryCalifornia's 45th congressional district Calvert, KenCalifornia's 44th congressional district, Denham, JeffCalifornia's 19th congressional district Dreier, DavidCalifornia's 26th congressional district Gallegly, EltonCalifornia's 24th congressional district Herger, Walter “Wally”California's 2nd congressional district Lungren, Daniel E.California's 3rd congressional district McKeon, Howard “Buck”California's 25th congressional district Miller, GaryCalifornia's 42nd congressional district Royce, Edward “Ed”California's 40th congressional district Colorado --- Connecticut --- Delaware...

After spending months telling Americans that the fiscal cliff deal was the most important thing facing their nation, Barack Obama has gone back to his vacation. Within a few hours of the bill's passage last night, he was enjoying the comforts of Air Force One, en route to Hawaii. Heaven forbid he’s forced to sacrifice any more of his multi-million dollar getaway.

Last night, the House of Representatives signed off on a deal to avert the massive tax hikes and spending cuts known, nearly posthumously, as the "fiscal cliff." Today we are a presidential signature away from the official end of this absurd national nightmare. But did the president make a bad deal? Did he make a secretly ingenious deal? What's in it, anyway? Those are questions. These are our answers ... What's in the fiscal cliff deal? The Tweet-length version of this deal is: No more payroll tax holiday, higher taxes for the super-rich, and we'll figure out the rest later....

One item within the bill that was hurriedly passed in the wee hours — presumedly without reading it — was a one-year extension of a tax credit for wind energy. For new installations, it gives the industry a 2.2-cent credit per kilowatt-hour of energy produced for the first 10 years the installation is in operation. In a related story, Breitbart.com reported an extension of a tax incentive favoring the film industry. Section 317 of the freshly approved legislation includes an extension for “special expensing rules for certain film and television productions.” Congress first enacted production tax incentives favorable to the...

Bachmann, West, Marco Rubio, Tim Scott,even Eric Cantor stand their ground while  Paul Ryan deeply disappoints conservatives Surely I'm not the only one who will be quitting the Republican Party -and I mean next week- if they keep spineless RINO nothing John Boehner (and even worse traitor Mitch McConnell) in a position of power, not now that they've kowtowed to the vile Obammunist regime yet again and ditched whatever speck of principle they ever had with an utterly appalling 41-1 tax increase/spending cuts ratio that can't spun any other way than complete and utter capitulation. What's the point of sticking with a party where even Paul Ryan...

Someone is running amok at C-SPAN, the nonprofit network where political junkies get their kicks watching the inner workings of Congress. In the wee hours of Tuesday morning, as most of the country partied away the first few hours of the 2013, anyone who was watching C-SPAN at 1:27 a.m., breathlessly waiting for the Senate to pass a deal on the fiscal cliff, would have seen a somewhat odd caption over Iowa Sen. Tom Harkin: “Just Plain Dick.” The caption was memorialized by Erin Skinner Cochran on Twitter, and reported by Jim Romenesko on his media blog.

Mitch McConnell has many virtues as a legislator. Unfortunately, brokering deals advantageous to Republicans is not one of them. McConnell’s defenders will say that his most recent deal was the best any Republican could do under the circumstances. Perhaps. But this defense ignores the fact that it was McConnell’s prior deal — the one creating the “fiscal cliff” — that established these adverse circumstances. Let’s step back and consider the impact of McConnell’s deals on the valiant effort of House Republicans in 2011 to use the debt-ceiling to attack the debt. So far, the results are as follows: (1) the...

Pete Sessions makes me sick - he's voted RINO every single time. I'll be supporting his opponent next time or not voting for him.

DON'T DO IT. To Boehner, McConnell, Cantor, and all other Republicans in the House, under NO circumstances shall you betray your country, party and our Constitution by feeding into the Socialists' (masquerading as Democrats) continued assault on the American economy. You MUST realize by now that the mission of the Obama regime is to force the United States into a debt we will NEVER recover from.. His 'Cloward & Piven' strategy of dispensing entitlements like candy and spending relentlessly without any regard to cutting spending for the purpose of CRASHING OUR REPUBLIC FOR REPLACEMENT WITH HIS NATIONAL SOCIALIST UTOPIA is...

Not an Awful Deal By QUIN HILLYER on 1.1.13 @ 10:16AM After about an hour of studying last night’s budget deal, I find it right on the borderline between (A) awful-tasting medicine we still need to take for our health and (B) a cure that is worse than the disease. But careful, careful attention pushes the calculation every-so-slightly toward the former. This isn’t even a 51-49 proposition, but only a 50.1-49.9 proposition. Still, here’s why the option of a “yes” vote for House Republicans — notwithstanding my warnings yesterday that “no deal” is better than a bad deal — is...

**SNIP** “Under current law, on January 2, 2013, there’s going to be a massive fiscal cliff of large spending cuts and tax increases,” said Bernanke, in testimony to the House Financial Services Committee on February 29, 2012. **SNIP** What’s likely, is that as members on the Hill grew concerned with the stalemate over the automatic spending cuts and tax increases, the communications apparatus went to work and settled on “fiscal cliff,” members started using, Bernanke used it, and suddenly it explodes in the media and becomes codified as short hand for a complex issue. There you go. From early films...

Several Republicans took to the House floor Tuesday afternoon to slam the Senate-brokered "fiscal cliff" bill that was passed earlier in the morning, calling it a rush job that raises taxes and delays most of the spending cuts planned for this year. "So we find ourselves again with a bill that reflects not financial wisdom, but the seductive spirit that pervades this town," Rep. Scott Rigell (R-Va.) said. "Leaders in Washington continue to over-promise. They're likes salespeople who tell their customer they can have an $30,000 car but only pay $18,000 for it. Who doesn't like that deal?" Rep. Louie...

Say Yes to the Mess 12:15 PM, JAN 1, 2013 • BY WILLIAM KRISTOL The fiscal cliff deal that the Senate passed early this morning is ridiculous in too many ways to count. There seem to be no figures from the Congressional Budget Office and only "very preliminary" figures from the Joint Tax Committee about the real spending and revenue implications. The two month delay of the sequester will make actual governance even more difficult (how is the Pentagon supposed to plan for the rest of the year?). The sequester delay is funded by a gimmick with retirement savings tax...

Obamacare contains twenty new or higher taxes. Five of the taxes hit for the first time on January 1. In total, Americans face a net $1 trillion tax hike for the years 2013-2022, according to the Congressional Budget Office. The five major Obamacare taxes taking effect on January 1 are as follows: The Obamacare Medical Device Tax: Medical device manufacturers employ 409,000 people in 12,000 plants across the country. Obamacare imposes a new 2.3 percent excise tax on gross sales – even if the company does not earn a profit in a given year. In addition to killing small business...

The White House issued a "fact sheet" statement Tuesday declaring the fiscal cliff agreement a victory, though the House has yet to vote on the measure. "At this make or break moment for the middle class, the President achieved a bipartisan solution that keeps income taxes low for the middle class and grows the economy," the statement says. "For the first time in 20 years, Congress will have acted on a bipartisan basis to vote for significant new revenue.

The White House issued a "fact sheet" statement Tuesday declaring the fiscal cliff agreement a victory, though the House has yet to vote on the measure. "At this make or break moment for the middle class, the President achieved a bipartisan solution that keeps income taxes low for the middle class and grows the economy," the statement says. "For the first time in 20 years, Congress will have acted on a bipartisan basis to vote for significant new revenue.