President Obama And The Lame Duck Congress
http://thedianerehmshow.org/shows/2012-11-26/president-obama-and-lame-duck-congress
Diane and her guests talk priorities and prospects for compromise on tax rates, spending cuts and other key policy decisions in the final weeks of the lame duck Congress.
Guests
Ron Elving
senior Washington editor for NPR.
Amy Walter
political director for ABC News.
Julie Hirschfeld Davis
congressional correspondent for Bloomberg News.
Comments
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Move to the center and stand for nothing. That is what T-Party/Republicans want President Obama to do. Give in to the T-Party/Republican demands to destroy Social Security and Medicare,the signature programs of Democrats.The programs that help millions of Americans,and are fully funded. Concede on the truth that tax cuts are not free. The Bush era tax cuts have added TRILLIONS to the debt. The Iraq War which was to be funded by Iraqi oil,those monies can`t be found. The U.S.Treasury doesn`t have it. The Iraqi`s don`t have it.My guess is Cheney hid it in his Dubai account .
Mr. President,you must stand strong against the T-Party/Republican`s,and their quest to destroy all that is decent in America. Save the middle class.Save our jobs from the "Job Creators" shipping them to China. Save us from the "Stupid is as stupid does" idiocy that is today`s T-Party/Republican.Do not give in to the economic terrorism of the T-Party/Republicans. No more,serial extortion.
"Fiscal cliff,or Stairway to Heaven"."The truth shall set you free"!
If I go to hell, well then I hope I burn well.
http://www.youtube.com/watch?v=OIUojvT5yTo
You can't take any of this seriously, the politicians don't. They just came back from a 12 day vacation. Not to worry government entitlement leeches, you will get another reprieve as the can is kicked down the road once more. The days of huge spending cuts are coming.
The current oath was enacted in 1884:
" I do solemnly swear (or affirm) that I will support and defend the Constitution of the United States against all enemies, foreign and domestic; that I will bear true faith and allegiance to the same; that I take this obligation freely, without any mental reservation or purpose of evasion; and that I will well and faithfully discharge the duties of the office on which I am about to enter: So help me God".
How do you negotiate with traitors to their country, who have disavowed their sworn oath of office,in favor of the wishes of a political party boss? A domestic terrorist like Grover Norquist,is still a TERRORIST !
There was NO reason these issues became so important.EXCEPT,that of the Obama presidency.It make for great talking points. Forgetting totally who charged all these debts. For the 1st time in our nation`s history we went to war (s)with no way to pay for them. T-Party-Republicans demand we empty our people`s retirement account,aka,Social Security System,to pay for the fraudulent T-Party/Republican Wars.
I guess I don't understand why the GOP opposes tax rates similar to those that were in place when Reagan was president. Or maybe rates set to where they were the last time the economy was doing really good, back in the 90's. Clearly having the lowest federal tax burdens in 60 years has done little to nothing to create jobs, but it has added to the debt.
We need to throw the south out of the union and then make overtures to select Canadian provinces probably based on their resources.
There's no reason to stay in a bad marriage which is what we have now. In fact it harms us all to go on as if we can.
Diane and guests:
Half the country didn't seem to notice that payroll taxes were cut by President Obama.
What makes you think they'd notice a few percent increase in payroll taxes if we go "off the cliff?"
The average Household income in the US is approximately $50,000 so for every $50,000 in taxes that is one household that is being removed from the private sector. Now you can say that the rich don't make jobs with their wealth, instead they invest it, or buy toys. or put it in the bank.
If they invest they are putting the money back into the economy that creates jobs.
If they buy toys, then yacht makers and the like hire employees and those employees buy food, cars, housing...
If they put it in the bank the bank can loan out 7 times the value to persons and businesses so that they can expand and put a lot of economic value in the system.
The only way to not build jobs is to put the money in foreign banks, or to give it to the government so they can spend the money not making jobs but giving it away. Now I do not have a problem with foodstamps and well fair for those that absolutely need it. But building jobs is a long term solution versus the aforementioned short term solutions.
More money in circulation in the united states is the best cure to our economic woes. So I agree changes need to occur, create incentives to keep money here and stop buying all of your widgets from china and japan. So if you are reading this on a communist made Ipad please feel free to tell me how buying from china is a better plan.
No members of the House and Senate can serve without taking the oath of office; it's a requirement of Article VI of the Constitution. The oath requires members of congress to "faithfully discharge the duties of the office...without any mental reservation or purpose of evasion."
Certain members have betrayed this oath by pledging allegiance to Grover Norquist, a lobbyist. In doing so, they relinquish their "Power to lay and collect taxes."
Unwillingness to raise capital in a time of war to support the Defense Department obstructs the military's ability to recruit.
Under the section 3 of the Espionage Act, and because we are a nation at war, Norquist, and those who have signed his pledge, must be prosecuted accordingly.
http://wh.gov/X5pl
Everyone agrees that the "George Bush" 10 year tax rate was a 'break' for the wealthy, The theory being that more money at that level promotes investment. That theory has been proven wrong.
Taking away that 'break' only means bringing things back in balance. Why the Republicans resist taking this step is bewildering.
mnemecek wrote:
"The average Household income in the US is approximately $50,000 so for every $50,000 in taxes that is one household that is being removed from the private sector. Now you can say that the rich don't make jobs with their wealth, instead they invest it, or buy toys. or put it in the bank.
If they invest they are putting the money back into the economy that creates jobs.
If they buy toys, then yacht makers and the like hire employees and those employees buy food, cars, housing..."
Awesome post, mnemecek. Thanks! You get it. The Clifford's, et. al., simply do not.
Would the US credit rating change if we go over the cliff, even briefly and should we care?
The senior issue and Romney. Let's be honest most seniors don't give a rat's ass when it comes to medicare, social security cut backs because it would not effect them. Look at local tax increases for schools etc Seniors in large groups vote against them. Many of them have the disease of "I've got mine"
Diane hope you and your team do a one hour show on why President Obama and his Attorney General Eric Holder have yet to hold one Wall Street foreclosure fraudster accountable. This is one of the areas that Obama and team have failed miserably
J.A. Rainier wrote:
"Certain members have betrayed this oath by pledging allegiance to Grover Norquist, a lobbyist. In doing so, they relinquish their "Power to lay and collect taxes."
Unwillingness to raise capital in a time of war to support the Defense Department obstructs the military's ability to recruit.
Under the section 3 of the Espionage Act, and because we are a nation at war, Norquist, and those who have signed his pledge, must be prosecuted accordingly."
Then prosecute the President too. He has pledged allegiance to labor unions and trial attorneys. I dare you to try to define the difference between them. There isn't any - except that the one pledge you like, the other you don't.
Where is the conversation on government privatization? The military`s cost has tripled since we`ve privatized,in just over a decade? Here locally,we`re getting pounded by rising costs to taxpayers for this insane failed scheme?....
IRS Fraud is rampant. Congress should address the TAX LOOPHOLEs, particularly the Additional Child Tax Credits that is costing US Tax Payers upwards of 6.5 BILLION US dollars. The Government could save 6-7 BILLION dollars per year if they DISCONTINUED THIS LOOPHOLE. The Crime is that the IRS is well aware of the magnitude of this problem, and yet, has DONE NOTHING to rectify it. NEWS 13 reporter Bob Segall spent three months researching and reporting this outrageous cost to Taxpayers.
Failure of IRS Oversight allows this rampant fraud to continue. Subject of misuse of ITIN#s: fraudulent deductions by illegal aliens using ITIN#s to receive refunds (tax refund checks) to undocumented and documented Mexican and Latino workers PLUS their children, nieces, nephews who live in Mexico and have NEVER LIVED in the US. These are FALSE claims, and this is a fraudulent deduction: ADDITIONAL CHILDREN TAX CREDITS. The IRS is well aware of this fraud, and does nothing. This device is misused to pay for children & families living in Mexico, who have NEVER lived in the US, but may have one family member who works in the US. Congress needs to stop this abuse and save the US 6.5 BILLION $ annually.
Does 51% of the popular vote give Obama a "Mandate"? That seems awfully close!
A few years ago, even Obama said the immense and growing national debt and deficit was "Unsustainable".
Also, is it true (as claimed by republicans) that you could take all the rich peoples' money (not just more taxes from them) -- and that would not solve the problem of overspending - taking in less than is going out?
@Barbara Davis
"Careful, Barbara. I believe that makes you a racist", he said tongue planted firmly in cheek.
"How do you negotiate with traitors to their country, who have disavowed their sworn oath of office,in favor of the wishes of a political party boss? A domestic terrorist like Grover Norquist,is still a TERRORIST !"
=================
A bit over the top, perhaps? Would it be fair to call Democrats, pushing hard to take from the wealthy and spread it about in a manner that supports their social vision, as income redistributing socialists?
What is the percent of the national debt for welfare ?
I have not heard any comment about this as an entitlement program
The lower tax rate on capital gains and dividends and the special treatment of carried interest are an insult to the working people of America. Why isn’t there more discussion of removing these provisions?
You know, we already have a tax law on the books that was meant to fix this problem of people not paying enough taxes. It's called the AMT. The alternative minimum tax, if properly fixed and indexed to inflation can be used to ensure that no one pays less than a certain percent of their income. Why is our government so short sighted?
mnemecek wrote:
"If they invest they are putting the money back into the economy that creates jobs.
If they buy toys, then yacht makers and the like hire employees and those employees buy food, cars, housing..."
1. Greatly depends on what you deem to be investing. Privately funding a start-up company is great. Throwing money at the stock market does very little to help the economy and certainly doesn't cause companies to hire more. Many rich (and certainly the very rich) get their money from playing the stock market so it makes sense when you read studies that say giving these people tax breaks doesn't help the economy.
2. Your second comment I quoted seems to remind of the show Downton Abbey. Rich people living their rich lives enriches those around them with the run-off of their excess. A strong middle class and small upper class has always been the hallmark of a strong civilization.
The Wal-Mart protests have shown that the rich (The Waltons) can be supermegaoutragiously rich and still not allow the workers who made them rich to even become the lowest of the middle class; instead preferring to keep their hours at part-time to avoid paying benefits and allowing them to earn a living wage.
Another example is Apple which, as the most profitable company in the world, barely attempts to make it so that the people who build their products have a good enough pay and working conditions that they don't need suicide nets at their locations!
Tax the rich? Yes. If they're truly adding anything to the economy then they will continue to do just fine.
Clifford's comment (November 25, 2012 - 1:19 pm), beginning "Move to the center and stand for nothing," is one of the most eloquent rejoinders to the Grover Norquist theory of governing I have come across, something I will save and pass around.
It would be nice to see this congress (which is the opposite of progress) address the issue of actual entitlements - the huge retirement benefits the elected officials receive FOR LIFE after they finally lose re-election need to be cut in half - at least in half.
Extravagant expenditures such as the retirement packages given people who do not get re-elected are entitlements.
Social Security benefits are not entitlements due to the fact that working class people pay into the Social Security out of each and every pay check they earn.
To lose re-election means you are qualified for retirement benefits for the rest of your life without ever having to pay into a fund of any kind to receive this money.
That is an actual entitlement that is not a paid into benefit.
This is the type of federal spending that needs to be cut - but we know the elected ones will never let go of all the entitlements they are given.
DEBT?
The real problem is the interest the federal reserve, a private for-profit corporation, charges the U.S. government for the privilege of creating currency.
The real answer is to take that privilege away from the federal reserve cartel.
Too many people think the federal reserve is a government agency - it is NOT!
We need to find the truth - not "fair and balanced" but actual truth.
Even if it were enacted tomorrow none of today's seniors would ever have to suffer Paul Ryan's Medicare plan. Today's seniors are explicitly excluded. That today's seniors voted for Romney/Ryan is absolutely *not* a legitimate endorsement of the Ryan plan. The only voters whose opinion matter are voter's under ~55 today who would have to suffer under Ryan's plan.
Re:What percentage of the deficit is due to "welfare".
Be aware that Fed "welfare" (not EIC) is not really part of the Fed budget/deficit.
Remember the Clinton-Gengrich stuff back in the 90's? True administration of welfare is now in the hands of
Governors - 30 are Republicans. Lies perpetrated during the campaign Re: Obama cutting work requirements
were bogus - Governors in the states asking for more flexibility were Republicans
- realistically they could INcrease work requirements at the state level.
Re:Earned Income Credit: the brainstorm of Richard Millhouse Nixon, plus his theory of a national minimum
income for families again was a Republican notion (aka social engineering) to incentivize
WORK.....didn't pan out the way Tricky Dick thought.
To make taxes fair would require complete tossing out of existing code, rewriting it from scratch
approximating what each family type, business type, and individual pays now, then writing it so that
EVERYbody puts in at least a bit to produce required revenue to run an efficient government
- and eliminate ALL deductions/credits -- BUT that is never, ever going to happen as described
by one of the panelists - too many entrenched powerful forces.
The "best" we can hope for is relatively minor tweaks that bring in more "revenue" and a modicum of pain
for EVERYone. Face it, the ultrawealthy are vastly separated from any pain. That bogus non-existent group
of "job creators" never really created the jobs they promised anyway (...11 years and counting..).
Those who have owned small businesses can vouch for the fact that taxes were NOT really part of the
thought process in starting/operating a business - it's the independence along with the thrill of the
process itself. You gotta love work if you start a business.
As a 'Tax and Spend Democrat' I`m offended by the T-Party/Republican idiotic spending spree ,with no way to pay,EVER. I grew up with Fort Knox and a country funded by a fortress of GOLD. All missing since Richard (I`m not a crook) Nixon by the way. Democrats have traditionally applied "Tax and Spend" policy . We`ve taken the political heat for those policies. Tax or fund before you spend.
Social Security is funded. Medicare is funded. The CHIP program is funded. Heck,even OBAMACARE is funded.
When will the people demand to T-Party/Republicans they find a way to pay for their stuff and damage?
I love the children and grand children malarkey. DON`T TAX MY CHILDREN AND GRAND CHILDREN FOR MY SELFISHNESS OF TODAY !! BUT IT`S OKAY TO SCREW OUR CHILDREN AND GRAND CHILDREN OUT OF THEIR SOCIAL SECURITY AND MEDICARE ??????
Kathleen wrote: "Diane hope you and your team do a one hour show on why President Obama and his Attorney General Eric Holder have yet to hold one Wall Street foreclosure fraudster accountable. This is one of the areas that Obama and team have failed miserably"
The answer, Kathleen, is that you have to look at who Obama's chief financial advisors and cabinet members are and have been...
-Gene Sperling
-Dailey
-Michael Froman
-Larry Summers
-Rahm Emanuel
All of which benefitted greatly from the financial disaster. Why do you think the administration has not held anyone accountable?