By Charles Kadlec – The false premise championed by President Barack Obama and his fellow Democrats is higher tax rates on “the rich” are the key to fiscal balance.
The false premise championed by House Speaker John Boehner is that the number one driver of future deficits is entitlement spending in the form of Social Security and Medicare.
False premises are dangerous because they lead to bad policies.
Currently, the negotiations over the budget are based on the CBO’s assumption that real economic growth will average a paltry 2.8% over the next 10-years. Just getting back to the average of 3.1% would reduce projected deficits by more than $900 billion. more> http://tinyurl.com/cdbw6xp
English: U.S. President is greeted by Speaker of the House before delivering the . (Photo credit: Wikipedia)
By Niall Stanage – The call of history is strong. Obama, having massively reshaped American healthcare in his first term, has the opportunity to make a pact that repairs the nation’s balance sheet, which has been on a perilous path for more than a generation.
Boehner has the chance to strengthen Republican claims to fiscal responsibility and put the lie to critics’ charges that the GOP is the party of “No.”
The two leaders met Sunday (Dec 9) at the White House to seek common ground. Aides to the president and the Speaker gave the same statement when asked about the meeting, saying “the lines of communication remain open.” more> http://tinyurl.com/ba98ust
CONGRESS WATCH Pelosi Statement on November Jobs Report, US Congress House Democrats File Discharge Petition To Force Vote On Middle Class Tax Cuts, Gavel/US Congress Pelosi Challenges Republicans To Put Up A Vote On Middle Class Tax Cuts, YouTube [VIDEO … Continue reading
By Thomas Ferraro and Mark Felsenthal – Republicans in Congress and President Barack Obama consumed much of Wednesday talking up their positions on the “fiscal cliff” and though Obama and Republican House Speaker John Boehner spoke by phone, neither side offered any new compromises in public.
Asked in an interview with CNBC if the administration was ready to go over the so-called fiscal cliff if Republicans don’t come around on taxes, Obama’s chief negotiator, Treasury Secretary Timothy Geithner, responded: “Oh, absolutely.” more> http://tinyurl.com/cep7krk
Posted in Business, Economy, Leadership
Tagged Barack Obama, Business, Congress Watch, Financial crisis, Government, John Boehner, Leadership, Timothy Geithner, United States, United States Secretary of the Treasury