Wednesday, January 11, 2012

$1.2 trillion, This is no thrill, It's our future

You all know Obama is destroying the US with outrageous deficit spending and the entitlement state, it's not like you are delusional, but if you are about to vote for him a 2nd term, then you are a fool and a racist and a socialist to vote Democrat.  

You guys think a Republican would do a worse job, but it isn't true. If you listen to the Republican candidates they all want to work toward a balanced budget while you hear Obama saying he wants to raise the debt ceiling and taxes by another $1.2 trillion. 

Can't you swallow your pride and do what is best for the economy and country? Or, are you just unaware that it's YOU who has the power bring about that change that Obama spoke so forcefully of during his first run for the office.

You also know that Obama is the most corrupt politician since Nixon; he has received more money from Wall St and special interest hedge funds than all of the Republicans combined.

So, if you do not love America, then you love the European entitlement state, which is exactly where we're headed.

Don't get it wrong, he's not stupid, but he is a socialist and wants to bring socialism to America and do away with capitalism as we all know. He is influenced by Keynesian economics and driven by Saul Alinsky's radical agenda. His love for Cloward & Piven while studying under Frank Marshall Davis years ago which has made him a communist supporter to say the least. This can all be googled and verified. Barack Obama gaffes, from the most intelligent human that the left wing could find to guide them to socialism.

That's why he wants another $1.2 trillion in Money yet to be made. I employ you to put the Kool-Aid down, shake the effects off and decided for at least 100 years of slavery and debt or economic growth and freedom.

Throughout 2011, Congressional Republicans have battled President Obama and the Democrats who control the Senate over federal spending and taxes Emboldened by the gains in the 2010 elections that gave them the House, Republicans have pushed for steep cuts in discretionary spending and for reshaping entitlement programs like Medicare and Medicaid. The clashes brought the government within hours of a shutdown in April, threatened another shutdown in October and put the country within days of a possible default in August.

The two sides have agreed on a series of short-term spending cuts but stalemated over longer term budgets. In July, talks on a “grand bargain’' proposed by President Obama to cut the deficit by $4 trillion over 10 years collapsed over Republican opposition to the $1 trillion in new revenue he was seeking. A deal allowing an increase in the debt ceiling moved that debate to a special deficit reduction committee that was asked to come up with $1.2 trillion in savings; the committee deadlocked in November Earlier in the fall, Mr. Obama had proposed a $447 billion jobs bill, a mix of spending programs, tax cuts and tax increases meant to revive the flagging economy; it was rejected by Republicans who said its tax increases would kill more jobs than the package would create. A mix of spending programs, tax cuts and tax increases meant to revive the flagging economy; it was rejected by Republicans who said its tax increases would kill more jobs than the package would create.

The final fights of the year revolved around measures due to expire on Dec. 31: a payroll tax cut and extension of unemployment benefits that were part of a deal reached by Mr. Obama and Republicans in 2010, and an item that has been dealt with annually by Congress for years — the “doc fix’' to prevent steep cuts in Medicare payments to providers The debate has centered around the payroll tax cut, which reduced the tax paid by employees and the self-employed from 6.2 percent to 4.2 percent —. Both parties have said they want to extend it although many conservative Republicans in the House initially said they were reluctant. Reaching an agreement was complicated first by questions of whether the cost should be offset — the 2010 tax deal was not — and how; by environmental provisions put forward by the House; and by a House proposal to limit access to unemployment benefits.

In November, Senate Democrats proposed reducing the payroll tax further, to 3.1 percent, for 2012, and cutting employers’ taxes on the first $5 million in taxable payroll to the same level. To pay for the cut, their bill called for a 3.25 percent tax on gross income over $1 million for single filers and married couples filing jointly. After Republicans blocked that bill, the Democrats proposed a new version that dropped the employer tax cut. In mid-December, House Republicans passed a bill to continue the tax at 4.2 percent for another year, paid for in large measure by extending a freeze on federal salaries. But the measure contained other measures opposed by Democrats, most notably a provision meant to speed the approval of the Keystone XL pipeline, which would carry oil from Canada to the Gulf Coast. Mr. Obama, who in November announced that he would delay a decision on the pipeline, said he would veto the House bill if it became law.

The two parties were also debating an extension of jobless benefits which otherwise would begin to run out early in 2012 for many of the long-term unemployed. Currently, benefits can run for up to 99 weeks. Democrats saw an urgent need for extending the benefits, since the average duration of unemployment, now 40.9 weeks, is the longest in more than 60 years. The House bill called for limiting benefits to 59 weeks.  Benefits to 59 weeks in what at first appeared to be a resolution to the conflict, Senate leaders negotiated a bipartisan package to extend the payroll tax and unemployment benefits for two months, giving both sides more time to fight over a more comprehensive bill. The $33 billion package passed the Senate by a vote of 89 to 10 on Dec. 17. It would keep the Social Security tax paid by most workers at 4.2 percent rather than 6.2 percent, extend unemployment pay for those soon to lose their benefits, and avoid reductions in Medicare payments to doctors. The measure would be effective through February.

On Dec. 20, the House voted to reject the Senate bill and called for negotiations with the  Senate on a full-year extension By then, the Senate had already gone home for the holiday recess, and the majority leader, Harry Reid of Nevada, said he would not renew talks until the House passed the two-month extension Pummeled by Mr. Obama, Democrats and a growing number of Republicans, the House leadership sought to find a way out of a situation  in which they were being blamed for putting 160 million Americans 1. On Dec. 22, the Senate Republican leader, Mitch McConnell, proposed that the House accept the Senate bill and that Mr. Reid in return name the members of a conference committee to negotiate a longer-term deal with the House. Hours later, the House leadership agreed to go along with that approach, which they had rejected only days before, despite strong opposition from conservatives.

The next day, the weeks of bickering ended in under an hour, as first the House and then the Senate adopted by unanimous consent a bill to extend the payroll tax holiday and unemployment benefits and to maintain the fee levels for doctors who accept Medicare The bill also called for Democrats to appoint conferees to a bicameral committee to come up with a longer-term measure, a request from the House Republicans.

This latest request is the third of three requests authorized by the contentious debt ceiling agreement reached last August and is expected to come on December 30 – the day the debt is projected to fall within $100 billion of the current $15.194 trillion ceiling. The new request asks the ceiling be raised to $16.39 trillion. According to the terms of the resolution disapproving of an s authorized to veto the new debt ceiling is expected to satisfy U.S. debts until the end Treasury Department official.

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