Senate clear fiscal cliff measure


#1

The Senate has passed legislation to block the impact of across-the-board tax increases and spending cuts that make up the fiscal cliff.
The vote was an overwhelming 89-8 and came well after midnight on New Year’s Day.

A House vote is expected before Wednesday.

The White House-backed legislation would prevent middle-class taxes from rising, and raise rates on incomes over $400,000 for individuals and $450,000 for couples.

It also blocks spending cuts for two months, extends unemployment benefits for the long-term jobless, prevents a 27 percent cut in fees for doctors who treat Medicare patients and prevents a spike in milk prices.

A last-minute addition would also prevent a $900 pay raise for members of Congress from taking effect in March.

Senate clear fiscal cliff measure

The House will pass this with the vague promise of limiting expenses which the democrats will immediaely break. Obama is already calling for more taxes.


#2

It is the expedient and necessary thing to do, but whether it is the right thing to do depends on the course that is set on spending policy. The problem, of course, is the looming (and now breached) deadline. This is terribly irresponsible behavior for a government to display before its own people. Our economic lives have been casualties for over a year now, because the two sides in D.C. want to win wars. As of this morning, not one business in America knows what its cost of doing business will be. Don’t have a job? Well, blame these clowns. (And you can blame them as well, it appears, for giving you another year’s worth of dole money.)

I’ve suggested that we ride off the cliff, let us all share in the pain, and thereby focus all of our minds on the true cost of government. But in the end that is cruel. Pass this band-aid, and see how well we can address the spending side in the next two months, with the cards we’ve been dealt. At least the spending discussion won’t be disrupting real lives in quite the way the tax tilt has. Clinton was right when he advised Obama back in, I think it was, February that the best thing could do was strike the grand bargain, lift the uncertainty going into the election, and let the improving economy coast him to re-election. Obama ignored him, of course, and here we are, staring into an abyss of our own making. Thanks, guys, for doing your job by holding a knife to the citizens’ throats. ,


#3

Only a year? What rock have you been living under? What evidence do you have that they will at all address spending? When was the last time we had a real cut? Not a decrease in the increase, but a real cut.


#4

And the spending goes on. Obama has won, America has lost.


#5

By the way congress has recommended themselves a raise.


#6

Yeah that is the grand kicker of them all. Gotta make up for that increase in their taxes. Bunch of @#&%*&! puke that we chose to lead our Nation. Makes me sick.


#7

STOP RIGHT THERE.

Isn’t this just a tad bit backwards? Ya know - that funny little part about where all bills raising revenue must originate?
Or did the article leave out that the House already did vote, and now the Senate is sending its recomendations back to the House?

—Wait a minute…
While channel flipping yesterday, I stopped at FOX News for a few minutes to hear what was being said about the ‘Fiscal Cliff’. Is THIS what the reporter was referring to when he said the House decided they were basically wasting their time getting together before they were fairly certain there was a bill pleasing enough to the Senate?
IOW, they let the Senate write the bill???

And people wonder why I give up.

Gotta love this part, though:

[FONT=Arial]A last-minute addition would also prevent a $900 pay raise for members of Congress from taking effect in March.

It didn’t say the raises would NEVER take effect, just that they wouldn’t in March.
How white of them. lol.

[/FONT]


#8

As for spending cuts:

“Ugh, you stupid frog, I kissed you and you’re still a frog”, said the beautiful Princess to the frog. (Republicans)
“I’m not so stupid”, replied the frog, “I got my kiss didn’t I?” (democrats)


#9

The one that dropped on the country long about 100 years ago when the Federal Reserve took its place? The one where any intelligent economist would tell you that borrowing money from banks to support our economy would only lead to increasing debt? (Ya know, that funny thing called “interest?”) And, eventually, lead to this very outcome?

The implementation of the Federal Reserve, (how borrowing from banks would keep us in debt in perpetuity), going off the gold standard, & printing money - all contributed to the devalue of the dollar.
Add to that, our loss of the ability to market goods made here, and prior to that the ‘New Deal’ and LBJ’s ‘War on Poverty’, and how all that would lead to one great big SPLAT, jib’s up.
Mix in there along the way that people - including those in Congress - confuse the debt with trade deficite (as I used to), and the utter nonsense that there was some surplus sitting in the W.H. when Clinton left office, (How, when we’d spent more on SS than it took in?)…u
Add to that that when a country’s debt meets its GDP, that’s when it’s in deep doodoo. It’s now OVER that. Has been for some time.

(Do we even bother to mention that there HAS BEEN NO BUDGET in THREE YEARS?)

Okay, I concede! Our economic lives have definately been casualites for over a year now!


#10

To quote those great Americans Bartles and James, Thank You for your support!


#11

Good ol’ Barles and James.

But, good grief, Perkins, I don’t know how someone could be on the internet exchanging info and ideas for so long, and NOT see/learn at least SOME of the facts.

Head meet sand?


#12

Because they can’t see beyond their own self induced fog that protects their personal paradigm of how life should be. Anything that doesn’t fit, doesn’t really exist.