Posted on 11/08/2012 5:04:05 PM PST by Sub-Driver
Obama to make statement on economy Friday By Mark Felsenthal | Reuters – 48 mins ago
WASHINGTON (Reuters) - Newly re-elected President Barack Obama will make a statement on the economy on Friday, the White House said, setting the stage for a showdown with congressional Republicans over contentious tax and spending issues.
The president is likely to discuss looming tax increases and government spending cuts - the so-called fiscal cliff - that would go into effect early next year unless Congress acts to prevent them. He is due to make the statement from the East Room of the White House at 1:05 p.m. (1805 GMT).
Obama, who defeated Republican challenger Mitt Romney on Tuesday in a race in which the two candidates offered different visions for jump-starting the sluggish economy, is not expected to put forward a new or specific plan.
Instead, he is more likely to urge Congress to tackle the fiscal cliff and try to cut the massive U.S. budget deficit. Analysts have said that if left unaddressed, the abrupt fiscal tightening would knock the economy back into recession.
Congressional Republicans have already begun to stake out their position on ways to spare the already modest economic recovery from a fiscal shock. House of Representatives Speaker John Boehner is scheduled to hold a news conference earlier on Friday.
The president's advisers told reporters earlier on Thursday that dealing with the fiscal cliff would be an immediate priority. The administration sees Obama's re-election an endorsement of his position that affluent Americans should see their taxes rise, they said.
(Excerpt) Read more at news.yahoo.com ...
big effing deal
What money is he going to take from Earners to hand out to blacks, Hispanics, Green Cronies, and Union thugs this time?
Is he making this statement on The View, Letterman, or Vegas?
Did Benghazi never happen? By the way, will our flag be strangely absent just like it was in the beginning of his first term?
“I fart in your general direction”
No cuts...no real solutions to the deficit. Just more spending and wealth distribution. It's worked so well In California (rolling eyes). After all...we're just one more tax increase away from a good economy...puke
Boehner cannot wait to accommodate.
Kudlow said the Boener would take questions but the president would not.
He’s going to shove the ‘redistribution mandate’ down our throats.
I can just see it now:
My Fellow Americans, a couple years ago I made a deal with The House and Senate Republicans to Spend Wildly like a Drunken Muslim and Leave your children holding the nill, in return for spending cuts and tax increase to balance the budget, and these peopl now are telling me I can’t break the Promise I made, well Folks I won and they Lost and whatever I said before, forget about it. These stupid republicans were dumb enough to make a deal with me in the first place, so me breaking the deal is just my way of rubbing their nose in it. Remember folks When a Democrat give his word, that’s all it is, is a word.
What...not a “major speech”?
DId they finally give up on that?
Obama is the enemy, not Boehner. I hope we remember that.
Every day there is a new outrage from this lying communist bastard. Today it is the Iranian air force firing on an American drone on Nov 1 - news withheld prior to the election. Tomorrow the criminal treasonous thug is going to announce our taxes are going to skyrocket. Saturday will be another outrage. I am so sick of this. It is really disheartening.
If Boner had any ‘nads here’s what the strategy should be:
Let the sequestration take place and the tax cuts expire for EVERYONE. Adjourn the House for a month to let all of tha sink in. Market crashes, the moochers checks stop coming, defense contrators lay off 100’s of thousands and all of that. Then in the spirit of bipartenship agree to a special tax rate for all of those earning over 1 million of 70%, no loopholes. My bet is that it sure would smoke out the hypocritcal leftists in Hollywood, Wall Street and Congress. Sure would be fun to watch.
Again?
“Republicans will take away your phones”
First no way he’s on time. Forget 1:05 PM. Statement only it appears, The One is above questioning. Expect full fu mode including middle finger.
Congress doesn't need to do a thing to make that happen.
Thanks for the heads-up. I’ll be sure to miss it.
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