Skip to comments.White House declares victory
Posted on 01/01/2013 9:52:16 AM PST by Cheerio
The White House issued a "fact sheet" statement Tuesday declaring the fiscal cliff agreement a victory, though the House has yet to vote on the measure.
"At this make or break moment for the middle class, the President achieved a bipartisan solution that keeps income taxes low for the middle class and grows the economy," the statement says. "For the first time in 20 years, Congress will have acted on a bipartisan basis to vote for significant new revenue.
(Excerpt) Read more at politico.com ...
Our outcome should be deep cuts to government spending and an almost immediate balanced budget, not one ten years down the road ala Paul Ryan or Pat Toomey.
Even if we elected a GOP majority and a Mitt Romney like president, the appropriate outcome of a quick balanced budget with real cuts to spending would not happen.
The moderate GOP-E would rule the roost.
The big money that supports political campaigns wants “stability” so all these band aid plans get passed with hoopla claiming its a “solution” while the multi-Trillion dollar debt train rolls on the real “Fiscal Cliff” of super disaster to come.
The House should tell Obama it will not consider anything that raises taxes unless it’s part of an overall budget submitted by Obama.
Exactly a SPENDING problem. The media is using smoke and mirrors on the “fiscal cliff” coverage. We are taxed enough, it should be about cutting spending. This is why I think the GOP has WON on the issue. Splitting the spending and tax in two stages will make it OBVIOUS on the need to cut spending.
The insider politicians are running the show backed up by the big money that wants everybody to think the Titanic is unsinkable.
So we get these band aid plans to save us from the “Fiscal Cliff.”
Just putting off the inevitable collapse to some point down the road.
Its time to tell our elected Republican members of Congress to either replace Boehner, Cantor etc. or get their own conservative caucus going. If they are unwilling, we consider them GOP Establishment moderates, not conservatives.
The truth as I see it is that 90 percent of the folks called “Republicans” in Washington are not real conservatives. They are complicit in the deal making business as usual politics whether they vote YES or NO.
>>Freepers must make in excess of 450K a year.
>All of my potential customers do. If they don’t buy, I’m out of business.
The problem is that (1) we have a fiat currency, which means that the value can be, and is, arbitrary (w/o ceiling or floor), and (2) the agreement is simply a number ($450K) and can be reached at any time via inflation, and likely can be changed arbitrarily.
This is why a gold or silver standard are better than a fiat currency — they have an intrinsic value and therefore are not merely imaginary numbers which can be manipulated at-will. (Of course the value of some coin can be fraudulent — but that is a separate issue.)
See my tagline.
So? Let it come to pass - those in DC are so disconnected that one of them will say "let them eat cake."
The original Bush Tax Rate Cuts increased Tax Revenue 35% in four years time from $1.75 Trillion in 2003 to $2.5 Trillion in 2007.
Of course, a majority of the American Public are ignorant of this fact since the Bush Tax Cuts were only for the “rich”, which must have meant that those rich people paid less of the total Taxes collected. The opposite was true, but you wouldn’t know it unless you looked beyond the usual sources.
The concept of a growing economy producing increased Tax Revenue seems to be outside the realm of understanding for the average American.
Will this “AGREEMENT” do the same? Will the current level of Taxation, $2.2 Trillion Dollars, magically grow to $3 Trillion Dollars in four years?
Even if it did, will the Federal Budget (well there is no real Budget) shrink to $3 Trillion Dollars from its current $4 Trillion Dollars so we will have a balanced Budget?
Everyone here knows the answers, but we are now the enemy according to the Democrats and their Media sycophants. The light of truth has been extinguished.
I agree but how do we unwind fiat currency. Fractional reserve banking is what brought us out of poverty. Can you image going back to the gold standard. Not enough gold and silver in the world to match the dollars outstanding. The Gold standard would be the Biggest Spending Cut EVER. Remember the days of no air condition, that is how serious the cuts would be.
What's even sadder is the politically correct hall monitor censored my brutally truthful comment directed at the easily led Pollyanna's out here.
America is in deep cheet due to the easily led who continue to swallow the big gov two party BS.
Aided by “moderate” Republican sell outs. :(
How do they sleep at night?
On giant piles of our money and bags of Chinese IOUs....
We’re one giant step further down the road to Nazi Germany.
He declares “victory”? Then let him own it and all the rest of the mayhem and destruction that will befall this country in the near or not too distant future.
Projected federal spending for 2013 is 3.8 trillion dollars.
That equals 10.41 billion dollars per day.
The "revenue" (read: taxes) that we are expecting to confiscate from the "rich" is 620 billion dollars OVER THE NEXT 10 YEARS.
That's only enough to cover federal spending for less than 2 months.
Even more sad is that the spending cuts proposed (15 billion dollars) wouldn't even fund the federal government for a day and a half.
And Obama is calling this a victory?
Perhaps something like:
The power of Congress to regulate the value of the currency of the united states is hereby reascended. To guard against the indirect tampering of currency via the power to define Weights and Measures, the value of the Dollar shall be that of Gold -- of a purity not less than nine-hundred ninety-eight per thousand parts -- of a weight equal to one fifteenth of one hundredth of an avoirdupois ounce.
Congress shall incur no debt which shall cause the total obligations of the Federal government to exceed one-hundred-ten percent of the value of the gold physically in possession of the Treasury.
The Secretary of the Treasury shall, not less than once a year, make available a true accounting of the physical gold in the possession of the Treasury; this report shall be available to the public.
Any government agent seizing, attempting to seize, or causing seizure of gold or silver shall be charged with theft and, if found guilty, the punishment shall be: (1) twice the value of the theft shall be restored to the bereaved, (2) termination of employment, and (3) forfeiture of all retirement or pension benefits.
Fractional reserve banking is what brought us out of poverty. Can you image going back to the gold standard. Not enough gold and silver in the world to match the dollars outstanding.
The above value-setting can fix the dollar to any amount of gold; we can use this to keep the dollar's current value relatively the same.
PRICE_OF_GOLD * TROY_CONVERSION_FACTOR * FRACTION_OF_OUNCE = NEW_DOLLAR_VALUE [The same as PRICE_OF_GOLD * TROY_CONVERSION_FACTOR / OUNCE_FRACTION_DENOMINATOR] (1675 * 0.911458333) / 1000 = 1.52669270777 (1675 * 0.911458333) / 1500 = 1.01779513852 (1675 * 0.911458333) / 80 = 19.0836588472
Actually, it is not. A bill can pass with less than 50 percent as long as they vote Present, and it is the only way to pin the blame clearly on the Dumbocrats. If they vote No it makes failure likely, which while I like that, will make it easy to be blamed for the coming recession, and Obamacare will guarantee that. If you really want to end socialism, the Dems must own the mess, and if you think the idiots of this country won’t blame the Republicans, then you haven’t seen the Blame Bush success for what it is.