Posted on 12/15/2011 8:54:48 PM PST by SeekAndFind
Congressional lawmakers reached an agreement late Thursday to avoid a government shutdown this weekend, Democratic and Republican leaders will push for a final vote on the $1 trillion spending bill on Friday morning — hours before much of the federal government would have been forced to turn out the lights.
The final bill removes several provisions of concern to President Barack Obama — including a measure to reinstate travel restrictions on Cuba, POLITICO reported. It also would ensure the Commodities Futures Trading Commission is fully funded next year.
But Democrats had to drop their opposition to a ban prohibiting the District of Columbia from funding abortions.
The bill does not include an extension of the payroll tax cut or of unemployment insurance benefits — both of which must be dealt with before the end of the year.
(Excerpt) Read more at businessinsider.com ...
Technically, “payroll tax” is understood to include them both, but they are separate, IIRC, given the ceiling on each is different. I could be wrong though.
Not to break out the champagne but it looks like Obama and Dems caved in. They were threatening a shutdown to get the payroll/FICA/SS tax cut extensions and unemployment comp and appear to have given them both up. If this post is correct they must come back to the table to get those two.
Of course those two ARE popular voter give-aways (that cost a lot) which is why Obama is pushing them.
Same reasoning is why we did exactly as you posted also.
nah, just lets the servants have their 'holiday' break...
when they come back, right up to iowa primary, they can demagouge the unemployment payroll tax cuts and leverage that against keystone for a month or two of kabuki, keepin both in limbo until the next 'compromise'...
Keystone? No mention.....
See tagline.
Problem with raising taxes to cover budget deficit is that revenue is, in practice, no more than 20% of GDP. You just can’t squeeze more than that out of the economy. We’re at about 18% of GDP now, and would need about 40% to make it work. In other words, we can’t tax our way out of this hole.
“Unless folks are willing to forgo their SS benefits, they should be paying into the fund.”
Where can I opt out?
That is certainly Democrats plan: to keep the tax cuts for the ‘middle class’ (ie FICA/SS)paid for by ‘asking millionaires and billionaires to pay a little more’ debate raging until the election.
Democrats have a pretty good political argument there to appeal to the clueless voters even though there are serious flaws in it as a proposal. Rarely pointed out by Republicans is that Obama is lying when he claims HIS FICA tax cut proposal is 'fully paid for'. In fact I saw his press secretary on TV yesterday saying that paying for it was just something they threw out there to counter the deficit Republicans.(ie make them look like hypocrites.)
they cant/wont because they know theyll end up 'compromising' and buying more IOUs so that they arent depicted as the badguys...all the while spending their mic time defending against being the bad guys...
its too divisive and nitpicky for the gop to be bothered with plainly stating that the FICA is part of the pyramid scheme...
i started linking the whole deal here as the 'unemployment check tax cuts' because i wonder how the math works for every dollar 'spent' vs what would be recovered in fica [supposdly] when the tax bill comes due...
circular gubmint dollars in the politics of two heads of the same coin that have become our false 'representation'...
but whatever ya do, DO NOT call for simply chopping off 90% of the beast, as too many people want their piece of that pie...
wow, im ramblin this AM...
Why what? Why does the bill not include an extension, or why must it be dealt with before the end of the year?
Why what? Why does the bill not include an extension, or why must it be dealt with before the end of the year?
Republicans cave once again. They had their shot at cutting spending, but instead, they allow Obama to continue his pace of running up $130 billion per month in deficit spending.
Eight Hundred Days Without A Budget-A new milestone in Democrat Party governance is reached.
(from this past July)
While the House has passed a serious, credible budget that tackles this debt crisis head-on, 800 days — and $7.3 trillion dollars — have come and gone since the Democrat-led Senate has adopted a budget. Not only is a budget a concrete fiscal plan, but it expresses a philosophy of governing. Democrats’ refusal to pass a budget — and refusal to put their big-government economic theories on paper — is of extraordinary significance. Making matters worse, the only budget submitted by the president is a fundamentally unserious plan that doubles our debt and speeds us to economic decline.
The Democrats have not even proposed a budget. President Obama gave a speech on the topic a few months ago, but it was a demagogic campaign speech intended primarily to attack Paul Ryan – author of the Republican “Path to Prosperity” package of very concrete proposals – who was sitting in the front row.
Back in May, Senate Majority Leader Harry Reid (D-NV) stated, “There’s no need to have a Democratic budget in my opinion. It would be foolish for us to do a budget at this stage.” Does he still consider it “foolish”...?
http://www.humanevents.com/article.php?id=44718
We’re better off when they shut down.
Damn!
If you are applying for early benefits, and continue to work fulltime, you will be subject to an earnings test and an offset of your benefit - that goes away when you reach full retirement age.
I believe we would already be over the latest limit if Timothy were not playing games already. You don’t hear about it of course. But I assume that he must be.
If I ran my household like this, I would have lost everything I own and have long ago been in jail for fraud, theft, false advertising, bribery, graft, conspiracy and a thousand other charges.
Yet these pukes continue to walk free to continue running their scams which are burning up all of our futures and those of our children and grand children!
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