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 ...
Exactly but make sure it is Obama who doesn’t present a serious offer.
I would be glad to donate my EITC stash to a fellow Freeper. As long as you buy a gun and bullets.
“Analysts have said that if left unaddressed, the abrupt fiscal tightening would knock the economy back into recession.”
let it happen
I’m sick of the endless fiscal UNtightening since Obysmal got elected
Let's just go off this cliff. Let FEMA catch Obama before he falls, if it can.
I would be delighted if we could take that plunge. I will almost certainly lose my job and dip into savings. I would probably start selling some of my PM’s into the new bull market. I feel bad for some of my colleagues but others (majority are Obama voters) can go to hell.
even more than that - use Obama’s campaign promises against him. Agree to 10:1 spending cuts to tax increases & give him Buffett. Let the expiration of the payroll tax cuts take hold 1/1 and then force meaningful social security reform. Let the Bush tax cuts expire and then tie to tax reform that broadens the base and gets the 47% to 30% so people understand “free” is not “free”.
Yes, I’m aware it is the “ law of the land”.......BUT John Boehner needs to take a lesson from across the aisle!! STAND FIRM and FIGHT...
“...The right solution: talk about generalities, agree on some publicly and disagree on others. Wait with an “open mind” for the specific offer. A serious offer won’t come until the Senate is pressured by their corporate interests to negotiate with Boehner. Hopefully that will take us to the cliff and beyond because that will get us the best offer....”
That right there, my FR friend, is exactly what needs to happen. Once over the cliff, it’s economically over and it’s that sudden stop at the very bottom that’s going to wake this country up and take them down. They’ve already got all the rope they need to hang themselves with. We just need to step back and let them tie the knot.
Yes, payroll tax expiration is key, that will broaden the tax base all by itself. Don’t let Obama extend it or turn SS into welfare.
Correct. Obama is the Enemy. Bohner is Jane Fonda.
The rest of your dribble about poles and EO’s and the such is dribble.
Obama does an end run about congress (done that) It is BOHNER’S responsibility to impeach his ass.
Ya.. I know. Gets back to Bonehead needing some balls.
our nation should not be lead by followers of polls. It needs LEADERS. We have NONE in any office of power in DC.
Bonehead is coming to the table already compromised in the direction Obama wants. He is willing to raise taxes. Now the question is “how much” Not IF we raise taxes. He should have come to the table with a list of cuts. A HUGE Ron Paul authored list. From that point he could trim what is cut.
Say what you will. Defend him if you think you can. He is to weak to lead a girl scout troop.
Another one? Well. I guess one can never have to many right?
Now that you think about it. Maybe I should take the EITC and buy a gun with it.
Indeed.
And the house can fund it if they want.
Tell me again how powerless the speaker is again?
I’m not going to defend him if he caves. Impeachment would be awesome but he won’t get the house vote if he doesn’t play the game correctly. Do not insist that Boehner spits or storms out or says no publicly or whatever little fantasy you have because that is will not lead to impeachment, just endless media footage against the House. I can guarantee that my rep, Frank “if we don’t pass TARP we will bankrupt the country” Wolf will instantly cave if that footage were threatened to be released. This has to be handled properly not according to some emotional need of yours.
Someone suggested he say “your right, you won Obama, lets do it your way” and rubber stamp everything Obama and co sends down the pipe.
By “working with them” (Giving in) they will blame republicans for everything.
The 'Pubs' need to stonewall and become obstructionist at every turn in 0bama's push for his socialist utopia. I actually considered this: What if the Pubs just ramrod through ALL of the Democrats taxes, actually expediting them without any resistance all the while saying 'THIS IS WHAT THE PEOPLE VOTED FOR', then wait 3 years.. Hmmmm.. Think a Democrat will get elected in 2016? NO WAY!!! LOL! Provided of course that 0bama doesn't strike term limits and declare himself 'president for life'.
This isn’t Boehner’s first rodeo. Is it yours? We have seen Boehner’s “leadership” before and that is why people are upset.
As you saw on tuesday, the GOP has failed miserably. Blown out by one of the worst Presidents in history.
Boehner owns some of that. Don’t let him off the hook just yet. He deserves every bit of heat he is getting right now.
Getting walked over again by the dems is not a strategy or recipe for success in 2014/16. The dims are already all in on 2014. Reid threatening to go nuclear, CBO dumping reports, etc. Now is not the time for the GOP go wobbly and they need to hear that from us.
With friends like Boehner, who needs enemies?
More blahblahblah from the idiot-in-chief. Big deal.
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