Here is the take of President Obama on the debt ceiling deal, “ ..I want to announce that the leaders of both parties, in both chambers, have reached an agreement that will reduce the deficit and avoid default -- a default that would have had a devastating effect on our economy. The first part of this agreement will cut about $1 trillion in spending over the next 10 years -- cuts that both parties had agreed to early on in this process. …Now, I've said from the beginning that the ultimate solution to our deficit problem must be balanced. Despite what some Republicans have argued, I believe that we have to ask the wealthiest Americans and biggest corporations to pay their fair share by giving up tax breaks and special deductions. Despite what some in my own party have argued, I believe that we need to make some modest adjustments to programs like Medicare to ensure that they’re still around for future generations. That's why the second part of this agreement is so important. It establishes a bipartisan committee of Congress to report back by November with a proposal to further reduce the deficit, which will then be put before the entire Congress for an up or down vote. In this stage, everything will be on the table. To hold us all accountable for making these reforms, tough cuts that both parties would find objectionable would automatically go into effect if we don’t act. And over the next few months, I’ll continue to make a detailed case to these lawmakers about why I believe a balanced approach is necessary to finish the job. Now, is this the deal I would have preferred? No. I believe that we could have made the tough choices required -- on entitlement reform and tax reform -- right now, rather than through a special congressional committee process. But this compromise does make a serious down payment on the deficit reduction we need, and gives each party a strong incentive to get a balanced plan done before the end of the year. …We’re not done yet. I want to urge members of both parties to do the right thing and support this deal with your votes over the next few days. It will allow us to avoid default. It will allow us to pay our bills. It will allow us to start reducing our deficit in a responsible way. And it will allow us to turn to the very important business of doing everything we can to create jobs, boost wages, and grow this economy faster than it's currently growing. ”. Thus on one level this is a victory for the Oval, its get the debt ceiling off the agenda for 2012 but politically it’s a major defeat, the Republicans have got what they wanted, no tax hikes, major cuts. The Oval needs a RFK or a Nancy Reagan, Obama is still going on about tax hikes, its not going to happen, the Republicans would rather take cuts, this will drive the liberal base of the Democratic Party up the wall, its going to be a tough 2012 for President Obama.
Monday, August 01, 2011
Debt Ceiling DEAL
Here is the take of President Obama on the debt ceiling deal, “ ..I want to announce that the leaders of both parties, in both chambers, have reached an agreement that will reduce the deficit and avoid default -- a default that would have had a devastating effect on our economy. The first part of this agreement will cut about $1 trillion in spending over the next 10 years -- cuts that both parties had agreed to early on in this process. …Now, I've said from the beginning that the ultimate solution to our deficit problem must be balanced. Despite what some Republicans have argued, I believe that we have to ask the wealthiest Americans and biggest corporations to pay their fair share by giving up tax breaks and special deductions. Despite what some in my own party have argued, I believe that we need to make some modest adjustments to programs like Medicare to ensure that they’re still around for future generations. That's why the second part of this agreement is so important. It establishes a bipartisan committee of Congress to report back by November with a proposal to further reduce the deficit, which will then be put before the entire Congress for an up or down vote. In this stage, everything will be on the table. To hold us all accountable for making these reforms, tough cuts that both parties would find objectionable would automatically go into effect if we don’t act. And over the next few months, I’ll continue to make a detailed case to these lawmakers about why I believe a balanced approach is necessary to finish the job. Now, is this the deal I would have preferred? No. I believe that we could have made the tough choices required -- on entitlement reform and tax reform -- right now, rather than through a special congressional committee process. But this compromise does make a serious down payment on the deficit reduction we need, and gives each party a strong incentive to get a balanced plan done before the end of the year. …We’re not done yet. I want to urge members of both parties to do the right thing and support this deal with your votes over the next few days. It will allow us to avoid default. It will allow us to pay our bills. It will allow us to start reducing our deficit in a responsible way. And it will allow us to turn to the very important business of doing everything we can to create jobs, boost wages, and grow this economy faster than it's currently growing. ”. Thus on one level this is a victory for the Oval, its get the debt ceiling off the agenda for 2012 but politically it’s a major defeat, the Republicans have got what they wanted, no tax hikes, major cuts. The Oval needs a RFK or a Nancy Reagan, Obama is still going on about tax hikes, its not going to happen, the Republicans would rather take cuts, this will drive the liberal base of the Democratic Party up the wall, its going to be a tough 2012 for President Obama.
Sunday, July 31, 2011
Reid Plan = Fails in US Senate
US Senate: Reports on the failure of the US Senate to close off debate on the debt ceiling plan of Senate Majority Leader Harry Reid, the vote was 50 to 49 to close debate, but sixty votes was needed end Republican opposition. The real plan is being developed by the White House and Congressional leaders, time is ticking, it should be an early vote UK time, the new plan needs the approval of both the Senate and the House.
Obama 56% Disapproval = Rasmussen Reports
Rasmussen Reports: Has it latest daily tracking poll, also not good for POTUS, in its poll of likely voters Obama has a 44% Approval rating, while 56% of likely voters disapprove of the job performance of President Obama. The Chicago Re-Election will get down and dirty next year folks, POTUS can not run on his record, it has been a disaster, the Republican nominee better have a good campaign team around him or her, the Democrats are going to make the nominee the devil in human form, they will be racist, they will make sure that the old people and families don’t have medical cover, they are only in for the rich, you get the idea folks, its old but it works, and the Democrats are in BIG TROUBLE, let the fun start in 2012 folks.
Obama 52% Disapproval = Gallup
Gallup: Reports on its latest daily tracking poll on the job performance of President Obama, today POTUS has a 40% Approval rating, while 52% of average US voters disapprove of the Obama record. This will send nerves sky high in the White House folks, the lower the Obama approval, the lower his power over Congress, the debt ceiling crisis seems to have hit POTUS badly, the Tea Party movement has gotten its demand for no tax hikes and the real power is in the Congress. But if there is a deal then Obama can bounce back, cuts and the issue will be off the table for next year, a year and a half is a long time in politics folks. Lets recall President Reagan was down to 35% in one poll and came back and crushed Walter Mondale.
Payback to Senator Reid = Debt Ceiling
HofR: Reports on the rejection by the House of the Reid Plan by 243 to 173. Thus after the games of the House and the Senate, back to the House, we have the real deal business going on at the White House, it seems that there will be a 2.4 trillion raise in the US debt ceiling, with around equal or higher cuts, the demand of the Tea Party Movement. The devil is in the details folks, lets see the small print, is this a real deal or PR by the Beltway leaders.
Deal by Tuesday?
Telegraph: Reports that the Oval and Congressional leaders are talking about raising the debt ceiling by 2.4 trillion with no tax hikes. This is phoney folks, the Credit Agencies might downgrade the credit rating of the US anyway, the theme from Agencies is that anything under 4 trillion in cuts does not pass the smell test, thus a 2.4 trillion raise in the debt ceiling and equal cuts is nothing, the US has a 14 trillion debt folks, there have to major trillion cuts in the US Budget, or the US will go the way of Rome and the British Empire, in the end broke.
Debt Ceiling Crisis = Tuesday ?
BBC News: Reports that both Democratic and Republican Congressional Leaders have expressed caution hope that the debt ceiling will be raised by Tuesday. The Tea Party movement should keep a close eye on Republican leaders, they should not be allowed to sell out the Republican Agenda as way of doing business as usual in Washington D.C, the US will not default on Tuesday folks, these are scare stories from the Democrats and liberal left wing media, the Republicans should hold their nerve and their ground on the debt ceiling.
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