President Obama's Weekly Address - April 6, 2013

The President’s Plan to Create Jobs and Cut the Deficit

President Obama's Weekly Address - January 5, 2013

Working Together in the New Year to Grow Our Economy and Shrink Our Deficits

President Obama's Plan for Reducing the Deficit

Here's yesterday's speech in case you missed it like I did.

Quote of the Day

"I reject the idea that asking a hedge fund manager to pay the same tax rate as a plumber or a teacher is class warfare. I think it’s just the right the thing to do...

This is not class warfare, it's math...

I will not support - I WILL NOT SUPPORT any plan that puts all the burden for closing our deficit on ordinary Americans. And I will veto any bill that changes benefits for those who rely on Medicare but not does raise serious revenues by asking the wealthiest Americans or biggest corporations to pay their fair share."

~President Obama in his speech on his plan to reduce the deficit by raising $1.5 trillion in revenue from top earners.

Will Everyone Please Calm Down?

I was out of earshot of the televisions and the cable "news" outlets today (thankfully) and therefore out of earshot when the hair on fire freakout happened with a story based on those famous "anonymous sources" leaked that President Obama was ready to sign off on a $3 Trillion debt reduction deal with no increases in revenue. IEEEEE!!! Run into the streets with torches and pitchforks! Obama is selling out the poor! We knew it! He's not going to raise taxes! IEEEE!...

I found out when one of my faithful readers sent me an email with a link taking me to the Washington Post article and it's ridiculous first paragraph (emphasis mine):

President Obama and top House Republicans are deep in negotiations over a far-reaching plan to save $3 trillion over the next decade through sharp cuts in agency spending and politically painful changes to popular health and retirement programs, but without any immediate increase in taxes, Democratic congressional leaders reported Thursday.

Step away from the keyboard and take a breath. And think logically.

Why on earth would President Obama, while in a position of negotiating power as can be proven by poll after poll, just decide to give up on tax revenue increases when he and the administration have stated unequivocally that any part of a "grand bargain" would have to include tax revenues?

After reading the article, it sounds like a fake story designed to sabotage talks and put President Obama on the defensive since he's been getting favorable poll numbers on this issue. No one is being quoted, no one is taking ownership of these rumors, yet everyone is asking about it. Funny that.

According to my reader, he heard Oregon Congressman Pete DeFazio on the Thom Hartmann Show today tell Hartmann that Jared Bernstein had said the White House is catering to the independent voters who are worried mostly about the deficit, so there will be some cuts to "The Big Three," namely Medicaid, Medicare and Social Security "because Obama doesn't care where the money comes from." Of course, DeFazio wasn't at that meeting, and frankly, though I like DeFazio, that story sounds like a bowl full of shit to me.

News to DeFazio and anyone else not paying attention: the White House already has the independent vote. Independents don't trust the GOP led House in Congress.

Since the beginning of these talks, there has never been a time when the President or any of the White House spokesmen have ever denied that a grand bargain would include looking at restructuring Medicare and Social Security to strengthen them for future generations without making cuts to benefits. How this is interpreted at cuts is beyond me. Does cutting money to Medicare (like the ACA did by $500 billion in terms of fraud and abuse) equal automatic cuts in benefits?

From teabaggers to firebaggers, how does anyone know that this is the super secret "Obama wants to be Reagan" position without details? And how do you assume that position when everything you've heard from the White House is contrary to that line of thinking? When the fact that anything that would resemble trying to pass $3 Trillion in cuts with no revenue increases would never, ever pass in Congress?

But hey, this story did the job that it was supposed to. It filled another news cycle on a stalled story and caused the collective freakout of the MSM, the professional left, the Democratic politicians in Congress and the Twitterverse. It took the beltway insiders by storm. It caused President Obama to call a meeting of Democratic leaders of Congress - all based on a rumor.

President Obama's Weekly Address - July 2, 2011

Cutting the Deficit and Creating Jobs

President Obama's Weekly Address - April 16, 2011

America’s Fiscal Future

Does Anyone Know How to Write, “God Bless You” in Chinese?

A friend of mine wrote a letter to the editor of New Mexico's Carlsbad Current-Argus about the hijacking of the Republican Party by the extreme right and asked if I would include it on the blog. I don't know if or when it may be published, so here it is.

Does Anyone Know How to Write, “God Bless You” in Chinese?

The President of the US Chamber of Commerce, Tom Donohue, recently extolled the virtues of outsourcing American jobs, while accepting donations from foreign corporations, including ones from state controlled companies in Russia, India, and Abu Dhabi. The Chamber blames Democrats for job loss while promoting outsourcing those same jobs. It should be clear that these foreign corporations donate to the Chamber because they want more American jobs. The US Chamber of Commerce recently pledged $75 million to attack Democratic candidates across the country.

Alas, the Republican Party is no longer the GOP. Barry Goldwater and William F. Buckley must be rolling over in their graves. The party has been hijacked by their ignorant conservative wing and moderate Republicans have been largely silent. Even the Arizona Maverick seems to now be one of them. The Tea Baggers seem to be calling the shots. This wing constantly carries on a smear campaign against the Democrats in general and the President in particular that is ill mannered, full of lies and downright unpatriotic. This wing slanders our elected President, promotes armed rebellion and invents nonissues to energize their base. It is now so crazy in the Republican Party that Karl Rove, a frequent Republican spokesperson on FOX News and often called “Bush’s Brain,” has endorsed a candidate that believes scientists have developed human brains in mice.

It is amazing that anyone would trust this hijacked party with resolving this recession. Republicans/Tea Baggers don’t know anymore about the economy than they do about manners or patriotism. Republicans tell us that we must eliminate the deficit. They then tell us that we must pass all of the Bush Tax Cuts, which they know and admit, would add trillions to the deficit. Republicans tell us that regulations are killing recovery when lack of regulation and oversight caused this recession. They rail against stimulus spending then beg for that money to be spent in their district. I am reminded of a Will Rogers quote:” If stupidity got us into this mess, then why can’t it get us out?”

So Americans, continue to buy those Toyotas and vote Republican and all of our jobs will soon be gone. We can all stand on the corner and beg. Does anyone know how to write, “God Bless You” in Chinese?

Forrest in NM

How Much?!

From The Hill: The comprehensive health reform legislation will cost $940 billion over the next decade, the Congressional Budget Office (CBO) said Thursday.

The nonpartisan budget office told lawmakers that the health bill set for a vote this weekend would cut the deficit by $130 billion over the next decade, and $1.2 trillion in the second decade of the plan's implementation.

...Wow. This is the part where the GOP calls the CBO a bunch of partisan hacks... that is until they get a set of numbers from the same nonpartisan group more in line with what they think the numbers should show, namely blow the deficit out of the water to the point that we'll be living in grass huts within five years. (AAARRGH! FEAR! RUN AWAY! RUN AWAY!)  But that's never going to happen.  Republican "fiscal conservative" heads explode in 5... 4... 3...

Cartoon of the Day