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Obama: Here's Your Change, Sir
By Robert and Donna Trussell - Politics DailyFollow the Trussell cartoons on Twitter at ChaosTheoryPD ...
Steny Hoyer Questions Extending Bush Tax Cuts
By Tom Diemer - Politics DailyMajority Leader Steny Hoyer said Tuesday the House will not attempt to pass a budget dictating spending guidelines for the 2011 fiscal year -- and may balk at permanently extending certain tax cuts. The absence of a budget is not as startling as it sounds at first blush, but the tax talk raises a tough issue for Democrats in an election year as Republicans battle to reclaim control of Congress. Hoyer, top lieutenant to House Speaker Nancy Pelosi, said tax increases will eventually be needed to deal with the nation's growing national debt, the Associated Press reported. In the short-term, he ...
Congress Considers Quarter-Trillion in New Spending This Week
By Patricia Murphy - Politics DailyWith the federal deficit already projected to hit $1.37 trillion for 2010, Congress will consider two proposals this week that would take that number as much as a quarter of a trillion dollars higher. The bills -- a package of tax cuts and safety-net provisions in the House, and an emergency spending bill to pay for fighting the wars in Iraq and Afghanistan -- are already facing bipartisan opposition, both because of the programs being funded and the sheer dollar amounts that lawmakers are being asked to approve in an election year. (And it's an election year that has already seen several ...
Obama Offers Olive Branch to Big Business
By Joseph Schuman - AOL News(Feb. 24) -- President Barack Obama is meeting the enemy to make it his. A day before playing host to Republicans in a bid to revive health care legislation, the president reached out to the Business Roundtable, a group made up of chief executives from the largest U.S. companies and one that has worked hard to thwart his efforts to overhaul health care, enact stricter financial regulation and reverse climate change. "Contrary to the claims of some of my critics, I am an ardent believer in the free market," Obama said Wednesday, praising the job creation and technology development of big ...
GOP's First 100 Days: One Setback After Another
By Jill Lawrence - Politics DailyRepublicans, bless their hearts, have provided more than their share of spectacle in the first hundred days of the Obama administration. ...
Obama and the Deficit Paradox
By David Knowles - Politics DailyWhen he took office on Janurary 20th, President Obama was given a few unwanted gifts from his predecessor. Among them was a record federal deficit of $1.3 trillion dollars. Yes, lowering taxes and expanding government, while simultaneously waging two wars certainly has a way of running up the bill. Not that Congressional Republicans seemed to mind very much while George W. Bush controlled the levers of power. Now that Obama has taken the reigns, however, fiscal conservatism has made a sudden, roaring comeback. But here's the problem for the all-or-nothing critics shouting at the president: ...
Obama's Tax Threshold Coming Down
By Mark Impomeni - Politics DailyThe Democratic vice-presidential nominee, Sen. Joe Biden may have committed another accidental truth telling this week when he told a local Scranton, Pennsylvania, television interviewer that under Sen. Barack Obama's tax proposal, no one making over $150,000 would get a tax cut. Biden's remark is the second time in recent days that the Obama campaign has lowered it's threshold for tax cuts under the proposal. Earlier this week, the campaign released an ad that said nobody making over $200,000 would get a tax cut. Sen. Obama has been under withering criticism from Sen. John McCain for his tax ...
Obama's 'Tax Cuts' More Like Redistribution
By Mark Impomeni - Politics DailySen. Barack Obama claims that as president he would cut taxes for 95% of all Americans. He has fought back against charges from Republican Sen. John McCain that he would increase taxes on working Americans by promising that no one making under $250,000 per year would see one penny in increased taxes under the Obama tax plan. But what Sen. Obama doesn't mention, and which Sen. McCain thus far hasn't mentioned, is that Obama's plan to cut taxes for 95% of Americans is based on a false premise, that all Americans pay federal income taxes. Not all Americans do. In fact nearly 40% of all American ...
The Bush Legacy
By David Knowles - Politics Daily"Our entire economy is in danger." --President George W. Bush, addressing the nation last night.The Iraq war price tag? Try $3 Trillion. Even before the bailout, Bush announced he was leaving the country with a record national debt: $482 billion. Now, it will be much more. When he left office, Bill Clinton left a $127 billion budget surplus. Bush tax cuts, which were the first in the history of the country to come at a time of war, have had the effect of widening the income gap in America. Bush is asking Congress to raise the national debt ceiling for the 5th time during his presidency, to ...
House GOP Hopes to Gain by Losing Tax Vote
By Mark Impomeni - Politics DailyRepublicans in the House attempted to stop what they called, "the largest tax increase in American history," by forcing a vote on the 2001 and 2003 Bush tax cuts, which Democrats had voted to allow to expire in 2011 when they passed a budget resolution earlier this year. Republicans utilized a parliamentary maneuver to bring the Tax Increase Prevention Act of 2007 to the floor. The act, authored by Rep. Tim Walberg (R-MI), would have made the Bush tax cuts permanent. Five Democrats joined Republicans in voting for the measure. No Republicans voted against.Although the bill was defeated ...
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