President Obama discusses legislation he signed on Friday that does two important things: It keeps thousands of construction workers on the job rebuilding our crumbling infrastructure, and it stops interest rates on federal loans from doubling this year for more than seven million students.
A House Republican said Saturday his party would work to repeal President Obama's health care law if the Supreme Court upholds it next week.
"Not only is President Obama's health care law not working, it makes things worse by driving up health care costs, making it harder for small businesses to hire workers," said Rep. Bill Cassidy, R-La., during the Republican weekly radio address.
The Supreme Court is expected to rule next week on the constitutionality of the law that Obama signed in 2010.
Regardless of the ruling, health care figures to play a major role in the fall election between Obama and Republican Mitt Romney, as well as races for control of the U.S. House and Senate.
Cassidy, a doctor, said that if the GOP wins full control of Congress, it should repeal any existing parts of Obama's law, and replace it with a more gradual approach to health care policy.
"It's now clear, if it wasn't already, that containing costs step-by-step -- not expanding government in one fell swoop -- is the right approach to health care reform," Cassidy said.
The Republican radio address:
"Hello, I'm Bill Cassidy, a doctor and United States Congressman from the State of Louisiana.
As you know, the U.S. Supreme Court will soon rule on the constitutionality of the president's health care law, a law which continues to hurt job creation and damage our economy. Not only is President Obama's health care law not working -- it makes things worse by driving up health care costs, making it harder for small businesses to hire workers. The only way to change this is by repealing ObamaCare entirely.
So, unless the Court throws out the entire law, we should repeal what is left and implement common-sense, step-by-step reforms that protect Americans' access to the care they need, from the doctor they choose, at the lowest cost.
In this tough economy, the top health care concern of families and small businesses is out-of-control costs. Health care coverage has become too expensive for too many people. Two years ago, Washington Democrats pushed through ObamaCare and its 2,700 pages with promises that it would fix all this. It did not have popular support. It did not have bipartisan support. But its authors insisted that ObamaCare would make health care more affordable, and of course Americans hoped that would be true.
Instead, ObamaCare has turned out to be the wrong medicine for out-of-control health care costs. The law, as an example, is going to cost nearly twice as much as we were told, people are already paying more for their health care than they were before, and because of health insurance expenses, employers are canceling plans to expand their businesses, which is to say they will not be hiring new workers. With costs going up and too much uncertainty, this two trillion dollar takeover will result in more people being pushed out of the plan they enjoy today.
The Obama administration has tried all kinds of run-of-the-mill Washington tactics to distract from ObamaCare's failures -- issuing hundreds of waivers to selected businesses and unions and spending millions of taxpayer dollars on public relations campaigns.
None of this has worked, and now the vast majority of Americans want the Supreme Court to overturn all or part of ObamaCare. If that happens, it's important to know that Republicans will not repeat Democrats' mistakes. We will not rush through a massive bill the American people don't support or won't even have time to read to figure out whether they do support it. And we won't take our focus off jobs and the economy.
I have practiced medicine for nearly three decades primarily treating the uninsured ... I still see patients almost weekly. Good health care starts in a doctor's office, not a Washington backroom. It's now clear, if it wasn't already, that containing costs step-by-step -- not expanding government in one fell swoop -- is the right approach to health care reform. Families should be able to make their own health care choices, visit the doctor of their choosing, and receive the health care they and their physician feel is best. That means implementing patient-centered solutions that lower costs and restore Americans' freedoms over their health care decisions.
Again, Republicans continue, as promised, to focus on helping small businesses create jobs. The most recent jobs report pegged unemployment at 8.2 percent -- much higher than what White House officials said it would be by now with the 'stimulus' in effect. ObamaCare, with its fees, tax hikes, and costly mandates, makes this worse. We should seize this opportunity to protect jobs and work together on a step-by-step reform that does what ObamaCare did not do, which is to lower the cost of health care for families and small businesses. This is what Republicans hope to achieve, and we hope to have your support.
Thank you for listening, and God bless the United States of America."
President Obama discusses the urgent need for Congress to act now on two common sense measures to help middle class families: preventing interest rates on federal student loans from going up and putting hundreds of thousands of construction workers back on the job.
Commemorating the 10th anniversary of 9/11, President Barack Obama proclaimed this weekend, Friday though Sunday, as National Days of Prayer and Remembrance.
“Today, our nation still faces great challenges, but this last decade has proven once more that, as a people, we emerge from our trials stronger than before,” Obama said in a statement Friday.
The president called on Americans to honor the victims of the terrorist attacks through activities such as prayer, memorial services, the ringing of bells, and evening candlelight remembrance vigils.
Obama also urged citizens to remember those among “the 9/11 generation” of service members who have “come of age bearing the burden of war,” with some paying the ultimate sacrifice.
“During these days of prayer and remembrance, a grateful nation gives thanks to all those who have given of themselves to make us safer,” Obama said.
Obama will attend memorial services at all three attack sites – New York, Washington and Pennsylvania – this weekend.
The proclamation comes in the wake of faith-based groups expressing opposition toward New York Mayor Michael Bloomberg, who stirred controversy when deciding to exclude religious leaders from the World Trade Center memorial service on Sunday.
Prominent politicians have also come out against the decision. On Tuesday, former New York City Mayor Rudy Giuliani said religion played a key role in the days following the attacks by offering people some “strength to move on.”
“Just get them up. Say a little prayer,” Giuliani said at the National Press Club in Washington Tuesday. “The microphone will not melt if you say a prayer.”
In his statement Friday, Obama did not address the clergy issue, but focused on the memory of those who lost their lives 10 years ago.
“We continue to stand with their families and loved ones, while striving to ensure the legacy of those we lost is a safer, stronger, and more resilient nation,” Obama said.
1.) Congresswoman Michele Bachmann (4823, 28.55%)
2.) Congressman Ron Paul (4671, 27.65%)
3.) Governor Tim Pawlenty (2293, 13.57%)
4.) Senator Rick Santorum (1657, 9.81%)
5.) Herman Cain(1456, 8.62%)
6.) Governor Rick Perry (718, 3.62%) write-in
7.) Governor Mitt Romney (567, 3.36%)
8.) Speaker Newt Gingrich (385, 2.28%)
9.) Governor Jon Huntsman (69, 0.41%)
10.) Congressman Thad McCotter (35, 0.21%)
Scattering (162, 0.96 %) Includes all those receiving votes at less than one-percent that were not on the ballot.
Minnesota Rep. Michele Bachmann on Saturday won the Ames Straw Poll, besting eight other Republican candidates in a nonbinding but politically significant vote in the first caucus state of Iowa.
The vote was billed as one that could make or break some campaigns. Six Republican presidential hopefuls on Saturday personally appealed for Iowans' vote, not including former Alaska Gov. Sarah Palin. She drew throngs at the Iowa State Fair on Friday but has yet to officially decide if she's running.
Bachmann secured 4,823 votes, narrowly besting Texas Rep. Ron Paul who had 4,671 votes. Former Minnesota Gov. Tim Pawlenty was chosen on 2,293 ballots, placing him third.
Pawlenty, who has trailed in recent polls despite heavy investment in Iowa, issued a statement saying, "We made progress in moving from the back of the pack into a competitive position. ... We are just beginning, and I'm looking forward to a great campaign."
The next closest contenders, in order, are: former Pennsylvania Sen. Rick Santorum with 1,657 votes, businessman Herman Cain with 1,456 votes, and former Massachusetts Gov. Mitt Romney with 567 votes. That was slightly less than the 718 who wrote in the name of Texas Gov. Rick Perry -- who declared his candidacy Saturday and wasn't even on the ballot.
Part country fair and entirely political, the Ames Straw Poll has helped take the pulse of a campaign's strength since 1979. It's also the first opportunity for the tens of thousands of voters who weighed in Saturday on which GOP president candidate they support.
The results were announced around 5:30 p.m. CT, capping days of intense politicking and several hours of speeches from candidates and other prominent Republicans.
Bachmann had reason to celebrate, but had a little competition in the headlines department: Perry announced his presidential bid at a meeting of conservatives in South Carolina. The timing of his announcement prompted some grumbling among Iowa Republicans.
Nine announced candidates were on the Iowa ballot, although two of them -- Romney and former Utah Gov. Jon Huntsman -- skipped the contest. Huntsman is avoiding the Iowa caucuses completely, while Romney's advisers are carefully watching the state and could pounce in the coming months if they see an opening.
Former House Speaker Newt Gingrich was on the ballot, too, but his cash-strapped campaign did not have a formal presence at the straw poll and he only got 385 votes. Michigan Rep. Thaddeus McCotter shelled out thousands of dollars to reserve campaign space outside the straw poll venue, but -- while he played up the perils of "big government" and of ceding "the 21st century (to) Communist China" -- he was not, as expected, a major factor, securing a mere 35 votes.
Bachmann had been positioned at or near the top of most Hawkeye State polls thanks to the passions she has stirred among tea party activists and social conservatives who make up a large part of the caucus electorate. But there are questions about how strong her organization in the state is and whether she can compete with Pawlenty's respectable ground game.
Like Huckabee in 2007, though, Bachmann has a natural appeal to evangelicals and home-school activists who tend to show up at political events like straw polls.
In her speech in Ames on Saturday, Bachmann exuded optimism -- proudly and loudly insisting, "We are the team that can't be beat."
Besides playing up her roots in Iowa, where she was raised, the three-term U.S. representative cast herself as a fiscal conservative and "national security conservative." Still, some of the most impassioned parts of her speech dealt with her stances on social issues.
"We are social conservatives, and we will never be ashamed of being social conservatives," Bachmann said. "We understand that religious liberty is the essence of the foothold of this nation."
Another candidate who came in with high expectations was Paul, given his strong performances in straw polls at various conservative gatherings over the years. Such successes are a testament to the devotion of his libertarian-leaning followers and their ability to outorganize and outhustle the competition.
But these days, political observers and members of the media take his straw poll wins for granted. And these victories have yet to translate to larger ones for the now three-time presidential candidate -- who hasn't broken through yet in Republican elections nationally.
Speaking Saturday, Paul called for fewer government regulations and more "freedom for America."
"Liberty and life does not come from the government," he said. "It comes from our creator."
As much as the vote -- a fund-raiser for the Iowa Republican Party -- could catapault some candidates, it may also eliminate those who have staked their candidacies on Iowa but struggled to generate grassroots enthusiasm.
They included Santorum, who acknowledged his underdog status but promised a comeback.
"This is the little-engine-that-could campaign," the staunch social conservative said. "They told us we had no chance."
Cain, a businessman and former radio host running on his outsider image, is fading after a strong early start to the campaign. He had tried to manage expectations for the straw poll, but recently told a Des Moines audience that he needs to finish in the top three. Anything less, he said, would compel him to "evaluate" his campaign.
In a raucous address Saturday, Cain ran through his positions on a host of economic, foreign policy and other matters while saying Americans "are ready to embrace a problem-solver and not another politician."
Referring to an epiphany he had 12 years ago after his first grandchild was born, "I had to use my talents, skills and abilities to do something about this nation and get it off the wrong track," Cain said. "This giant has awakened and is not going back to sleep."
Pawlenty's performance in the poll was seen as especially critical. Observers had said he must finish in first or second place and send a message to his supporters (and the media) that his campaign can soldier on through the fall and winter.
The former Minnesota governor has a platoon of smart political operatives in his corner and is thought to have the best ground game in the state. But despite planting an early flag in Iowa and improving his performance on the stump in recent weeks, the Midwesterner remains stuck in single-digits in state polls.
On Saturday, he echoed many others in blasting President Barack Obama, claiming he "has no clue" and saying "he is like a manure spreader in a wind storm."
Pawlenty also vowed that his ability to get re-elected in Minnesota shows he has the track record to succeed in governing and also win over swing voters.
"I don't just talk about it. We got the job done, for Minnesota and America," he said.
The results of the Iowa straw poll will be carefully scrutinized by political analysts, helping propel some candidates in their fundraising and campaign efforts elsewhere even as it deflates others.
Iowa Gov. Terry Branstad, a veteran observer of Republican politics in the state, said it is critical that a candidate do well if they are to have any chance, down the line.
"If you're not in the top three here, your chances of getting elected are not very good," he said.
But history shows a straw poll win hardly guarantees future success in the state or nationwide. In 2007, ex-Massachusetts Gov. Mitt Romney won the vote, but his closest rival in the state, former Arkansas Gov. Mike Huckabee, ultimately won the Iowa caucuses and dealt a fatal blow to Romney's candidacy. The Republican nominee that year, meanwhile, was Arizona Sen. John McCain.
Only one Republican has won the straw poll and gone on to occupy the Oval Office: George W. Bush.
How Many American Voters Are Surprised To Hear That GOP Leaders Have Rejected Pres. Obama's Bid For Bi-Partisanship & His Agenda To Help Fix George W. Bush's Deregulated, Job Killing Wall Street Mess?
I'm Not Surprised At All.
But Who Cares If GOP Leaders Don't Like Pres. Obama!
I Mean Who Really Cares?
Since When Did Capitol Hill & The White House Become A Kindergarten Playground?
Does Someone HAVE To Actually Like Another Human Being To Respect Their Position Or To Work With Them?
I'm Sure It Wouldn't Hurt, However It Isn't A Prerequisite.
Pres. Obama Sir We Just Want To See Strong Leadership! NOT A President Begging For Bi-Partisanship!
The American People (VOTERS) Want Results!
Am I Right?
It Would Noble If Both Political Parties In D.C. Would Work Together To Serve Their Constituents But If NOT Then Please Don't Allow GOP Leaders To Distract You From Effective Leadership.
And While We're On The Subject, Please STOP Listening To Bill Daley's Compromising Advice!
Too Much Compromise Makes You Appear Weak Before Your Elected Counterparts & Peers.
Pres. Obama You Are An Intelligent Man.
Roll Up Your Sleeves & Start Utilizing All Of The Legal Tools In Your Presidential & Constitutional Tool Kits!
If GOP Leaders Refuse To Cooperate & Work With You, STOP Kissing Up To Them & Unite With Fellow Democrats And Independent Voters For Positive, Tangible Results!
Stand Up To GOP Leaders Versus Bowing Down Or Begging Them!
You've Wasted 2 1/2 Years Begging GOP Leaders To Work With You.
Where Did It Get You?
Voters Like Myself Lost Confidence In Your Administration & Democrats Lost The House In 2010.
Are You A Leader Or A Slave?
You Still Have Time To Redeem Yourself But ONLY If....
You Focus On Doing What America's Voters Elected You To Do:
Get This Debt Ceiling Deal Signed, Sealed & Delivered!
Help Inspire The American Business Community To Create Jobs,
Help Repair The Busted, Subprime Loan Housing Market,
Reform America's Public School System By Revising Or Repealing No Child Left Behind,
Help Veterans More. Why Are So Many Retired Veterans Who Reside On U.S. Military Bases Being Overcharged For Rent? They've Served Their Country Honorably But Are Now Being Overcharged To Live In Raggedy Housing? i.e., Ask Balfour Beatty Why.
Save Medicare & Medicaid But Reform Both. Stop The Fraud & Waste!
Preserve Pell Grants For College Students From Middle Class & Low Income Families,
Stop Sending Funding Corrupt For-Profit Colleges,
Reform The Federal Student Loan Program. Much More Can Be Done To Help Students,
Help Create More Clean Energy & Green Jobs. i.e., Bill Clinton Retrofitting Idea,
Reassess The Way Social Security Is Calculated For Extremely Wealthy Citizens,
Reform The Tax Code So That Billionaires & Millionaires Who Send Jobs Overseas Will Pay Their Fair Share,
Eliminate The Unpaid For Medicare Advantage Programs,
End Subsidies For Oil Companies,
Encourage Congress To Pass The Infrastructure Rebuilding Bill Currently Sitting In Congress Which Will Create Millions Of Jobs,
Help Nancy Pelosi Take Back The House In 2012!
Congresswoman Nancy Pelosi Has Been Loyal & You Do Owe Her.
I Repeat: Focus On Doing What America's Voters Elected You To Do!
Once Again Pres. Obama Is Begging Congress To Behave In A "Bi-Partisan" Manner.
How Many Of You Are Tired Of This "Kumbaya" Stuff??
Here's What I Suggest:
If Pres. Obama Stops Listening To Bill Daley, Stops Begging Congress For "Bi-Partisanship" & Quits Bowing Down To GOP Leaders Then Perhaps He Can Get Something Constructive Done For This Country!
Ex: Job Growth From The Private Sector & Sealing A Debt Ceiling Deal Before The August 2nd Deadline!
Congress Doesn't Respect Him Because He Refuses To Govern W/out Begging The GOP To Work With Him.
Who Cares If GOP Leaders Don't Like Pres. Obama!
Who Cares?
Does Someone HAVE To Like You To Respect Your Position Or To Work With You?
I'm Sure It Wouldn't Hurt, However It Isn't A Prerequisite.
People Want To See Strong Leadership! NOT A President Begging For Bi-Partisanship!
The American People (VOTERS) Want Results!
Am I Right?
Think For Yourself Pres. Obama! STOP BEGGING & Do Something! Get It Together!
Sir If You Still Want My Support In 2012 Please Get It Together!
With the deadline for the debt ceiling negotiations rapidly approaching, President Barack Obama called on Democrats and Republicans to work together to find “a balanced approach” to solving the nation’s debt crisis.
“Right now, we have an extraordinary – and extraordinarily rare – opportunity to move forward in a way that makes sure our government lives within its means,” Obama said in his weekly address. “And I’m hopeful that we will rise to the moment, and seize this opportunity, on behalf of all Americans, and the future we hold in common.”
The Treasury Department has warned that failure to raise the nation’s $14.3 trillion debt ceiling by August 2 could lead to a possible default, which could provoke skyrocketing interest rates and cause the dollar to plummet.
But both parties have thus far been unable reconcile their radically convergent strategies to solve the nation’s economic crisis, as Republicans refuse to raise taxes in a weak economy and Democrats denounce proposed cuts to entitlement programs as draconian and unacceptable.
In the GOP weekly address, Rep. Cathy McMorris Rodgers of Washington, said, “There can be no increase in the national debt limit unless it is accompanied by serious spending cuts and reforms.” McMorris Rodgers, the House Republican Conference vice-chair, blasted the Democratic-led Senate for failing to consider any of the job creation bills proposed by the House.
In his address, Obama conceded that the two sides still have “real differences in approach,” but said there is agreement on “some of the big things.”
“We agree that after a decade of racking up deficits and debt, we finally need to get our fiscal house in order. We agree that to do that, both sides are going to have to step outside their comfort zones and make some political sacrifices,” Obama said.
A bipartisan group of eight congressional leaders met behind closed doors with Obama at the White House Thursday to try to hammer out an agreement to raise the limit, but no deal was reached. The group said it will meet again on Sunday afternoon.
In his address, Obama also argued that an agreement is necessary for reducing the nation’s high unemployment rate, which was thrust back into the spotlight Friday after a disappointing jobs report showed that the economy added only 18,000 jobs in June.
“By getting our fiscal house in order, Congress will be in a stronger position to focus on some of the job-creating measures I’ve already proposed,” Obama said.
But Republicans blamed the low job creation numbers on Obama’s fiscal policies and used the dismal report to blast Democrat’s push for tax increases in the debt negotiations. “If we’ve learned anything, it’s that we cannot spend, tax, or borrow our way to prosperity. To create jobs and set our country on a sound fiscal course, we must stop spending money we don’t have,” McMorris Rodgers said in her address.
“From the look of things, the Democrats who run Washington don’t have a jobs plan; they have a spending agenda. They’re proposing a rehash of what’s already been tried: more spending, more taxes, and bigger government,” she said.
But while there was little agreement in the dueling addresses, both Obama and McMorris Rodgers concurred on one point: both sides need to work together.
“Mr. President, Americans are asking you, ‘Where are the jobs?’ We invite you to change course and work with us to empower, not burden, our nation’s small businesses, families, and entrepreneurs. We can do this if we work together,” McMorris Rodgers said. Obama, too, called on a unified approach. “We can meet our fiscal challenge,” Obama said. “That’s what the American people sent us here to do. …They sent us here to work together. They sent us here to get things done.”
President Barack Obama said Saturday that "nothing can be off-limits" in the budget debate — even though Republicans have said tax increases are. The president said every tax break and federal program must come under scrutiny.
With an Aug. 2 deadline looming to raise the government borrowing limit, the president used his weekly radio and Internet address to call on Congress to make a deal.
He also renewed his call for Congress to eliminate some tax breaks for the well-off as part of any agreement. Republicans want deep spending cuts without any tax increases while Obama and Democrats call for what they term a "balanced" approach. That means one that also includes new revenue in the form of higher taxes for some, though Democrats steer clear of using phrases like "tax increases" or "higher taxes."
"Now, it would be nice if we could keep every tax break, but we can't afford them," Obama said in his weekly radio and Internet address. "Because if we choose to keep those tax breaks for millionaires and billionaires, or for hedge fund managers and corporate jet owners, or for oil and gas companies pulling in huge profits without our help - then we'll have to make even deeper cuts somewhere else."
"Nothing can be off-limits, including spending in the tax code, particularly the loopholes that benefit very few individuals and corporations," the president said.
Obama listed a range of areas, some of which are considered top Democratic political priorities, that would face the chopping block if such tax breaks were allowed to continue.
"We've got to say to a student, 'You don't get a college scholarship.' We have to say to a medical researcher, 'You can't do that cancer research.' We might have to tell seniors, 'You have to pay more for Medicare,'" he said.
"That isn't right, and it isn't smart. We've got to cut the deficit, but we can do that while making investments in education, research and technology that actually create jobs."
Republicans used their weekly address to criticize Obama on the economy and renew their opposition to tax increases.
"The president and Democrats in Congress must recognize that their game plan is not working," said Sen. Dan Coats, R-Ind. "It's time to acknowledge that more government and higher taxes is not the answer to our problem. It's time for bold action and a new plan to address our current crisis."
'Cut waste' Treasury Secretary Timothy Geithner has warned of huge risks if Congress fails to raise the $14.3 trillion debt ceiling by August 2, potentially triggering a default that could send shivers through an already-fragile banking system.
Obama said both sides agreed spending cuts were necessary and said he and Vice President Joe Biden had made progress in getting lawmakers to agree on areas to cut.
"Over the last few weeks, the vice president and I have gotten both parties to identify more than $1 trillion in spending cuts," Obama said.
"But after a decade in which Washington ran up the country's credit card, we've got to find more savings to get out of the red. That means looking at every program and tax break in the budget — every single one — to find places to cut waste and save money."
Fears of a default, which could disrupt everything from debt payments to retirement benefits, rose after Republicans walked out of budget negotiations led Biden last week.
Coats said Obama had to step up to get a deal done.
"Now is the time for decisive leadership from this president," he said. "It's time to cast aside the false safety of political denial and re-election hopes and put the future of our country above all else."
In his weekly address to the nation, President Barack Obama called on Americans to invest in the manufacturing industry, calling it a necessary step for spurring job creation and economic growth.
Speaking from Pittsburgh’s Carnegie Mellon University, which he visited Friday, Obama began by making the case that his plan to withdraw 33,000 troops from Afghanistan by summer 2012 — which he announced in a speech to the nation Wednesday — is not only in the best interest of U.S. security but also a smart move for the economy.
But turning the economy in the right direction is not enough, Obama said. “Many Americans are still hurting, and now is the time to focus on nation building here at home.”
Obama maintained that the economy can’t be fixed through spending cuts alone. He advocated investments in areas like education, infrastructure, clean energy and research and development in a bid to create middle-class jobs.
The president touted the accomplishments of a company called RedZone Robotics in developing advanced manufacturing techniques. “The folks at RedZone aren’t just solving problems; they’re working with unions to create new jobs operating the robots, and they’re saving cities millions of dollars in infrastructure costs,” he said.
On Friday, Obama launched the Advanced Manufacturing Partnership, which aims to bring together the manufacturing industry, universities and the government. According to the White House, more than $500 million will be invested in the program, which was created from recommendations made by the president’s Council of Advisors on Science and Technology.
In the weekly address, Obama said the partnership has a broader mission than to create jobs. “It’s to renew the promise of American manufacturing,” he said. “To help make sure America remains in this century what we were in the last — a country that makes things. A country that out-builds and out-innovates the rest of the world.”
To the workers and families struggling to make ends meet, the president said he felt hopeful seeing companies like RedZone in Pittsburgh, which he said developed from a small school to a global university.
“We are a people who’ve always adapted to meet the challenges of a new time; who’ve always shaped our own destiny, and I’m absolutely confident that that’s what we’re going to do one more time.”
Sources: Business Insider, Politico, White House.gov, Youtube
Happy Fathers' Day To My Heavenly Father, My Biological Father & Step-Father (Both Deceased), President Obama & ALL REAL Fathers Everywhere! God Bless! Enjoy Today.
"Father! - to God himself we cannot give a holier name". ~William Wordsworth
"He didn't tell me how to live; he lived, and let me watch him do it". ~Clarence Budington Kelland
"My father used to play with my brother and me in the yard. Mother would come out and say, "You're tearing up the grass." "We're not raising grass," Dad would reply. "We're raising boys." ~Harmon Killebrew
"One father is more than a hundred Schoolmasters". ~George Herbert, Outlandish Proverbs, 1640
"Fatherhood is pretending the present you love most is soap-on-a-rope". ~Bill Cosby
Looks Like A Tough Political Showdown Between Pres. Obama & GOP Leaders Over Tax Breaks & Subsidies Is Headed Our Way.
You See The GOP Wants To Keep Throwing Money At Big Oil Companies In The Form Of Tax Subsidies In Exchange For BIG Campaign Checks From Oil Company Lobbyists.
President Obama On The Other Hand Wants To Cut Off Those Unfair Tax Subsidies & Tax Breaks.
In Fact GOP Lawmakers On Capitol Hill May Even Attempt To Use The Debt Ceiling As A Bribe Against Stopping Those Unfair Tax Subsidies To Big Oil Companies.
Excuse Me But Aren't Bribes What The GOP Accused Democrats Of Back In 2009 & 2010???
This Brutal Showdown Among Both Democrat & GOP Leaders Reveals One Of The Reasons Why Key GOP Lawmakers Are Trying To Kick Pres. Obama Out Of The Oval Office.
Can You Say: "The GOP Is More Likely Than Not As It Relates To Being Responsible For American Gas Price Gouging??"
That's Right!
It Appears As If The Republican Party Is Contributing To America's Current High Gasoline Prices, Yet NONE Of Them Want To Stop Giving Big Oil Companies Huge Tax Subsidies & Tax Breaks!
Just Another Logical Reason To VOTE OBAMA IN 2012!!
President Obama repeated his call Tuesday for an end to $4 billion in oil industry tax breaks as gas prices approach $4 a gallon and after a top lawmaker indicated a possible shift in Republican policy.
In a letter to congressional leaders, the president said the oil industry is profitable enough without the tax incentives and that the money should be spent on alternative energy sources and conservation.
"CEOs of the major oil companies have made it clear that high oil prices provide more than enough profit motive to invest in domestic production without special tax breaks," said Obama. "As we work together to reduce our deficits, we simply can't afford these wasteful subsidies."
This week those profits are going to be front and center. BP (BP) is expected to report earnings on Wednesday. Exxon (XOM, Fortune 500) is slated to announce its results on Thursday. Some analysts expect the company's profits to jump 50% from last year. Chevron (CVX, Fortune 500) is scheduled to make its earnings announcement on Friday.
The oil industry and many of its supporters in Congress have long argued that the tax breaks encourage domestic oil production and provide jobs for millions of Americans. Republicans in particular have resisted efforts to eliminate these tax breaks, something many Democrats have been trying to do since at least 2008.
But on Monday night, Speaker of the House John Boehner indicated he might be open to taking some of those breaks off the table.
Drill baby drill won't lower gas prices "I don't think the big oil companies need to have the oil depletion allowances, but for small, independent oil and gas producers, if they didn't have this, there'd be even less exploration in America than there is today," Boehner said on ABC's World News Tonight. "It's certainly something we need to be looking at."
Depletion allowances let oil companies treat the oil in the ground as capital equipment, and they can write off a certain percentage for each barrel that comes out.
On Tuesday the speaker appeared to backtrack from those comments, with an aid telling CNN that "what the President has suggested so far would simply raise taxes and increase the price at the pump."
Nonetheless, Obama took the chance to pounce, saying in his letter that he was "heartened that Speaker Boehner yesterday expressed openness to eliminating these tax subsidies."
This all comes as the price of gasoline surges above $4 a gallon in many states, making it increasingly difficult politically to defend Big Oil.
As gas prices approach their record highs set in 2008 they are threatening to derail the nation's nascent economic recovery.
The tax breaks in question The Obama administration is targeting nine tax breaks, according to a paper from the left-leaning Center for American Progress. Four account for the lion's share of the money:
Domestic manufacturing tax deduction: This is the largest single tax break, and would save over $1.7 billion a year if eliminated.
The tax deduction, passed in 2004, is designed to keep factories in the United States. Companies that manufacture here can deduct 9% of their income from operations that are attributed to domestic production.
But some question if that incentive is really appropriate for oil companies. "What are they going to do, move the oil field to the North Sea," said one staffer at the Center for American Progress said in an interview earlier this year.
No, but higher costs in the United States may make them move the drill rigs to the North Sea or some other place.
Eliminating the tax breaks "would actually discourage new energy projects and new hiring in one of the nation's most dependable job-creating industries," the American Petroleum Institute said in a statement at the time, noting the industry currently supports over 9 million jobs.
The percentage depletion allowance: This lets oil companies deduct about 15% of the money generated from a well from its taxes. Eliminating it would save about $1 billion a year.
The deduction essentially lets oil companies treat oil in the ground as capital equipment. For any industry, the value of that equipment can be written down each year.
But critics say oil in the ground is not capital equipment, but a national resource that the oil companies are simply using for their own profit.
The foreign tax credit: This provision gives companies a credit for any taxes they pay to other countries. Altering this tax credit would save about $850 million a year.
Foreign governments can collect money from oil companies through royalties -- fees for depleting their national resources -- and income taxes.
A royalty would be deducted as a cost of doing business, and would likely shave about 30% off a company's tax bill. Categorized as income tax, it is 100% deductible.
Foreign governments long ago grew wise to the U.S. tax code. To reduce costs for everyone involved and attract business, they agreed to call some royalties income taxes, allowing oil companies to take the 100% deduction on a bigger slice of their bill.
Intangible drilling costs: This lets the industry write off about $780 million a year for things like wages, fuel, repairs and hauling costs.
All industries get to write off the costs of doing business, but they must take it over the life of an investment. The oil industry gets to take the drilling credit in the first year.
Pres. Obama's Most Recent "Weekly Address" Video Memo Educates Voters On How Wrong & Unbalanced The GOP's 2012 Budget Plan Is For America.
Their Plan Will ONLY Help Millionaires & Billionaires Via Lipsmacking HUGE Tax Cuts!
Everyone Else Including Senior Citizens (Unless They're Super Rich), Will Be Forced Into A Life Of Poverty Or Low Level Existence!
I'm Extremely Pleased That Pres. Obama Has Finally Decided To Draw A Line In The Sand On The Tax Increase Issue.
Its High Time That Our Nation's Wealthiest Citizens Stop Being Allowed To Receive Unwarranted, Excessive Tax Breaks While Refusing To Give Back.
After Receiving Those Unwarranted, Excessive HUGE Tax Breaks From The IRS, Do Our Nation's Wealthiest Citizens Ever Show Any Gratitude?
NO!!
Instead Most Millionaires & Billionaires Often Spits On The Average Voter By Sending American Jobs Overseas For Cheap Labor Which Fattens Their Pockets, While Stealing From Middle Class & Lower Income Workers.
Its Imperative You Understand That How I Feel About The GOP's 2012 Budget Proposal Isn't Personal.
I Don't Personally Hate Any GOP Lawmaker Because Some Of Them Actually Do Have Some Great Ideas As It Relates To Governing On Both The Federal & State Level.
Its Just That In This Instance The GOP's So-called "Fiscal Responsibility" Efforts Are Somewhat Misguided & Unbalanced.
The GOP Foolishly Thinks That By Using Political Rhetoric & Scare Tactics, It Can "Nickel & Dime" Most Americans Out Of Social Security, Disability, Medicare, Medicaid, Pell Grants, Veterans Benefits, Head Start, Preschool, Job Training & Mortgage Assistance Programs While Continuing To Pander To Wealthy Supporters.
However As President Obama Recently Stated While Speaking At A Chicago Fundraiser, "Go At It!"
Republican and Democratic negotiators last week worked out a deal on a budget for the current fiscal year, which is half-over. The deal cuts nearly $40 billion from from the original budget plan.
Negotiators had been at it since last year, passing seven continuing resolutions to keep the government funded while they worked out their differences.
Getting the overdue 2011 budget behind it, Congress now begins work on 2012 spending plans, which promise to be a bigger fight because of tough choices that have to be made about the country's debt crisis.
The House passed legislation funding the government for the rest of the fiscal year Thursday.
What's likely to happen: The 2011 budget is expected to go to the Senate, which is also expected to pass it. Sen. Rand Paul, a Kentucky Republican who was one of the first big scores for the Tea Party in last year's midterm elections, had threatened to filibuster the bill in the Senate because the cuts weren't deep enough, but he backed down.
Who won, and who lost? President Obama was able to spare some of his initiatives from budget cutters and protect some traditional Democratic social issues from ax-wielding budget cutters.
Republicans were demanding nearly $60 billion in cuts and settled for two-thirds of that.
The vote on the bill could be a measure of whether House Speaker John Boehner of Ohio won or lost -- the deal he struck with Democrats last Friday wasn't popular with the Tea Party-backed part of his caucus, and it will be interesting to see how many of them vote against it.
What it means for you: You won't hear the term "government shutdown" until at least the end of September, when the current fiscal year ends.
Besides that, you won't feel much effect -- many of the "cuts" were actually unspent funds that were moved from one page of the books to another. And the federal government keeps humming along and piling up debt, which brings us to ...
The bigger budget battle
Obama presented his debt reduction plan Wednesday, a week after Republicans had unveiled theirs. Both are frameworks or blueprints, with the details to be filled in later.
The Republican plan looks to trim the nation's $14 trillion debt through cutting spending and overhauling Medicare and Medicaid -- government health programs for the elderly and poor -- and creating a voucher system.
Critics say it robs from the poor to pay the rich.
With his plan, Obama draws a line on Medicare and Medicaid reform, saying he won't allow anything to weaken those programs and instead wants to end the Bush-era tax cuts for the wealthiest Americans.
Critics say Obama's plan maintains the Democratic status quo and continues to push problems off on future generations.
What happens next: Lots of rhetoric.
Obama fired the first shots Video while presenting his plan, saying that the Republican blueprint seeks to have old folks pay more for their health care to provide for more tax breaks for the wealthy.
Rep. Paul Ryan, the House Budget Committee chairman who wrote the Republican plan, characterized Obama's announcement as a "political broadside" that will "poison wells" for any negotiations. Ryan said that Obama is more interested in re-election than solving the debt problem Video.
Obama dispatched Vice President Joe Biden to Capitol Hill to get a deal done by June. Unfortunately, Biden appeared to be sleeping during that part of Obama's announcement Video, so hopefully someone told him what he missed.
What's likely to happen: Who knows? The two plans draw some pretty thick ideological lines. But even some activists in the Tea Party, which helped shape the conversation on debt reduction, admit that big changes to Medicare and Medicaid will be a tough sell to some members of the movement.
In May, the government will hit its debt ceiling Video, meaning it cannot borrow any more money unless Congress votes to raise what amounts to the country's credit limit. Republicans say they won't vote to raise the debt ceiling without promises of significant spending cuts.
So that sets up a battle within another, with the beginnings of the 2012 presidential campaign.
What it means for you:
Hard to tell. If the debt ceiling isn't raised, the U.S. can't meet its financial obligations.
Here's how each side presents its rhetoric:
If Republicans have their way, they'll save billions in health care costs and the lesser tax burdens on corporations; their plan will spur the economy; and the deficit will be reduced by a quarter or so in 10 years.
If Democrats are able to get their plan passed, Grandma and Grandpa won't have to worry about paying rich people's taxes, rich people will pay more of a share in cutting the nation's debt, and the deficit will be reduced by a quarter or so in 12 years.
Or maybe Sen. Harry Reid can rekindle those warm feelings Video he had for Boehner as the clock neared midnight Friday and they can work something out.
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