Obama Warns Debt Ceiling Should Not Be 'Used As A Gun' To Extract Tax Breaks - Politica... - 0 views
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Speaking at the Twitter Town Hall at the White House today, the president said Congress "shouldn't be toying" with the debt ceiling and cautioned against risking the financial health of the country in order to protect the interests of the super wealthy. "Never in our history has the United States defaulted on its debt. The debt ceiling should not be something that is used as a gun against the heads of the American people to extract tax breaks for corporate jet owners, for oil and gas companies that are making billions of dollars because the price of gasoline has gone up so high. I mean, I'm happy to have those debates. I think the American people are on my side on this," Obama said. The president was adamant that when it comes to fixing the economy and solving the deficit problem "we should go with what works," and that's a tax increase on the wealthy. "If the wealthiest among us -- and I include myself in this category -- are willing to give up a little bit more, then we can solve this problem. It does not take a lot… when people say, you know, "job-killing tax increases, that's what Obama's proposing," we're not going to," he said. "You're entitled to your own opinions, but not your own facts. And the facts are that a modest increase for wealthy individuals is not shown to have an adverse impact on job growth." "We can test the two theories. You had what happened during the '90s. Right? Taxes for wealthy individuals were somewhat higher, businesses boomed, the economy boomed, great job growth; and then the 2000s, when taxes were cut on wealthy individuals, jobs didn't grow as fast, businesses didn't grow as fast. I mean, it's not like we haven't tried what these other folks are pitching. It didn't work. And we should go with what works," he said.
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Why Obama Won Debt Deal by CRAIGCRAWFORD on JULY 31, 2011 · 91 COMMENTS · in ALL POSTS The President got what he most wanted, postponing another debt ceiling fight until after the election and without politically damaging entitlement cuts. Everything else is eye wash. Most of the spending cuts are in the out years, which is another way of saying it won't happen. And one more committee to study cuts? Oh please, even if they call it a "super" committee that's always a Capitol Hill euphemism for doing nothing. Adding so-called triggers for cuts if goals aren't met also means nothing. Remember Gramm-Rudman? Giving up tax increases on the wealthy is probably Obama's biggest concession, but that fight lives for another day when the Bush cuts are scheduled to expire later on.
The Bipartisan Debt Deal Fact Sheet: A "Victory" For The Republicans, The Democrats And... - 0 views
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White House Spin on Cave-In: In Securing this Bipartisan Deal, the President Rejected Proposals that Would Have Placed the Sole Burden of Deficit Reduction on Low-Income or Middle-Class Families: The President stood firmly against proposals that would have placed the sole burden of deficit reduction on lower-income and middle-class families. This includes not only proposals in the House Republican Budget that would have undermined the core commitments of Medicare to our seniors and forced tens of millions of low-income Americans to go without health insurance, but also enforcement mechanisms that would have forced automatic cuts to low-income programs. The enforcement mechanism in the deal exempts Social Security, Medicaid, Medicare benefits, unemployment insurance, programs for low-income families, and civilian and military retirement.
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"Effective Evil" or Progressives' Best Hope? Glen Ford vs. Michael Eric Dyson on Obama ... - 0 views
For Obama, No Opportunity Too Big To Blow | Naomi Klein - 0 views
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Blown Opportunity #1: Stimulus Package. Blown Opportunity #3: Auto Bailouts. Blown Opportunity #3: Bank Bailouts. No President since FDR has been handed as many opportunities to transform the U.S. into something that doesn't threaten the stability of life on this planet. He has refused to use each and every one of them. Let's look at the big three.