By Devin Dyer and John Parkinson
Minutes after the House of Representatives approved a bipartisan Senate deal to avert the “fiscal cliff” and preserve Bush-era tax cuts for all Americans making less than $400,000 per year, President Obama praised party leaders and wasted little time turning to the next fiscal fight.
“This is one step in the broader effort to strengthen our economy for everybody,” Obama said.
Obama lamented that earlier attempts at a much larger fiscal deal that would have cut spending and dealt with entitlement reforms failed. He said he hoped future debates would be done with “a little less drama, a little less brinksmanship, and not scare folks quite as much.”
But Obama drew a line in the sand on the debt ceiling, which is set to be reached by March.
“While I will negotiate over many things, I will not have another debate with this Congress over whether they should pay the bills for what they’ve racked up,” Obama said. “We can’t not pay bills that we’ve already incurred.” FULL ARTICLE
English: President Barack Obama makes a statement in the Brady Press Briefing Room at the White House announcing a deal in the ongoing efforts to find a balanced approach to the debt limit and deficit reduction, July 31, 2011. (Photo credit: Wikipedia)
BOEHNER, CANTOR, TEA PARTY: WHAT A WAY TO GOVERN!
By NBC’s Frank Thorp
House Republican leadership considers a new proposal from the White House to avoid the so-called fiscal cliff “a small step in the right direction” but aides say that “there are still substantive issues that are unresolved.”
The lack of an outright rejection of the White House’s most recent proposal is noteworthy, hinting that both sides may be willing to come to an agreement with just 13 days until the New Year.
The reaction comes after the White House proposed Monday what they call a $2.4 trillion dollar deficit reduction package, including $1.2 trillion in new revenues and $1.22 trillion in spending reductions.
Included in the revenue increases is the expiration of the Bush-era tax rates for incomes of $400,000 and more, marking the first time the White House has moved on their stance of raising rates on incomes of $250,000 and more. The $1.2 trillion in increased revenue is also down from the $1.4 trillion in new revenues the White House included in their last proposal. FULL ARTICLE
THE RACHEL MADDOW SHOW
See earlier coverage by Steve Benen:
THE EVIL THAT IS MITCH McCONNELL OF kENTUCKY
Comment on “Meet the Press“
IMHO, David Gregory came ready for his show today, but, allowed Ed Gillespie and Sen. Kyl. When Kyl said “don’t raise taxes on those who create jobs,” Gregory should have asked how effective were the Bush Tax Cuts in getting the so-called “job creators” to create domestic jobs and repatriate American jobs and offshore profits.” All those who are prominent in the media have let the Republicans fundamentally change this country without revealing their ultimate goal. The Fourth Estate has failed the American people. Why is congressional gridlock acceptable? Why are voter suppression laws acceptable? Why is federal government allowing Fox News to be a virtual arm of the Republican party? Are they afraid that they won’t be able to get Republican leaders to appear on show on networks other than Fox? Would their profits take a fatal hit? They are failing to serve us! If we don’t point this out to them, then we fail ourselves!
“Almighty Fortress Is Our God”
Speaker John Boehner and now Mitt Romney enjoy talking about the job creators and their role in our politics. They all have failed America. They received the Bush Tax Cuts promising that they would make them create jobs. Well, they received the tax cuts, but, they have not created the jobs we sorely need in our sluggish economy. What do you call people who take money without delivering the goods? THIEVES! They should take a little risk and c r e a t e j o b s !