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poorrichardsnews.com
April 10, 2013
President Obama wants to make sure that people don’t save “more than is needed,” and his budget proposal includes steps that would limit the amount of money individuals can have in their retirement accounts.
from Bloomberg:
President Barack Obama’s budget proposal would cap multimillion-dollar tax-favored retirement accounts like the one held by Mitt Romney, his Republican rival in 2012.
Obama’s budget plan, to be unveiled April 10, would prohibit taxpayers from [...]
In his weekly radio address, President Obama explained the budget he’ll rollout next week, and said, “the truth is, our deficits are already shrinking.”
“My budget will reduce our deficits not with aimless, reckless spending cuts that hurt students and seniors and middle-class families – but through the balanced approach that the American people prefer, and the investments that a growing economy demands,” said Obama.
“Now, the truth is, our deficits are [...]
US President Barack Obama urged Congress Saturday to find a balanced approach to deficit reduction, warning that steep budget cuts known as “the sequester” would hurt the economy and threaten thousands of American jobs.
“If the sequester is allowed to go forward, thousands of Americans who work in fields like national security, education or clean energy are likely to be laid off,” Obama said in his weekly radio and Internet address, [...]
Boehner Headlines
BOEHNER SAID TO BE MOVING TO `PLAN B’ ON FISCAL CLIFF
BOEHNER SAID TO PLAN BILL WITH TAX HIKES ON INCOME OVER $1M
BOEHNER SAID TO CONTINUE NEGOTIATIONS WITH PRESIDENT OBAMA
HOUSE LEADERSHIP TO START WHIPPING VOTES ON “PROBABLY THREE DIFFERENT SCENARIOS” ON TAXES TODAY.
http://www.zerohedge.com/news/2012-12-18/boehner-headlines
House Speaker John Boehner plans to introduce a bill on the House floor that would include tax increases on incomes above $1 million, Politico is reporting.
Boehner will tell [...]
by GoldCore Gold Bullion
Today’s AM fix was USD 1,728.25, EUR 1,329.53, and GBP 1,077.87 per ounce.
Yesterday’s AM fix was USD 1,724.50, EUR 1,327.56, and GBP 1,076.47 per ounce.
Silver is trading at $34.32/oz, €26.53/oz and £21.50/oz. Platinum is trading at $1,621.00/oz, palladium at $683.30/oz and rhodium at $1,050/oz.
Gold rose $6.40 or 0.37% in New York yesterday and closed at $1,725.60/oz. Silver fell to a low of $33.51 in Asia, and ran [...]
Obama Begins Bipartisan Talks on Spending Cuts
from globalresearch.ca:
Boehner said that in his remarks at the White House meeting he proposed a combination of tax and spending measures “consistent with the president’s call for a fair and balanced approach.” He added, “To show our seriousness, we put revenue on the table as long as it’s accompanied by significant spending cuts.”
McConnell singled out Medicare, Medicaid and Social Security, saying that both parties “fully [...]
MELBOURNE, Florida – President Barack Obama said in an interview partly broadcast Sunday that he would be “more than happy to work with the Republicans” to trim the swelling national debt — as long as they drop their opposition to raising taxes on the wealthiest Americans.
“You can’t reduce the deficit unless you take a balanced approach that says, ‘We’ve got to make government leaner and more efficient,’” the president [...]
President Obama’s budget suffered a second embarrassing defeat Wednesday, when senators voted 99-0 to reject it.
Coupled with the House’s rejection in March, 414-0, that means Mr. Obama’s budget has failed to win a single vote in support this year.
Republicans forced the vote by offering the president’s plan on the Senate floor.
Democrats disputed that it was actually the president’s plan, arguing that the slim amendment didn’t actually match Mr. Obama’s budget [...]
Alexander Higgins
March 25, 2012
The Dallas Federal Reserve blasts too big to fail as a perversion of capitalism, outlining how Wall Street bailouts resulted in an unprecedented concentration of wealth.
The Dallas Federal Reserve has just released its damaging annual report titled “Choosing the Road to Prosperity – Why We Must End Too Big to Fail—Now” which reads much like a manifesto of the Occupy Wall Street movement.
The report holds no punches [...]
“This is a great day for Mike and Chantell Sackett, because it confirms that EPA can’t deny them access to justice. EPA can’t repeal the Sacketts’ fundamental right to their day in court.”
– Damien M. Schiff,
PLF Principal Attorney
WASHINGTON D.C.; March 21, 2012: In a precedent-setting victory for the rights of all property owners, the United States Supreme Court today held that landowners have a right to direct, meaningful judicial review if the [...]
Why he’ll let it rise even higher than his official “2%” target…
From Bloomberg:
Federal Reserve Chairman Ben S. Bernanke spent six years pushing for an inflation goal. Now that he has it, some investors are betting he’ll breach the 2 percent target in the short run to lower unemployment.
The Fed chairman told lawmakers last week that an increase in energy costs will boost inflation “temporarily while reducing consumers’ purchasing power.” He [...]
Gov. Jerry Brown announced today he’s filing to put an initiative on the ballot that would impose new taxes on “millionaires and high-income earners.”
Full text of of his “Open Letter to the People of California”
When I became Governor again — 28 years after my last term ended in 1983 — California was facing a $26.6 billion budget deficit. It was the result of years of failing to match spending with [...]
By Stephen Dinan – The Washington Times
** FILE ** President Obama delivers a speech to a joint session of Congress at the Capitol in Washington on Thursday, Sept. 8, 2011. (AP Photo/Kevin Lamarque, Pool)
President Obama on Monday will propose a deficit plan that calls for about three dollars in new tax increases for every dollar in additional spending cuts as he seeks to [...]
During his brief media appearance on Monday responding to S&P’s downgrade of the U.S. credit rating and the subsequent stark market plunge, Pres. Barack Obama once again renewed his call for a “balanced approach” to debt reduction, combining modest entitlement reform with tax increases. This was the same formulation repeated endlessly by the president, Democrats in Congress, and much of the media throughout the [...]
By Jamie Klatell
Standard & Poor’s decision to downgrade the nation’s credit rating reinforces Democrats’ call for increasing tax revenue, Senate Majority Leader Harry Reid (D-Nev.) said Friday.
In a statement, Reid said:
The action by S&P reaffirms the need for a balanced approach to deficit reduction that combines spending cuts with revenue-raising measures like closing taxpayer-funded giveaways to billionaires, oil companies and corporate jet owners. This [...]
From FT:
As Barack Obama celebrates his 50th birthday on Thursday, there are no shortage of things he could wish for. Liberals in his political base see him as a pushover who was outmanoeuvred at every turn in the stand-off over the debt ceiling; the US economy appears to be stagnating; and the president’s poll numbers hit an all-time low this week.
Some are questioning if the man [...]
With all of the spotlights on the high-stakes debt maneuverings by President Obama and Speaker John Boehner the last few days, few people noticed what Vermont’s Sen. Bernie Sanders said:
“I think it would be a good idea if President Obama faced some primary opposition.”
This is political treason 469 days before a presidential election. Yes, yes, this is just a crusty old New England independent for now, [...]
The White House
Office of the Press Secretary
For Immediate Release
July 25, 2011
Address by the President to the Nation
East Room
9:01 P.M. EDT
THE PRESIDENT: Good evening. Tonight, I want to talk about the debate we’ve been having in Washington over the national debt — a debate that directly affects the lives of all Americans.
For the last decade, we’ve spent more money than we take in. In the year 2000, the [...]
President Barack Obama addresses the nation from the East Room of the White House in Washington, Monday, July 25, 2011, on the approaching debt limit deadline. (AP Photo/Jim Watson, Pool)
Seeking to reclaim leadership on debt talks, President Obama on Monday night made a last-minute strenuous pitch that tax increases to be included in any deal, but Republicans’ top negotiator, House Speaker John A. Boehner, said the president himself [...]
A White House gambit to clinch a grand bargain with House Republicans on the debt ceiling ran into trouble Thursday when Senate Democrats decried any attempt to forge a deal without guaranteed new tax revenues.
Reports of an impending deal, coming just 11 days before an Aug. 2 deadline to raise the $14.3 trillion federal debt limit, quickly consumed Capitol Hill and brought immediate denials from House Republicans and the White [...]
WASHINGTON (AP) — Declaring “11th hour” urgency” to raise the government’s borrowing limit, President Barack Obama on Tuesday hailed a plan by “Gang of Six” senators from both parties to reduce federal deficits as the kind of balanced approach that could break an economy-threatening deadlock. He said it was time for Congress as a whole to rally around such a [...]
Officials familiar with the negotiations say today’s meeting began with President Obama asking House Majority Leader Eric Cantor, R-Va., to lay out what was agreed upon in the deficit reduction talks led by Vice President Biden.
Cantor outlined around $2 trillion in deficit reduction over the next decade: $1–1.1 trillion in discretionary spending; $200 billion in mandatory discretionary spending (such as civilian military retirement and [...]
House Speaker John Boehner of Ohio, left, and President Barack Obama meet with congressional leaders in the Cabinet Room of the White House,Sunday, July 10, 2011, in Washington, to discuss the debt. (AP Photo/Carolyn Kaster) WASHINGTON—Call it eliminating an unfair break, or removing an unjust loophole, or even “taking a balanced approach.” Just don’t call it raising taxes.
As they work toward a must-do deal with [...]
“Our total debt is about to reach the size of our entire economy. That’s kind of the framework in which we’re operating in when we discuss this. Now, I actually think we’re closer to some sort of agreement on this, Sen. Ayotte, than a lot of people realize.
“I’ve heard the term thrown around in the last couple days, a ‘balanced approach’ to dealing with it, [...]
By Greg Hunter’s USAWatchdog.com
Thank goodness the Casey Anthony case is over! The jury thinks she is not guilty of murder. I don’t know if they got right or wrong, but I do know many dollars and much air time was devoted to a story that will have zero effect on the lives of 99.999% of Americans. I think the discovery of a walking, talking Martian [...]
At a time Gov. Rick Perry has considerably stepped up his travel schedule, the Legislature on Tuesday amended a school finance bill to keep the details of the cost of his security team secret for 18 months.
At Perry’s urging, lawmakers inserted language into SB1 that will keep the details of travel vouchers submitted by his Department of Public Safety security team secret for 18 months [...]
Senate Minority Leader Mitch McConnell (R-KY) will meet with President Obama today to try to restart talks on raising the debt ceiling.
Unwilling to negotiate with Democrats on tax increases, Republicans are willing to agree to cuts in defense spending to reach a compromise on raising the debt ceiling.After congressional Republicans pulled out of the Vice President Joe Biden-led talks over Democrats’ insistence that tax hikes be [...]
By CAROL E. LEE And DAMIAN PALETTA, WSJ
WASHINGTON — President Barack Obama will describe his plans for long-term deficit reduction Wednesday, in a move likely to kick off a months-long debate with Republicans while alienating some members of his own Democratic Party.
In a midday speech in Washington, Mr. Obama will propose a plan that includes cuts to entitlement programs such as Medicare, limits on military [...]
As he puts together his Wednesday speech on the federal debt, President Obama is poised to revive the great tax cut debate of late 2010 — and launch what is likely to be a major campaign issue of 2012.
Namely, tax rates for wealthier Americans.
Late last year, Obama and congressional Republicans looked at the expiration of the tax cuts signed into law by President George W. Bush.
Obama wanted to extend those [...]
The Center on Budget and Policy Priorities has released a report “State Tax Changes in Response to the Recession” in which the center notes that “national recession has had such a devastating effect on state finances that states took in $87 billion less in tax revenue from October 2008 through September 2009 than they collected in the previous 12 months. This 11 percent decline, the steepest on record, resulted from [...]
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