Boehner to Obama: 'You've got your tax increase'
Republicans and Democrats dig in yet one more time in a budget fight. The big question is how much the battles will hurt the economy.
President Obama wants some tax increases to offset some inevitable spending cuts. The Republicans won't discuss it.
The President on Monday urged the nation's governors to press Washington lawmakers into action to avert the looming sequester. "All of us are concerned about our politics, both in our own party's as well as the other party's. But at some point we've got to do some governing," he said.
But House Speaker John Boehner scoffed Monday at the tax idea. "The president says we have to have another tax increase to avoid the sequester," Boehner said. "Well, Mr. President, you got your tax increase. It's time to cut spending."
Boehner and others accused Obama of running a political campaign and trying to scare Americans rather than doing any serious talking about sequestration.
It's not clear how soon the cuts will be apparent after Friday when sequestration is supposed to kick in. Investors, however, didn't much like the uncertainty. The Dow Jones industrials ($INDU) fell 216 points to 13,784, the worst loss for the blue-chip index since November.
The sell-off was exacerbated by worries that Italy was heading to political deadlock and could disrupt markets in Europe.
The sequester involves about $85 billion in cuts, roughly split between military and nonmilitary domestic programs. It was imposed in the 2011 deal that ended the debt-ceiling crisis. The cuts were meant as a scare tactic, not as a real-world policy, the Washington Post noted on Monday. The cuts conceptually were so deep and so painful, it was believed, that the two parties would be forced to replace them with something else.
But the Tea Party wing of the Republican Party is the controlling element, and they want spending cuts more than they care about anything else.
But after Boehner reportedly said over the weekend that the president had "b---s made out of marshmallows," the White House might not be too excited to negotiate with him.
The real bite will come on or about March 27 when Congress is supposed to pass a continuing resolution to keep the government running.
There are clear indications of who would be affected: Everyone. Federal employees face furloughs and salary cuts. Federal hiring has been frozen. The Transportation Department is warning that flights could be delayed or cancelled as air controllers are furloughed.
Airport security lines will be longer, Homeland Security Secret Janet Napolitano said Monday.
Most affected all will states and communities with big defense presences, including Texas, California, Florida, Virginia, Washington State and Hawaii.
In addition, medical research would be disrupted as would Medicare and other popular programs.
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MIRAGE GUY: Don`t act like you`re objective.We all know like most Republicans, you
are too lazy and stupid to have any solutions.You`re just a hatefull LOG CABIN
REPUBLICAN.I bet you`re too lazy to look up LOG CABIN REPUBLICAN.
No surprise here........... That is why the republicans tried to hold the ground on the first tax increase because they knew it would just open the flood gate for more tax increases. First the democrats will try to tax the rich to death and then they will start on the upper middle class then the middle class then the lower middle class........ All you people that supported the beginning of this raise tax cycle will soon be hip deep in it unless the republicans hold their ground and spending cuts that make sense are inacted.
I'm guessing by the sheer number of Kool Aid posters that these blogs actually matter and you are buying into the-- losing your shorts AND shirts scenario now.
Got to love you, Max... GAG Move... Guns Ammo and Gold. Three black holes most Republican and Tea Party zombies bought into. The first two get hyper-taxed, the last was a scam. You are about to lose your green eggs and ham!!!
The problem with GIVE & TAKE and the government is:
They GIVE us things that make us more dependent on them (BEHOLDING).
While they TAKE move of our money and freedoms.
Allowed to go on over time with them pushing it
WE WILL BECOME THE SOCIALIST STATE RUSSIA BECAME.
And if you actually believe they are spending more more for air travel then they are taking in, I have a swamp in Florida to sell you. The government lies and it's all just a game to them.
"We need 10 times the spending cuts just to get back to where W left us..."
Huh? George W. Bush was the most profligate President in our history. He spend more, raised the debt ceiling more, lied more and drank more Kool Aid than all the Presidents before him. He also didn't pay his bills, which is what Obama has been doing. Obama has cut more overhead and reduced expenses to literal government poverty. What he hasn't done because of the Party of NO is to raise taxes on the rich and stop Wall Street and the Federal Reserve from driving us further into the ditch. The sequester will trip-up government contractors- ALL hired by Dubya without competitive bidding. It will force our bloated profligate military to go on a diet. It will force the GOP to ACT, which should be exciting to see since acting-up is all we've seen so far. It will illuminate anarchist groups when the GOP is forced into unintended consequences of their own making. Pretty clever if you ask me. Worst place to be in these coming months? The South. Never quick to begin with. Artificially positioned for duration survival by Dubya. Unlikely to shift well now and shift will happen because Bernanke will be ending Operation Twist when the Senate Financial Committee orders him to. Banks can't service the slop they booked. Ending banks looping their addictions will bring about a new economy. Pretty much--- to be GOP will help you find your knees. You'll be on them soon enough and often. BTW... the GAG Move will be common. GAG: Guns Ammo & Gold (stole that one from Max-- thanks!). Two out of three of those get taxed, the third is fixed, you will lose because bigger crooks control pricing.
My life is perfect and great!
If any of yours isn't, go start a Revolution. I couldn't care less!
God bless America!
We need 10 times the spending cuts just to get back to where W left us... Obama is a Lazy, Arrogant, Corrupt Imbecile.
850 Billion in spending cuts would still leave us a 400 billion dollar deficit. 85 Billion in spending cuts is what the imbecile Obama (and Bernache) are printing every month.
We need way more spending cuts. Obama got his HUGE tax increase on the RICH! I guess by rich, he means anyone with a job... No it is time for Obama to live up to his Sequester Plan. It was HIS idea and now he is against Balanced approach...
CRAZY8`s:You must be smoking something good.The TEA party is a bunch of racist
Nazis that are being taken as fools by the Koch brothers.Who are convicted felons.
Question to republicans:
Was your tax refund bigger then the refund Facebook received?
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