What a Joke … Senate Fiscal Cliff Deal Will Add $4 Trillion to National Deficit

Another Obamaination … Wasn’t the point of passing a bill to save us from the fiscal cliff supposed to lower federal deficits and the national debt? 

As reported at The Hill, the US Senate deal to avoid the “fiscal cliff” will add roughly $4 trillion to the deficit when compared to current law, according to new numbers from the Congressional Budget Office (CBO). What a complete an utter joke. The CBO says the Senate budget agreement will lead to an overall increase in spending of about $330 billion over 10 years. How does this save us from the fiscal cliff? This is what happens when you add a tax on the so-called rich as some means of fixing the problem, when it was nothing more than a lie from Obama and Democrats. Spending cuts need to be made and changes in SS, Medicare/Medicaid and other entitlement programs..

The CBO determined Tuesday that the package, hammered out late Monday evening by Vice President Biden and Senate Minority Leader Mitch McConnell (R-Ky.) would — over the next decade — come with a $3.9 trillion price tag.

The agreement, which is pending before the House after passing in a 89-8 Senate vote early Tuesday, would extend lower tax rates on annual household income under $450,000 and postpone automatic spending cuts for two months.

The extension of lower tax rates for a bulk of the nation’s taxpayers and the addition of a permanent patch to the alternative minimum tax would add roughly $3.6 trillion to the deficit over the next decade, the CBO said. Other individual, business, and energy tax extenders would add another $76 billion.

Any Republican who votes for this needs to be primary challenged in 2014. This is all just a bad joke and you made it happen America last November by reelection Barack Obama. I hope you are proud of yourselves.

US Senate Passes Fiscal Cliff Plan With Tax Hikes and No Cuts in Spending 89-8

Early this morning the US Senate passed a “fiscal cliff” plan that was all tax kikes and no spending cuts by a vote of 89-8. The only nay votes were Bennet (D-CO), Carper (D-DE), Grassley (R-IA), Harkin (D-IA), Lee (R-UT), Paul (R-KY), Rubio (R-FL), Shelby (R-AL). The following did not vote, DeMint (R-SC), Kirk (R-IL), Lautenberg (D-NJ). This bill was all taxes and no spending cuts. Hardly a balanced approach that was claimed by Obama. As reported at Breitbart, FISCAL CLIFF DEAL: $1 IN SPENDING CUTS FOR EVERY $41 IN TAX INCREASES!!!

According to the Congressional Budget Office, the last-minute fiscal cliff deal reached by congressional leaders and President Barack Obama cuts only $15 billion in spending while increasing tax revenues by $620 billion—a 41:1 ratio of tax increases to spending cuts.

The grossly imperfect bill was supposed to prevent the US from going over the so-called fiscal cliff; however, it does not grow the economy, lower the debt or prevent taxes on the middle class. Get ready middle class for an increase in taxes as  the final deal did not include an extension of the payroll tax holiday.

Under the compromise arrangement, taxes would rise on income above $400,000 for individuals and $450,000 for households, while exemptions and deductions the wealthiest Americans use to reduce their tax bill would face new limits. The accord would also raise the taxes paid on large inheritances from 35% to 40% for estates over $5 million. And it would extend by one year unemployment benefits for some two million Americans. It would also prevent cuts in payments to doctors who treat Medicare patients and spare tens of millions of Americans who otherwise would have been hit with the Alternative Minimum Tax.

The middle class will still see its taxes go up: The final deal did not include an extension of the payroll tax holiday. And the overall package will deepen the deficit by hundreds of billions of dollars by extending the overwhelming majority of the Bush tax cuts. Many Democrats had opposed those measures in 2001 and 2003. Obama agreed to extend them in 2010.

AMERICA, GET READY TO GET TAXED TO DEATH.

An Obama Happy New Year … Fiscal Cliff or Not Americans Face $1 Trillion Obamacare Tax Hike Hitting on January 1, 2013

Taxation without any responsible representation … The Obama taxes!!!

America, get ready for the tax hikes on everyone that you voted in when Barack Obama won reelection. Thanks to that misguided and uninformed election Americans now face a $1 trillion Obamacare tax hike beginning January 1, 2013 … Happy New Year. So you thought that by participating in Obama’s class warfare against the so called rich would not effect you, eh? Think again … it all trickles down. All these Obamacare taxes and Obamacare still does nothing what it originally claimed to do.

$ 1 Trillion !!!

On January 1, regardless of the outcome of fiscal cliff negotiations, Americans will be hit with a $1 trillion Obamacare tax hike.

Obamacare contains twenty new or higher taxes. Five of the taxes hit for the first time on January 1. In total, Americans face a net $1 trillion tax hike for the years 2013-2022, according to the Congressional Budget Office.

The five major Obamacare taxes taking effect on January 1 are as follows: (full pdf doc can be read HERE)

1. The Obamacare Medical Device Tax - Medical device manufacturers employ 409,000 people in 12,000 plants across the country. Obamacare imposes a new 2.3 percent excise tax on gross sales – even if the company does not earn a profit in a given year.  In addition to killing small business jobs and impacting research and development budgets, this will increase the cost of your health care – making everything from pacemakers to artificial hips more expensive. The Patriot Perspective discusses exactly what this means. It is insane to make any industry pay a tax on their gross sales, versus net.
2. The Obamacare Flex Account Tax
3. The Obamacare Surtax on Investment Income
4. The Obamacare “Haircut” for Medical Itemized Deductions
5. The Obamacare Medicare Payroll Tax Hike

Democrat Majority Leader Harry Reid Says … House ‘Being Operated With A Dictatorship Of The Speaker’

Talk about the pot calling the kettle black … What ever happened to the “civility” that Obama had called for? Where is his leadership to tell those in his in party to shut their mouths, as they are helping nothing.

It would appear that Sen. Reid (D-NV) could care less about civility and trying to offer an olive branch in order to come to a deal with House Speaker Boehner. Harry Reid stated while speaking on the floor of the US Senate that the House was “being operated with a dictatorship of the speaker.” How juvenile could one be? How could anyone think that such words are helpful an would be considered doing the work of the American people? Just how many bills have the Senate passed to deal with the fiscal cliff?

With a Dec. 31 deadline for an agreement to avert the so-called “fiscal cliff” rapidly approaching, leaders in each party demanded the other side take the initiative. The new flare-up happened despite a round of calls that President Barack Obama made to congressional leaders by phone Wednesday night from Hawaii before he boarded Air Force One to head home from vacation.

The market was glum, with stocks falling for the fourth day in a row amid the stalled negotiations and a report that consumer confidence had plunged to its lowest level since August.

Obama’s plane landed in late morning at a suburban Maryland Air Force base, not long after Majority Leader Harry Reid took to the Senate floor to chastise House Republicans who last week opposed Speaker John Boehner’s efforts to pass a narrowly crafted bill. Boehner’s “Plan B” would have raised tax rates only on the very wealthiest Americans. But the opposition within his own party caucus forced the Ohio Republican to cancel a vote on the bill.

Reid charged Thursday that the House was “being operated with a dictatorship of the speaker.”

In a response to Reid’s childish remarks, Speaker Boehner spokesman Brendan Buck said: “Harry Reid should talk less and legislate more if he wants to avert the fiscal cliff. The House has already passed legislation to do so.”

I really have to question the wisdom of the American voters who reelected the status quo and those in Nevada who reelected Reid in 2010. The leadership in both parties needs to be purged and we need to start from scratch. Of course that should have meant Obama should have been thrown out on his ears as well.

Happy New Year America from Barack Obama … Turbo Tim Geithner Says US will hit $16.4 trillion debt limit? on New Year’s Eve

An early Happy News Year’s greetings from Barack Obama, according to Obama’s Treasury Secretary Turbo Tax Timmy Geithner, the United States will hit $16.4 trillion debt limit? on New Year’s Eve. Sadly, as the crystal ball drops in Time Square, NY ringing in the new year, the debt clock will be ringing in its own welcome to 2013 and $16.4 trillion. As Americans attempt to budget for 2013 and the impending fiscal cliff, Obamacare taxes and payroll taxes, Obama goes another year without a budget and more deficit spending.

The United States will reach its $16.4 trillion borrowing limit on Dec. 31 and undertake “extraordinary measures” to avoid default, the Treasury Department informed congressional leaders in a letter on Wednesday.

The notice about the debt ceiling came packaged with a stark warning from Treasury Secretary Timothy Geithner, who said the policy uncertainty stemming from the “fiscal cliff” makes it impossible for him to say with certainty how much time lawmakers have left to raise the borrowing cap.

“Given the significant uncertainty that now exists with regard to unresolved tax and spending policies for 2013, it is not possible to predict the effective duration of these measures,” Geithner wrote.