We're a little over two weeks away from the fiscal cliff, and Washington still doesn't have any answers when it comes to sequestration. What's worse is that back in October (during the peak of campaign season), President Obama said unequivocally that the sequester "will not happen," only to shift gears entirely last week when Treasury Secretary Timothy Geithner said that they were "absolutely" prepared to go off the cliff – and that, by the way, the Pentagon should start planning accordingly.
SHOT: Pelosi Predicts A Deal "Well Before Christmas." "Pelosi said leaders will be working behind the scenes to reach a deal, which she's hoping to wrap up 'well before Christmas.'" (Mike Lillis, Pelosi Seeks At Least $4 Trillion Cut To Deficit, The Hill, 11/16/12)
The debate over taxes has dominated the fiscal cliff negotiations and overshadowed the bigger problem of spending, specifically on entitlements. The president has offered a very clear vision of his plan to raise taxes as part of a balanced approach to deficit reduction, but has yet to detail how he would fully offset the sequester or address entitlements, the biggest drivers of our deficits.
Spending more money is the way to get out of $16 trillion in debt, right? That's what Washington seems to think, anyway. The White House is pushing for "tens of billions of dollars" in stimulus cash as part of a budget deal to avert the fiscal cliff.
After most Americans get off work today they will head over to the nearest gas station to pick up a Powerball ticket. With a jackpot like $550 million at stake, multiple ticket purchases will certainly be within reason. After all if someone's going to win, it might as well be me, right?
Less than one month out from the election and hundreds of union members are already marching on Capitol Hill today to pressure lawmakers and the White House to cave on their campaign promises to cut spending, reform entitlement programs and address our more than $16 trillion national debt.
On Nov. 6, Americans made one of the most important decisions they are tasked with in our great country and chose President Barack Obama to serve another term, in addition to other candidates down-ballot. Now that the campaign is over, those leaders are faced with an extraordinarily important decision themselves: what to do about the looming fiscal cliff.
Bankrupting America, a project of Public Notice, today released “’Twas the Night Before Cliff-Mas,” a 14-page book that parodies the famous poem “’Twas the Night Before Christmas” with a clever take on the fiscal cliff negotiations and how we came to the precipice of fiscal disaster.
As the White House claims it is prepared to go off the fiscal cliff if the GOP doesn't budge on taxes, it's hard to believe that prior to the election, Americans were reassured that sequestration would not happen. How can Americans trust Washington when they are so quick to change their tune? Lenwood Brooks, policy director for Public Notice joins the Bill LuMaye show to discuss.
Gretchen Hamel, executive director of Public Notice on Morning Magazine WENG-AM in Englewood, Fla., to discuss how Congress remains divided even after the election and as the fiscal cliff is growing closer, many wonder if the president will keep his promise to cut the deficit.