The Congressional Budget Office (CBO), recently released a new analysis on the impact of going over the "fiscal cliff," a combination of tax hikes and spending cuts set to automatically go into effect on Jan. 2, 2013. The study confirms that failing to take action would plunge America back into a recession and estimates that the unemployment rate would spike back up to 9.1 percent.
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.
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.
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?
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.
One week after the election, Washington is up to the same old tricks. As we speed closer to the fiscal cliff, the administration’s strategy to avert disaster looks like more of the same. Why should Americans expect anything different this time around?
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.
All ears will be tuned to Obama as he gives a speech in Pennsylvania to lay out his plans to avert the fiscal cliff. Will he address the need to cut spending or will his plan only include tax hikes? Lenwood Brooks, policy director of Public Notice, joins host Manny Haley on KRMS Morning Magazine in Lake Ozark, Mo., to discuss.
Yesterday in an interview with CNBC, Treasury Secretary Timothy Geithner said that the Obama administration is "absolutely" prepared to go off the cliff if Republicans don't budge on raising tax rates for those making more than $250,000 a year.
With no real progress in the fiscal cliff negotiations, Americans remain fearful that they will see a substantial rise in taxes coming in 2013. Gretchen Hamel joins AM Tampa Bay to discuss the current state of the cliff talks and why this standstill could mean politics will drive us off the cliff.
At his first press conference since May, President Obama made the case for why taxes needed to be raised on some Americans yet failed to address the root of the problem– spending. Gretchen Hamel, executive director of Public Notice, joins Neil Cavuto on Fox to discuss why raising taxes won't solve the fiscal cliff problem and only cutting spending will.