Archive for debt deal

President Obama: No more deficit deals without higher tax revenues from wealthiest Americans

A picture’s worth…

Meanwhile, Grover Norquist is all over the Tee Vee machine lately:

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Could this be why? Via the New York Times:

On Tuesday, the speaker reiterated what has become known as the Boehner Rule: House Republicans will not increase the debt ceiling again without spending cuts of a greater amount. Mr. Obama, on Wednesday, told him Congress must pass a “clean” debt-limit increase to cover the nation’s obligations; there will be no more deficit deals, he said, without higher tax revenues from the wealthiest Americans… [T]his time the Obama administration believes it has the greater leverage. [...]

Tax increases were part of nearly every significant deficit-reduction measure of the 1980s and 1990s, including the 1982, 1984 and 1987 packages signed by Ronald Reagan, the 1990 accord under George H.W. Bush and Mr. Clinton’s 1993 measure… Mr. Obama’s chief of staff, Mr. Lew, participated in most of those deals, as an aide to House Democratic leaders and then as Mr. Clinton’s budget director.

Let’s hope the president gets his way. It’s hard to imagine, though.

Norquist is neither an elected official, an authority on anything, nor even a credible person. He is so full of misinformation, lies, and bull pucky, why legitimize him by inviting him to be on any cable news shows, especially ones that refuse to challenge him?

And no, I don’t count Fox shows as news.

Quickie: Lawmakers are secretly working on grand-bargain deficit deal

Today’s Quickie:

Via The Hill:

A small, bipartisan group of lawmakers in both the House and Senate are secretly drafting deficit grand bargain legislation that cuts entitlements and raises new revenue.

Sources said that the task of actually writing the bills is well underway, but core participants in the regular meetings do not yet know when the bills can be unveiled. [...]

The talks are so sensitive that some members involved do not yet want to be identified.

And by “do not yet want to be identified” they mean they’re ducking and covering.

Let’s hope by “cuts entitlements” they mean only fraud and waste, and by “raises new revenue” they mean hitting up the top 1%ers.

That was today’s Quickie. Will you still respect me in the morning?

VIDEO-BLUNT: How Crazy Is the Tea Party Congress?

Blunt is a lot like letters to the editor. YOUR take, short, to the point.

You have a voice, now use it.

This webisode of Blunt comes with special instructions. Every time Rep. Joe Walsh pops up, the text at the bottom changes slightly. You have to be quick, or pause the video, to catch it.

Also, a special thanks to voice actor extraordinaire D.C. Douglas for graciously allowing me to use clips from his amazing video, “Tea Party! America Thanks You!

For more information about how to contribute to Blunt, follow this link.

It’s your turn. Go.

VIDEO: Apparently Allen West didn’t read the S & P release

Allen West, had you even bothered to read the Standard and Poors release, you’d have seen this (via Think Progress):

It appears that for now, new revenues have dropped down on the menu of policy options. [...]

We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act.

Then again, what else would we expect from someone who claims it’s “socialist” to recognize the (ever-growing) gap between rich people and the rest of the country, fought to defund Planned Parenthood, called Rep. Debbie Wasserman-Schultz the most vile, unprofessional and despicable member of the US House of Representatives, and had my friend and radio host Nicole Sandler arrested for committing democracy?

LIVE VIDEO FEED: President Obama’s statement about credit downgrade 1 pm EDT

Black Tea Monday

Bloomberg as of 5:07 PDT:

Stock Futures

INDEX VALUE CHANGE   TIME
DJIA INDEX 11,176.00 -226.00   19:50
S&P 500 1,173.80 -24.00   19:49
NASDAQ 100 2,148.00 -39.00   19:49
FTSE 100 5,230.00 -158.00   08/05
DAX 6,257.50 -159.50   08/05
NIKKEI 225 9,360.00 80.00   14:00

Earlier the Dow was down 300. Tomorrow should be a fun day, huh? Or as my pal @Marnus3 called it, Black Tea Monday.

VIDEO- Paul Ryan: “…Can you have higher revenue growth through more economic growth and tax reform? Yes.”

Via Think Progress, where there are more details, but check this out:

[I]t seems Ryan would be open to such a deal. While he didn’t acknowledge shifting his position, the move comes just two days after S&P downgraded U.S. debt for first time in history, placing much of the blame at the feet of Republicans for refusing to raise revenues.