Obama's opening "fiscal cliff" bid seeks debt limit hike, stimulus

Discussion in 'Politics' started by Stephanie, Nov 30, 2012.

  1. Stephanie
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    Stephanie Diamond Member Supporting Member

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    lovely

    SNIP:
    ASHINGTON | Thu Nov 29, 2012 7:21pm EST

    WASHINGTON (Reuters) - The Obama administration's opening bid on Thursday in negotiations to avert a year-end fiscal crunch included a demand for new stimulus spending and authority to unilaterally raise the U.S. borrowing ceiling, a Republican congressional aide said.

    The proposal, made by Treasury Secretary Timothy Geithner to congressional Republican leaders on Capitol Hill, was seen as offering little the Republicans could agree to and was greeted with laughter, the aide said.

    "We can't move any closer to them because they're not even on our planet," the aide said. "It was not a serious proposal."

    Obama and congressional Republicans are returning to the bargaining table to prevent across-the board tax increases and deep spending cuts, the so-called fiscal cliff, from taking effect next year.

    The president wants Bush-era tax breaks to be extended for all but the wealthiest earners, but Republicans have balked at tax hikes of any kind.

    In the maiden bargaining session, Geithner, the president's lead negotiator, proposed raising tax revenues by $1.6 trillion, congressional aides confirmed. That figure is in line with what Obama has said is necessary to achieve long-term deficit reduction of $4 trillion over 10 years.

    The administration also sought at least $50 billion in new economic stimulus spending.

    Obama's negotiators also sought the ability to raise the nation's borrowing limit unilaterally. Currently, Congress must approve an increase in the debt ceiling, and it was an impasse over that issue that brought the country perilously close to default in 2011.

    all of it here
    Obama's opening fiscal cliff bid seeks debt limit hike, stimulus | Reuters
     
    Last edited: Nov 30, 2012
  2. jillian
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    jillian Princess Supporting Member

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    and?
     
  3. Stephanie
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    Stephanie Diamond Member Supporting Member

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    Oh nothing..they put up a proposal that wasn't serious and was laughing about it
    this is who dealing with your lives..but who gives a shit..
     
  4. jillian
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    jillian Princess Supporting Member

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    what isn't serious about it?

    we need to build infrastructure. it's embarrassing how we measure up to other western countries in that regard.

    and we need jobs. so your point?

    i haven't seem anyone on the right say "cut military expenditures"... which is where the bulk of our money goes... as opposed to the small amount that is in discretionary spending.

    how about you address reality?

    or was the president supposed to win and say "ok...i give... i won.. you lost.. but you can still do things the way the american public rejected?
     
  5. The Rabbi
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    The Rabbi Diamond Member

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    It's the same proposal they have made for the last 4 years: Give us stimulus spending and when things recover we might talk about cutting spending.
    It is a non starter. It is totally removed from reality. It doesnt begin to address the real issues and has been a proven failure.
    But what else did anyone expect?
     
  6. The Rabbi
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    The Rabbi Diamond Member

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    If this were 2009 you might have a point.
    But we have spent billions on "infrastructure" and gotten bridges to nowhere and renovated railroad stations no one uses.
    Time to try again. Maybe something different this time.
    And it in no way addresses the trillion dollar yearly deficit, which is the major problem. Right, "counselor"?
     
  7. RoadVirus
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    RoadVirus <insert pithy title here>

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    Pfft. Obama is asking for even more. So much for being serious on compromise.
     
  8. RoadVirus
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    RoadVirus <insert pithy title here>

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    The point is this: How are we going to pay for it? We don't have the money.

    Plus, our Fathead in Chief is asking for power to raise the debt ceiling all by himself, without Congress. He won the election and now he thinks he deserves more power to do whatever he wants without Congressional approval.
     
  9. Quantum Windbag
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    Quantum Windbag Gold Member

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    And it is a joke. Even if Nancy Pelosi was Speaker of the House, and the Democrats had 61 seats in the Senate, there is no way he would get this.
     
  10. Quantum Windbag
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    Quantum Windbag Gold Member

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    We need to build infrastructure? What evidence do you have of that, other than the fact that people who make money off of infrastructure projects insist we need to build it? If you are actually serious about the need for infrastructure why don't you insist the federal government stop diverting gasoline taxes to build bike paths and hiking trails? Why don't you tell the to stop wasting money on bullet trains and Amtrack, and insist that passenger lines build and maintain their own tracks the same way freight lines do?

    Or does that make too much sense to work its way through your brain?
     

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