Obama’s SAD Deal

Posted on November 13, 2013. Filed under: Banking, Business, Congress, Credit, Economics, Fiscal Policy, Government, Government Spending, Health Care, Health Care Insurance, Law, Liberty, Macroeconomis, Microeconomics, Monetary Policy, People, Philosophy, Politics, Tax Policy, U.S. Constitution, War | Tags: , , , , , , , , , , , , , , |

Obama’s SAD Deal

By Raymond Thomas Pronk

sad-face

Presidents like to make deals with the American people that supposedly will fix things.

Theodore Roosevelt had his Square Deal, Franklin D. Roosevelt had his New Deal, Harry Truman had his Fair Deal, and President Barack Obama has his SAD (Spending Addiction Disorder) deal.

The most recent developments in Obama’s SAD deal are the federal government will be completely open for business and funded through Jan. 15, 2014 under yet another continuing resolution passed on Wednesday by Congress and signed by the president. The gross national debt ceiling was suspended until Feb. 7, 2014. By then the national debt will be approaching $17.5 trillion and will exceed the entire gross domestic product for 2013 estimated to be about $16 trillion.

In other words the SAD deal means more government spending and taxes, more massive budgetary deficits, more government debt and more money and credit creation by the Federal Reserve System to finance the SAD habit.

Senate Majority Leader Harry Reid (D-Nev.) and Minority Leader Mitch McConnell (R-Ky.) announced on Wednesday that they had reached an agreement to open the government until Jan. 15, 2014 and extend the debt ceiling through Feb. 7, 2014.

Sen. Ted Cruz (R-Texas) said, “The deal that has been cut provides no relief to the millions of Americans who are hurting because of Obamacare. The deal that has been cut provides no relief to all the young people coming out of school who can’t find a job because of Obamacare. It provides no relief to all the single parents who have been forced into part-time work, struggling to feed their kids on 29 hours a week.”

Unfortunately, the SAD deal will continue the annual massive budgetary deficits that over the last five years have averaged more than $1.2 trillion per year and will increase the burden of debt on existing and future generations of the American people. Under Obama’s SAD deal the gross national debt has been increased over $6 trillion to fund the fiscal year deficits from 2009 through 2013. The White House has optimistically estimated that the fiscal year deficit for 2014 will be only $750 billion!

The SAD deal has resulted in the worse post-World War II economic recovery with unemployment rates exceeding 7 percent for the 56 months of the Obama’s presidency. Tens of millions of Americans are searching for a permanent full-time job.

House Majority Leader Eric Cantor (R-Va.) at the Republican conference meeting on Oct. 16 said, “We all agree Obamacare is an abomination. We all agree taxes are too high. We all agree spending is too high. We all agree Washington is getting in the way of job growth. We all agree we have a real debt crisis that will cripple future generations. We all agree on these fundamental conservative principles.”

The American people agree that the Washington ruling elite of both the Democrat and Republican parties are simply incapable of controlling their SAD habit.

Cruz is right. The ruling elite are not listening to the American people.

The American people want federal spending and taxes to be cut, a balanced budget, the national debt paid off and Obamacare repealed. The American people can no longer afford to pay for Obama’s SAD deal.

Raymond Thomas Pronk presents the Pronk Pops Show on KDUX web radio from 4-5 p.m. Monday thru Thursday and from 3-5 p.m. Friday and authors the companion blog http://www.pronkpops.wordpress.com.

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Government Shutdown, Obamacare Launch, Internet Working!

Posted on November 13, 2013. Filed under: Banking, Congress, Credit, Economics, Fiscal Policy, Government, Government Spending, Health Care, Health Care Insurance, Law, Liberty, Macroeconomis, Microeconomics, Monetary Policy, People, Philosophy, Politics, Tax Policy, U.S. Constitution | Tags: , , , , , , , , , , , , , , , |

Government Shutdown, Obamacare Launch, Internet Working!

By Raymond Thomas Pronk

Get_Well_Obamacare

Credit: Drudgereport.com

“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, …”1 so began Charles Dickens’ “A Tale of Two Cities.”

The best of times in America in 2013: the Internet is up and running.

The worst of times in America in 2013: President Barack Obama ordered a partial shutdown of federal government with about 800,000 nonessential government employees furloughed and sent home and launched Obamacare on Oct 1. A shutdown takes place when Congress fails to authorize funds for government operations.

Since 1976 there have been 18 partial and full shutdowns of the federal government lasting usually a few days to three weeks. The last shutdown occurred 17 years ago under President Bill Clinton when the government was closed for 21 days over the budget deficit.

First, a recap of the congressional funding fight to keep the government open and funded including the Patient Protection and Affordable Care Act, commonly referred to as Obamacare.

In round one the Republican-controlled House passed a continuing resolution on Sept. 20 to fund the government at a level of $986 billion and keep it open for 11 weeks until Dec. 15 but would have defunded Obamacare.

In round two the Democrat-controlled Senate on Sept. 27 passed a continuing resolution by a vote of 54-44 along party lines that would have funded and kept open the government through Nov. 15 including Obamacare.

In round three the House early Sept. 29 passed, in a near party-line vote of 231-192, another continuing resolution to fund the federal government for 11 weeks until Dec. 15, but instead of defunding Obamacare, it would delay implementation of some key provisions, including the individual mandate for one year. The resolution would also repeal a new tax on medical devices.

The House also passed a bill to fund the troops and some Defense Department workers and contractors in the event of a government shutdown. The Senate passed the bill without dissent on Sept. 30 and the president signed the bill.

In round four the Senate twice rejected on Sept. 30 the House resolution to delay the implementation of Obamacare for one year and sent back to the House a clean resolution without the one-year delay in Obamacare and with funding for six weeks. The Senate also rejected Oct.1 the House call for a conference meeting to reconcile the House and Senate continuing resolutions (CR).

Senate Majority Leader Harry Reid (D-Nev.) refused to designate anyone as negotiators and send them to the meeting. Reid said, “The government is closed because of the irrationality of what’s going on the other side of the Capitol.”

Reid also said, “The bottom line is this: House Republicans should pass the Senate’s clean CR.”

House Speaker John Boehner said in a news conference on Sept. 30, “That’s not going to happen.”

The blame games begin.

Obama blames Congress. In a video message released midnight Monday and broadcast on Armed Forces television, Obama said, “Unfortunately, Congress has not fulfilled its responsibility. It has failed to pass a budget and, as a result, much of our government must now shut down until Congress funds it again.”

Republicans blame Democrats for the government shutdown.

House Majority Leader Eric Cantor (R-Va.) said, “None of us want to be in a shutdown. And we’re here to say to the Senate Democrats, come and talk to us.”

Texas Sen. Ted Cruz (R-Texas), a leader of the Tea-Party Republicans and who spoke on the Senate floor for over 21 hours in an effort to defund Obamacare, said, “The House has twice now voted to keep the government open. And, if we have a shutdown, it will only be because when the Senate comes back, Harry Reid says, ‘I refuse even to talk.’”

The implementation of Obamacare could easily put the slow-growing U.S. economy into another recession with even higher unemployment rates. Also, if Obamacare does not live up to its expectations and results in higher health insurance premiums with less plan benefits and coverage, the American people may take out their dissatisfaction not only with the Democratic Party, but with the president.

Heads could roll come Election Day, Nov. 4, 2014.

Raymond Thomas Pronk presents the Pronk Pops Show on KDUX web radio from 4-5 p.m. Monday thru Thursday and from 3-5 p.m. Friday and authors the companion blog http://www.pronkpops.wordpress.com.

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