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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Count down to government shut down

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

Count down to government shut down

By Raymond Thomas Pronk

Senate_Must_Act

House votes to fund federal government but defund Obamacare                Credit: http://www.ktvu.com

The nonessential parts of the federal government may be shut down on Oct. 1 until Congress passes either a fiscal year 2014 budget appropriations bill or a continuing resolution.

Fiscal year 2014 begins Oct. 1 and ends Sept. 30, 2014. Since the Democrats want to increase government spending and taxes and the Republicans want to decrease government spending and taxes, neither party will agree to a budget appropriations bill.

Instead of a stalemate, Congress could pass a joint continuing resolution that appropriates funds for government departments, agencies and programs at current, expanded or reduced levels until a formal appropriations bill is signed into law or until the resolution expires. A continuing resolution would have to be passed by both the House and Senate and then signed into law by the president.

The House passed a continuing resolution on Sept. 20 that would fund the federal government at current levels for the first 11 weeks of the fiscal year 2014 and keep the federal government open. If this continuing resolution is not passed by the Senate, some nonessential parts of the federal government would need to be shut down.

The House resolution had two amendments. The first would strip out funding for the Patient Protection and Affordable Care Act, more commonly referred to as Obamacare and thereby stop its implementation. The second would direct how federal government spending is prioritized in the event the Treasury hits the borrowing debt ceiling limit in the near future.

The 230-189 vote was mainly along party lines with 228 Republicans and two Democrats voting in favor and 188 Democrats and one Republican voting against the continuing resolution.

Speaker of the House John Boehner (R-Ohio) held a victory rally after the resolution passed and remarked, “The American people don’t want the government shut down, and they don’t want Obamacare. The House has listened to the American people. Now it’s time for the United States Senate to listen to them as well.”

House Majority Leader, Eric Cantor put several Democratic Senators, who are up for re-election in Nov. of 2014, on the spot. Cantor called out Sens. Mark Begich of Alaska, Mark Pryor of Arkansas, Mary Landrieu of Louisiana and Kay Hagan of North Carolina. Cantor said, “It’s up to Senate Democrats to follow House Republicans and show some responsibility.”

Sen. Ted Cruz (R-Texas) said on Sept. 19, “I will do everything and anything possible to defund Obamacare.” Cruz promised to filibuster any attempt to strip out the language of the House continuing resolution that defunds Obamacare. A filibuster is the use of irregular or obstructive tactics by a Senator to prevent the adoption of a measure.

Cruz began his filibuster by saying: “I rise today in opposition to Obamacare. I rise today in an effort to speak for 26 million Texans and for 300 million Americans. All across this country Americans are suffering because of Obamacare. Obamacare isn’t working and yet fundamentally there are politicians in this body who are not listening to the people. They are not listening to the concerns of their constituents. They are not listening to the jobs lost, the people forced into part-time jobs, the people losing their health insurance, the people who are struggling. A great many Texans, a great many Americans feel that they do not have a voice. So I hope to play some very small part in helping to provide that voice for them. …I  intend to speak in opposition to Obamacare. I intend to speak in support of defunding Obamacare, until I am unable to stand.”

Cruz delivered on his promise by standing and speaking for more than 21 hours on Sept. 23-24.

According to a Sept. 15 NBC/WSJ poll, 44 percent of respondents call Obamacare a bad idea and 31 percent believe it’s a good idea.

In a national survey of 1,000 likely voters conducted on Sept. 14-15 by Rasmussen Reports, 51 percent favor a government shutdown until Congress cuts health care funding. The Rasmussen survey also found that “58 percent favor a federal budget that cuts spending, while 16 percent prefer one that increases spending. Twenty-one percent support a budget that keeps spending levels about the same.”

According to Rasmussen, “74 percent of Republican and 62 percent of unaffiliated voters would rather have a shutdown until the two sides can agree on what spending to cut,” while “63 percent of Democrats agree with the president and would prefer to avoid a shutdown by authorizing spending at existing levels.”

“Republicans are simply postponing for a few days the inevitable choice they must face: pass a clean bill to fund the government, or force a shutdown. I have said it before but it seems to bear repeating: the Senate will not pass any bill that defunds or delays Obamacare,” said Senate Majority Leader Harry Reid (D-Nevada).

The Democrats are determined to fund Obamacare, shut down the government on Oct.1 and blame it on Republicans.

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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