Love when the liberal media exposes liberal lies.
The AP reports:
[…]Partly by fate, partly by design, some scary fiscal forces come together at the start of 2013 unless Congress and Obama act to stop them. They include:
– Some $536 billion in tax increases, touching nearly all Americans, because various federal tax cuts and breaks expire at year’s end.
But Obama and the Democratic Party have lied for over a decade by claiming Bush’s tax cuts were only for the top 1%.
– About $110 billion in spending cuts divided equally between the military and most other federal departments. That’s about 8 percent of their annual budgets, 9 percent for the Pentagon.
Hitting the national economy with that double whammy of tax increases and spending cuts is what’s called going over the “fiscal cliff.” If allowed to unfold over 2013, it would lead to recession, a big jump in unemployment and financial market turmoil, economists predict.
[…]If negotiations between Obama and Congress collapse completely, 2013 looks like a rocky year.
Taxes would jump $2,400 on average for families with incomes of $50,000 to $75,000, according to a study by the non-partisan Tax Policy Center. Because consumers would get less of their paychecks to spend, businesses and jobs would suffer.
At the same time, Americans would feel cuts in government services; some federal workers would be furloughed or laid off, and companies would lose government business. The nation would lose up to 3.4 million jobs, the Congressional Budget Office predicts.
That’s still less than the number of jobs lost under Obama’s presidency.
[…]Several tax breaks begun in 2009 to stimulate the economy by aiding low- and middle-income families are also set to expire Jan. 1. The alternative minimum tax would expand to catch 28 million more taxpayers, with an average increase of $3,700 a year. Taxes on investments would rise, too. More deaths would be covered by the federal estate tax, and the rate climbs from 35 percent to 55 percent. Some corporate tax breaks would end.
The temporary Social Security payroll tax cut also is due to expire. That tax break for most Americans seems likely to end even if a fiscal cliff deal is reached, now that Obama has backed down from his call to prolong it as an economic stimulus.
[…]- Some 2 million jobless Americans may lose their federal unemployment aid. Obama wants to continue the benefits extension as part of the deal; Republicans say it’s too costly.
If Obama’s economy is so much better, why did Democrats extend unemployment benefits from 26 weeks to 99 weeks and why didn’t this “stimulate” the economy as Democrats claim?
– Social Security recipients might see their checks grow more slowly. As part of a possible deal, Obama and Republican leaders want to change the way cost-of-living adjustments are calculated, which would mean smaller checks over the years for retirees who get Social Security, veterans’ benefits or government pensions.
Those who paid into the system shouldn’t have their checks cut. The government should stop supporting those who have never worked, or worked barely enough to qualify for, retirement checks. Then the Democratic party should have to pay back all the money they stole to fund other liberal feel-good policies.
– The price of milk could double. If Congress doesn’t provide a fix for expiring dairy price supports before Jan. 1, milk-drinking families could feel the pinch. One scenario is to attach a farm bill extension to the fiscal cliff legislation – if a compromise is reached in time.
– Millions of taxpayers who want to file their 2012 returns before mid-March will be held up while they wait to see if Congress comes through with a deal to stop the alternative minimum tax from hitting more people
[…]In theory, Congress and Obama could just say no to the fiscal cliff, by extending all the tax cuts and overturning the automatic spending reductions in current law. But both Republicans and Democrats agree it’s time to take steps to put the nation on a path away from a future of crippling debt.
That’s a lie. The Democrats haven’t produced a single plan than cuts the deficit and refuse to pass any that the Republican House has passed to the Democrat-controlled Senate.
[…]Obama says any deal must include higher taxes for the wealthiest Americans. Many House Republicans oppose raising anyone’s tax rates. Boehner tried to get the House to vote for higher taxes only on incomes above $1 million but dropped the effort when it became clear he didn’t have the votes.
Another lie. Obama rejected Boehner’s “Plan B” that actually raised taxes on real millionaires and billionaires. You know, those who actually earn $1 million plus and not those who only earn $250,001 a year. Obama and the Democrats want to go over the fiscal cliff to raise taxes on everyone and continue to spend more than the government takes in.
Republicans also insist on deeper spending cuts than Democrats want to make. And they want to bring the nation’s long-term debt under control by significantly curtailing the growth of Medicare, Medicaid and Social Security – changes that many Democrats oppose.Obama, meanwhile, wants more temporary economic “stimulus” spending to help speed up a sluggish recovery. Republicans say the nation can’t afford it.
Every Obama budget and “economic plan” calls for more spending but never addresses spending cuts.
[…]Seems like they could just make nice, shake hands and split their differences, right?
But there’s a reason neither side wants to give ground. The two parties represent a divided and inconsistent America. True, Obama just won re-election. But voters also chose a Republican majority in the House.
Republican and Democrats alike say they are doing what the voters back home want.
Neither side has a clear advantage in public opinion. In an Associated Press-GfK poll, 43 percent said they trust the Democrats more to manage the federal budget deficit and 40 percent preferred the Republicans. There’s a similar split on who’s more trusted with taxes.
Wonder if this was another D+9 or 10 poll as the AP usually uses? Democrats have been in control of the budget since 2007 and how has that worked out for America????????
About half of Americans support higher taxes for the wealthy, the poll says, and about 10 percent want tax increases all around. Still, almost half say cutting government services, not raising taxes, should be the main focus of lawmakers as they try to balance the budget.
Yet Obama and the Democrats claim they have a mandate to raise taxes and continue spending.