Sign In | Create an Account | Welcome, . My Account | Logout | Subscribe | Submit News | Extras | All Access e-Edition | Home RSS
 
 
 

Spending: No frenzy over lost income

March 6, 2013

Federal spending cuts labeled “the sequester” was to be a terrible calamity, the White House warned during the weeks before they kicked in on Friday....

« Back to Article

 
 
sort: oldest | newest

Comments

(22)

cruisin

Mar-06-13 2:51 AM

Not to be confused by neo-con spin doctors. Taxpayers never got a tax break. Instead, congress stoled money from your future social security income and trotted it out as a faux tax cut. It's called stealing from Peter to pay Paul. In the mean time, they are working overtime to protect the interests of wall street over main street. business as usual.

7 Agrees | 3 Disagrees | Report Abuse »

GeorgeB67

Mar-06-13 7:30 AM

This editorial is right on the mark. Part of Obama's rhetoric is that the economy will be hurt by the sequester because the government will be spending less. But that argument didn't hold water when the same amount of money was being taken out of the economy through a payroll tax increase.

Oh, and by the way, the sequster was Obama's idea...The hypocrisy from this administration is deplorable.

5 Agrees | 4 Disagrees | Report Abuse »

Dcronlg

Mar-06-13 7:32 AM

Boy, did the clueless church lady gaggle OBSERVER board geese ever spread a bunch of guano as this one.

It was the Bush tax cuts, two unfunded wars, Medicaid Part D and TARP (yup, that was signed by Dubya btw...) that got us into the economic deficit/liability mess we're still struggling with. No OBSERVER goose guano with those policies..

The 4% FICA tax holiday was part of the stimulus package, but I seem to recall the OBSERVER gaggle guano-ed all over that one, too and yet, surprise! -- they now miss it.

Talk about spin -- true to form, the gaggle is just waddling around in aimless circles, honking just to hear themselves honk, and guano-ing at the same time, just like geese do...

4 Agrees | 4 Disagrees | Report Abuse »

Dcronlg

Mar-06-13 7:39 AM

GeorgeB67 -- it WASN'T a payroll tax increase in the least. It was a tax holiday, it had a well-publicized beginning and end date, and when it expired, the with-holding percentage went up to their prior levels.

You cherry-pick to support your delusions.

4 Agrees | 3 Disagrees | Report Abuse »

judeye

Mar-06-13 8:06 AM

Talk about spin. The payroll tax decrease was enacted in Dec 2010 and was scheduled for only one year. Congress extended in again the following year, for one year. NEITHER Romney nor Obama were for extending this "tax holiday". By the way this money is earmarked for social security.

"The 2013 sequester includes: $42.7 billion in defense cuts (a 7.9 percent cut). $28.7 billion in domestic discretionary cuts (a 5.3 percent cut). $9.9 billion in Medicare cuts (a 2 percent cut). $4 billion in other mandatory cuts (a 5.8 percent cut to nondefense programs, and a 7.8 percent cut to mandatory defense programs). That makes for a total of $85.4 billion in cuts. "

Note numbers

Most of us have not felt the impact of the sequester and the devastation it will do. Much like a frog in water that you slowly bring to a boil, by the time we actually start to feel the cuts, it will be too late.

5 Agrees | 3 Disagrees | Report Abuse »

judeye

Mar-06-13 8:10 AM

I hope everyone takes a look at exactly what the sequester will cut. All because they cannot come together and make a COMPROMISE.

Oh, but somehow Congress did manage to come together and give themselves more vacation...NY times

"This week Congress will not vote on health care reform, the issue that has dominated recent debate. Nor will it tackle gay rights or revitalize our rail system or respond to climate change. Congress has left the building, granting itself an August vacation. That’s in addition to its week off this past February, two more in April and another in May. Most Americans get about two weeks a year, if that. Is something amiss in this 4-1 disparity?"

Are we not all sick and tired of Congress doing NOTHING but taking our money, giving themselves more vacation, and going on "trips" paid for by..yep..you and me, taxpayers.

5 Agrees | 2 Disagrees | Report Abuse »

jaycee

Mar-06-13 10:33 AM

I am so tired of hearing people discussing the sequester as "cuts" in spending. They are NOT cuts.They are calling it "growth reduction". Which translated means instead of $1.00 of "additional" spending, they will only spend 98 cents more! That's a cut, really?

Oh, one more thing......how about a budget O-man, its only been over 1400 days without one!!

5 Agrees | 1 Disagrees | Report Abuse »

DKexpat

Mar-06-13 11:37 AM

The nonpartisan Congressional Budget Office predicts the sequester could mean 750,000 fewer jobs by the end of the year and reduce GDP by 0.5 percent.

However, the Obama administration has been shooting itself in the foot with its “doom and gloom” road tour. Hint: the campaigning and election are over; you won. Now work on working with Congress...

P.S. The government in DC is closed today due to a snowstorm. BREAKING NEWS: No one noticed! :-)

5 Agrees | 0 Disagrees | Report Abuse »

judeye

Mar-06-13 4:32 PM

DKexpat..oh Obama did win...by a large majority by the way.

Wished the folks in Congress would recognize this. It was a clear choice in ways to move our country forward and deal with the deficit. I believe the people have spoken..we demand BOTH cuts in spending AND increases in revenues, primarily by raising taxes on the most wealthy and closing tax loopholes that allow a millionaire to pay a lower tax rate than someone on social security.

2 Agrees | 7 Disagrees | Report Abuse »

jaycee

Mar-06-13 4:45 PM

Why is the it that you leave out the fact that the GOP gave in in January and approved $600B in increased TAXES (although I know you libs prefer the term "revenues") that the President wanted. That's our money being wasted while Obama creates his socialism in our beloved country. He wants this country to go broke so he can begin "fundamentally changing our country" into socialism as he stated during his inaugural speech in 2008. God help us!!

4 Agrees | 3 Disagrees | Report Abuse »

American

Mar-06-13 7:01 PM

"we demand BOTH cuts in spending AND increases in revenues" Well you sure will be getting the increase in revenues starting with the detestable healthcare tax.

2 Agrees | 2 Disagrees | Report Abuse »

joew

Mar-07-13 6:55 AM

Judeye-I noticed that you did not mention your friends in Congress have not produced a budget going on five years now. TSA saying loooong lines at airports as a result of the sequester but seem to have plenty of money for new uniforms. This crying wolf crap from the left is getting old. Any agency head that cant cut a budget by 2 or 3 percent has no business being in that position.

3 Agrees | 2 Disagrees | Report Abuse »

judeye

Mar-07-13 8:02 AM

"The bill will raise taxes on individual incomes over $400,000 and household incomes over $450,000, on investment profits and dividends, and on the portion of estates that exceeds $5 million."

Oh..is this this the tax increase you spoke of? Wow..like it really will affect most of us huh? Yet, these millionaires still pay a lower tax rate than I do (and lower than MOST working Americans) They still benefit from tax loopholes that allow them to put their money overseas, take huge bonuses while their workers pay goes down, and enjoy paying little to no taxes on many of their investments.

Meanwhile, the income disparity in this country is growing wider each day. (why don't you google it to see for yourself)

Take a look at the DOW..highest EVER.

Great Job Socialist President!!!!

I making money as are all other investors.

0 Agrees | 5 Disagrees | Report Abuse »

judeye

Mar-07-13 8:05 AM

jaycee...show me please where these "cuts" are not really cuts but just growth reductions?

I could have sworn that people were getting pink slipped.

Have you looked at what the sequester will cut? You really think all of these cuts are just growth reductions?

Show me where you got that info..I will read it. First time I have heard anyone say that....

1 Agrees | 4 Disagrees | Report Abuse »

DarkStar

Mar-07-13 8:40 AM

Dcronlg,

Well one of the wars is over and the other is greatly scaled back and yet spending Obama has spent far more every single year in office then Bush's highest spending year.

Also it's ironic to see you blame the Bush tax cuts since when they were about to expire you almost wet yourself over it you were so angry at the GOP.

3 Agrees | 1 Disagrees | Report Abuse »

DarkStar

Mar-07-13 8:50 AM

judeye,

Well the GOP comprimised and allowed Obama and the dems to raise taxes "on the rich" and in return they promised to cut spending, but instead Obama and company turned around and their idea of "cuts" was further tax increases.

Are you willing to be consistant and call out the left for their outright lies and dishonesty?

As for the pink slips, that's easy to explain. It's simply a matter of this Administration has the control over how the cuts are implimented so of course they are going to insure it's done so as to maximize the appearance that cuts in spending are horrific while at the same time ising it to benifit them and their party politically.

3 Agrees | 1 Disagrees | Report Abuse »

jaycee

Mar-07-13 5:46 PM

Total federal spending in 2012 was $3.53 trillion. The President’s budget request for 2013 was $3.59 trillion, an increase of $68 billion (about 2%). Under sequestration, total federal spending in 2013 will be $3.55 trillion, an increase of only $25 billion (a little less than 1%). Did you catch that? Under sequestration, total federal spending goes up, just by less than it would have gone up without sequestration. This is what the Narrative calls a “cut” in spending!.

Read it for yourself at......*******reason****/blog/2013/03/06/sequester-schmequester-just-so-long-as-t

4 Agrees | 0 Disagrees | Report Abuse »

MikeDavis

Mar-07-13 6:07 PM

Judeye, how can you be angry at congress for the extra two weeks vacation and not be at all bothered by the taxpayer funded weekenders the Obama family enjoys (it seems) once a month? A quick trip for Michelle to Aspen while Barry runs down to Florida to play golf with Tiger? What's a couple of million in taxpayer dollars to them? It's just one of the perks of being the "royal family"....right? And there's Dc with his usual church lady rant. Get a new schtick, that one is tired. Blame Bush? Still? It's been five years dipstick, when is it Obama's lack of leadership and congresses absolute ineptitude? Meanwhile Barry and Michelle are planning their next getaways on the taxpayer credit card. But that's just fine to your Barry a.s.s. kissing self, isn't it?

2 Agrees | 3 Disagrees | Report Abuse »

concerned

Mar-07-13 6:56 PM

50% of the cuts where defense 50% are domestic obama has the power to direct what items to cut so he needs to stop whining he would not make volintary cuts so the cuts where made for him!

2 Agrees | 1 Disagrees | Report Abuse »

DarkStar

Mar-08-13 7:33 AM

"...obama has the power to direct what items to cut ....."

That is the exact point, and instead of using that authority to make sure the cuts don't cause any real issue he is using it and create misery and drama so he can score political points.

4 Agrees | 1 Disagrees | Report Abuse »

jaycee

Mar-08-13 6:47 PM

well I'll give it up to Judeye. no matter how many facts you put up to her, she ignores them or spins them and continues to be memorized by this freakin' clown. It never ceases to amaze me how blinded the libs are to all this nonsense. He is deliberately trying to take this country down so that he can "fundamentally transform" America to his socialistic utopia. The other sad and pathetic thing is that the media is standing down and refusing to report it. God help us!!!

2 Agrees | 0 Disagrees | Report Abuse »

225522

Mar-13-13 11:28 AM

Everyone pay 10% or 20% and be done with it. The so called RICH will still contribute the most to tax revenue. The poor people ( Jesse Jackson et. al. ) will stil scream it is unfair. Hard work gets rewarde amd sometomes not...Too bad that's life. In the U. S. a person only has equal access to any and all opportunities ...not equal everthing with everyone else. Equal? Lemme be the Bill's quarterback!!Well on second thought NO.

0 Agrees | 0 Disagrees | Report Abuse »

Showing 22 of 22 comments
 
 

Post a Comment

You must first login before you can comment.

*Your email address:
*Password:
Remember my email address.
or
 
 

 

I am looking for:
in:
News, Blogs & Events Web