Friday, November 30, 2012

Obama's Plan for the Fiscal Cliff is a BAD JOKE (3 Videos 11-29-12)

Mitch McConnell, the Senate Republican leader, says he “burst into laughter” Thursday when Treasury Secretary Tim Geithner outlined the administration proposal for averting the fiscal cliff. He wasn’t trying to embarrass Geithner, McConnell says, only responding candidly to his one-sided plan, explicit on tax increases, vague on spending cuts. 
Geithner’s visit to his office left McConnell discouraged about reaching a “balanced” deal on tax hikes and spending reductions designed to prevent a shock to the economy in January. “Nothing good is happening” in the negotiations, McConnell says, because of Obama’s insistence on tax rate hikes for the wealthy but unwillingness to embrace serious spending cuts. Geithner suggested $1.6 trillion in tax increases, McConnell says, but showed “minimal or no interest” in spending cuts. When congressional leaders went to the White House three days after the election, Obama talked of possible curbs on the explosive growth of food stamps and Social Security disability payments. But since Geithner didn’t mention them, those reductions appear to be off the table now, McConnell says.
Read the full story HERE and there are 2 videos below that give insight to What all this Means.

Speaker Boehner:

Special Report discuss the Geithner Proposal:

Judge Napolitano on Republican willing to back off their Tax Pledge:

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1 comment:

newark hawk said...

WTF is a "fiscal cliff"?

Silly me, I always thought $16 trillion of national debt and $87 trillion of unfunded entitlements was pretty dangerous stuff.

But now all of a sudden we face a "fiscal cliff"?

Wow, that must be really, really, really dangerous.