Monday, April 18, 2011

Steve Peters Commentary -#2826 - Steve Peter's Op Ed - Daily Progress (2) GOP Wave Reshapes Nation's Agenda State by State - ABC News (3) Obama's $2 Trillion Stealth Tax Hike - James Pethokoukis - Reuters

Op Ed: by Steve Peters - Daily Progress - The American people get it, and through the Tea Party movement, (Harry Reid says they are fading and irrelevant) are demanding that the federal government cut spending significantly. We do not have a revenue problem, we have a spending problem. The government, which historically collected and spent about 19 percent of our gross domestic product, is headed past 25 percent, unless they cut spending immediately. American voters went to the polls and "graded" the Democrats, delivering to them a big “F.” We are now seeing the consequences of the shellacking Obama’s party took. Obama has not only failed to lead on the debt issue, but flip-flopped on multiple occasions. With no real presidential leadership, the terms of this debate have been set by Paul Ryan and the GOP on how much we should reduce deficit spending. The GOP plan reduces spending by $6.2 trillion, removes $2.5 trillion of new taxes proposed by Obama, bends the cost curve down on Medicare/Medicaid, and significantly reduces the drag on our economy, by repealing ObamaCare. Ryan block-grants Medicare/Medicaid dollars to states, so they can find more efficient ways to better deliver medical care.  Read more.......

GOP Wave Reshapes Nation's Agenda State by State - ABC News - State by state, Republicans are moving at light speed on a conservative agenda they would have had no hope of achieving before the big election gains of November. The dividends are apparent after only a few months in office, and they go well beyond the spending cuts forced on states by the fiscal crunch and tea party agitation. Republican governors and state legislators are bringing abortion restrictions into law from Virginia to Arizona, acting swiftly to expand gun rights north and south, pushing polling-station photo ID laws that are anathema to Democrats and taking on public sector unions anywhere they can.  All this as Democrats find themselves cowed or outmaneuvered in statehouses where they once put up a fight. In many states, they are unable to do much except hope that voters will see these actions as an overreach by the Republicans they elected — an accidental revolution to be reversed down the road. A tug to the right was in the cards ever since voters put the GOP in charge of 25 legislatures and 29 governors' offices in the 2010 elections. That is turning out to be every bit as key to shaping the nation's ideological direction as anything happening in Washington.  Read more..........  SP: The voters in 2009 and 2010 took many state purse strings away from the Democrats and their union supporters, putting the Republicans in charge of a strong majority of the state legislatures/governorships. Republicans were asked to clean up the mess after the public employee union's large binge at the our tax troughs. Isn't it ironic that the Democrats that created these fiscal crisis think any input from them to correct the problem is warranted. It is a little like the arsonist who wants to direct the firefighters on how to put out the fire, and gets upset when he is ignored.

Obama's $2Trillion Stealth Tax Hike - James Pethokoukis, Reuters - Talk about fuzzy math. President Obama claims higher taxes will account for a mere third — $1 trillion — of his proposed $3 trillion debt reduction over 12 years, not counting less interest expense. Wrong. The actual number is probably around 50 percent of $4 trillion in savings — some $2 trillion — and could be closer to 60 percent. (More details below.) Instead of offering a template for a Grand Compromise, Obama seems to have created a Grand Obfuscation.  This is just one example among many that shows how Obama’s much-hyped new budget plan is actually neither new nor a budget nor a plan.......If you’re keeping score, what Obama is actually proposing is $1 trillion in new taxes on wealthier Americans (and small businesses) and $1 trillion in higher tax revenues by reducing tax breaks and subsidies for a total of $2 trillion in new taxes over 12 years. That means total debt reduction, not counting interest, would be $4 trillion, 50 percent of which would come from higher taxes. The econ team at Goldman Sachs ran a similar analysis and found that 56 percent of Obama savings over ten years could come from higher tax revenue.  Read more........ SP: We report you decide, if the president's Wednesday speech was anything more than a campaign speech about class warfare with very little substance or detail. Here is another good comparison between Obama and Ryan's plans.

No comments:

Post a Comment