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share save 120 16 The Morning Flap: January 3, 2013

Boehner and Cantor The Morning Flap: January 3, 2013

These are my links for January 2nd through January 3rd:

  • Does Eric Cantor’s no vote on the fiscal cliff bill spell trouble for John Boehner? – It’s rare for the top two members of the House leadership to split on an important vote. Bob Michel, the hapless leader of the House Republicans during a long period in the minority, and Newt Gingrich voted differently on the 1990 “read my lips” tax increase. They split again over the 1994 assault weapons ban.Even less common is a House speaker and majority leader going their separate ways on big-ticket legislation. The last major example is when the Democratic-controlled House debated funding President George W Bush’s surge in Iraq. House speaker Nancy Pelosi allowed the measure to proceed to the floor and voted no. House majority leader Steny Hoyer voted yes.House speakers typically don’t even vote at all unless it is necessary to break a tie. So it may have been a clarifying moment when speaker of the House John Boehner and House majority leader Eric Cantor parted ways on the deal that ended the long national nightmare known as the fiscal cliff. Boehner voted for the bipartisan agreement negotiated between Vice-President Joe Biden and Senate Minority Leader Mitch McConnell; Cantor breathed the final moments of life into the opposition.
  • Fiscal Cliff Deal Only Whetted Obama’s Appetite for More Taxes – Taxes: Anyone who thinks the fiscal cliff deal will end President Obama’s soak-the-rich campaign isn’t paying attention. Even before the ink had dried on his $620 billion tax hike, Obama was talking up his desire for more.Obama hinted at this on Sunday on “Meet the Press,” when he told David Gregory that “you are not only going to cut your way to prosperity” and that “one of the fallacies” was that “deficit reduction is only a matter of cutting programs.”But as the fiscal cliff agreement looked increasingly likely, Obama started talking more specifically about additional tax hikes. On Monday, he told a White House rally that “revenues have to be part of the equation in turning off the sequester.”

    Translation: If Republicans want to prevent devastating defense cuts from automatically kicking in two months from now, they’ll have to choke down another round of tax hikes.

    And he made it clear any future deficit cuts will have to include still more new taxes. “If Republicans think that I will finish the job of deficit reduction through spending cuts alone,” he said, “then they’ve got another thing coming.”

  • Nothing Is Certain Except More Debt and Taxes – Whatever ultimately emerges from the fiscal-cliff negotiations over the past 48 hours, the country will survive. But the damage can’t be undone. Taxes are going up for all working Americans. And so is the size of government.Businesses have been waiting to see whether a second Obama administration will encourage the economy. During the fiscal-cliff negotiations, however, the president made clear that his goal isn’t to get business going again but instead to expand government and redistribute income. He offered no real spending cuts and instead used the year-end deadline to divide America into classes—to the point of campaigning on New Year’s Eve against higher earners. Though the president talks about fairness, his policies penalize profit and investment. This hurts aspiring Americans more than it hurts those who have already made it.The deal that emerged from the Senate early Tuesday morning is being sold as a tax cut for the middle class, but the expiration of the two-percentage-point payroll tax holiday means that working Americans’ take-home pay will drop. The bill reduces the value of tax deductions for upper incomes and, with the new open-ended 3.8% Medicare tax that was enacted under ObamaCare, income-tax rates on families and small business owners earning over $450,000 have been pushed above 44%.
  • Flap’s Blog @ Flap Twitter Daily Digest for 2013-01-02 – Flap’s Blog – FullosseousFlap’s Dental Blog – Flap’s Blog @ Flap Twitter Daily Digest for 2013-01-02 #tcot
  • My Daily Twitter Digest for 2013-01-02 – Locum Tenens (Temporary) Dentist – Gregory Cole, D.D.S. – My Daily Twitter Digest for 2013-01-02
  • Dems will need new game plan to score tax revenue – The fiscal cliff deal handed Democrats a tax victory years in the making, but it also means the party will need a new playbook for the budget battles that lie ahead.That’s because many Democrats readily acknowledge that they’ve exhausted their ability to raise taxes on the richest Americans by jacking up their rates.The historic tax agreement passed by Congress this week raises rates on top earners from 35 percent to 39.6 percent. Meanwhile, provisions from the 2010 health care law kicked in Jan. 1, increasing rates on investment income from 15 percent to almost 24 percent for the most affluent taxpayers.

    Winning these levies was hard enough. With Republicans licking their wounds in the wake of the fiscal cliff deal, Democrats know that politically speaking, there’s virtually no way to keep increasing marginal tax rates.

    “This does settle the issue of rates for individuals,” Rep. Allyson Schwartz (D-Pa.) told POLITICO. “That’s good. That certainty and predictability is one of the gains” of the fiscal cliff legislation.

    Michigan Rep. Sander Levin, the top Democrat on the tax-writing Ways and Means Committee, agreed. When asked whether more rate increases are in the offing, he responded, “I don’t foresee that.”

  • Al Jazeera acquires Current TV, will rebrand channel – LA Observed – Al Jazeera acquires Current TV, will rebrand channel – LA Observed #tcot
  • Capitol Alert: California Lt. Gov. Gavin Newsom’s cable TV show going off air – Capitol Alert: California Lt. Gov. Gavin Newsom’s cable TV show going off air #tcot
  • Capitol Alert: California Lt. Gov. Gavin Newsom’s cable TV show going off air – Capitol Alert: California Lt. Gov. Gavin Newsom’s cable TV show going off air #tcot
  • Phillip Klein: Past the ‘cliff,’ debt ceiling promises a more brutal fight | WashingtonExaminer.com – Phillip Klein: Past the ‘cliff,’ debt ceiling promises a more brutal fight | #tcot
  • Al Jazeera acquires Current TV, will rebrand channel – LA Observed – Al Jazeera acquires Current TV, will rebrand channel – LA Observed #tcot
  • Capitol Alert: California Lt. Gov. Gavin Newsom’s cable TV show going off air – Capitol Alert: California Lt. Gov. Gavin Newsom’s cable TV show going off air #tcot
  • Al Jazeera acquires Current TV, will rebrand channel – LA Observed – Al Jazeera acquires Current TV, will rebrand channel – LA Observed #tcot
  • Phillip Klein: Past the ‘cliff,’ debt ceiling promises a more brutal fight | WashingtonExaminer.com – Phillip Klein: Past the ‘cliff,’ debt ceiling promises a more brutal fight | #tcot
  • Capitol Alert: California Lt. Gov. Gavin Newsom’s cable TV show going off air – RT @CapitolAlert: California Lt. Gov. Gavin Newsom’s cable TV show going off air
  • Al Jazeera acquires Current TV, will rebrand channel – LA Observed – Al Jazeera acquires Current TV, will rebrand channel #tcot
  • Phillip Klein: Past the ‘cliff,’ debt ceiling promises a more brutal fight | WashingtonExaminer.com – Past the ‘cliff,’ debt ceiling promises a more brutal fight #tcot
  • Tim Carney: How corporate tax credits got in the ‘cliff’ deal | WashingtonExaminer.com – Tim Carney: How corporate tax credits got in the ‘cliff’ deal | #tcot
  • Past the ‘cliff,’ debt ceiling promises a more brutal fight – As a weary Washington assesses the “fiscal cliff” deal, a debt-ceiling showdown looms on the horizon. There are a number of reasons to believe that the standoff — expected sometime in February or March — will be even more difficult to resolve than the last debt-ceiling impasse in the summer of 2011.In the 2011 showdown, House Speaker John Boehner established the principle that every dollar increase in the debt limit would have to be accompanied by a dollar cut in government spending. The final deal allowed for at least $2.1 trillion in debt-limit increases offset by promised spending cuts and did not raise taxes.
  • McConnell: Fiscal cliff deal not great, but it shields Americans from tax hike – The first day of a new Congress always represents a fresh start. This year, it also presents a perfect opportunity to tackle the single-greatest challenge facing our nation: reining in the out-of-control federal spending that threatens to permanently alter our economy and dim the prospects and opportunities of future generations of Americans.Earlier this week, I helped negotiate an imperfect solution aimed at avoiding the so-called “fiscal cliff.” If I had my way taxes would not have gone up on anyone, but the unavoidable fact was this if we had sat back and done nothing taxes would have gone up dramatically on every single American, and I simply couldn’t allow that to happen.By acting, we’ve shielded more than 99% of taxpayers from a massive tax hike that President Obama was all-too willing to impose. American families and small businesses that would have seen painfully smaller paychecks and profits this month have been spared. Retirement accounts for seniors won’t be whittled down by a dramatic increase in taxes on investment income. And many who’ve spent a lifetime paying taxes on income and savings won’t be slammed with a dramatically higher tax on estates.

    Was it a great deal? No. As I said, taxes shouldn’t be going up at all. Just as importantly, the transcendent issue of our time, the spiraling debt, remains completely unaddressed. Yet now that the President has gotten his long-sought tax hike on the “rich,” we can finally turn squarely toward the real problem, which is spending.

    Predictably, the President is already claiming that his tax hike on the “rich” isn’t enough. I have news for him: the moment that he and virtually every elected Democrat in Washington signed off on the terms of the current arrangement, it was the last word on taxes. That debate is over. Now the conversation turns to cutting spending on the government programs that are the real source of the nation’s fiscal imbalance. And the upcoming debate on the debt limit is the perfect time to have that discussion.

    We simply cannot increase the nation’s borrowing limit without committing to long overdue reforms to spending programs that are the very cause of our debt.

  • Tim Carney: How corporate tax credits got in the ‘cliff’ deal | WashingtonExaminer.com – Tim Carney: How corporate tax credits got in the ‘cliff’ deal | #tcot
  • Caps on class sizes could be eliminated in Jerry Brown’s budget – latimes.com – Caps on class sizes could be eliminated in Jerry Brown’s budget #tcot
  • Weintraub: California’s quality of life is a mixed bag | percent – News – The Orange County Register – California’s quality of life is a mixed bag #tcot
  • How corporate tax credits got in the ‘cliff’ deal – The “fiscal cliff” legislation passed this week included $76 billion in special-interest tax credits for the likes of General Electric, Hollywood and even Captain Morgan. But these subsidies weren’t the fruit of eleventh-hour lobbying conducted on the cliff’s edge — they were crafted back in August in a Senate committee, and they sat dormant until the White House reportedly insisted on them this week.The Family and Business Tax Cut Certainty Act of 2012, which passed through the Senate Finance Committee in August, was copied and pasted into the fiscal cliff legislation, yielding a victory for biotech companies, wind-turbine-makers, biodiesel producers, film studios — and their lobbyists. So, if you’re wondering how algae subsidies became part of a must-pass package to avert the dreaded fiscal cliff, credit the Biotechnology Industry Organization’s lobbying last summer.
  • White House eases path to residency for some illegal immigrants – The Obama administration eased the way Wednesday for illegal immigrants who are immediate relatives of American citizens to apply for permanent residency, a change that could affect as many as 1 million of the estimated 11 million immigrants unlawfully in the U.S.A new rule issued by the Department of Homeland Security aims to reduce the time illegal immigrants are separated from their American families while seeking legal status, immigration officials said.Beginning March 4, when the changes go into effect, illegal immigrants who can demonstrate that time apart from an American spouse, child or parent would create “extreme hardship,” can start the application process for a legal visa without leaving the U.S.

    Once approved, applicants would be required to leave the U.S. briefly in order to return to their native country and pick up their visa.

  • Clinton discharged from hospital after treatment for blood clot – The Washington Post – RT @washingtonpost: Clinton discharged from hospital
  • Christie Craving Pork-Filled Sandy Bill | The Weekly Standard – RT @DRUDGE_REPORT: STORM BILL STUFFED WITH PORK…
  • Video: Chris Christie Melts Down Over Pork-Laden Sandy Relief Bill – Video: Chris Christie Melts Down Over Pork-Laden Sandy Relief Bill #tcot
  • Boehner tells GOP he’s through with one-on-one Obama talks – The Hill – RT @philipaklein: RT @thehill: Boehner tells GOP he’s through with one-on-one negotiations with Obama
  • The Obesity Paradox: Weigh More and Live Longer – Flap’s Blog – The Obesity Paradox: Weigh More and Live Longer #tcot
  • Capitol Alert: Unlicensed California drivers have high fatality rates – Capitol Alert: Unlicensed California drivers have high fatality rates #tcot
  • Patti Page R.I.P – Flap’s Blog – FullosseousFlap’s Dental Blog – Patti Page R.I.P. #tcot
  • Capitol Alert: Unlicensed California drivers have high fatality rates – Unlicensed California drivers have high fatality rates #tcot
  • Untitled (http://mashable.com/2013/01/02/fiscal-cliff-calculator/) – RT @mashable: This Calculator Shows How Much Fiscal Cliff Deal Will Cost You
  • Why the Obama tax hikes have only just begun – But what leverage will Obama have to make good on his tax-hike threats? As The Wall Street Journal editorial page notes today, “The President has had unusual leverage over Republicans because he just won re-election and because taxes were going to go up even if they did nothing.”One potential Obama bargaining chip is the sequester, particularly the $500 billion in defense cuts that many GOPers loathe. So perhaps Obama can offer to turn off the defense cuts in exchange for $500 billion from limiting tax breaks for the rich. And then maybe another $300 billion in corporate tax hikes for agreeing to change how Social Security benefits are calculated. Many scenarios are possible. What’s for sure is that the Obama desires vastly higher taxes to pay for his expanded welfare state. Desires and needs them. And it’s now Democrat economic theology that tax rates could return to pre-Reagan levels without hurting growth.Tax hikes? Obama is only just getting started.
  • Hillary Angst – The Daily Beast – RT @kausmickey: Something very off (Mooniesh) about this tone. Tina Brown is an adult, right? #arthurschlesingerblu …
  • Top Blogger Andrew Sullivan Wants Your Cash – Maybe he will find Trig’s mother? RT @mashable: Top Blogger Andrew Sullivan Wants Your Cash #tcot
  • Grimm may oppose Speaker Boehner – POLITICO.com – RT @politico: Rep. Michael Grimm may oppose Speaker Boehner:
  • Day By Day January 2, 2013 – The Party Line – Flap’s Blog – Day By Day January 2, 2013 – The Party Line #tcot
  • Study: Smoking Does NOT Relieve Stress – Study: Smoking Does NOT Relieve Stress
  • Flap’s Dentistry Blog: The Morning Drill: January 2, 2013 – The Morning Drill: January 2, 2013
  • Primary care doctors growing scarce – SFGate – California Primary Care Doctors Growing Scarce #tcot
  • Capitol Alert: California gets federal approval to close Healthy Families – California gets federal approval to close Healthy Families #tcot
  • 10 stories to watch in California politics for 2013 | news10.net – 10 stories to watch in California politics for 2013 #tcot
  • The California Flap: January 2, 2013 – Flap’s California Blog – The California Flap: January 2, 2013
share save 120 16 The Morning Flap: January 3, 2013

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share save 120 16 Flaps Links and Comments for August 26th through August 29th

These are my links for August 26th through August 29th:

share save 120 16 Flaps Links and Comments for August 26th through August 29th

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share save 120 16 Flaps Links and Comments for August 2nd through August 4th

These are my links for August 2nd through August 4th:

share save 120 16 Flaps Links and Comments for August 2nd through August 4th

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share save 120 16 Flaps Links and Comments for July 28th on 20:53

These are my links for July 28th from 20:53 to 20:57:

  • Ron Paul: "Default Is Coming" – Rep. Ron Paul (R-TX) explains why default by inflation is worse than default by not raising the debt ceiling.

    Rep. Paul also talks about how the devaluing of the U.S. has led to record prices in gold bullion.

    "Default is coming. The only argument that's going on now is how to default, not send the checks out or just print the money. In all countries our size, they always print the money," Paul said.

    "They're going to raise the debt limit, and then they're going to print the money, and then they'll default by inflation, and that's much more dangerous than facing up to the facts of what's happening today."

    ======

    Go and watch the video.

  • We’ve Been Played for Saps, Folks: Boehner Bill Will Become Reid Bill – So Dingy Harry can take the Boehner bill and tweak it and rewrite it, make additions to it, take some things out of it, play with it however he wants, and get enough votes from Democrats since it becomes the Reid bill, and then it gets sent back to Boehner in the House looking nothing like his bill, but the rationale for passing the Boehner bill in the House is we've got to do this, the time is up, we're not going to get blamed. So if Reid monkeys around with the bill that he gets from Boehner, and it passes in the Senate, with whatever changes that are not favorable to us, of course, they throw it back in Boehner's lap, and then the pressure is going to be back on Boehner. Okay, do you sign the Reid bill? Do you pass it? Do you get your guys to vote for it and send it to Obama, basically a Democrat bill. That is what a lot of people — and I sign on to the theory, too — this is one of the traps that's being set. The Boehner bill is essentially being used to be a foundation for a nonexistent as of yet Reid bill. And thereby the Boehner bill becomes the Reid bill, therefore Democrat bill all in the absence of an Obama plan. No Obama plan at all in this.
    There's no Obama bill. There's nothing set down on paper. So the Reid bill will become the Obama bill.

    ======

    Rush is correct.

    Read it all

  • Debt ceiling vote postponed by Boehner, who will try again Friday – Speaker John Boehner postponed the planned House vote on a debt-limit increase late Thursday night, casting new doubt on Congress’ ability to avert a default and further exposing a deep philosophical divide in the Republican Conference.

    Four-and-a-half hours after the vote was supposed to begin on the House floor, Republicans announced they would start again in the morning, but the end game remains unclear on this trillion-dollar package. The House Rules Committee was expected to meet later Thursday night to issue a rule that would allow the GOP to bring a new bill to the floor quickly on Friday if the final votes can be secured.

    ======

    I understand there will be a sweetener added tomorrow, the Balance Budget Amendment in some form.

    It might be best to just let the Boehner Plan die, so that Reid will not be able to gut it and return it to the House.

share save 120 16 Flaps Links and Comments for July 28th on 20:53

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share save 120 16 Flaps Links and Comments for July 26th on 13:45

These are my links for July 26th from 13:45 to 14:54:

  • Is US Debt Downgrade Inevitable? – Democrats and Republicans will present their own version of budget cuts later in the day on Monday, but is the estimated $2.7 trillion in cuts being proposed enough to avoid a credit rating downgrade?

    Credit watchdogs at Standard & Poor’s have warned that unless $4 trillion in cuts are made, with long term sustainable fiscal policies to balance the budget, the US will lose its coveted AAA status within 90 days. Moody’s said the same thing this month, only gave the US 12 to 18 months to get its financial house in order before getting dropped from the triple-A list.

    US government debt is considered the safest in the world. A lose to triple A status would cause every money market and Treasury bond fund to change its covenants that, until now, require holding AAA rated debt only.

    “You’ll want to buy stock in a printing press company because if the US loses its triple A status, funds will be printing millions of notices to shareholders explaining the sudden and extraordinary change in its investment profile away from triple A debt and allowing for double A in their portfolios,” says Ron Weiner, president and CEO of RDM Financial Group in Westport, Conn, a $600 million asset manager.

    While the market is not pricing in a default on US debt obligations, it is definitely pricing in the likelihood of a downgrade.

    ======

    Looks like it….

  • Great news: Downgrade could come as soon as Friday – Barack Obama has spent the last several weeks warning that a failure to raise the debt ceiling by the “drop-dead date” of August 2nd would cause a ruinous downgrade of Treasury bonds and an economic disaster for the US.  However, the downgrade may come sooner than that, because the debt ceiling is actually a secondary condition to the ratings agencies.  The problem, as they see it, is not that America can’t pay its debts next month, but that America has grown its debt to such a degree that we can’t pay them in the long run without serious restructuring of the federal government — and this administration refuses to consider it:

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    Read it all

  • Debt-Ceiling Chicken by Thomas Sowell – The big news, as far as the media are concerned, is the political game of debt-ceiling chicken that is being played by Democrats and Republicans in Washington. But, however much the media are focused on what is happening inside the Beltway, there is a whole country outside the Beltway — and the time is long overdue to start thinking about what is best for the rest of the country, not just for right now but for the long haul.

    However the current debt-ceiling crisis turns out, the current economic turmoil in financial markets around the world should cause some serious thoughts about the long run, and about the whole idea of a national-debt ceiling.

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    Read it all

  • Leadership by Default – They used to say that Richard Nixon had a “secret plan” in the 1968 presidential campaign to end the Vietnam War. Pres. Barack Obama outdid Nixon with a secret plan to control the deficit.

    He kept telling us of all the virtues of his plan. It was balanced, responsible, courageous, and fair. It was just very, very secret.

    Obama favored a $4 trillion “grand bargain” that now looks dead. It allegedly contained $3 trillion in cuts and $1 trillion in new revenues over ten years. But no one could learn with any certainty what the specific new cuts were, or the specific new revenues. They were the great mystery at the heart of the debt-limit debate.
    How extraordinary is the spectacle of the president of a country beset with a debt crisis who claims to have a big, game-changing plan to alleviate it — that he keeps all to himself. He’d whisper it in the ear of House Speaker John Boehner behind closed doors in the White House, but the erstwhile champion of transparency didn’t dare make it public.

    Why was the president who rode into the White House on a wave of overexposure, who wrote two memoirs and is constantly on TV, so shy and retiring about this one matter? Few things would be more galvanizing in the nation’s budgetary politics than a liberal Democrat breaking ranks on entitlements. It would make possible changes heretofore unthinkable, and partly redeem Obama’s promise of post-partisan government.

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    Yeah, pretty ridiculous for the transparency President

share save 120 16 Flaps Links and Comments for July 26th on 13:45

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