Showing posts with label debt ceiling. Show all posts
Showing posts with label debt ceiling. Show all posts

Monday, May 2, 2016

In 6 Months Since Budget Deal: Debt Up More Than $1 Trillion

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President Barack Obama signing the Bipartisan Budget Act on Monday, Nov. 2, 2015. (AP Photo/Andrew Harnik)

(CNSNews.com) - In the six months that have passed since then-retiring House Speaker John Boehner and Senate Majority Leader Mitch McConnell cut a budget deal with President Barack Obama that suspended the legal limit on the federal debt until March 15, 2017, the federal debt has increased by more than $1 trillion.

The Senate passed “The Bipartisan Budget Act of 2015” with a vote held in the early morning hours of Friday, Oct. 30. Obama signed it on Monday, Nov. 2.

At the close business on Oct. 30, 2015, the total federal debt was $18,152,981,685,747.52. By the close of business on April 28, 2016—the latest date for which the Treasury has published the number--the total federal debt was $19,186,207,744,589.55.

That is an increase of $1,033,226,058,842.03.

On Monday, Nov. 2--the day Obama signed the Bipartisan Budget Act and thus suspended the debt limit--the debt took a big leap. It closed that day at $18,492,091,120,833.99—up $339,109,435,086.47 from its $18,152,981,685,747.52 closing on Friday, Oct. 30.

Prior to that, the part of the federal debt subject to the then-legal limit of $18,113,000,080,959.35 had been frozen just below that limit for more than seven months (from March 13, 2015 through Oct. 30, 2015), during a “debt issuance suspension period” that Treasury Secretary Jacob Lew had declared on March 13, 2015, to push back the date at which the debt limit would be exceeded.

In a July 29, 2015, letter to Speaker Boehner, Lew indicated he was planning to extend the then-ongoing debt issuance suspension period, and explained its basic operations.

“On March 16, 2015, the outstanding debt of the United States reached the statutory limit,” Lew wrote. “As a result, Treasury had to begin employing extraordinary measures to continue to finance the government on a temporary basis. These measures, which we have used in previous debt limit impasses, include a debt issuance suspension period with respect to investment of the Civil Service Retirement and Disability Fund and suspension of the daily reinvestment of Treasury securities held by the Government Securities Investment Fund of the Federal Employees’ Retirement System Thrift Savings Plan. The debt issuance suspension period currently lasts until July 30. Tomorrow, I expect to extend the debt issuance through October 30.”

According to the official summary of the law, Section 901 of the “Bipartisan Budget Act,” which Congress passed on Oct. 30 and Obama signed Nov. 2, provided that the “public debt limit is suspended through March 15, 2017.”

The $1,033,226,058,842.03 increase in the debt in the six months since then equals approximately $6,828 for each of the 151,320,000 persons whom the Bureau of Labor Statistics estimated had a full or part-time job in the United States as of this March.

COMMENTS

Wednesday, January 27, 2016

Debt Up $70,612.91 Per Household in Obama’s First 7 Years

$8,314,529,850,339.07:

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(AP Photo/Charles Dharapak)

(CNSNews.com) - The debt of the federal government increased by $8,314,529,850,339.07 in President Barack Obama’s first seven years in office, according to official data published by the U.S. Treasury.

That equals $70,612.91 in net federal borrowing for each of the 117,480,000 households that the Census Bureau estimates were in the United States as of September.

During President George W. Bush’s eight years in office, the federal debt increased by $4,899,100,310,608.44, according to the Treasury. That equaled $44,104.65 in net federal borrowing for each of the 111,079,000 households that, according to the Census Bureau, were in the country as of Jan. 20, 2009, the day that Bush left office and Obama assumed it.

In the fifteen years from the beginning of Bush’s first term to the end of Obama’s seventh year in office, the federal debt increased $13,213,630,160,947.51.

That $13,213,630,160,947.51 increase in the debt during the Bush-Obama years equals $112,219.57 for each of the 117,748,000 households that were in the country as of September.

When Bush took office on Jan. 20, 2001, the federal debt was 5,727,776,738,304.64. When Obama took office eight years later, on Jan. 20, 2009, the federal debt was 10,626,877,048,913.08.

As of Jan. 20, 2016, when Obama completed his seventh year in office, the federal debt was $18,941,406,899,252.15.

COMMENTS

Saturday, December 19, 2015

Democrat Leaders Dance, Gloat, Declare Speaker Paul Ryan ‘Gave Away The Store’


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by NEIL MUNRO18 Dec 2015472

Democratic leaders are unanimous in declaring a complete victory over House Speaker 

Rep. Paul Ryan (R-WI)

58%

 and his close allies, who wrote the $1.1 trillion omnibus budget without asking House conservatives for any input — or even for some public objections to help their closed-door negotiations.

The Democrats’ victory, and Republican Ryan’s defeat, was garishly displayed when his omnibus got more Democratic votes in the House and in the Senate than it got Republican votes.

“I said I would not accept a lot of [conservative] ideological riders that were attached to a big budget deal,” President Barack Obama said Friday, at his end-of-year press conference. “And because of some terrific negotiations by the Democrats up on Capitol Hill and I think some pretty good work by our legislative staff here… it was a good win,” he said. “We met our goals,” he said.

In 2015, “we wanted to get rid of sequestration, we were able to do that,” gloated the Democrats’ leader in the Senate,

Sen. Harry Reid (D-NV)

2%

. “We wanted to make sure there is parity between defense and the middle class, we wanted to make sure that we kept these poison pills off the legislation… All three goals we had, we accomplished,” he said. Ryan’s omnibus deal “caps off a successful year for Senate Democrats,” he added.

“Well, if you would’ve told me this year that we’d be standing here celebrating the passage of an omnibus bill, with no poison pill riders, at higher [spending] levels above sequesters than even the president requested, I wouldn’t have believed it, but here we are,” Democratic Sen. Chuck Schumer told reporters shortly after the $1.1 trillion omnibus bill was passed.

“Almost anything, the Republican leadership in the Senate achieved this year, they achieved on Democratic terms… Democrats had an amazingly good year,” he declared.

Over in the House, the Democrats’ upbeat press conference began with laughter, according to the transcript.

(Leader Pelosi. Good morning, everyone. Good morning. I know you’re out there. I see you.

[Laughter]

Some of you, for the second time this morning – thank you for coming by. We’re very pleased to say that today, we delivered sweeping victories for hard-working American families. The Omnibus bill makes vital investments that will create jobs, strengthen our future and grow the paychecks of American people… We passed the best possible, under the circumstances, appropriations bill… the Republicans’ obsession with lifting the oil-export ban, they really gave away the store. Democrats were able to strip scores and scores of poison pills, destructive poison pills, some of which they had to have, which they ended up with not having… it is a monumental improvement… But again, we feel very, very good about what it is.… and thank the Speaker for his cooperation.


You can watch it all here, including the claim by Maryland 

Rep. Steny Hoyer (D-MD)

6%

, the Democrats’ deputy leader, that “this was an extraordinarily big victory.”

The Washington Post scored the results, and kindly give only 10 victories to the Democrats, and then four to Ryan.

At his press event, Ryan claimed a victory, but had little evidence to prove his point. “Today, the House came together to ensure our government is open and working for the American people,” he said in a statement. “This bipartisan compromise secures meaningful wins for Republicans and the American people, such as the repeal of the outdated, anti-growth ban on oil exports,” said the statement.

What did he trade to get that one win? — “scores and scores of poison pills, destructive poison pills, some of which they had to have, which they ended up with not having,” according to Pelosi.

So Ryan claimed “meaningful wins,” but very few of them.

“The legislation strengthens our military and protects Americans from terrorist threats, while limiting the overreach of intrusive government bureaucracies like the IRS and the EPA,” he said, weakly, before changing the subject by promising to do better in 2016. “Congress can now move into 2016 with a fresh start and a plan to return to regular order in order to better protect taxpayer dollars,” he claimed.

On the Michael Medved radio show, Ryan defended stepped up his claims — with a stronger adjective, but not more evidence.

We scored major policy wins for conservatives—for our country—in this bill. We advanced our principles. Did we advance all of our principles as far as we want to go? No, because we’re in divided government. But we did advance them in the right direction. So the way I look at these things, is take what you can get now, and then go fight for more later. And I think we’ve set ourselves up for more success in 2016.


Ryan didn’t tout one of the most unpopular inserts in the bill  — the GOP-approved legislation to import up to 200,000 extra foreign workers to take American’s blue-collar jobs.

Ryan’s main claim to success was the removal of the barrier to the export of crude oil — and to get that win, he gave up a huge list of conservative priorities.

“If you take a look at what’s in this bill, at what this bill actually does, it has a permanent lift—a permanent removal—of the ban on petroleum exports, on crude oil exports. That’s something we’ve been trying to do for 40 years in this country. Think of what we get by removing the ban. And the Obama administration, on oil exports—when America can export its oil, that means we can compete with OPEC. We can put OPEC out of the business of controlling the world’s oil markets. We can take Putin out of business with respect to selling oil and gas to his customers. We can create more jobs. We can become more independent. We can keep our prices low by having more control over the marketplace and create more jobs right here in America. It’s fantastic for our foreign policy. It’s really good for American jobs. And it’s something we’re actually getting done that we haven’t been able to do for decades.”


The commenters on his website tend to disagree with Ryan’s claim of “meaningful wins.”

“Ryan… just spit in the face of his constituents,” said one. “Why vote Republican? The Democrats claim this bill as a great victory for their priorities and party! Did Republicans cut the budget? NO,” said the next commenter.  “And they wonder why Trump is beating them. I suppose now that they’ve funded all of Obama’s priorities through 2018, they can play “Pretend Opposition Party” in 2016 and hope we’ll forget how they boned us,” said the next comment.

Many GOP politicians — especially the roughly 100 Representatives and Senators who voted against the deal — are very unhappy, including 

Sen. Tom Cotton (R-AR)

70%

, who posted this statement on his website:

A rotten process yields a rotten result, and this 2,000-page, trillion-dollar bill is rotten to its core, resulting from secret, backroom negotiations and getting dumped in the dead of the night on Americans with barely two days before the vote. Corporate lobbyists had a field day, but working Americans lost out. Take just one sordid example: this bill will quadruple the number of foreign guest-worker visas at a time when millions of Americans are still looking for full-time work and working-class wages remain stagnant.


At the Senate Democrats’ press conference, Schumer gloated at length and in great detail, unlike Ryan. He’s always worth listening to, if only because he’s expected to take over Sen. Reid’s leadership position in January 2017.

This bill is a great victory for the principles Democrats stand for. And as we look back in the year of the Senate, I think there have been three major trends, two of which are getting noticed, but the third is getting overlooked.

First, the Senate is getting things done.

Second, we are getting them done, because Democrats are not obstructing the same way Republicans did when they were in the minority, and those two points have been talked about in the media and elsewhere.

But third, the point that has been missed is that the bills were passing reflect Democratic values. We are getting, even though were in the minority, we are passing a program that we have been for all along. Today’s omnibus vote is a metaphor for that. The vote marks the end of the road the Democrats began mapping out last spring.

When Republicans made clear they were going to try to jam through partisan appropriation bills through the senate. [GOP] Senator [Mitch] McConnell thought he could jam the defense appropriation bill through, but Democrats stood firm and blocked him. Sen. McConnell said over and over again he wants to stay at sequestration levels. He said over and over again, that he wanted to put much more money into defense than into the nondefense. He didn’t get either of those, and we said the opposite, and we got what we wanted.  The relief from devastating cuts knowns as sequestration, the relief that was equal, no poison pill riders, the three principles Democrats laid out, Republicans opposed, are all laid out, are all in that bill today.

The bill were passing today, passes the test of Democratic values with flying colors and fits the framework we laid out years ago. And if you need any proof of this, look what happened on the floor a few minutes ago. Senator McConnell offered an amendment to strip out the omnibus portion of the bill, and a majority of Republicans voted for it. They don’t like it. But, our strategy worked. And the idea that we’d let people know that if the government was shut down, it would be because of their intransigence, maybe both Speaker Ryan and Leader McConnell understand that they couldn’t shut down the government and that meant they couldn’t make unreasonable demands and that meant we were going to have a budget with Democratic priorities.

But it’s not just the budget. This has happened over and over again, take the transportation bill. Democrats demanded a long-term bill with increased investments. Republicans wanted a short term bill with flat funding. What’d we get? A long term bill with increased investments.

How about the Export-Import bank? Senator McConnell said, no. Most of the Republicans said, no. We now have an export import bank.

How about when Republicans sought to hold hostage funding [in early 2015] for the Department of Homeland Security and Democrats banded together to fully fund the department and protect the president’s order on immigration. And finally, the bill that Ranking Member [Democrat Sen. Patty] Murray mentioned the Education Bill, loaded with Democratic values, attempts to switch the funding formula, attempts to do all of these other things, didn’t happen.

So, anything, almost anything, the Republican leadership in the Senate achieved this year, they achieved on Democratic terms.

By sticking together, as we have been, we’ve been unified under Harry Reid’s leadership, by fighting for the middle class, which we have focused on like a laser, while Republicans carry the water for the special interests; Democrats had an amazingly good year, as a minority party. We can only hope that our Republican colleagues will be as a cooperative minority, as we were this year, when Democrats take back the senate in 2016.

In comparison, Ryan only declared “This bipartisan compromise secures meaningful wins for Republicans and the American people, such as the repeal of the outdated, anti-growth ban on oil exports.”

“And I think we’ve set ourselves up for more success in 2016,” he says.

Thursday, December 17, 2015

AMERICA IN COMPLETE FREEFALL THXS PAUL RYAN

AP Photo/Evan Vucci

by STEPHEN K. BANNON & JULIA HAHN16 Dec 2015Washington D.C.3953

Rep. Paul Ryan (R-WI) 58%

Paul Ryan’s first major legislative achievement is a total and complete sell-out of the American people masquerading as an appropriations bill.

Too harsh, you say? Let the programs, the spending, and the implications speak for themselves.

(1) Ryan’s Omnibus Fully Funds DACA

Though much of the public attention has surrounded the President’s 2014 executive amnesty, the President’s 2012 amnesty quietly continues to churn out work permits and federal benefits for hundreds of thousands of illegal aliens. Paul Ryan’s bill funds entirely this 2012 executive amnesty for “DREAMers”—or illegal immigrants who came to the country as minors.

Specifically, Division F of Ryan’s omnibus bill contains no language that would prohibit the use of funds to continue the President’s unconstitutional program. Obama’s executive action, known as Deferred Action for Childhood Arrivals (DACA), has granted around 700,000 illegal aliens with work permits, as well as the ability to receive tax credits and federal entitlement programs. A recent GAO report documented how this illegal amnesty program for alien youth is, in large part, responsible for the illegal alien minor surge on our southern border.

In 2013, Paul Ryan said that it is his job as a U.S. lawmaker to put himself in the shoes of “the DREAMer who is waiting” and work to find legislative solutions to his or her problems.

(2) Ryan’s Omnibus Funds Sanctuary Cities

Five months ago, 32-year-old Kate Steinle was bleeding to death in her father’s arms. She was gunned down in broad daylight by a five-time deported criminal alien whose presence in the country was the direct result of San Francisco’s refusal to comply with U.S. immigration law—yet Paul Ryan’s omnibus rewards these lawless Sanctuary Cities with federal grants. Division B Title II of Ryan’s omnibus funds various grant programs for the Department of Justice (pages 167, 168, and 169) and contains no language that would restrict the provision of such grants to sanctuary jurisdictions.

In a Congressional hearing, Steinle’s father demanded Congressional action and recalled his daughter’s dying words: “Help me, Dad.”

(3) Ryan’s Omnibus Funds All Refugee Programs

Despite broad support amongst Republican lawmakers for a proposal introduced by

Rep. Brian Babin (R-TX)

64%

 to halt all refugee resettlement, Ryan’s appropriations bill will fund President Obama’s refugee resettlement operation and will allow for the admission of tens of thousands of refugees with access to federal benefits. Division H Title II of Ryan’s bill contains appropriations of the Department of Health and Human Services (HHS) and contains no language that would restrict the program. Nor are there any restrictions for the program in Division K of Ryan’s bill, which provides funding for the Department of State, which oversees refugee admissions.

Ryan is not one of the 84 cosponsors of Babin’s bill to halt the refugee operation, and he recently told Sean Hannity that he does not support halting resettlement because, “We’re a compassionate country. The refugees laws are important laws.” Similarly, this outcome represents a legislative win for 

Sen. Marco Rubio (R-FL)

79%

, who told Sean Hannity he’d “hate to use” Congress’s power of the purse to deny funding for Obama’s resettlement operation. 

(4) Ryan’s Omnibus Funds All of the Mideast Immigration Programs That Have Been Exploited by Terrorists in Recent Years 

Although multiple immigrant and visa programs in recent years have been exploited by terrorists (such as the F-1 “student” visa, the K-1 “fiancée” visa, and our green card and refugee programs), Ryan’s proposal does nothing to limit admissions from jihadist-prone regions. As Senators Shelby and Sessions of Alabama noted in a joint statement: “The omnibus would put the U.S. on a path to approve admission for hundreds of thousands of migrants from a broad range of countries with jihadists movements over the next 12 months, on top of all the other autopilot annual immigration.”

(5) Ryan’s Omnibus Funds Illegal Alien Resettlement

On page 917 of Ryan’s omnibus a section titled “Refugee and Entrant Assistance” funds the President’s resettlement of illegal immigrant border crossers.

(6) Ryan’s Omnibus Funds the Release of Criminal Aliens

Senior legislative aides tell Breitbart News that Ryan’s bill does not do anything to change the enforcement priorities that Jeh Johnson established a little over a year ago that would shield entire categories of criminal aliens from immigration law, nor does it include language recommended by Sessions and Shelby to “deny the expenditure of funds to issue visas to countries that refuse to repatriate criminal aliens.”

(7) Ryan’s Omnibus Quadruples H-2B Foreign Worker Visas 

Despite Ryan’s pledge not to move an immigration compromise with President Obama, tucked 700 pages into Ryan’s spending bill is language that would resuscitate and expand a controversial provision of the Schumer-Rubio Gang of Eight plan to increase the H-2B visa program.

The provision “would quadruple the number of H-2B visas for unskilled guest workers, for a total of more than 250,000,” writes immigration attorney Ian Smith. The Americans who fill these jobs are typically “society’s most vulnerable — including single women, the disabled, the elderly, minorities, teenagers, students, and first-generation immigrants,”  Smith explains.

A recent BuzzFeed exposé revealed how this program allows businesses to discriminate against American workers and “deliberately den[y] jobs to American workers so they can hire foreign workers on H-2 visas instead.” As one GOP aide told Breitbart News, “This provision is a knife in the heart of the working class, and African Americans.”

(8) Ryan’s Omnibus Funds Tax Credits for Illegal Aliens

Ryan’s bill preserves the expansion of the President’s expiring child tax credits without any accompanying language to prevent illegal aliens from receiving those tax credits. While Sen. Sessions attempted to include language in the bill that would prevent illegal immigrants from receiving tax credits, his recommendation was rejected.

(9) Ryan’s Omnibus Locks-In Huge Spending Increases

The bill funds the Obama-Boehner budget deal, which eliminated spending caps, and will increase both defense and non-defense spending next year by $25 billion more each.

(10) Ryan’s Omnibus Fails to Allocate Funds to Complete the 700-Mile Double-Layer Border Fence That Congress Promised the American People

Nearly a decade ago with the passage of the 2006 Secure Fence Act, the American people were promised a 700-mile double-layer border fence. However, funding for the fence was later gutted and, as a result, its construction was never completed. Despite heightened media focus over the past six months about Americans’ desire for this barrier to illegal entry, Ryan’s bill does not require that funds be allocated to finish the construction of the 700-mile double-layer fence.

A vote could occur as early as Thursday after midnight, giving lawmakers and the public only one full business day to review the 2,242 page package. The Ryan-Pelosi package represents nothing short of a complete and total betrayal of the American people.

Yet Ryan’s omnibus serves a second and equally chilling purpose. By locking in the President’s refugee, immigration, and spending priorities, Ryan’s bill is designed to keep these fights out of Congress by getting them off the table for good. Delivering Obama these wins–and pushing these issues beyond the purview of Congress–will suppress public attention to the issues and, in so doing, will boost the candidacy of the Republican establishment’s preferred presidential contenders, who favor President Obama’s immigration agenda.

What may prove most discouraging of all to Americans is that recent reports reveal that conservatives in the so-called House Freedom Caucus are praising Ryan even as he permanently locks in these irreversible and anti-American immigration policies.According to Politico, the House Freedom Caucus will “give Ryan a pass” even as he funds disastrous policies that prioritize the interests of foreign nationals and global corporatists above the needs of the American people whom lawmakers are supposed to represent.

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Wednesday, January 16, 2013

A Billion Dollars

Got a viral email today that I thought would be good to share:

"This is too true to be funny. The next time you hear a politician use the word 'billion' in a casual manner, think about whether you want the 'politicians' spending YOUR tax money. A billion is a difficult number to comprehend, but one advertising agency did a good job of putting that figure into some perspective in one of its releases:

A. A billion seconds ago it was 1959.

B. A billion minutes ago Jesus was alive.

C. A billion hours ago our ancestors were living in the Stone Age.

D. A billion days ago no-one walked on the earth on two feet.

E. A billion dollars ago was only 8 hours and 20 minutes, at the rate our government is spending it.

While this thought is still fresh in our brain... let's take a look at New Orleans ...
It's amazing what you can learn with some simple division.

Louisiana Senator, Mary Landrieu (D) was asking Congress for 250 BILLION DOLLARS To rebuild New Orleans . Interesting number... What does it mean?

A. Well .. If you are one of the 484,674 residents of New Orleans (every man, woman and child) You each get $516,528

B. Or... If you have one of the 188,251 homes in New Orleans, your home gets$1,329,787.

C. Or... If you are a family of four...Your family gets $2,066,012.

Washington , D.C HELLO! Are all your calculators broken??

Building Permit Tax
CDL License Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Federal Income Tax (Fed)
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges (tax on top of tax)
IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Tax
Marriage License Tax
Medicare Tax
Property Tax
Real Estate Tax
Service charge Taxes
Social Security Tax
Road Usage Tax (Truckers)
Sales Taxes
Recreational Vehicle Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Tax
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Non-recurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Utility Tax
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Non-recurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Utility Tax
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax
(And to think, we left British Rule to avoid so many taxes)
STILL THINK THIS IS FUNNY?

Not one of these taxes existed 100 years ago...And our nation was the most prosperous in the world.We had absolutely no national debt...We had the largest middle class in the world...And Mom stayed home to raise the kids.

What happened?

I hope this goes around the USA at least 100 times.

What the h??? has happened to our country?????