Tag Archives: Tax Cuts
With a victory on the financial regulation overhaul in his pocket—a “key pillar” in his recession recovery plan—President Obama said a Republican plan for the economy would move the country backward to the job-killing policies of his predecessor. “It took nearly a decade of failed economic policies to create this mess, and it will take years to fully repair the damage,” Obama said in his weekly address that aired Saturday, vowing that his policies would move the country forward. That’s expected to be one of the White House’s main messages during this fall’s midterm elections. The president admitted that the growth since the credit crisis two years ago hasn’t created enough jobs, but said the GOP would make things much worse. House Minority Leader John Boehner (R-OH) countered that the GOP would promote growth by cutting spending and taxes.
Read more here.
Or, listen to the address here.
Check out these 15 charts on the subject of wealth and inequality in America.
Thanks to the 2006 and 2008 elections, conservatives no longer control the American government. They do, however, continue to essentially control the American media. As a case in point, you’ve probably heard that part of the Obama administration’s plan to pass health reform is to use the budget reconciliation process. The reason you’ve probably heard is that the press has been obsessed with the topic, repeatedly labeling it a “controversial” move that would “ram” legislation via an end-run around the normal legislative process.”
In fact, though most bills do not go through the reconciliation process—typically because their subject matter makes them ineligible—the process has been invoked frequently since 1980. And the reason it’s remained obscure until 2010 is that until the health-care debate, the press never saw fit to go into conniptions over congressional procedure.
Some of the mainstream media coverage of the reconciliation issue has been bad. Some of it, like this excellent NPR story, has been good.
Continue reading here.