President Obama made his first public remarks since winning a second term this afternoon, delivering brief remarks at the White House about the looming dispute with Congress over upcoming, automatic spending cuts. (The president did not field any questions after his seven-minute speech.)
To the extent that Obama repeated many of the same points he stressed during the campaign, today's remarks didn't exactly break new ground, but there was some noteworthy elements. The president noted, for example, that he'll host congressional leaders from both parties at the White House next week for the first round of formal talks.
Obama also said "our top priority has to be jobs and growth," which matters since so many on the right believe our top priority has to be deficit reduction.
But this was the most politically relevant part:
"[A]s I've said before, we can't just cut our way to prosperity. If we're serious about reducing the deficit, we have to combine spending cuts with revenue -- and that means asking the wealthiest Americans to pay a little more in taxes. That's how we did it in the 1990s, when Bill Clinton was president. That's how we can reduce the deficit while still making the investments we need to build a strong middle class and a strong economy. [...]
"I want to be clear -- I'm not wedded to every detail of my plan. I'm open to compromise. I'm open to new ideas. I'm committed to solving our fiscal challenges. But I refuse to accept any approach that isn't balanced."
The president went on to say, without any real subtlety, that he has a mandate on this, and the American mainstream agrees with his position -- he's not going to extend all of the Bush-era tax cuts, and the Republican hostage strategy won't work.
For his part, Senate Minority Leader Mitch McConnell (R-Ky.) argued again this morning that he'll oppose any effort to increase any tax by any amount on anyone at any time for any reason.
Next week's talks at the White House ought to be all kinds of fun.
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You GO for it, Bronco Bama!
He has not yet bludgeoned the GOP with the fact that McConnell's and Boehner's statements are scaring the crap out of the markets. Yesterday's one day drop was extraordinary.
Of course, the GOP will spin it as fear of Obama.
My view remains. The Obama microtargetting Victory machine must be redeployed by the DCCC into political warfare teams to take out the GOP congressional members wedded to this dystopic vision of obstructed federal government.
Oh brother. This is all grandstanding at the sacrificial altar of fairness. Tax hikes on the rich will only get you $36 billion. That wouldn't pay but for three months of the payroll tax cut.
Raise the taxes on everyone and you get some $238 billion. Wasn't the Clinton prosperity predicated on ALL the rates not just a couple?
I agree with John. The DCCC needs to get its act together and get cracking on educating the public about the nonstop obstruction. It's time to get rid of the virus of hate toward the federal government that was started by the most irresponsible President in U.S. history: Reagan.
There's only one way the GOP survives yet again and that is if the Democrats fail to put them away.
PS: Don't do it, folks. You know what I'm talking about.
Shooter - Which is why it's NOT JUST top-rate increases... which you'd know, if you bothered to stop cherry-picking.
I don't believe it. I just don't believe it.
It's only 36 billion a year like it only took 1 year to get a 16 trillion dollar deficit, good lord they are really challenged with math.
This and Bohner's statement has ALL been grandstanding. This "fiscal cliff" has been looming for a YEAR! Where were calls to work through this months ago? Who said, "I'm meeting in XYZ conference room, I invite all other leaders to work with me."
No, they wait until after the election, until less than two months before the deadline, and everyone says...let's work together on this...quickly. This is the game of politics not the noble act of leading.
So glad you bring this up John. Way too many are infected with the epidemic of blaming Pres. Obama for everything. The day after the election the Dow dropped because the European Central Bank President Mario Draghi, declared things didn't look good for Europe's economic future and Germany in particular. Yesterday the Dow continued to drop because of statements from Republicans demonstrating they're willing to bring down the whole economy because they won't budge on giving tax breaks to the last people who need them. Today the Dow went up after the President made it clear that the best way to move the economy forward was a balanced approach. You're right, we have to pound Republicans into the ground with the facts that the CRS report, market reactions, independent experts and years of history prove a balanced approach is what works and tax cuts for the rich don't. I can't second your view enough...the Obama victory machine has to become the Democrats permanent force for change. Not only does the President have to take it to the streets, but we have to take to the streets. If you can't get out on the streets, bombard representatives with e-mails.
It seems to me both the Pres and Boehner are willing to make revenue increase part of the plan. What's not being discussed are entitlements, the largest drivers of the deficit. Whats also not being talked about are payroll taxes, the amt and other taxes tahat also expire.
whomitmay, What part of the math are you having trouble with? We have trillion dollar deficits every year. Even if you subtract the $36 billion from tax hikes on the rich that leaves $964 billion in debt. Which is more than ALL the income tax collected from everyone, for the entire year. It's amazing to me that those who can forsee the end of the world from climate change can't forsee the consequences of spending trillions more than received.
just1voice, you're in luck. Taxes for everyone automatically go up January first. Obamacare taxes on the wealthy kick in too. You should be a happy guy. Why the whining?
" let's face it, most college kids were asked who was the vice president, most replied Sarah Palin"
Given the plethora of studies confirming that Republicans know fewer facts than Democrats, you better believe I'm going to point out the irony of a right-winger complaining that too many people who voted for Obama were not sufficiently informed.
Stand strong Mr. President, WE have your back! Hey Bonehead & McTurtle, either go along or go away!
What Krugman said this morning. Kick em in the yarbles.
http://www.nytimes.com/2012/11/09/opinion/krugman-lets-not-make-a-deal.html?hp&_r=0
"Yarbles?" Is that one of those fancy economic jargon terms that Krugman tosses around?
But seriously, he is going at the same trope. This is like the threat the Taliban presents, and the tack you have to take with them. Offer negotiation to those who are willing to talk, and annihilation to those who want to return to pursue destruction. We basically need Seal teams to go in and serve candidates- to use sophisticated marketing tools and databases to identify supporters and persuadable folks and finally to motivate them to get out and vote. It has to be a nationwide effort using the resources and techniques that Sasha Issenberg has described as a vast Left Wing Competency.
Shooter, allowing the Bu$h era tax cuts to expire on people making over $250K a year is NOT a tax hike. It's a return to previous levels they had already been paying. An expiration date for these tax cuts was agreed to by all parties involved.
Of course, the right wing thought they were going to have a permanent republican majority (how's that working out for ya Karl Rove???), and they also thought these trillions in tax cuts would create some sort of economic utopia, so they weren't going to honor this agreement anyway.
We all know how that worked out.
The point is, the tax cuts have an expiration date, and the rich are just going to have to suck it up and give back to the country that has enabled them to be rich in the first place.
One thing about these right wing whackos, they all seem to think that republican economic philosophy actually works. After 30+ years of the middle class losing ground (except for 1992-2000), you'd think even they would start to face the music.
Pay no mind to shooter there...he is not worth the effort as he is a regular troll here and is harmless
Sun, I appreciate the recommendation but Shooter is a favorite troll of mine and I rather enjoy countering his foolishness.
Trolls must be neutralized, ignoring them only emboldens them.
If a compromise cannot be achieved, let the "fiscal cliff" happen. It resets the tax rates to Clinton years. Plus we get cuts from sequestration. That should go a long way to balance the finances. When the time comes for increasing the debt ceiling, horse trade the middle class tax cuts for the increase in the debt ceiling. The Grover Norquist House Republicans can claim a tax cut, the President can keep his promise and the country moves forward by get the financial house in order. Win-Win-Win
Now some are suggesting to keep the rates intact and to remove the deductions which benefit the richest. In other words, reducing the tax expenditures. Initially, it sounds like a good idea, keep the rates the same, and close the loop holes. Now, what are the unintended consequences of that choice? If one does not get a deduction to spend money on things, people won't spend the money as they can't reduce the tax rates/burden, which in turn will slow the economy down. If anything, higher rates should spur more spending by the affected group by spending more to reduce the tax burden/rates.
Let me give an example. Currently, one gets a tax deduction for mortgage interest. If the deductions get capped and reduced, that is essentially saving tax expenditures and hence "raising revenue". But consider this, what are the unintended consequences of this example? Perhaps, people may not want to buy a house as it is less attractive, plus some people may want to sell as they have to pay more than they currently pay. This will most likely lead to a downward pressure on housing prices.
A good compromise would be to keep the current rates intact and add 3 more tax rates. Instead of raising the tax rate on people over $250K, add new rates for people making over $500k to $750K, another rate for $750K to $1 million and last but not least a rate for incomes over $1 million. As this is a watered down version, now balance this with the reduction of tax exemption with the lowest multipliers, i.e. multiplier less than 1. And, lastly cut the budget responsibly and curb the projected growth of social programs.
I am sure this post won’t be liked by many as it impacts everyone, but I think it’s a good start.
I'm on board. Tax hikes on everyone and less spending is the way to go. Don't raise the debt ceiling either.
"When the time comes for increasing the debt ceiling, horse trade the middle class tax cuts for the increase in the debt ceiling."
If the tax increases happen, and the spending cuts happen, then that should push the need to increase the debt ceiling back quite a bit too, wouldn't it?
McConnell and Boehner need to realize the time of silly talk is over! They will be held responsible for whatever efforts they insist on using to obstruct common sense economic policy!
Hey you white boys - President Obama won reelection on a platform we want you to work toward in good faith. If you don't, we will be not only watching, we will be taking action in the next election cycle (2014) to unseat your asses! -Kevo
Yet another racist comment from the left....
Yet another idiotic case of projection from the right...
Yet another teabagger with a 'Im rubber, you're glue' defense.
Yo, Whoa, Steve bazillion numbers after - I'm not using the pejorative, I'm as white as I can get, being Celt and all (boy do gingers and towheads rule in my family)!
Anyway, as I am white, and the boys in questions were targeted earlier in my post as silly talkers, I do think you owe me an apology! After all, I am also a conservative Republican, just not a Crazy one!
And just as Bill Clinton's economic policies (you know the ones President Obama is using as political capital) were the best Republican economic policies around in the 20th century, any talk by the Crazies in Republican suits that smacks of a return to what Poppy got right -"Voodoo Economics" -is just plain wrong, not to mention silly talk coming from the likes of any typical neighborhood juvenile! -Kevo
Fair and balanced? FOX is king of fair and balanced. We shall let FOX news dictate our policy!
I am convinced that the right has doubled down and lied themselves into a corner. They have brainwashed their base so long that even the brain washers are no longer able to see the light.
Thirteenth floor and the next hard right leads to the off ramp! (Body Bags cost extra)
Mitch McConnell is just indoctrinated to the point of not being able to change. Maybe the repubs will end his reign. If all America said hey Mitch, raise taxes on the wealthy so we can pay for infrastructure Mitch would still say, "No...the people do not want taxes raised". Obstruction is all he knows...but doing nothing taxes will still be raised when the Bush tax cuts expire. Mitch has a chance to make sure they aren't raised on the middle class...but it's obvious Mitch is only concerned with the millionaires and billionaires and will punish the middle class for letting tax cuts on millionaires expire.
Kentucky...get rid of this guy...he's never done anything for ya'. Btw... the economy will grow if all we did was let the Bush tax cuts expire so Obama doesn't need to cut "entitlements" at all.
Very small chance in tiny town that the good folk of Kentucky will consider anyone aside from the hard on the eyes , ears , nose , mental seat , and throat McConnell . Tennessee may be even more hostile to Tennesseans than Kentuckians are to themselves , but I speculate .
It's a disciplined game that the welfare states play . The game starts by initiating some futile form of seceding from the Union . By receiving more federal money than they pay in federal taxes puts a player in a strong strategic position which then allows them to claim that the people who give them their "free" money are "librulz" , who they hates , usually to pieces . The winner is the player who becomes the most angry at profiles that match their own , or who can demean every source of federal income they generate as gubbament oppression .
@FRP, then maybe it's time to stop gifting money to those poor red state'rs, after all they don't see how much they mooch, let them suffer and awaken to what is really going on...
We will try to get rid of this guy. The last election he was running in he was lucky to run against a lightweight in Jack Conway, who simply ran an inept campaign. That along with the fact he got no help from national democrats doomed Conway.
This next time around, taking out McConnell needs to be one of the TOP priorities for the democrats. And they need to start grooming someone NOW.
KY has a long democratic history, and not just former dixiecrats. We have a democratic governor, and its two largest cities, Lexington and Louisville, are relatively blue. It's not too far fetched or impossible to think we can ditch Mitch once and for all, but as I stated, we're going to need help.
Absolutly. Good luck. Vote that traitor out. When I find out who's running against him I'll be glad to contribute.
Let it happen. Don't compromise.
If I was President Obama and was faced with idiots like the house majority leader and the senate minority leader, I'd say "My way or the highway." When they refuse, say "Okay" and let the stuff hit the fan. What do you want to bet, they'll change their tune real quick?
The president has opened the door to bipartisanship and it appears Republicans are not willing to bite. But in behind the closed doors, I would guess that Republicans are hearing from a lot of angry rich constituents that want a deal. This is not going to get better if Republicans wait until January because they still have the Tea Party to deal with on this issue. The choice is take a good deal now or a worse deal later. Republicans and Congress have extremely low approval ratings. Taking hostages is not going to improve those ratings. So the question is do the Republicans stand pat and let the middle class taxes go up despite favorable public opinion on the issue of raising taxes on the wealthy. The Republicans are playing a game of chicken, but they have no real bargaining chip that they can use without arousing public opinion.
Mike,
Don't know if you are actually in the Chicago area, but we did oust one of the tea party folks. I looked at some numbers the other day. I'm doing this off the top of my head, so don't hold me to them. Of the 60 tea partiers that got elected to Congress, 20 of them lost their jobs. It doesn't mean that they won't still push their agenda, but I think Boehner is going to be less swayed by them.
I do live near Chicago and I am aware that Walsh and Dold were ousted. But there are still a number of Republicans who identify themselves with the Tea Party. The Republicans got in bed with the Tea Party and now they pay the price. Mainstream Republicans are looking at opinion polls, particularly those members who are in seats that are not so safe. Depending on the makeup of the district, there are Republicans who may not want to engage in "scorched earth" tactics because of the blow back. The Bush cuts expire automatically so the only tactic left is hostage taking. That is not a real good option for some members in the House.
Stand your ground....Mr. President......we have your back!!! It is only a fiscal curb...not a cliff....
It sure is good to have a post where the President is getting a bit in the face of the GOP instead of Mendacious Mitt CLXII.
Really ! Cause for celebration ! Its Friday and no Mendacious Mitt post.
I would give any thing to see a video from their war room as the results came in.
Elections have consequences! Hehehehe...
That may be the most underrated feel good part of waking up for the next four years . Amen .
Indeed. I hope Rachel celebrates with a cocktail tonight!
I'm sure Steve is relieved he isn't facing 4 to 8 years of chronicling Romney's lies.
Cocktail?
What is a schadenfreude cocktail?
The closest I know is John Scalzi's "schadenfreude pie." It's not quite a cocktail moment, but might rate a "best not-quite-new thing in the world" for a week like this.
After the first three years of living up to the bipartisan leader he is and working diligently to try and work with Republicans he realized he had to fight back. But at that point mainstream media was equalizing everything and making it look like both sides don't compromise. He's been waiting a whole year and then some for this election, so with the people so clearly behind him, he could drill Republicans with reality. And if they continue to ignore reality, they will continue to be a shrinking part of it.
If the presidents policies are so bad, implement them. If they do not work you can win the White House next go round. You won't have to suppress, lie or pretend.
Instead of incessantly droning on about how smart the Democrats are and how stupid and
clueless the Republicans are… How about getting really smart people on your
program that have a clue on how to get our country out of its mess. Who knows maybe one or two of them might be a Republican -- Bridge building, co-operation
your program could be the start of something big…
If you've watched much at all, TRMS has tried their best to get Republicans on. Funny how they never seem to get the big names. it's as if they're afraid or something :)
Can you imagine if it happens and what good thing could come?
We can imagine... but it's just fantasy, because the GOP doesn't take yes for an answer, and compromise is a dirty word for them. Even if those people came on the show, they'd get the Christie treatment for "colluding with the enemy".
have to keep trying
"Insanity is doing the same thing, over and over again, but expecting different results." This also applies to hoping in vain that the GOP will become sane and stop chasing far-right fantasies.
sorry I have to keep trying, I still believe most people are good and want the best for the country. We have many brilliant people in this country. There should be a reasonable soultion... Call me insane....
No balance... no deal! I like the sound of that.
And, when it comes time for the next Supreme Court appointment, how about:
No Justice... no peace!
Got Enraged and Engaged:
Mooched the Vote 2012!
;-)
Wow Citzen bob, who do you suggest from the Republican side? I mean who can actually speak for the party and have the majority of them go go along with the ideas? The President wants taxes on the very wealthy to go up immediately. I expect in a few years they will need to go up for those of us earning less than $250K. But who among the Republicans can make a commitment to that first $250K and above increase?
I know.... I am a dreamer.... Sorry I posted....
The two parties were able to agree on spending cuts but then talks stalled due to the impasse on revenues. Isn't that holding hostage any movement forward on fiscal restraint? If they can agree on cuts DO IT!!!!
Deficit spending has, at a minimum, remained at triple of what it was in 2009 and multiple years before. What about a show of faith via reduced deficit spending that increased revenues won't just go into the black hole that is our government spending? Perhaps a budget in on time would be good...
"Deficit spending has, at a minimum, remained at triple of what it was in 2009 and multiple years before. "
That's not true.
If, as Republicans claim, hurricane Sandy gave the final push that helped President Obama win the election, shouldn't that tell them that he is a real christain? Hurricanes, like other natural disasters, are' considered acts of God'. And, if Sandy helped him to win...
The amusing thing is that before election day religious right figures were calling Sandy divine punishment for abortion, homosexuality, flat beer, anything/everything. And, of course, the religious right has long considered Obama the epitome of evil. Funny sort of punishment, helping out the supreme sinner when he (allegedly) needed it most. Either God doesn't know what the hell he is doing or what he wants, or "conservatives" have all the rationality of intoxicated gibbons. I lean toward the latter theory.
Time to find agreements and soultions
It's not the Tea Party, it's the lockstep of House Republicans. Now comes the process of peeling off those from blue states to join with Democrats in passing the deal Obama wants. They know they're going to be challenged from the left in 2014 and if they persist in enabling Tea Party obstructionists, they'll pay the price. There are 60-70 hardcore conservatives in a house of 435. By themselves, they're a minority. Subtract them from the 233 majority and do the math. If we press our advantage, the votes are there.
I tend to think it's more Boehner being fearful of losing the majority of his caucus. If he loses the majority of his own caucus, he'd have to rely on Democrats (!) to remain Speaker. If you think you've seen him crying before...
I don't doubt many Republicans in the House have been frightened of being primaried from the right, perhaps this election will give them some courage.
I'm a bit old for bungee-jumping, but if ya gotta, ya gotta!
Mcconnell still doesnt get it Obama can stand his ground and all the Bush tax cuts expire then after this the DEM can propose restoration of the tax cuts to those making say below 250k if the GOP refuses that they are dead in the water politically. Its like a game to see who will blink first I am betting the GOP has to or all the tax cuts disappear then how will they look
defending the super wealthy doesnt sit well with anyone but the wealthy, those struggling to make ends meet and see those wealthy getting away with tax rates of 14% and less due to tax loop holes. I agree the tax code needs major revisions but in the mean time the wealthy need to pay alittle more. As Obama indicates winning the popular vote and electoral vote IS a mandate from the majority of the voters supporting his campaign theme of increased taxes on the wealthy. If the GOP refuses to see that or accept that, they have little leverage at this point.
Actually, according to the IRS, the average tax rates are...
top 1% - 24%
top 10% - 18%
top 50% - 12.5%
bottom 50% - 1.85%
I don't know why it is thought that the wealthy are "getting away" with something when the top 1% pay 37% of all taxes and the top 10% pay 70% of all taxes.
At what point do we stop vilifying the wealthy for being successful and hold our law makers responsible for their failure to reign in spending??
Great Post
"Vilify", no. Contempt, yes. There is a difference. Way too many of those famed "job creators" have shown themselves to be incompetent in everything except getting their hand-picked Boards of Directors to overpay them.
Perhaps either of you would like to have a stab at explaining why, if requiring those with the most to pay a higher tax rate rate is so damaging to it, the economy did so well during the period from 1946 to 1972 when the highest marginal rates were 70-90%?
I'll wait...
Awwww, lisafp, cherry-picking statistics I see. Well, since you used 2009 statistics, I'll give you a couple more from that year:
42% of the wealth in this country was controlled by the top 1%
7% of the wealth in this country was controlled by the bottom 80%
I hope Warren Zevon doesn't mind me mangling his lyrics, but frankly:
Poor poor you, poor poor pitiful you!!
You know, Romney didn't loose the election for the Republicans, greedy and selfish people like you did it all on your own!!!
Well folks, until our representatives start pledging allegiance to the United States of America and not to Grover Norquist, Karl Rove and Rush Limbaugh, nothing will change. Sorry,,,
You are right on, Personally, I think Grover is a traitor to our American way, his name isn't in our oath of office even tho' the republican party bought his crap. I really don't think he got the message from the election. But I thought all our politicians had to swear allegiance to America as part of their induction oath. Apparently, quite a few of them forgot their oath. That could make them traitors. We all sail on this ship, and we all deserve Americas bounty in good times and not so good times. Just like Earth, we don't have any place else to go, so WAKE UP.
We are watching the beginning of the end of Grover's pledge. So long as all of us keep pressing for it.
Rachel: Can you please come up with a new term for "lame duck." When speaking of most members of congress, it's an insult to ducks.
Maybe we should scrap the income tax and move to an added value tax. A smart friend of mine told me that it would make us more competitive with exports to foreign countries, is this right?
Funny watching the MSDNC commentators falling all over themselves thinking that President Obama has the upper hand or has a MANDATE regarding the tax issues and the possibility of the Fiscal Cliff
I guess they already forgot that ALMOST 1 out of every 2 Americans that voted DID NOT vote for Him!!!!
Funny, I remember Bush claiming a mandate back in 04 with a smaller margin of victory. Are you saying he was wrong and did not have one?