Tuesday, December 18, 2012

The Fiscal Cliff: Nebraska Congressman and Senators Should Say 'No' to Obama

Well, it appears to us that Republicans, led by John Boehner are about to fall over the 'political cliff' and sell their souls to Barack Obama in order to prevent themselves from being blamed for sending the nation over the fiscal cliff.   Frankly, we'd prefer the ride over the latter and any Republicans, particularly any Nebraska Republicans who vote to this may be committing political suicide--and more particularly 2nd Congressional District Congressman Lee Terry.    If Terry votes for anything similar to what is being discussed one can only guess at the inter-party opposition he will face in 2014 from the conservative side of his party.

The president's latest 'offer' supposedly includes a plan to:
  • Raise taxes by $1.3 trillion
  • Cut spending by $930 billion
  • Lift the debt limit for two years
  • Extension of unemployment benefits
  • Infrastructure spending stimulus
  • Raise the rates on capital gains and dividends from 15% to 20%
  • Raise estate taxes to pre-2009 levels-a 45 percent top rate, with a $3.5 million exemption per person
  • Includes savings from ending the wars in Afghanistan and Iraq and last year’s debt limit deal which Obama offer says reduces the deficit by $4 trillion over ten years.
  • No Medicare eligibility age changes or entitlement program savings
  • Patch the Alternative Minimum Tax
  • Avoid an increase in the physician payment rate under Medicare (how long will that last before congress changes it?)
  • Doesn't include any payroll tax extension which you can bet the Dems will find some way to pass.‬‬‬
‪Boehner’s office  said the proposal was “a step in the right direction”, but we don't think it is anymore than another hood-winking of Republicans and the American public.

Any Nebraska Republican running for re-election in 2014 would be better justified in voting no and allowing the country to go over the fiscal cliff rather than accepting a deal that will jeopardize the future of our country, not to mention their own political future.‬‬

No comments: