OpEdNews Op Eds

Obama Begins Bipartisan Talks on Spending Cuts

By (about the author)     Permalink       (Page 2 of 2 pages)
Related Topic(s): ; ; ; ; ; ; ; ; , Add Tags Add to My Group(s)

Must Read 1   News 1   Supported 1  
View Ratings | Rate It

opednews.com Headlined to H3 11/18/12

- Advertisement -

Last Sunday, NBC News' "Meet the Press" program posted part of a secret document outlining the Obama administration's final offer in abortive negotiations with Boehner in July 2011, the first attempt at a "grand bargain" that would have raised the Medicare eligibility age from 65 to 67, cut future inflation-linked increases in Social Security benefits, and imposed other significant cuts in social spending. (See: Leaked "grand bargain" document details Obama's plan for cuts in entitlement programs).

The Wall Street Journal reported Friday that White House officials are in "advanced discussions about a plan to postpone $110 billion in spending cuts," known as the "sequester," that is scheduled to begin in January, half of it in military programs. The newspaper said, "The plan would entail a smaller package of spending cuts and tax increases to put off for six to 12 months the cuts that would affect federal spending on defense and other domestic programs." Congressional Republicans have called for deferring only the military half of the spending cuts.

After Obama's Wednesday press conference, where he said he was "open to new ideas" on the expiration of the Bush tax cuts for the wealthy, a White House official told McClatchy News Service that the administration would consider a top income tax rate of 37 percent or 38 percent for families making more than $250,000 a year. That rate is currently 35 percent, but scheduled to return to 39.6 percent, the level that prevailed in the 1990s, when the Bush tax cuts expire January 1.

An analysis of the "fiscal cliff" in the New York Times Friday noted that most Americans were unaware of the looming deadline, in large part because the Democrats and Republicans deliberately downplayed the issue during the 2012 election campaign. The article explained that "most solutions are politically painful," and continued: "In a rare show of bipartisanship, or mutual protection, both parties ducked the debate until after the election."

The US "newspaper of record" all but admits that the 2012 elections were a fraud, a "conspiracy of silence" against the American people, in which not only the two capitalist parties, but the corporate-controlled media participated. All those engaged in hyping the elections as a titanic struggle of irreconcilably opposed camps were aware that as soon as the votes were counted, the two parties would join in a bipartisan effort to dismantle social programs on which tens of millions of people depend.

- Advertisement -
- Advertisement -

Next Page  1  |  2


Patrick Martin writes for the World Socialist Website (wsws.org), a forum for socialist ideas & analysis & published by the International Committee of the Fourth International (ICFI).

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon

Go To Commenting

The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact Author Contact Editor View Authors' Articles
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The Low-wage, No-raise Economy

US House of Representatives votes to abolish Medicare

Nearly One Million US Workers Cut Off Unemployment Benefits

Obama hails deal to impose record cuts in social spending

US House of Representatives approves plan to destroy Medicare, Medicaid and food stamps

One in seven Americans now living in poverty


The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
1 people are discussing this page, with 1 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)

...who suffer the most. While the riches among us ... by Ginger McClemons on Monday, Nov 19, 2012 at 5:14:09 PM