The fiscal cliff and sequestration are due 30 days from now. Go ahead and mark your calendars, I’ll wait.
Now that you’ve done that what’s being done in Washington D.C., by the President and our elected representatives to address this issue?
This past week the President offered the following proposal:
$1.6 trillion in tax increases,
$50 billion in new stimulus spending,
and changes that would make it easier to raise the federal debt limit. All so that all this new spending could continue.
Not unexpected, Senate Minority Leader Mitch McConnell (R-KY) couldn’t contain his laughter at these suggestions. Not only is what has been offered, a continuation of President Obama’s first four years in office, the new proposal contains no spending cuts.
Congressional watchers noted that the new offer amounts to little more than a rehash of the President’s budget request in May of 2012, which failed to get a single vote in the House or Senate. There are those who are recommending that House Republicans simply bring President Obama’s latest proposal up for another vote to see if anything has changed.
The timeline –
August 2, 2011: The President signed the Budget Control Act of 2011. This act provided that, if the Joint Select Committee did not produce bipartisan legislation, across-the-board spending cuts would take effect on January 2, 2013
August 7, 2012: Obama signed the Sequestration Transparency Act of 2012, which directed his administration to detail in 30 days how they plan to implement the automatic cuts mandated by the Budget Control Act.
September 14, 2012: Obama released his 400-page document detailing cuts.
October 22, 2012: At the third of three presidential debates, Obama says sequestration will not happen.
It is clear that the president has his name on this issue and shouldn’t be able to back away from any responsibility for the consequences of his signature actions. However it should be noted that the Republican’s have put forth a Fiscal Year 2013 Budget.
The president is scheduled to depart on a 21 day, $4 million vacation from December 17 through January 6. It’s clear that the president is truly concerned for the state of the nation and his favorite middle class.