In the history of mankind, many republics have risen, have flourished for a less or greater time, and then have fallen because their citizens lost the power of governing themselves and thereby of governing their state. TR


Obama Signs Debt Ceiling Increase Deal

President Obama signed the debt ceiling bill just minutes ago after the Senate overwhelmingly pass the legislation by a 74-26 vote.

Before signing the measure, Obama made clear during a Rose Garden appearance that he will push for some tax increases in the second tranche of cuts to be considered by a joint committee.

This compromise requires that both parties work together on a larger plan to cut the deficit, which is important for the long-term health of our economy.  And since you can’t close the deficit with just spending cuts, we’ll need a balanced approach where everything is on the table.  Yes, that means making some adjustments to protect health care programs like Medicare so they’re there for future generations.  It also means reforming our tax code so that the wealthiest Americans and biggest corporations pay their fair share.  And it means getting rid of taxpayer subsidies to oil and gas companies, and tax loopholes that help billionaires pay a lower tax rate than teachers and nurses.

I’ve said it before; I will say it again:  We can’t balance the budget on the backs of the very people who have borne the biggest brunt of this recession.

17 thoughts on “Obama Signs Debt Ceiling Increase Deal”

  1. It’s his 50th birthday. He looks more like 60. Maybe the birthers are on to something. s/

    I’m sure his gala, star-studded birthday bash attended by millionaires, billionaires and corporate jet owners will cheer him up and a round of golf Saturday. It’s been a long, golfless month.

    1. Yeah, probably not too many of Nancy’s regular people will be there. I know my invite got lost. I couldn’t spare $40K anyhow.

  2. Yep, he has to disarm the last vestige of America…the middle class. Only way to do that is to take what little is left of the money they’ve been saving their entire lives. This super committee gives the elite politicians an easy way to pass new tax hikes and blame it on each other. In a way to guarantee no conservatives will be appointed, anyone who voted no on the bill can’t serve on this committee. Tell me that isn’t a set up. The ruling class is coming after every taxpayer. That is the only way his redistribution of wealth plan works and they maintain their elite positions and power.

  3. Osama Obama Biden Bin Laden, NO COINCIDENCE

    Obama is not the president, he’s the acting president.

    He disappeared for 2 weeks after his election win only to reappear looking exhausted sitting next to John McCain, with a bad poker face, for a press photo shoot. Obama was turned into a Pentagon puppet ever since.

    Too many stories in the news are completely fabricated to generate chatter for the feds. They have the majority of comments on many news sites, many software generated, and are actively involved in the moderation of sites since the “death” of Osama Bin Laden.

    A military coup d’etat began in 2008 with the introduction of Sarah Palin as John McCain’s running mate.

    Osama Bin Laden is a name and a code. It appears he was created by the New World Order. The New World Order consists of some of the richest people in the world with the goal of overthrowing the US government, some from inside our own government. They are also trying to collapse our currency and are behind all of the “buy gold” hype, not to mention thousands of money making opportunities online and late night infomercials. They are positioned to make billions by collapsing our economy.

    The attacks on 9/11 appear to be attacks on capitalism. The people that make up the New World Order are media moguls, CEO’s and many others. The coup is also the reason why all the CEOs who ran in the last midterm didn’t get elected either.

    You will not read about this in the media since most of the media has been forced to cooperate or have been paid to cooperate.

    What you’re about to learn is true and not embellished in anyway. Here’s what Obama, Osama, Biden, Bin Laden, the FBI’s Most Wanted Terrorists, and Sarah Palin had to do with the last election and the military’s overthrow of our government.

    Do not hesitate to call the Pentagon, the CIA, the FBI and all branches of the federal government and remind them who they work for. Obama doesn’t need to be signing anymore things into law. Enough is enough!

  4. Everyone keeps mentioning this “joint committee,” I think that has been a big problem in DC too many people smoking joints.

    Seems to me that the longer someone spends in DC politics, the more likely they are to call someone “Dude” and say “Wow, we reached a deal, lets go for pizza.”

    I say we call for mandatory drug testing of all members of Congress and the White House. Because they are obviously smoking something.

  5. “…and tax loopholes that help billionaires pay a lower tax rate than teachers and nurses.”

    Sounds like he’s going to let the millionaires off the hook!

    BTW, how many US billionaires are there? 400? So 400 times 1 billion times a 10% tax increase is $40 billion. That ought to cover say 15 days or so of deficit spending.

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