Romney hits Obama on looming 'fiscal cliff'

Sep 16, 2012 Full story: Reuters 143

Republican presidential candidate Mitt Romney accused President Barack Obama on Saturday of standing by while a looming budgetary calamity unfolds in Washington as he sought to regain his footing after a tough week on the campaign trail.

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Wall Street Government

Sebastian, FL

#1 Sep 16, 2012
Political gridlock threatens to plunge us back into recession, but instead of seeking bipartisan solutions, President Obama is passively allowing us to go over a fiscal cliff," Romney said in his weekly podcast.

August 4 - September 9 House Recess

September 15 – 18 House Recess

September 22 – 30 House Recess

Congress sure seems concerned.

Romney, who has vowed to build up the U.S. military if elected on November 6, has singled out for criticism the $54 billion in defense cuts that would kick in at year's end. He says this is no time to shrink the Pentagon's budget.

Yes it is.

Time to shrink foreign aid also.
JBH

Delta, Canada

#2 Sep 16, 2012
To you the Democrats, Obama is never real, as he has done nothing of what you want.

Does Obama love the super rich getting richer and hate the poor, all over everywhere?
It possible for Obama to do about jobs, economy and trade at all from now on, to turn things around. Not only that he does not have any know-how to do a recovery, he knows to ruin the recovery.

Nearly for FOUR years of troubling messes in the economics, there is still Obama trying to ruin people's economy and to make crisis.
His economic policy is that which will outcome the SAME economic crash as he talked about--the credit crunch crisis.

There has been contraction of middle class, beyond their income and wealth since Obama lays hands on your money.
That the poor are growing in bigger numbers and the rich getting richer in very small number (for example, like the stock market), is his work to implement the disproportional distribution of wealth.

So Obama loves the super rich and hates you people and the poor, so that there is not any possible way to be doing better off economically.
In fact, people are worsened and not better off.

What do you say to that?
JBH

Delta, Canada

#3 Sep 16, 2012
It IS IMPOSSIBLE for Obama.

It IS IMPOSSIBLE for Obama TO DO ABOUT the economics, security, and US image of any meaningful policy on the planet, that global people will think US role does make a difference, since he would rather mess them up.

To you the Democrats, Obama is never real, as he has done nothing of what you want.

Does Obama love the super rich getting richer and hate the poor, all over everywhere?

It IS IMPOSSIBLE for Obama to do about jobs, economy and trade at all from now on, to turn things around. Not only that he does not have any know-how to do a recovery, he knows to ruin the recovery.

Nearly for FOUR years of troubling messes in the economics, there is still Obama trying to ruin people's economy and to make crisis.
His economic policy is that which will outcome the SAME economic crash as he talked about--the credit crunch crisis.

There has been contraction of middle class, beyond their income and wealth since Obama lays hands on your money.
That the poor are growing in bigger numbers and the rich getting richer in very small number (for example, like the stock market), is his work to implement the disproportional distribution of wealth.

So Obama loves the super rich and hates you people and the poor, so that there is not any possible way to be doing better off economically.
In fact, people are worsened and not better off.

What do you say to that?
Curtis Lowe

San Antonio, TX

#4 Sep 16, 2012
"Looming"? I'm pretty sure we went over that cliff years ago. The Fed is just printing money to mask it and the rest of the world plays along because we're the only game in town. For now.

Since: Feb 07

Whitman,Ma

#5 Sep 16, 2012
Congress and Obummer spend too much time campaigning. They should all have their pay docked for all of this away time. It seems our politicians are useless except for their own cause to get re-elected.

“I'd rather be snowmobiling”

Since: Oct 07

8120'

#6 Sep 16, 2012
FOR SEVERAL weeks, we’ve been asking Republican presidential nominee Mitt Romney to explain how he can cut taxes, as promised, without adding to the nation’s debt, as also promised. Now he’s effectively let the cat out of the bag: He can’t.

Mr. Romney’s tax plan calls for reducing income tax rates by 20 percent. The top bracket would go from 35 percent to 28 percent. He has said that he can do this in a revenue-neutral way by eliminating loopholes. While the rich might pay more, he has said, the middle class would pay less.

There are a couple of pitfalls here. The first is that while closing loopholes sounds good — Make those oil companies pay!— the costliest ones are cherished by most Americans. These are tax provisions that promote home ownership, charitable giving, and employer-provided health care and that allow taxpayers to deduct their state and local income taxes. Limiting or eliminating these popular “loopholes” would be extremely difficult.

The second obstacle, as shown by the Tax Policy Center, a joint venture of the Brookings Institution and the Urban Institute, is that Mr. Romney’s plan is mathematically impossible, even if it were politically feasible. Take away every deduction from every wealthy household, the center calculated, and you still couldn’t make up the revenue the government would lose by reducing rates without raising taxes on middle-class households.

Not so, Mr. Romney protested recently, and cited an analysis by Harvard economist Martin Feldstein, a Romney campaign adviser. Mr. Feldstein said the math could work — if you took away every deduction from every household earning $100,000 or more.(Even then, he couldn’t pay for the estate tax abolition that Mr. Romney also favors, but never mind.) Is that what Mr. Romney has in mind, we asked? If not, what is his plan?
On Friday, ABC’s George Stephanopoulos put the question to the candidate.“No, middle income is $200,000 to $250,000 and less,” Mr. Romney replied.

But then, the Harvard study shows, the math can’t work. His answer?“The biggest source of getting the country to a balanced budget is not by raising taxes or by cutting spending,” he said.“It’s by encouraging the growth of the economy.”

In other words, we are back to counting on magic — to “dynamic scoring,” the voodoo economics of the Reagan era, the wishful thinking of President George W. Bush’s 2001 and 2003 tax cuts that helped turn a surplus into the deficit now weighing the nation’s economy. Cut taxes and hope the economy grows faster than predicted.

At a time when the nation is already on course to build up a debt so large that interest payments alone will begin to drown us, Mr. Romney wants to reduce taxes further, with — it now appears — no plan to make up the difference. It almost takes your breath away.
http://www.washingtonpost.com/opinions/mitt-r...
senior citizen

Granite City, IL

#7 Sep 16, 2012
twostroketerror wrote:
FOR SEVERAL weeks, we’ve been asking Republican presidential nominee Mitt Romney to explain how he can cut taxes, as promised, without adding to the nation’s debt, as also promised. Now he’s effectively let the cat out of the bag: He can’t.
Mr. Romney’s tax plan calls for reducing income tax rates by 20 percent. The top bracket would go from 35 percent to 28 percent. He has said that he can do this in a revenue-neutral way by eliminating loopholes. While the rich might pay more, he has said, the middle class would pay less.
There are a couple of pitfalls here. The first is that while closing loopholes sounds good — Make those oil companies pay!— the costliest ones are cherished by most Americans. These are tax provisions that promote home ownership, charitable giving, and employer-provided health care and that allow taxpayers to deduct their state and local income taxes. Limiting or eliminating these popular “loopholes” would be extremely difficult.
The second obstacle, as shown by the Tax Policy Center, a joint venture of the Brookings Institution and the Urban Institute, is that Mr. Romney’s plan is mathematically impossible, even if it were politically feasible. Take away every deduction from every wealthy household, the center calculated, and you still couldn’t make up the revenue the government would lose by reducing rates without raising taxes on middle-class households.
Not so, Mr. Romney protested recently, and cited an analysis by Harvard economist Martin Feldstein, a Romney campaign adviser. Mr. Feldstein said the math could work — if you took away every deduction from every household earning $100,000 or more.(Even then, he couldn’t pay for the estate tax abolition that Mr. Romney also favors, but never mind.) Is that what Mr. Romney has in mind, we asked? If not, what is his plan?
On Friday, ABC’s George Stephanopoulos put the question to the candidate.“No, middle income is $200,000 to $250,000 and less,” Mr. Romney replied.
But then, the Harvard study shows, the math can’t work. His answer?“The biggest source of getting the country to a balanced budget is not by raising taxes or by cutting spending,” he said.“It’s by encouraging the growth of the economy.”
In other words, we are back to counting on magic — to “dynamic scoring,” the voodoo economics of the Reagan era, the wishful thinking of President George W. Bush’s 2001 and 2003 tax cuts that helped turn a surplus into the deficit now weighing the nation’s economy. Cut taxes and hope the economy grows faster than predicted.
At a time when the nation is already on course to build up a debt so large that interest payments alone will begin to drown us, Mr. Romney wants to reduce taxes further, with — it now appears — no plan to make up the difference. It almost takes your breath away.
http://www.washingtonpost.com/opinions/mitt-r...
Obama's plan to cut spending - his own Dems would not vote for it. The minute Romney lay's out a total plan the Dems jump on it like maggots.
Dane Thorsen

Long Beach, CA

#8 Sep 16, 2012
Wall Street Government wrote:
Political gridlock threatens to plunge us back into recession, but instead of seeking bipartisan solutions, President Obama is passively allowing us to go over a fiscal cliff," Romney said in his weekly podcast.
August 4 - September 9 House Recess
September 15 – 18 House Recess
September 22 – 30 House Recess
Congress sure seems concerned.
Romney, who has vowed to build up the U.S. military if elected on November 6, has singled out for criticism the $54 billion in defense cuts that would kick in at year's end. He says this is no time to shrink the Pentagon's budget.
Yes it is.
Time to shrink foreign aid also.
Romney just doesn't get it. The more hopeless, useless, desperate, and pitiful Americans feel about themselves and their families the more apt they are to Vote for Anything with a D beside it's name on a Ballot.

Obama's handlers know exactly what they are doing to America.
Increasing numbers of Americans are giving up on America. Polls show they might give Obama the edge in November.
OBAMA 2012

Baldwin Park, CA

#9 Sep 16, 2012
Wait, I want to hear all about Mitts foreign policy...oh, wait, that has already blown up in his face. No one cares what Mitts has to say because he has no idea what he is doing.
OBAMA 2012

Baldwin Park, CA

#10 Sep 16, 2012
Wait, I want to hear about Mitts foreign policy. Oh, that's right, that blew up in his face. He can't run his campaign let alone the Country. His. Campaign is over no matter how much money he will try to throw at it. Let's all sit back and watch him finish himself off in the debates!
liza

Fairmont, WV

#11 Sep 16, 2012
Come on Muslims, every time Mitt tries to talk to
you, what happens? The press tells him he has no rights to say anything that doesn't coninsides with
Obama...Then we have loons like you try to convience everyone he has said things HE DIDN"T!!!
In a free country the democrates has every right and
the others do not. Why, we are as fair as any communist ....Right? Yea, I read your comments and they have NOTHING to do with anyone
haveing rights but Obama.
And we will have a fair election? Obama will
make sure of that FOR YOU......SO long,good by
freedom. Just like you voted last time, for
someone you never heard or knew anything about..
YOU still don't, but you dam well are poorer.
And your just where you want America to be.

And you want to hear what Mitt has to say.......
You want to see him kicked around more....You
want it just as it is. Your fooling only your
own and Obama. Stop the lies.. The plan Obama has
given out to you will sink us all, hope to see you
hit bottom first

“Truth to Power!”

Since: Apr 07

United States

#12 Sep 16, 2012

Obama has added over $5 TRILLION in new National Debt as President .



Obama added $3 Trillion in National Debt as a Voting Senator.


The azz hole Obama is a Debt Machine. He borrows from China at a pace that is dooming us and our children. It's time to get rid of that piece of Filthy Sh*t.



It's time for Real CHANGE for the Better. Not Obama's Worse.


Romney/Ryan 2012!!!! Jobs and A Budget For America!




senior citizen

Granite City, IL

#13 Sep 16, 2012
OBAMA 2012 wrote:
Wait, I want to hear about Mitts foreign policy. Oh, that's right, that blew up in his face. He can't run his campaign let alone the Country. His. Campaign is over no matter how much money he will try to throw at it. Let's all sit back and watch him finish himself off in the debates!
It was Obama that apologized and bowed down and kissed the Muslim's brothe hood azz that made America look weak. Obama is just like Carter - just a little darker.
JBH

Delta, Canada

#14 Sep 16, 2012
Obama is a big failure and that he is not to continue is the primary issue.
Continuance with Obama makes you doomed, and do you know that?

People of all dimensions and diversities, you have to do your jobs and figure out for yourselves.

You are asking a doctor to fully tell what illness about you without diagnosis, by telling the doctor you can't do many things, have very bad fever and cough only--on the surface alone, that you can't even eat and sleep, you need hospitalization based on knowing how bad your conditions are. The doctor needs to fully examine you first.

You know the ill economy and security are such very bad now with Obama, which can make you feel ill, don't you?

WHAT ELSE CAN YOU PEOPLE ASK FOR, AT THIS TIME SEEING ALL THE MESSES DONE BY OBAMA ALREADY?

IT IS NOT POSSIBLE WITH OBAMA ABOUT THE ECONOMY, SECURITY AND FOREIGN POLICY--PROVEN by subtraction of middle class and general people's wealth, and generating crisis in Libya,Egypt,and Pakistan and handling and so on, whereby had resulted violences against US security all over many places.

The only concern is that Romney can make the great policies with improvement in all areas, that people will have to build on faith and trust,with no need to ask too much, in order to make the possible turn around.

WHAT ELSE CAN YOU ASK FOR?
--JUST FAITH AND RELIABILITY will be good enough.

ROMNEY HAS TO TAKE A DETAIL LOOK AT THE CONDITIONS AND SHAPE OF THE ECONOMY AFTER becoming president in order to fully execute the fullness of all the aspects.
Romney should assure that social security,and welfare (until further evaluation for back-to-work programs) will not change much and other people's basic needs.

The cutting costs and expenses should be the matters of delegating to responsibilities of those to come up and provide with cost efficiency,in housing, transportation, etc. to finalize the can-do things as well.

They can assure you the numbers do work fine when all other numbers are known as well.
Then the economy basics will be vesting on encouraging private sectors with public to enhance.
They can be done with the numbers to be presenting as the guideline.

They can present an outline, without the full figures of areas to trim costs.

Romney needs specifics of the areas and (if) what Obama has done to work on upon taking presidency.

He can take a great look of them, and work from then on to remedy all which are needed,in all areas and situations,in the security and foreign policy aspects too.

What else can you ask for at this time because Obama has never been possible?

You should do your best and then and do not expect the Impossible Obama any more.

But you don't need to ask too much as Romney cannot have full everything, but will make affirmation of basic care and social security needs are there, etc.

YOU don't NEED TO ASK TOO MUCH AS EVERYTHING WILL SET IN PLACE BASED ON his known accomplishment, THE CREDIBILITY as reliability AND OF ROMNEY'S EXPERIENCE IN PRIVATE SECTOR ECONOMY in achieving good employment for many people.

But from what he says, he already gives you a lot of all the overall and outline o=f areas of economics.

What else can you do now?

IT IS IMPOSSIBLE WITH OBAMA --NO MATTER WHAT HE SAYS,AS ALL HAVE BEEN PROVEN that Obama is a big failure.

But continuance with Obama makes you doomed,and do you know that?
3 posts removed
Mothra

Phoenix, AZ

#18 Sep 16, 2012
twostroketerror wrote:
FOR SEVERAL weeks, we’ve been asking Republican presidential nominee Mitt Romney to explain how he can cut taxes, as promised, without adding to the nation’s debt, as also promised. Now he’s effectively let the cat out of the bag: He can’t....

The second obstacle, as shown by the Tax Policy Center, a joint venture of the Brookings Institution and the Urban Institute, is that Mr. Romney’s plan is mathematically impossible, even if it were politically feasible.
First, the TPC has issued a 'revised' report showing a "shortage" of $41 billion instead of $98 billion in their "analysis".

http://www.aei-ideas.org/2012/08/the-tax-poli...

Second, the TPC analysis does not consider spending cuts in their analysis.

And third, TPC uses Obama's (alleged one-time) stimulus inflated budget as their 'baseline', and then use this to determine "budget neutrality".

FY2009 federal government spending grew by 17%. Parts were due to Obama signing budget items Pelosi/Reid kicked down the road until after the 2008 elections, but a bigger part came from Obama "stimulus" that added hundreds of billions of more spending to the federal government.

And don't forget Obama's TARP spending... also included in FY2009.

TPC uses that as the new federal government baseline budget... and then attempts to show how Romney can't meet their assumptions.

Garbage in... garbage out.

“Truth to Power!”

Since: Apr 07

United States

#19 Sep 16, 2012
OBAMA 2012 wrote:
Wait, I want to hear all about Mitts foreign policy...oh, wait, that has already blown up in his face. No one cares what Mitts has to say because he has no idea what he is doing.




Did you see that Obama got our US Ambassador Murdered last week?


1st time that's happened since Jimmy Carter. Those are 2 of the Worst Presidents ya know.



Oh, Mitt Romney hasn't made any policy decisions that Killed People like Obama. Not DATS what you call blowing up in your face!
Mothra

Phoenix, AZ

#20 Sep 16, 2012
twostroketerror wrote:
If you still want to argue the validity of the Tax Policy Center, consider this:

Obama's Favorite Economic Analysis Group Claims His Budget Raises Taxes on 1 in 4 Americans

President Obama yesterday cited an "independent, non-partisan" economic study by the Tax Policy Center. The president used the group to buttress his argument against Republican presidential candidate Mitt Romney's tax plan.(This, despite the fact that a former staffer for President Obama helped produce the "independent, non-partisan" analysis.)

Nevertheless, since President Obama is relying heavily on the analysis performed by this group, it's worth considering what the Tax Policy Center has to say about Obama's own economic plan.

"President Barack Obama’s 2013 budget plan would raise taxes for 27 percent of U.S. households in 2013, far more than the administration estimates, according to a nonpartisan study," Bloomberg reported in March. "The study released today comes from the Tax Policy Center, a research group in Washington that analyzes proposals from presidential candidates in both parties. Obama focuses the tax increases in his 2013 budget on corporations and the top 2 percent of individual taxpayers. The result in the center’s study stems from the fact that taxpayers in all income brackets own parts of corporations."

The Tax Policy Center analysis, which Obama relies on to critique Romney's plan, plainly contradicts what President Obama told Ohioans at yesterday's campaign event.

"I've got a different plan for America than Mr. Romney's," Obama said yesterday. "Four years ago, I promised to cut middle-class taxes, and that’s exactly what I’ve done -- by a total of about $3,600 for the typical family. Now I want to keep income taxes exactly where they are on the first $250,000 of everybody’s income. So if your family makes under $250,000 a year -- which is 98 percent of American families -- you won’t see your income taxes increase by a single dime next year."

But, according to the Tax Policy Center, under President Obama's budget, taxes would be raised on households earning less than $10,000 (approximately 8.6 percent of those households would see taxes increased under Obama's plan), between $10,000 and $20,000 (approximately 11.9 percent),
between $20,000 and $30,000 (approximately 18.1 percent),
between $30,000 and $40,000 (approximately 22.2 percent),
between $40,000 and $50,000 (approximately 23.6 percent),
between $50,000 and $75,000 (approximately 31.6 percent),
between $75,000 and $100,000 (approximately 38.7 percent),
and between $100,000 and $200,000 (between 51.4 percent).

The Obama campaign, and the president himself, is expected to continue to rely on the findings of the Tax Policy Center to criticize Romney. But, if that's going to continue, at a certain point President Obama and his campaign will have to address why they are picking and choosing only the group's analysis that fits their narrative.

http://www.weeklystandard.com/keyword/Tax-Pol...

“Truth to Power!”

Since: Apr 07

United States

#21 Sep 16, 2012




Obama is a Complete Failure. Not only did the Azz Hole screw up the debt crisis but he is the Only Jackass Capable of Earning a US Credit DOWNGRADE!


Bush couldn't even do that!


What Filth!
2 posts removed

“Truth to Power!”

Since: Apr 07

United States

#24 Sep 16, 2012




WHERE ARE THE JOBS Blobama?



Get to work instead of your endless campaign You piece of Dogsh*t!









“I'd rather be snowmobiling”

Since: Oct 07

8120'

#25 Sep 16, 2012
senior citizen wrote:
<quoted text>
Obama's plan to cut spending - his own Dems would not vote for it. The minute Romney lay's out a total plan the Dems jump on it like maggots.
Because Rmoneys plan is impossible. The #'s simply don't add up. It's too late to slash both spending & taxes and "hope it all works out". It won't. Best people realize that, and be ready for a rough road ahead....
BTW, if "middle income" is $250,000 to Rmoney, what's "poverty" to the 1%?$75,000?$50,000? Making so little you actually have to consider giving up one of your CC memberships? Just wondering....

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