Archives For White House

Amid all of the bad ideas floated by House Republicans during the shutdown fight, one seemed to actually be pretty good: repealing the medical device tax.

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Now that President Obama is on the campaign for corporate tax reform, some small business leaders are trying to rehash arguments from the fiscal cliff negotiations over individual income tax rates.

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It’s no surprise that acting IRS Commissioner Steven T. Miller submitted his resignation this week. Many were calling for his head, others for the obliteration of the agency altogether. Miller’s departure is the first of many slaps on the wrist for an agency struggling to wipe away the stain on its already fragile reputation.

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Here’s a tip for all you tax payers out there: Donating money to help reduce the federal debt counts as one of the more unusual charitable tax deductions. Continue Reading…

There is no perfect solution to our fiscal problems. However, we believe strongly and sincerely that an agreement on a comprehensive plan to bring our debt under control is possible if both sides are able to put their sacred cows on the table in the spirit of principled compromise. — Erskine Bowles and Alan Simpson in “A Bipartisan Path Forward to Securing America’s Future” — Feb. 2013

Erskine Bowles and Alan Simpson threw a new sequestration alternative into the mix today.  The leaders of Obama’s 2010 fiscal commission released a framework outlining $2.4 trillion in deficit reduction; greater than the White House goal of $1.5 trillion, but not enough to satisfy the GOP’s lust for getting a balanced budget in 10 years (necessitating more than $4 trillion/10 years).

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House Lawmakers Pass Three-Month Increase in Debt Ceiling

04-08-11 at 18-32-29

(Photo credit: SpeakerBoehner)

WASHINGTON, Jan 24 — A bill to raise the nation’s borrowing authority that includes a provision to require Senate lawmakers to pass a budget or lose their paycheck passed the House on January 23. House lawmakers passed the No Budget, No Pay Bill of 2013 (HR 325) by a vote of 285 to 144. The legislation, which raises the debt ceiling through May 19, would allow lawmakers time to negotiate spending cuts required under the Budget Control Act. Continue Reading…

(Reuters)
With speculation rife that a former federal prosecutor may be tapped to become the next SEC chairman, investors and businesses are reacting cautiously to the prospect of a new law enforcement regime on Wall Street. Continue Reading…

Obama Vetoes Death Star

President Obama making like a Jedi

Over the weekend the White House confirmed that it will not spend $852 quadrillion to begin construction on a Death Star (the most powerful weapon in the universe)… Disturbing, is this move by President Obama.

But actually.  The  Obama administration launched a website in 2011 called We the People with the goal of engaging citizens in policy discussions by pledging to respond to any petition with more then 25,000 signatures.  On Nov. 14, a petition was launched to “Secure resources, funding and begin construction of a Death Star by 2016.” It reads:

By focusing our defense resources into a space-superiority platform and weapon system such as a Death Star, the government can spur job creation in the fields of construction, engineering, space exploration, and more, and strengthen our national defense.

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