Friday, September 7, 2012

Barack Obama - Above a Budget, Above the LAW

 No-Budget Barack Obama continues his failed leadership in fiscal management with the latest dodge in accountability for ANY SPENDING in his term. Propaganda using tired Keynesians platitudes continue to dominate the 'discussion, without the counterargument ever being rationally presented. ' ------------------------------------------------------------------------------------------------------------------



Deadline nears PASSES for White House report on possible spending cuts


WASHINGTON (Reuters) - A deadline loomed on Thursday for the Obama administration to provide details on mandatory spending cuts if Congress fails to reach a deficit reduction deal by year end, but the White House has not said when it will release the report. President Barack Obama, who on Thursday night accepted the Democratic Party nomination for a second term, is required to list how the first segment of $1.2 trillion in automatic spending cuts over 10 years would affect the government. Under a law he signed on August 7, he was supposed to do that within 30 days Deadline nears for White House report on possible spending cuts


White House Report on Spending Cuts Expected Next Week


"WASHINGTON – The White House missed a deadline Friday to submit a report to Congress on the impact of looming spending cuts for defense and other domestic programs, though it is expected to issue the report next week.
The report could frame the debate after the November elections over what policy makers should do to address spending cuts and tax increases slated to begin in January 2013. Economists have predicted that if tax increases and spending cuts go into effect, the country could tip back into a recession.

Last year Congress passed a law directing $1.2 trillion in spending cuts to begin in January unless lawmakers and the White House can find other changes to reduce the deficit. The cuts to government programs are expected to be blunt and widespread, but so far the Obama administration hasn’t provided details.
The Sequester Transparency Act, passed on Aug. 7, gave the White House 30 days to issue the report and detail what programs would be cut and what the impact would be.
“Given the time needed to address the complex issues involved in preparing the report, the administration will be submitting that report to Congress late next week,” White House press secretary Jay Carney said.
The cuts are supposed to be split between military and domestic programs and could end up reducing military spending by more than 10. Pentagon officials have said the reductions would be “devastating.” Democrats and Republicans have sparred over how best to avoid the reductions, but so far they haven’t come close to an agreement."

 “He has a responsibility and legal obligation to tell the American people how he plans to implement, or replace, these devastating cuts,” House Speaker John Boehner (R., Ohio.) said.


Four years without a budget and ZERO media criticism. False parliamentary maneuvers disguised as a budget still aren't enough, even according to the Senate parliamentarian.   Barack Obama, Above the LAW.

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