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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsA ‘fiscal cliff’ deal is near: Here are the details by Ezra Klein
All at once, a fiscal cliff deal seems to be coming together. Speaker John Boehners latest offer doesnt go quite far enough for the White House to agree, but it goes far enough that many think they can see the agreement taking shape.
Boehner offered to let tax rates rise for income over $1 million. The White House wanted to let tax rates rise for income over $250,000. The compromise will likely be somewhere in between. More revenue will come from limiting deductions, likely using some variant of the White Houses oft-proposed, oft-rejected idea for limiting itemized deductions to 28 percent. The total revenue raised by the two policies will likely be a bit north of $1 trillion. Congress will get instructions to use this new baseline to embark on tax reform next year. Importantly, if tax reform never happens, the revenue will already be locked in.
On the spending side, the Democrats headline concession will be accepting chained-CPI, which is to say, accepting a cut to Social Security benefits. Beyond that, the negotiators will agree to targets for spending cuts. Expect the final number here, too, to be in the neighborhood of $1 trillion, but also expect it to lack many specifics. Whether the cuts come from Medicare or Medicaid, whether they include raising the Medicare age, and many of the other contentious issues in the talks will be left up to Congress.
http://www.washingtonpost.com/blogs/wonkblog/wp/2012/12/17/a-fiscal-cliff-deal-is-near-here-are-the-details/
CaliforniaPeggy
(149,726 posts)This is not acceptable. I'm hoping the final details will not be so dire.
roguevalley
(40,656 posts)make us shoulder the greatest burden. What is it with Mr. Obama that he has to feel there is a compromise in every single thing? I am tired.
CaliforniaPeggy
(149,726 posts)limpyhobbler
(8,244 posts)Fridays Child
(23,998 posts)Marr
(20,317 posts)TalkingDog
(9,001 posts)n/t
rocktivity
(44,580 posts)If not, GO OFF THE CLIFF!
If Medicare needs money, lower the eligibility age. If Soc Sec needs money, get rid of the salary cap. Thank you and good night.
rocktivity
Cobalt Violet
(9,905 posts)Looks like I'll have to put my cat to sleep. I won't be able to afford his meds.
And oh no mention of any pentagon cuts. ASSHOLES!
Esse Quam Videri
(685 posts)because of the compromise.
Fumesucker
(45,851 posts)Cobalt Violet
(9,905 posts)That extra $10 a week in my miserly minimum wage check may not seem like much to anyone else but it has helped me a lot.
gkhouston
(21,642 posts)Translation: talking out of our asses.
jerseyjack
(1,361 posts)No cuts in military?
No removing the cap on SS contributions?
HiPointDem
(20,729 posts)if this is true, i hope people will get a clue. it can't stand. the average benefit *now* is $1231.
That worker would be looking at a $100 decrease in purchasing power within 10 years or less.
forestpath
(3,102 posts)It's not like President Obama would ever let them suffer!
sabrina 1
(62,325 posts)This would be an outrage and there will be huge blowback for any democrat who goes along with it.
bkkyosemite
(5,792 posts)cost of living for SS...omg ....the 1% we will get this next year won't cover the raise in medicare b premiums nor the supplemental medical insurance rate hike so far is about $30...and he wants to cut the cost of living on Social Security DAMNIT!!!!!!!!! Leave our benefits we paid for alone!
bkkyosemite
(5,792 posts)with the cost of insurances going up and the fixed income not going up enough to cover the rate increases not including car insurance and groceries etc. They are trying to kill us off before our time...I am very upset about Obama doing this to us if that is the case. Leave our Social Security and Medicare alone We paid into it...it is not an entitlement.
wildbilln864
(13,382 posts)because if you paid into it then you are entitled to it! It should not even be on the table!
bkkyosemite
(5,792 posts)bluestateguy
(44,173 posts)To pay it any attention is to give it a legitimacy it does not deserve.
My attention is on Newtown right now.
HiPointDem
(20,729 posts)workers paid in THEIR ENTIRE WORKING LIVES has to be stolen to make good the banksters' bad bets.
It's so fucking wrong.
JDPriestly
(57,936 posts)Obama just reduced the payroll tax as part of the most recent stimulus effort.
If Social Security has enough money to permit cuts to payroll taxes, why reduce payments to seniors who paid the full benefits to their parents?
This is absolutely unacceptable to this active Democrat.
Sorry, President Obama, this will hurt the poorest and sickest seniors -- those to whom a few dollars at the ends of their lives mean a lot. This will hurt nursing home care since, in addition to some Medicaid, nursing homes depend upon the Social Security benefits of their patients for revenue.
This is an unacceptable idea. It will mostly hurt the poorest and sickest.
Wealthy seniors won't feel it.
Poor seniors, those unlucky seniors who suffer from illnesses as they age (most of us) will really suffer from the loss.
Horrors! I will be calling my congressmembers tomorrow.
sasha031
(6,700 posts)This is totally unfair, very disappointed by this
We all been so focused on Newtown, then have this one slipped under the rug when we're not looking.
I'm making the phone call to tomorrow.
sunnystarr
(2,638 posts)is because the average seniors and soon-to-be seniors across our nation won't understand what chained CPI means and what it will do to future benefits. So they expect limited political fallout since the reality won't settle in for years to recipients.
Sold out again.
Skittles
(153,212 posts)kath
(10,565 posts)The concept of it happening under a so-called "Democratic" administration would have been totally unthinkable not that long ago.
AAAAAAARRRRRRRRGGGGGGHHHHHHH.
iemitsu
(3,888 posts)what else he does he will be remembered for that alone.
And it won't be just the racists who hate him for doing it.
JaneyVee
(19,877 posts)amborin
(16,631 posts)why is Obama doing this? i really held out hope that his second term would be different, now that he doesn't need
to worry about re-election.
this is a nightmare
unacceptable
horrible
Rethugs are laughing their heads off
Fumesucker
(45,851 posts)amborin
(16,631 posts)BlueStreak
(8,377 posts)RegieRocker
(4,226 posts)if they do anything to SS or Medicare. If they do I want all the money I've put in with interest. Then they can shut it down. I am tired of this crap.
Faryn Balyncd
(5,125 posts)HiPointDem
(20,729 posts)DJ13
(23,671 posts)Can you imagine how many years in a row they can claim theres no inflation with the chained CPI?
lob1
(3,820 posts)SidDithers
(44,228 posts)Sid
Fumesucker
(45,851 posts)Why not try a little empathy for once?
Marr
(20,317 posts)... turns out to be LESS than it would by simply going off that "fiscal cliff"?
robinlynne
(15,481 posts)John2
(2,730 posts)Democrats in the Senate. Obama can't do anything without them. Instead of complaining, you guys should be calling your grass roots organizations and lay the line down to those Democrats in the Senate about your positions. That is where the pressure needs to come from. Just let them know if they go along with this, they are through. I rather go off the Cliff then accept this crap!. And I gives a dam about their military expansionism. As long as I'm in the country, i'm safe enough and can defend it. Our Constitution doesn't say anything about nation building or supporting empires.
Honeycombe8
(37,648 posts)be included in the budget negotiations. None!
nadinbrzezinski
(154,021 posts)Mel Content
(123 posts)especially when they put a DINO in the white house.
Tierra_y_Libertad
(50,414 posts)At least, that's what some here assure us of.
pangaia
(24,324 posts)madfloridian
(88,117 posts)and that angers me.
HiPointDem
(20,729 posts)DCBob
(24,689 posts)Cuts are inevitable. The question is how severe since cuts in govt programs could send us back into a recession.
I trust the President on this one as its a tremendously complex issue with lots of moving parts. I believe he will do what's best for the country.