The conversation around Speaker of the House John Boehner’s dinner table may be going up in smoke in a few weeks.
Sequestration day has arrived in Washington, D.C. and by 11:59 Friday night, the White House will be forced to order across-the-board, indiscriminate budget cuts in European-style austerity that could plunge the United States back into recession.
While much of the focus with the ongoing austerity crisis on Capitol Hill has been overall tax rates, both President Barack Obama and Republican Speaker of the House John Boehner have agreed on one tax principle: ending the payroll tax holiday.
President Barack Obama cut his vacation short Wednesday and returned to Washington to continue negotiations on the rapidly approaching fiscal cliff. But, even with that move, a growing number of Americans believe no deal will be reached and the blame is falling on the GOP.
The nation continued to edge toward a massive austerity crisis after Speaker of the House John Boehner failed to get enough of his caucus in the House of Representatives to agree to a tax plan to avert the so-called “fiscal cliff.”
While the Mayans may have predicted the end of the world for December 21, financial advisors, politicians, and taxpayers are focused on January 1, 2013, when the nation may plunge off the fiscal cliff into a full-fledged austerity crisis.
As the nation moves closer and closer to the “fiscal cliff,” the public is making it known who they will blame if the nation falls off the cliff and into unprecedented austerity.
Over the weekend, seven advertisers decided that controversial conservative radio host Rush Limbaugh’s latest comments calling a student a “slut,” a “prostitute,” and asking her to produce a sex tape were too much and dropped their sponsorship of his show.
A high-stakes standoff in Congress could end up with thousands of Floridians losing money in their paycheck and hitting first-time home buyers in the area.
The GOP rode to power in the House of Representatives on a promise to lower budget deficits and cut government waste; but their first legislative move may explode deficits, according to the Congressional Budget Office.