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"Government is not the solution…it is the problem" -Ronald Reagan



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Obama’s ‘Compromise’ is based on jealousy of the rich

Posted by Stephen on July 26, 2011

Blame the rich! Don’t bother letting people know that the tax rate for corporations is higher in the U.S. then any place in the world. Don’t bother reminding people that sole-proprietorships are the job creators and that they pay taxes as individuals; not businesses.

No, don’t waste the time of the common man…just blame the rich and redistribute their wealth because that’s “patriotic.”

Thank goodness there are some in congress that are standing up against this socialistic, arrogant, incompetent and reckless path that Obama is determined to force America to stay on.

Newsmax.com reported that there was “a blunt challenge to President Barack Obama, House Republicans drafted legislation Monday to avert a threatened Aug. 2 government default — but along lines the White House has already dismissed.”

U.S. financial markets shrugged off the uncertainty.

Obama stated that “Compromise has become a dirty word,”

The GOP House bill reportedly provides an immediate $1 trillion increase in the government’s $14.3 trillion debt limit in exchange for $1.2 trillion in cuts in federal spending.

The measure also includes a requirement that Congress find a second round of spending cuts of $1.8 trillion or more in 2012, which would trigger an additional $1.6 trillion in increased borrowing authority.

While the bill shows compromise by conservatives, the two-step approach violates Obama’s insistence that lawmakers avoid a politically charged rerun next year in the middle of his 2012 election campaign.

At stake is the chance the country will default. Newsmax.com reports that, “without signed legislation by day’s end on Aug. 2, the Treasury will be unable to pay all its bills, possibly triggering an unprecedented default that officials warn could harm an economy struggling to recover from the worst recession in decades.”

The August 2nd deadline has set off an epic battle of ideology between the two parties in advance of the 2012 election where nothing less than the White House and congressional control will be at stake.

In a race to the microphones and possible public support, Senate Democratic leaders called a news conference to announce their own plans.

Newsmax.com also reports that “Senate Majority Leader Harry Reid, D-Nev., has been working on a fallback bill that officials said would cut $2.7 trillion in federal spending and raise the debt limit by $2.4 trillion in one step — enough borrowing authority to meet Obama’s bottom-line demand.”

It seems, though, that Democrats are willing to avoid some of Obama’s demands.

Neither Boehner’s nor Reid’s plans included additional revenue in the form of new or increased taxes.

In remarks during the day, the president renewed his call for a balanced approach to cutting deficits that includes both spending cuts and higher taxes.

Obama continued his long battle of class warfare by calling for condemnation of the successful job creators stating that, “The wealthy and big corporations have to ‘pay their fair share, too.’

An important element in the GOP plan for the American people requires lawmakers in both houses to vote later this year on a constitutional amendment requiring a balanced federal budget.

Just last week Democrats in the Senate rejected a call for a balanced budget amendment. In the name of economic security for America will the Democrats be willing to allow the people to vote on such an amendment? Considering their leadership, which includes Obama, Pelosi and Reid, it is doubtful since their belief system is firmly committed to Socialism.

Not surprising, Obama promised to veto that original bill even before the House voted on it. While the House will put forth their fourth proposal, Obama has made it clear that ‘compromise’ is a word, and a philosophy, he knows nothing about.

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