Thursday, July 7, 2011
Repubs approve 200 billion New Revenues w/ 4 trillion spending cut
NewsMax:
Kyl: GOP Agrees to Up to $200B in New Revenues
Wednesday, 06 Jul 2011 06:00 PM
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WASHINGTON - One day before a crucial U.S. budget meeting between the White House and congressional leaders, a high-ranking senator said Republicans have agreed to including significant revenue increases in a deficit-reduction framework.
"If you add up all of the revenues that we Republicans have agreed to, it's between $150 billion and $200 billion," said Senator Jon Kyl, the No. 2 Republican in the Senate.
Kyl said two possible ways to bring additional revenue to the government would be through sales of government property and additional fees for government services.
Meanwhile, House of Representatives Majority Leader Eric Cantor floated a possible tax compromise, saying Republicans could agree to closing some tax breaks in a budget deal as long as they were offset with tax cuts elsewhere.
"Any discussion about loopholes must be accompanied by offsetting tax cuts," Cantor said at a news conference.
Republicans had been adamant about tax increases not being included in a deficit-reduction deal that President Barack Obama hopes clears the way for also increasing U.S. borrowing authority.
In a lengthy speech on the Senate floor, Kyl talked about increased revenues from the sale of government assets or higher user fees.
He criticized, however, Democratic proposals to get rid of tax breaks on corporate jets or tossing an accounting method known as "last in first out" that eases business tax burdens.
Democrats say they have offered up a "menu" of revenue increases of as much as $400 billion in the deficit-reduction and debt limit talks.
If the limit on U.S. borrowing authority, now at $14.3 trillion, is not raised by the Treasury Department's August 2 deadline, there are fears the United States could either miss some debt repayments or be forced into cutting off major government benefits including Social Security checks.
Obama said such an outcome could push the United States economy into a second recession or worse.
On Thursday, Obama is scheduled to meet at 11:15 EDT with a bipartisan group of congressional leaders. Obama will push for a big agreement that could target as much as $4 trillion in savings -- double the size of what had been under discussion, according to Democratic officials. They provided no details on how they would reach that target.
© 2011 Thomson/Reuters. All rights reserved.
Kyl: GOP Agrees to Up to $200B in New Revenues
Wednesday, 06 Jul 2011 06:00 PM
More ways to share...
WASHINGTON - One day before a crucial U.S. budget meeting between the White House and congressional leaders, a high-ranking senator said Republicans have agreed to including significant revenue increases in a deficit-reduction framework.
"If you add up all of the revenues that we Republicans have agreed to, it's between $150 billion and $200 billion," said Senator Jon Kyl, the No. 2 Republican in the Senate.
Kyl said two possible ways to bring additional revenue to the government would be through sales of government property and additional fees for government services.
Meanwhile, House of Representatives Majority Leader Eric Cantor floated a possible tax compromise, saying Republicans could agree to closing some tax breaks in a budget deal as long as they were offset with tax cuts elsewhere.
"Any discussion about loopholes must be accompanied by offsetting tax cuts," Cantor said at a news conference.
Republicans had been adamant about tax increases not being included in a deficit-reduction deal that President Barack Obama hopes clears the way for also increasing U.S. borrowing authority.
In a lengthy speech on the Senate floor, Kyl talked about increased revenues from the sale of government assets or higher user fees.
He criticized, however, Democratic proposals to get rid of tax breaks on corporate jets or tossing an accounting method known as "last in first out" that eases business tax burdens.
Democrats say they have offered up a "menu" of revenue increases of as much as $400 billion in the deficit-reduction and debt limit talks.
If the limit on U.S. borrowing authority, now at $14.3 trillion, is not raised by the Treasury Department's August 2 deadline, there are fears the United States could either miss some debt repayments or be forced into cutting off major government benefits including Social Security checks.
Obama said such an outcome could push the United States economy into a second recession or worse.
On Thursday, Obama is scheduled to meet at 11:15 EDT with a bipartisan group of congressional leaders. Obama will push for a big agreement that could target as much as $4 trillion in savings -- double the size of what had been under discussion, according to Democratic officials. They provided no details on how they would reach that target.
© 2011 Thomson/Reuters. All rights reserved.
Don't mess with women... Thanks Sarah Rapp!
Subject: Don't mess with women
An old man and woman were married for many years, even though they hated each other. Whenever there was a confrontation, yelling could be heard deep into the night. The old man would shout, 'When I die, I will dig my way up and out of the grave and come back and haunt you for the rest of your life!'
Neighbors feared him. They believed he practiced magic, because of the many strange occurrences that took place in their neighborhood. The old man liked the fact that he was feared. ---Then to everyone's relief, he died of a heart attack when he was 98. His wife had a closed casket at the wake. After the burial, she went straight to the local bar and began to party, as if there was no tomorrow.
Her neighbors, concerned for her safety, asked, 'Aren't you afraid that he may indeed be able to dig his way out of the grave and haunt you for the rest of your life?'
The wife put down her drink and said, 'Let him dig. I had him buried upside down.'
And you know men won't ask for directions...
An old man and woman were married for many years, even though they hated each other. Whenever there was a confrontation, yelling could be heard deep into the night. The old man would shout, 'When I die, I will dig my way up and out of the grave and come back and haunt you for the rest of your life!'
Neighbors feared him. They believed he practiced magic, because of the many strange occurrences that took place in their neighborhood. The old man liked the fact that he was feared. ---Then to everyone's relief, he died of a heart attack when he was 98. His wife had a closed casket at the wake. After the burial, she went straight to the local bar and began to party, as if there was no tomorrow.
Her neighbors, concerned for her safety, asked, 'Aren't you afraid that he may indeed be able to dig his way out of the grave and haunt you for the rest of your life?'
The wife put down her drink and said, 'Let him dig. I had him buried upside down.'
And you know men won't ask for directions...
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