Fiscal Cliff: The Remix

House Republicans,  in an effort to thwart the effects of another debt showdown this summer, passed a bill Wednesday to protect Social Security recipients and investors in Treasury bonds if the government hits its borrowing limit. According to the Associated Press, the House Ways and Means Committee passed the bill exempting interest and principal payments on Treasury bonds from the statutory debt limit as well as interest payments to Social Security trust funds. The bill passed 22 to 14 down party lines with Republicans in favor and Democrats opposed, while the full House will take up the bill after Congress returns from next week’s vacation. However, democrats are expected to block the bill in the Senate. Republicans believe the bill could help avoid a historic default even if the debt limit does not increase due to Congress and President Obama. According to Rep. Paul Ryan, R-Wis., “The whole purpose of this bill is to take default off the table,” said Rep. Regardless of the political hysterics in Washington, we will not default.” Democrats believe the bill prioritizes payments to foreign investors over funding domestic programs such as veterans, soldiers, students and elderly and calling it “Pay China First Act.” According to AP, Rep. Joseph Crowley, D-N.Y. commented, “Where in the bill are the benefits are veterans protected? Is there language protecting Medicare payments and seniors in this bill? Do they get top billing over foreign banks? This bill will do nothing to lower our debt but it will make sure that foreign banks in Switzerland and China are paid.” In January, Congress suspended borrowing limit until May 18 however the Treasury wants to take action to delay default until late summer in August. The consequences of no debt limit increase could be another showdown over government spending and borrowing leading to a similar problem as in July of 2011 when Congress took the federal government to the brink of default and received a downgraded credit rating for the first time from major rating agencies. The issues on the table have become toxic since even leading to pettiness in last year’s congressional elections where both parties pointed out how many times their opponents voted for an increase in debt limits which use to be a routine vote according to the Associated Press.

Sequester Cuts Could Force Army To Extend Afghanistan Tours, Deploy Insufficiently Trained Troops

Sequester Cuts Could Force Army To Extend Afghanistan Tours, Deploy Insufficiently Trained Troops.

With the world financial crisis taking its toll on our neighbors across the Atlantic, the United States is struggling to keep its own economy afloat and cutting back on the military is not the way to do it. The government does not pay the men the women of our country enough to ask them to do more for our country than the country does for them. The government h made too many promises it can’t keep and doing nothing to protect its citizen or for that matter the men and women who sacrifice their lives to protect the lives of other. On Friday, General Raymond Odierno, the Army chief of staff, said that soldiers deployed to Afghanistan next year may see their tours extended due to budget cuts that will limit training brigades to replace them. A number of combat brigades will deploy later this year and next year even as the war winds down for the U.S.

The Army right now is facing a shortfall of $8 billion in operation funding for Afghanistan, while an additional $5.4 billion in cuts if Congress cannot resolve the budget standoff and automatic reductions called a sequester goes into effect. On Friday Rep. Howard McKeon, the Republican chairman of the House Armed Service Committee, said that the sequester will go into effect March 1 that triggers $46 billion in automatic cuts to the Pentagons budget through September. “I think it’s going to happen,” McKeon told reporters. “We have just not been able to get past the politics of it to really focus in on the devastating effects.”

This week, President Obama said he would cut the size of U.S. forces roughly in half by next year as their are currently 66,000 U.S. troops in the war zone meaning 34,000 will be withdrawn by next year. In 2007, the Army extended deployments from a year to 15 months to meet the demands of the Iraq war and then President Bush. When brigades returned home however, they were ordered to deploy again 12 month later leading many leaders to worry about the forces being strained to the breaking point. Over time, the Iraq war ended and the deployment times were scaled back to a year and most are nine month long. Right now the only units scheduled to deploy are the 4th Brigade and 3rd Infantry Division, based at Fort Stewart, Ga. later this spring, but the Army has not announced what units will go to Afghanistan later in the summer in fall.

Haley Barbour On Taxes: I’d Raise The Top Rates In Exchange For Reform

Haley Barbour On Taxes: I’d Raise The Top Rates In Exchange For Reform.

This is the first reasonable Republican since the fiscal cliff subject has come up. Gotta read the story to find out what his plan is and why. It makes a lot of sense.

Dana Bagby, Virginia Woman, Owes $15,000 Utility Bill, City Says Pay Up (VIDEO)

 

Dana Bagby, Virginia Woman, Owes $15,000 Utility Bill, City Says Pay Up (VIDEO).

Most messed up story I have read in a long time. Read it and it will make you mad too. Tell me what you think.

Obama Bloomberg Interview: Boehner’s Plan ‘Still Out Of Balance’

Obama Bloomberg Interview: Boehner’s Plan ‘Still Out Of Balance’.

We are getting closer to no solution and we are about to fall off the fiscal cliff. Everyone needs to put their egos aside and work it out. Read more about this problem above and give me your thoughts.