The theme of the World Economic Forum being held in Davos, Switzerland, is the polar opposite of the results they will achieve if they are successful in reaching its goal of world government.
Despite tough talk from self-proclaimed fiscal conservatives in the United States House of Representatives on out-of-control government spending, House Republicans passed a bill that permits the president a three-month hike in the $16.4 trillion debt ceiling. The vote on measure passed 285 to 144, with more Democrats voting against it than Republicans. The agreement has provoked anger from conservatives who believe the GOP has failed to maintain fiscal conservatism by caving on the debt ceiling, however temporary, without securing any budget cuts.
Calling it a debt limit “suspension,” the House voted today to pass the "No Budget, No Pay Act," a measure that will allow the federal government to continue to spend until May 19, at which time it will consider the issue once again. It also takes away any threat of a government shutdown which the GOP initially considered as a way to force the Obama administration to agree to spending cuts. At least for the moment.
House Republicans have decided to pass on a stand-off against the White House and Democratic Senate on the looming national debt limit fight, choosing instead to insist upon an unconstitutional measure denying Senators federal pay until the Senate passes a budget.
Yes, the U.S. government did at one time run large budget surpluses, and the revenue was generated without resorting to an income tax.
The Conservative Action Project issued a memo to GOP leaders to stand firm on the debt ceiling issue and demand that the White House agree to spending cuts first. That strategy is likely to have as much success as the last debt ceiling confrontation did in 2011: None.
On the night of January 15, the House of Representatives passed a bill appropriating $50.5 billion in emergency relief funds for victims of last October’s Hurricane Sandy. The legislation, H.R. 152, “Disaster Relief Appropriations Act, 2013,” sponsored by Rep. Harold Rogers (R-Ky.) passed by a vote of 241-180. A total of 192 Democrats and 49 Republicans voted in support of the measure, with 179 Republicans and one Democrat opposed.
By official projections, President Obama for eight years is firmly on track to more than double the amount of federal debt incurred during Bush’s eight years. All the news, however, isn’t bad.
At President Obama’s final press conference of his first term held on Monday, he made clear his intention not to negotiate with the Congress over the debt ceiling.