Pronk Pops Show 54, November 16, 2011: Segment 2, Super Committee/Congress Is Neither Super Nor Congressional–Cut $1,000 Billion In Fiscal Year 2013 Budget And Pass FairTax Or You Are Fired!–Videos

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Pronk Pops Show 54:November 16, 2011

Pronk Pops Show 53:November 9, 2011

Pronk Pops Show 52:November 2, 2011

Pronk Pops Show 51:October 26, 2011

Pronk Pops Show 50:October 19, 2011

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Segment 2, Super Committee/Congress Is Neither Super Nor Congressional–Cut $1,000 Billion In Fiscal Year 2013 Budget And Pass FairTax Or You Are Fired!–Videos

Ron Paul: Raising Taxes On Productive Businesses Would Make Our Problems Worse!

Divider in Chief… Obama Rushes to Blame GOP for Super Committee Failure

Gingrich on Super Committee: ‘This Is Hopeless’

Breaking: Super Committee Fails To Reach Debt Deal

The Super Congress Was Harry Reids Idea,Get Rid Of McConnell Too

DEMS WALK AWAY FROM SUPER COMMITTEE November 09, 2011

Ron Paul “The Super Congress Will Not Contemplate Maybe We Spend Too Much Overseas”

For ‘Super Committee’, time runs short

Deficit Super Committee Stuck in Stalemate as Deadline Nears

Super Committee Nonsense | THE PLAIN TRUTH by Judge Napolitano 11/14/11

Sen. Pat Toomey on Fox News Sunday

Ron Paul “We Have To Cut Spending! That For Me Is Top Of The List”

Ron Paul: Super Congress “Monstrous,” Unconstitutional?

Newt Gingrich: Super Committee Is Washington’s Dumbest Idea

What Will The Super Congress Accomplish? (Besides Destroying The Constitution)

Ron Paul: “Super Congress” Is Part of a Dangerous Trend

Is Super Congress Constitutional?

Super Committee: Already Bought?

Recent US Federal Deficit Numbers

Obama Deficits

Bush Deficits

FY 2012: $1,101 billion

FY 2009: $1,413 billion

FY 2011: $1,299 billion

FY 2008: $248 billion

FY 2010: $1,293 billion

FY 2007: $161 billion

The federal deficit is the amount each year by which federal outlays in the federal budget exceed federal receipts. But the gross federal debt increases each year by substantially more than the amount of the deficit each year. That is because a substantial amount of federal borrowing is not counted in the budget. See here.

http://www.usgovernmentspending.com/federal_deficit_chart.html

Joint Statement of Timothy Geithner, Secretary of the Treasury, and Jacob Lew, Director of the Office of Management And Budget, on Budget Results for Fiscal Year 2011

Table 1. Total Receipts, Outlays, and Deficit (in billions of dollars)
Receipts
Outlays
Deficit
FY 2010 Actual
2,162
3,456
-1,294
Percentage of GDP
15.1%
24.1%
9.0%
FY 2011 Estimates:
2012 Budget
2,174
3,819
-1,645
2012 Mid-Session Review
2,314
3,630
-1,316
FY 2011 Actual
2,302
3,601
-1,299
Percentage of GDP
15.4%
24.1%
8.7%
FINANCIAL MANAGEMENT SERVICE
                                                  STAR - TREASURY FINANCIAL DATABASE
             TABLE 1.  SUMMARY OF RECEIPTS, OUTLAYS AND THE DEFICIT/SURPLUS BY MONTH OF THE U.S. GOVERNMENT (IN MILLIONS)

                                                        ACCOUNTING DATE:  10/11

   PERIOD                                                                     RECEIPTS                OUTLAYS    DEFICIT/SURPLUS (-)
+  ____________________________________________________________  _____________________  _____________________  _____________________
   PRIOR YEAR

     OCTOBER                                                                   145,951                286,384                140,432
     NOVEMBER                                                                  148,970                299,364                150,394
     DECEMBER                                                                  236,875                315,009                 78,134
     JANUARY                                                                   226,550                276,346                 49,796
     FEBRUARY                                                                  110,656                333,163                222,507
     MARCH                                                                     150,894                339,048                188,154
     APRIL                                                                     289,543                329,929                 40,387
     MAY                                                                       174,936                232,577                 57,641
     JUNE                                                                      249,658                292,738                 43,080
     JULY                                                                      159,063                288,439                129,376
     AUGUST                                                                    169,246                303,388                134,143
     SEPTEMBER                                                                 240,153                301,699                 61,546

       YEAR-TO-DATE                                                          2,302,495              3,598,086              1,295,591

   CURRENT YEAR

     OCTOBER                                                                   163,072                261,539                 98,466

       YEAR-TO-DATE                                                            163,072                261,539                 98,466

http://www.fms.treas.gov/mts/mts1011.txt

Background Articles and Videos

Lawmakers Trade Blame as Deficit Talks Crumble

By ERIC LIPTON

“…Democrats blamed the Republicans for their unwillingness to yield on a no-new-taxes pact they signed at the request of a conservative antitax group, arguing that the American public realizes that no grand deal could be reached without a combination of spending cuts and new tax revenue.

“As long as we have some Republican lawmakers who feel more enthralled with a pledge they took to a Republican lobbyist than they do to a pledge to the country to solve the problems, this is going to be hard to do,” Senator Patty Murray, Democrat of Washington and the committee’s co-chairwoman, said on CNN’s “State of the Union.”

But Representative Jeb Hensarling, Republican of Texas, the co-chairman, said it was the Democrats’ inflexibility that had caused the impasse, particularly when it came to agreeing to major money-saving changes in social programs like Medicare and Social Security.

“Unfortunately, what we haven’t seen in these talks from the other side is any Democrats willing to put a proposal on the table that actually solves the problems,” Mr. Hensarling said on “Fox News Sunday.”

At the White House, officials made a final effort to spur the committee on to a solution. “Avoiding accountability and kicking the can down the road is how Washington got into this deficit problem in the first place,” a White House spokeswoman, Amy Brundage, said in a statement. “So Congress needs to do its job here and make the kind of tough choices to live within its means that American families make every day.” …”

“…The Democrats said that the refusal of the Republicans on the bipartisan committee to agree to allow tax cuts first passed during the Bush administration to expire at the end of 2012 — which would be one way to raise new revenue, to match spending cuts the Democrats have agreed to accept — was to blame.

“If they will give up their insistence on the Bush tax cuts, we can get this done,” Mr. Kerry said on “Meet the Press.”

But Republicans countered that with the economy already weak, Congress would do more harm if it agreed to a deal that would significantly increase federal revenue, implying that the package that the Democrats had pushed called for at least $1 trillion in new taxes.

“You can’t grow if you raise taxes in the middle of a recession,” Senator Jon Kyl, Republican of Arizona, a committee member and the second-ranking Republican in the Senate, said, also on “Meet the Press.”

With failure looming, the focus was increasingly turning to how to perhaps change the mix of automated budget cuts before they take effect in January 2013.

The Congressional Budget Office has estimated that domestic programs — including education, transportation and immigration — would be cut by 7.8 percent in 2013 and that Medicare spending would fall by about 2 percent. The biggest cut would be to defense programs, which would be reduced by about 10 percent.

But several large programs would be exempt from automatic cuts, including Social Security, Medicaid, veterans’ benefits and various antipoverty programs, based on the agreement Congress and the White House reached in the summer. This is partly why certain Democrats in recent weeks have become less willing to compromise — the automated cuts, they concluded, may be better than anything they could negotiate. …”

http://www.nytimes.com/2011/11/21/us/politics/lawmakers-concede-budget-talks-are-close-to-failure.html?_r=2&partner=MYWAY&ei=5065

Related Posts On Pronk Pops

Pronk Pops Show 54, November 16, 2011: Segment 0: Ron Paul On Bill Bennett’s Morning In America Show–6-8 A.M Eastern Time,Wednesday, November 16, 2011?–Talk Radio–Videos

Pronk Pops Show 54, November 16, 2011: Segment 1: CBS–Communists, Bolshevik, Socialists–Progressives All–Limited Ron Paul To 90 Seconds And Pulls Poll In Republican Presidential Debate On Foreign Policy–Warfare and Welfare Washington vs. Peace and Prosperity People–Videos

Pronk Pops Show 54, November 16, 2011: Segment 2, Super Committee/Congress Is Neither Super Nor Congressional–Cut $1,000 Billion In Fiscal Year 2013 Budget And Pass FairTax Or You Are Fired!–Videos

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