The Pronk Pops Show 563, October 28, 2015, Story 1: American People Can Longer Afford The Democratic and Republican Party’s Warfare and Welfare State — End The Two Party Tyranny — Establish A New Independent Constitutional Party Supporting Balanced Budgets and Limited Government — Videos

Posted on October 28, 2015. Filed under: 2016 Presidential Campaign, 2016 Presidential Candidates, American History, Banking System, Ben Carson, Blogroll, Breaking News, Budgetary Policy, Business, College, Communications, Computers, Congress, Constitutional Law, Corruption, Crime, Defense Spending, Economics, Education, Empires, Employment, Federal Government, Fiscal Policy, Government, Government Spending, Health Care, Health Care Insurance, Hillary Clinton, History, House of Representatives, Illegal Immigration, Immigration, Labor Economics, Legal Immigration, Medicare, Monetary Policy, News, Philosophy, Photos, Politics, Radio, Raymond Thomas Pronk, Scandals, Senate, Social Security, Tax Policy, Welfare Spending | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

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The Pronk Pops Show Podcasts

Pronk Pops Show 563: October 28, 2015 

Pronk Pops Show 562: October 27, 2015 

Pronk Pops Show 561: October 26, 2015 

Pronk Pops Show 560: October 23, 2015

Pronk Pops Show 559: October 22, 2015 

Pronk Pops Show 558: October 21, 2015

Pronk Pops Show 557: October 20, 2015 

Pronk Pops Show 556: October 19, 2015

Pronk Pops Show 555: October 16, 2015

Pronk Pops Show 554: October 15, 2015 

Pronk Pops Show 553: October 14, 2015

Pronk Pops Show 552: October 13, 2015 

Pronk Pops Show 551: October 12, 2015 

Pronk Pops Show 550: October 9, 2015 

Pronk Pops Show 549: October 8, 2015 

Pronk Pops Show 548: October 7, 2015 

Pronk Pops Show 547: October 5, 2015

Pronk Pops Show 546: October 2, 2015 

Pronk Pops Show 545: October 1, 2015 

Pronk Pops Show 544: September 30, 2015 

Pronk Pops Show 543: September 29, 2015 

Pronk Pops Show 542: September 28, 2015 

Pronk Pops Show 541: September 25, 2015 

Pronk Pops Show 540: September 24, 2015 

Pronk Pops Show 539: September 23, 2015 

Pronk Pops Show 538: September 22, 2015 

Pronk Pops Show 537: September 21, 2015 

Pronk Pops Show 536: September 18, 2015 

Pronk Pops Show 535: September 17, 2015 

Pronk Pops Show 534: September 16, 2015 

Pronk Pops Show 533: September 15, 2015  

Pronk Pops Show 532: September 14, 2015 

Pronk Pops Show 531: September 11, 2015

Pronk Pops Show 530: September 10, 2015 

Pronk Pops Show 529: September 9, 2015 

Pronk Pops Show 528: September 8, 2015 

Pronk Pops Show 527: September 4, 2015 

Pronk Pops Show 526: September 3, 2015  

Pronk Pops Show 525: September 2, 2015 

Pronk Pops Show 524: August 31, 2015  

Pronk Pops Show 523: August 27, 2015  

Pronk Pops Show 522: August 26, 2015 

Pronk Pops Show 521: August 25, 2015 

Pronk Pops Show 520: August 24, 2015 

Pronk Pops Show 519: August 21, 2015 

Pronk Pops Show 518: August 20, 2015  

Pronk Pops Show 517: August 19, 2015 

Pronk Pops Show 516: August 18, 2015

Pronk Pops Show 515: August 17, 2015

Pronk Pops Show 514: August 14, 2015

Pronk Pops Show 513: August 13, 2015

Pronk Pops Show 512: August 12, 2015

Pronk Pops Show 511: August 11, 2015

Pronk Pops Show 510: August 10, 2015

Pronk Pops Show 509: July 24, 2015

Pronk Pops Show 508: July 20, 2015

Pronk Pops Show 507: July 17, 2015

Pronk Pops Show 506: July 16, 2015

Pronk Pops Show 505: July 15, 2015

Pronk Pops Show 504: July 14, 2015

Pronk Pops Show 503: July 13, 2015

Pronk Pops Show 502: July 10, 2015

Pronk Pops Show 501: July 9, 2015

Pronk Pops Show 500: July 8, 2015

Pronk Pops Show 499: July 6, 2015

Pronk Pops Show 498: July 2, 2015

Pronk Pops Show 497: July 1, 2015

Story 1: American People Can Longer Afford The Democratic and Republican Party’s Warfare and Welfare State — End The Two Party Tyranny — Establish A New Independent Constitutional Party Supporting Balance Budgets and Limited Government — Videos

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Budget-Debt Ceiling Package Passes in House

The House passed a two-year budget and debt ceiling agreement on a 266-167 vote. The Senate is slated to take up the bill right away and move to final passage, likely this weekend, clearing it for the signature of President Barack Obama. The White House supports the measure and has urged its passage in Congress.

Budget Deal Faces Last-minute Protest by Republicans

Boehner announces that a budget agreement has been reached

Politics Panel: Is this Boehner’s final middle finger to the Tea Party?

Paul Ryan Now Promising No Amnesty Until 2017, After Obama Leaves Office

The Hard Line | Dick Morris analyzes recent ads by the Ben Carson, Jeb Bush and John Kasich campaign

EPA weighs environmental toll of ethanol with proposed cuts

Milton Friedman – The Federal Reserve Caused Great Depression

Milton Friedman – Abolish The Fed

Milton Friedman On John Maynard Keynes

Crony Capitalism Revisited (Is Keynesianism What We Think It Is?) | Hunter Lewis

Budget Deal Stirs Anger on the Right

Two-year plan reduces risk of a government shutdown

By KRISTINA PETERSON and NICK TIMIRAOS

Congressional leaders worked Tuesday to marshal support for a sweeping budget and debt deal that offered an end to fiscal fights with President Barack Obama but opened up top Republicans to criticism from conservatives, including GOP presidential hopefuls.

The House is expected to pass the legislation as soon as Wednesday, eliminating the risk that the government might default on its debt until after the next presidential election and increasing government spending for the next two years. The bill is likely to then pass the Senate only days before Nov. 3, after which the Treasury Department has said it wouldn’t be able to pay all its bills unless Congress acted to raise or extend the federal debt limit.

The agreement, which boosts federal spending above limits established in a 2011 deal and in effect since 2013, would deliver a policy victory to the administration and congressional Democrats because it increases domestic spending on par with that for the Pentagon. It also revealed the GOP split over spending levels, infuriating conservatives, who accused congressional leaders of caving to the administration and its allies on Capitol Hill during House Speaker John Boehner’s final days in office.

Congressional leaders and the White House struck a tentative budget deal that would raise the debt ceiling and reduce the risk of a government shutdown. WSJ’s Shelby Holliday highlights some of the key terms of the agreement.

“John Boehner’s golden parachute will certainly cement his legacy, but it is a slap in the face to conservatives who rose up across the country in 2014 on a promise that we would stop the disastrous runaway spending and debt in Washington,” said Sen. Ted Cruz (R., Texas), who is running for president.

For Republicans, the deal offered a path for the GOP-controlled Congress to avert blame from a potential default, instead securing at least some policy goals as a condition for raising the borrowing limit.

If the new accord passes Congress, it would become the second two-year agreement to relax the sequester, a series of automatic, across-the-board cuts that took effect in 2013.

Both deals came together carrying an unusual political price. The first was negotiated two years ago after a 16-day partial government shutdown. The second was struck only after Mr. Boehner announced his resignation last month. In a twist of political irony, Mr. Boehner’s retirement liberated him to cut his final deal, infuriating the same lawmakers who helped bring his quarter-century congressional career to an end by Friday.

“Sometimes, the clock works against you, sometimes the clock works in your favor,” Mr. Boehner told reporters Tuesday, as he dismissed his critics. “In a town that isn’t known for a lot of bipartisanship, you’re going to see bricks flying from those that don’t like the fact that there’s a bipartisan agreement. But there is. It’s a solid agreement.”

Conservatives criticized the deal as the product of collusion between establishment Republicans and the White House.

“Another last-minute, backroom spending deal by the White House and congressional leaders that busts the budget caps and allows unlimited debt for the next 18 months,” said Rep. Jim Jordan (R., Ohio), chairman of the House Freedom Caucus, a group of conservatives. “No wonder so many Americans distrust Congress.”

If approved, the deal would defuse two of the most contentious issues faced by Congress, easing the difficult job falling on Rep. Paul Ryan (R., Wis.), expected to be elected the next House speaker later this week.

Reflecting the frustration of conservatives he must soon lead, Mr. Ryan was publicly critical of the secretive process that left lawmakers deciding whether to support a far-reaching bill they had no hand in helping shape. However, he said Wednesday morning that he would reluctantly support the deal.

The deal reached late Monday effectively raises the debt ceiling through mid-March 2017 and boosts spending by $50 billion in fiscal year 2016 and $30 billion in fiscal 2017. Lawmakers still would need to pass detailed spending bills for the next fiscal year by mid-December, likely in a combined measure.

Boehner’s Plan to ‘Clean Out the Barn’

As John Boehner exits to make way for a new Speaker of the House, he is considering some politically contentious financial measures that would attempt to fix the budget and raise the debt ceiling. WSJ’s Jerry Seib explains.

The announcement pushed defense stocks higher on Tuesday and offered relief to investors who are already preoccupied with whether the Federal Reserve will raise short-term interest rates at a mid-December meeting scheduled for days after the government funding is set to expire.

“The deal basically eliminates most of the remaining uncertainty around the fiscal deadlines,” said Alec Phillips, a political economist at Goldman Sachs in Washington. He estimates higher government spending next year could add around 0.2 percentage point to gross domestic product.

Few Democrats are expected to oppose the deal, which will free Mr. Obama to focus on other issues in his final months in office.

“No one got everything they wanted,” Vice President Joe Biden said Tuesday. “But it will last for two years and it will prevent us from lurching from crisis to crisis.”

ENLARGE

House Minority Whip Steny Hoyer (D., Md.) said the bill was “better than the alternative,” predicting that Democrats would “come to the conclusion that progress has been made.”

The deal is likely to rely largely on Democratic votes to pass both chambers, and a widespread GOP insurrection could still hamper its passage in the House. Some concerns emerged Tuesday night over a provision reducing subsidies on crop insurance purchased by farmers and the bill’s official cost from the Congressional Budget Office. The crop insurance issue is expected to be addressed in a future spending bill.

The agreement also incorporates fixes to two federal safety-net programs that loomed large as political problems as the 2016 election drew closer. The agreement incorporates measures aimed at extending the solvency of the Social Security program used to help support disabled people. The deal also would prevent an expected 52% increase in premiums for roughly 30% of the people enrolled in Medicare Part B, which covers outpatient care such as doctor visits.

Separately, the Internal Revenue Service would have an easier time auditing large partnerships, including private-equity firms and hedge funds, under a provision of the deal that would revamp a 33-year-old law that sets the rules for partnership audits and requires the IRS to pass additional taxes to each of the partners.

The budget deal would also repeal a delayed provision of the 2010 health law requiring employers to automatically enroll workers in company plans.

http://www.wsj.com/articles/white-house-congressional-leaders-reach-tentative-budget-deal-1445925316

House to Vote on Budget/Debt Limit Deal Today

Marcia S. Smith

Today the House is scheduled to vote on a deal worked out by the White House and top congressional leaders to raise budget caps and the debt limit for two years — until after the 2016 elections.  The deal is controversial both for its provisions and the way in which it was negotiated, but is expected to pass.

When House Speaker John Boehner (R-OH) announced his intent to resign from the Speakership and Congress last month, he promised to “clean the barn” before he left, resolving major issues so his successor would not have to deal with them.   Two of the four key issues — reauthorization of spending from the Highway Trust Fund and reauthorization of the Export-Import Bank — now have cleared the House.  The others — increasing the budget caps set by the 2011 Budget Control Act (BCA) and raising the debt limit — are combined in the bill the House will consider today.   All of these still must pass the Senate, but Boehner will have fulfilled his promise by getting them through the House.  The idea is that as outgoing Speaker, he has more flexibility to use Democratic votes to get bills passed even if many Republicans oppose them.

Rep. Paul Ryan (R-WI) is expected to be chosen by the House Republican Conference as Boehner’s successor at a meeting today and voted in by the full House tomorrow.   Boehner’s last day is Friday.

Ryan is one of the critics of the budget/debt limit deal saying the process by which it was reached “stinks.”   Only top congressional leaders were involved in the negotiations with the White House.  Ryan was the most recent House member to negotiate a major budget deal when he served as chairman of the House Budget Committee.  He and his Senate counterpart, Sen. Patty Murray (D-WA), found a compromise in 2013 that provided stability for budgets in FY2014 and FY2015.

The Ryan-Murray agreement expired with the FY2015 budget, though, so a new deal was needed for FY2016, which began on October 1.  At the same time, Congress needs to raise the $18.1 trillion debt limit by November 3 to avoid a U.S. default on its debts.

By limiting participation in the budget/debt limit talks to just the top congressional leaders, Ryan and others are protected from criticism that they approved of the process or the results.

The new bill, the 2015 Bipartisan Budget Act, was introduced just after midnight yesterday (Tuesday) and would do the following:

  • Increase discretionary spending caps by $80 billion compared to the caps set in the 2011 BCA (about 1 percent).  The increase is spread over two years: $50 billion in FY2016 and $30 billion in FY2017, divided equally between defense and non-defense programs.  The increases are at least partially paid for by changes to Social Security and Medicare.
  • Add $32 billion to the off-budget Overseas Contingency Operations (OCO) account: $16 billion each year, split roughly equally between DOD and the State Department.
  • Raise the debt limit through March 2017.

Approval of the deal would get these issues off the table through the 2016 congressional and presidential elections.  The deal does not end sequestration.  In fact, it extends sequestration (automatic across the board cuts if Congress exceeds budget caps) through 2025.

The budget cap increase does not specify how the additional money will be spent.  There is no way to know how much any specific agency like NASA or NOAA will benefit, but the agreement should ease (but not eliminate) fears of a government shutdown this year or next.

An appropriations process must take place where the money will be allocated to various agencies and activities that could nonetheless be controversial.  House Appropriations Committee Chairman Hal Rogers (R-KY) said his committee “stands at the ready” to implement the details of the deal. The House has passed six of the 12 regular appropriations bills already; the Senate has not passed any.  The bills that already passed the House, including the Commerce-Justice-Science (CJS) bill that funds NASA and NOAA, can be changed in negotiations with the Senate.  The government is currently operating under a Continuing Resolution (CR) that expires on December 11.

As for government shutdowns, it is important to remember that the 16-day shutdown in 2013 was driven primarily not by budget issues, but by opposition to the Affordable Care Act (Obamacare).  Many of the same House and Senate Republicans who fought Obamacare that time are determined to stop government funding of Planned Parenthood now.  Breathing a sigh of relief may be premature.

Still, there is a sense that this new deal is better than nothing, raising hopes among its proponents that it will, indeed, become law.   The House vote today will be the first test.  The Senate is expected to vote on it next week.

http://www.spacepolicyonline.com/news/house-to-vote-on-budget-debt-limit-deal-today?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Spacepolicyonline+(SpacePolicyOnline+News)

The giant debt ceiling increase rolled together with a budget deal was introduced at 11:36 p.m. Monday, in the dead of night, several congressional sources confirm to Breitbart News.

by MATTHEW BOYLE

The text is 144 pages long and increases the debt ceiling beyond when President Barack Obama leaves office, all the way until March 2017.  It also, according to Politico, increases spending by $50 billion this year and $30 billion more the following year.

As AP reports, House Speaker

Rep. John Boehner (R-OH) 37% is pushing for a Wednesday vote, this would be yet another instance in which he has broken his promise to give members and the public three full days—72 hours—to read legislation before voting on it.

“We will ensure that bills are debated and discussed in the public square by publishing the text online for at least three days before coming up for a vote in the House of Representatives,” Boehner’s “Pledge to America” reads. “No more hiding legislative language from the minority party, opponents, and the public. Legislation should be understood by all interested parties before it is voted on.”

In a speech to the Conservative Political Action Conference (CPAC) in February 2010, Boehner also promised that three full days meant “at least 72 hours.”

By scheduling a vote on Wednesday—any time before 11:36 p.m. on Thursday, actually—Boehner would be violating that pledge.

Boehner is also putting the chances of his likely successor, House Ways and Means Committee chairman

Rep. Paul Ryan (R-WI) 58% , at risk. Ryan has indicated he thinks the “process stinks” on this, but is planning to review the deal in its entirety before making a decision one way or the other.

Ryan’s office has refused to answer a series of basic questions from Breitbart News on whether he believes all Republicans in the House should support or oppose the deal, what took him so long to comment on the deal at all (he still hasn’t weighed in on the substance just the process), whether he would support

Rep. Kevin McCarthy (R-CA) 45% remaining on as Majority Leader if he becomes Speaker after McCarthy contradicted him on the process of the deal, and whether Ryan would allow staffers who were involved in this process who currently work for Boehner to remain working for the Speaker’s office if and when this takes over. Ryan spokesman Brendan Buck, over the course of several emails on Tuesday, openly refused to answer each of those questions. Buck used to work for Boehner.

The Associated Press captured in its piece on Tuesday just how high stakes this game is for Ryan’s chances.

“The House budget vote slated for Wednesday would come on the same day as the GOP caucus nominates its candidate, widely expected to be Wisconsin Rep. Paul Ryan,” the Associated Press wrote.

That means that as the House votes on this monstrosity, it will also be voting to nominate Ryan as the GOP conference official candidate for the Speakership—setting him up for a floor vote on Thursday at which Ryan needs to win a majority of those present and voting for a person.

If he fails to achieve that absolute majority on the floor—something absolutely possible since

Rep. Daniel Webster (R-FL) 64% is still running against him—then it could set up a catastrophic-for-Ryan second ballot fight at which point Ryan would likely eventually step aside. It’s still entirely uncertain what is going to happen between now and Thursday, but with Ryan siding with the establishment in Washington on things like this it’s highly unlikely there will be a clear answer until it all goes down. Making matters more interesting, too, is that GOP presidential candidates are arriving in Boulder, Colorado. All are likely going to face questions about this highly unpopular deal going down in Washington.

http://www.breitbart.com/big-government/2015/10/27/massive-debt-budget-deal-introduced-in-dead-of-night-vote-violates-another-boehner-pledge/

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