The Pronk Pops Show 928, July 13, 2017, Story 1: Senate Revised Republican Repeal and Replacement Bill A Betrayal of Voters Who Gave Republicans Control of Senate and House — Does Not Repeal All Obamacare Mandates, Regulations and Taxes but Does Bailout Insurance Industry and States Who Extended Medicaid Benefits — Trump Should Veto This Betrayal By Republican Establishment of Republican Voters — Videos — Story 2: Estimated insolvency date of Social Security’s Trust fund is 2034 — and Medicare’s Hospital Trust Fund is 2029 —  Social Security and Medicare Benefits Will Be Cut or Taxes Raised or Combination of Benefit Cuts and Tax Increases — Videos — Story 3: Trump’s Broken Promises and Kept Promises — Good Intentions are Not Enough — Only Results Count — Videos

Posted on July 15, 2017. Filed under: American History, Banking System, Breaking News, Budgetary Policy, Coal, Communications, Computers, Congress, Corruption, Defense Spending, Donald J. Trump, Donald J. Trump, Donald Trump, Economics, Education, Employment, Fiscal Policy, Government, Government Dependency, Government Spending, Health, Health Care Insurance, History, House of Representatives, Independence, Investments, Labor Economics, Law, Life, Media, Medicare, Monetary Policy, Natural Gas, News, Oil, People, Philosophy, Photos, President Trump, Radio, Rand Paul, Raymond Thomas Pronk, Resources, Rule of Law, Scandals, Security, Senate, Social Security, Tax Policy, Taxation, Taxes, Trade Policy, Unemployment, United States of America, War, Wealth, Welfare Spending, Wisdom | Tags: , , , , , , , , , , , , , , , , |

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The Pronk Pops Show Podcasts

Pronk Pops Show 928,  July 13, 2017

Pronk Pops Show 927,  July 12, 2017

Pronk Pops Show 926,  July 11, 2017

Pronk Pops Show 925,  July 10, 2017

Pronk Pops Show 924,  July 6, 2017

Pronk Pops Show 923,  July 5, 2017

Pronk Pops Show 922,  July 3, 2017 

Pronk Pops Show 921,  June 29, 2017

Pronk Pops Show 920,  June 28, 2017

Pronk Pops Show 919,  June 27, 2017

Pronk Pops Show 918,  June 26, 2017 

Pronk Pops Show 917,  June 22, 2017

Pronk Pops Show 916,  June 21, 2017

Pronk Pops Show 915,  June 20, 2017

Pronk Pops Show 914,  June 19, 2017

Pronk Pops Show 913,  June 16, 2017

Pronk Pops Show 912,  June 15, 2017

Pronk Pops Show 911,  June 14, 2017

Pronk Pops Show 910,  June 13, 2017

Pronk Pops Show 909,  June 12, 2017

Pronk Pops Show 908,  June 9, 2017

Pronk Pops Show 907,  June 8, 2017

Pronk Pops Show 906,  June 7, 2017

Pronk Pops Show 905,  June 6, 2017

Pronk Pops Show 904,  June 5, 2017

Pronk Pops Show 903,  June 1, 2017

Pronk Pops Show 902,  May 31, 2017

Pronk Pops Show 901,  May 30, 2017

Pronk Pops Show 900,  May 25, 2017

Pronk Pops Show 899,  May 24, 2017

Pronk Pops Show 898,  May 23, 2017

Pronk Pops Show 897,  May 22, 2017

Pronk Pops Show 896,  May 18, 2017

Pronk Pops Show 895,  May 17, 2017

Pronk Pops Show 894,  May 16, 2017

Pronk Pops Show 893,  May 15, 2017

Pronk Pops Show 892,  May 12, 2017

Pronk Pops Show 891,  May 11, 2017

Pronk Pops Show 890,  May 10, 2017

Pronk Pops Show 889,  May 9, 2017

Pronk Pops Show 888,  May 8, 2017

Pronk Pops Show 887,  May 5, 2017

Pronk Pops Show 886,  May 4, 2017

Pronk Pops Show 885,  May 3, 2017

Pronk Pops Show 884,  May 1, 2017

Pronk Pops Show 883 April 28, 2017

Pronk Pops Show 882: April 27, 2017

Pronk Pops Show 881: April 26, 2017

Pronk Pops Show 880: April 25, 2017

Pronk Pops Show 879: April 24, 2017

Pronk Pops Show 878: April 21, 2017

Pronk Pops Show 877: April 20, 2017

Pronk Pops Show 876: April 19, 2017

Pronk Pops Show 875: April 18, 2017

Pronk Pops Show 874: April 17, 2017

Pronk Pops Show 873: April 13, 2017

Pronk Pops Show 872: April 12, 2017

Pronk Pops Show 871: April 11, 2017

Pronk Pops Show 870: April 10, 2017

Pronk Pops Show 869: April 7, 2017

Pronk Pops Show 868: April 6, 2017

Pronk Pops Show 867: April 5, 2017

Pronk Pops Show 866: April 3, 2017

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Image result for U.S. debt as of July 15, 2017

Image result for U.S. debt as of July 15, 2017

 

 

Story 1: Senate Revised Republican Repeal and Replacement Bill A Betrayal of Voters Who Gave Republicans Control of Senate and House — Does Not Repeal All Obamacare Mandates, Regulations and Taxes but Does Bailout Insurance Industry and States Who Extended Medicaid Benefits — Trump Should Veto This Betrayal By Republican Establishment of Republican Voters — Videos —

Here’s what’s in the Senate GOP health care bill 2.0

Sen Bill Cassidy Healthcare reform first, then tax reform Fox News Video

Senate GOP Rolls Out Revised Health Care Bill To Repeal, Replace

Senate Republicans Reveal New Health Care Bill

GOP health care bill will ruin the Republican Party: Ann Coulter

Story 2: Estimated insolvency date of Social Security’s big trust fund is 2034 — and Medicare’s Hospital Trust Fund is 2029 —  Social Security and Medicare Benefits Will Be Cut or Taxes Raised or Combination of Benefit Cuts and Tax Increases — Videos

When will Medicare, Social Security trust funds run dry?

Trump Vows To Protect Social Security, Medicare & Medicaid

Donald Trump On Social Security

How Does Social Security Really Work?

US Debt & Unfunded Liabilities-Where we are going-Dr. Yaron Brook

Social Security is not a Ponzi Scheme!

Social Security is WORSE Than a Ponzi Scheme | THE PLAIN TRUTH by Judge Napolitano …

The Story of Your Enslavement

The Collapse of The American Dream Explained in Animation

George Carlin – It’s a Big Club and You Ain’t In It! The American Dream

George Carlin’s Greatest Speech

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U.S. Debt Clock

 

Image result for cartoons national debt us 20 trillion

Image result for cartoons national debt us 20 trillion

Why Is Healthcare So Expensive?

How to Solve America’s Spending Problem

Government: Is it Ever Big Enough?

The Bigger the Government…

The War on Work

What Creates Wealth?

The Promise of Free Enterprise

Why Capitalism Works

What is Crony Capitalism?

America’s Debt Crisis Explained

Consequences of Printing Money/ Inflation- Dr. Yaron Brook

Milton Friedman – Understanding Inflation

Milton Friedman – The Social Security Myth

Donald Trump’s $20 Trillion Problem

The Money Hole: America’s Debt Crisis

Social Security Trust Fund

youtube=https://www.youtube.com/watch?v=moG31hGZl14]

The Social Security Trust Fund

Alert!! The Fed is Pulling The Plug On The Entire Market, They’re Bringing Down The Economy

The U.S. Debt! Why America Is in Debt? The Federal Debt Grows

Social Security Benefits Demystified With Laurence Kotlikoff | Forbes

III – Unfunded Liabilities

Social Security trust fund will be depleted in 17 years, according to trustees report

BY PHILIP MOELLER  July 13, 2017 at 6:34 PM EDT

The annual trustee reports on Social Security and Medicare were released earlier today and showed little change from last year. With both programs facing longer-term deficits, these annual report cards have become a doomsday clock for senior benefits.

With both programs facing longer-term deficits, these annual report cards have become a doomsday clock for senior benefits.

The top line of today’s reports is that the estimated insolvency date of Social Security’s big trust fund is 2034 — unchanged from last year. The other big fund is Medicare’s hospital trust fund. Last year, it was projected to run out of funds in 2028, or 12 years. That date was rolled forward a year — to 2029 — in this year’s report.

Both funds are paid for by wage earners out of their Social Security payroll taxes. What the insolvency dates mean is that payroll taxes will be the only source of benefit payments once the trust fund reserves are gone. In the case of Social Security, payroll taxes in 2034 will be able to pay an estimated 77 percent of projected benefits. For Part A of Medicare, which covers hospital and nursing home expenses, payroll taxes in 2029 will pay an estimated 88 percent of the program’s projected expenses.

The Social Security report also projected that the program’s 2018 cost of living adjustment, or COLA, would be 2.2 percent, the largest in several years. The COLA sets annual increases in Social Security benefits and also helps determine the level of consumer payments each year for Medicare Part B premiums.

READ MORE: Column: For older Americans, the GOP health bills would be nothing short of devastating

The trustees also estimated that the payroll tax ceiling would rise to $130,500 next year from $127,200 this year. Individuals pay 7.65 percent of their wages in payroll taxes, with 6.2 percentage points to the Social Security trust funds and 1.45 percent to the Medicare trust fund. Employers pay the same amount. The Medicare component of the tax has no wage ceiling.

People on Medicare and Social Security have Part B premiums deducted from their monthly Social Security benefit payments. Under Social Security’s “hold harmless”rule, the Part B premiums can’t increase each year by more than the amount of any COLA-related boost in Social Security payments.

In recent years, Part B expenses have risen at rates much larger than COLA increases. People held harmless have been shielded from the full impact of this Part B inflation. Some people today pay only about $107 a month for Part B premiums, while others who were not held harmless this year are paying $134 a month.

The top line of today’s reports is that the estimated insolvency date of Social Security’s big trust fund is 2034 — unchanged from last year.

The trustees estimated that the monthly premium for Medicare Part B coverage will remain at $134 a month next year and in 2019. Part B’s annual deductible is also expected to remain at $183 through 2019.

The trustees also kept unchanged their estimates of the expected high-income surcharges for Part B premiums of wealthier Medicare enrollees through 2019. They will range from $187.50 to a maximum of $428.60 a month. However, surcharges for Part D premiums are estimated to increase next year, from a range of $13.30 to $76.20 a month this year, to a range of $14 to $80.60 a month in 2018.

Estimates for key elements of Part A hospital insurance payments were increased by 2.7 percent between 2017 and 2018, with the annual deductible for Part A hospital insurance estimated to rise to $1,352 next year from $1,316. Hospital and nursing home co-insurance payments also would rise 2.7 percent.

Part D drug premiums were projected to rise from a monthly base of $35.63 this year to $37.54 in 2018. Medicare earlier had announced that the maximum annual deductible for a Part D plan will rise to $405 in 2018 from $400 this year.

READ MORE: How does Social Security’s cost of living adjustment affect Medicare?

Under terms of the Affordable Care Act, the so-called “donut hole,” or coverage gap in Part D plans, will close completely by 2020. At that time, people will pay 25 percent of the costs of their drugs when they are in the coverage gap of their Part D plan.

Next year, they will pay 35 percent of the price for brand-name drugs and 44 percent of the price for generic drugs. The gap will begin next year after drug costs hit $3,750, up from $3,700 this year. Once expenses hit $5,000, up from $4,950 this year, people will be in the catastrophic coverage phase and will pay no more than 5 percent of the cost of their drugs.

The Social Security report also projected that the program’s 2018 cost of living adjustment, or COLA, would be 2.2 percent, the largest in several years.

The outlook could have been worse for Medicare. Its finances have been supported by high-income Medicare payroll and investment taxes that were imposed by the Affordable Care Act.

These taxes were removed in earlier versions of Republican bills designed to overturn the Affordable Care Act. These cuts were restored in the revised Senate bill that was released earlier today, although it was not immediately clear if Medicare would directly benefit from these taxes to the extent is has under terms of the Affordable Care Act.

Another Affordable Care Act provision related to Medicare would have triggered mandatory Medicare savings had the rate of health care inflation substantially exceeded overall inflation rates. Such a finding would activate an Independent Payment Advisory Board, or IPAB, which some Affordable Care Act critics have described as a death panel. However, the trustee report said health care inflation rates were not large enough to trigger the IPAB process.

Unlike Social Security, payroll taxes do not cover all or even most Medicare spending. Taxpayers foot the bills for most spending on Parts B and D of Medicare. Part B covers doctor, outpatient and durable medical equipment expenses. Part D is the Medicare prescription drug program. While consumer spending on both programs is substantial, they nonetheless run up hundreds of billions in annual deficits that are paid for out of general federal revenues.

http://www.pbs.org/newshour/making-sense/social-security-trust-fund-will-depleted-17-years-according-trustees-report/

Deficits, Debts and Unfunded Liabilities: The Consequences of Excessive Government Spending

Published on May 10, 2010

Huge budget deficits and record levels of national debt are getting a lot of attention, but this video explains that unfunded liabilities for entitlement programs are Americas real red-ink challenge. More important, this CF&P mini-documentary reveals that deficits and debt are symptoms of the real problem of an excessive burden of government spending. http://www.freedomandprosperity.org

Social Security trust fund projected to run dry by 2034

If lawmakers don’t act, Social Security’s trust fund will be tapped out in about 18 years.

That’s one takeaway from the Social Security and Medicare trustees’ annual report released Wednesday.

That doesn’t mean retirees will get nothing by 2034. It means that at that point the program will only have enough revenue coming in to pay 79% of promised benefits.

So if you’re expecting to get $2,000 a month, the program will only be able to pay $1,580.

Technically, Social Security is funded by two trust funds — one for retiree benefits and one for disability benefits.

The 2034 date is the exhaustion date for both funds when combined. But if considered separately, the old-age fund will be exhausted by 2035, after which it would be able to pay just 77% of benefits. And the disability fund will be tapped out by 2023, at which point it could only pay out 89% of promised benefits.

To make all of Social Security solvent for the next 75 years would require the equivalent of any of the following: immediately raising the Social Security payroll tax rate to 14.98% from 12.4% on the first $118,500 of wages; cutting benefits by 16%; or some combination of the two.

Medicare faces insolvency two years earlier than expected

In terms of Medicare, the trustees project that the trust fund for Part A, which covers hospital costs for seniors, will run dry by 2028. That’s two years earlier than they projected last year, due to lower than expected payroll taxes and a slower-than-estimated rate of reduction in inpatient use of hospital services.

But the exhaustion date is still 11 years later than had been projected before Congress passed the Affordable Care Act, now known as Obamacare.

By 2028, Medicare Part A would only be able to pay out 87% of expected benefits — a figure that would fall to 79% by 2043 before gradually increasing to 86% by 2090.

Medicare Part B, meanwhile, which helps seniors pay for doctor’s bills and outpatient expenses, is funded by a combination of premium payments and money from general federal revenue. The same is true of Part D, which offers prescription drug coverage. Both will be financed in full indefinitely, but only because the law requires automatic financing of it.

But their costs are growing quickly. The trustees estimate that the costs will grow to 3.5% of GDP by 2037 then to 3.8% by 2090, up from 2.1% last year.

“Social Security and Medicare remain secure in the medium-term,” said Treasury Secretary Jacob Lew. “But reform will be needed, and Congress should not wait until the eleventh hour to address the fiscal challenges given that they represent the cornerstone of economic security for seniors in our country.”

Where do the presidential candidates stand?

The country’s long-term debt is very much driven by entitlement program spending, particularly in Medicare. That’s largely because the costs for both programs are expected to grow faster than the economy for the next two decades and then stay at or near relatively high levels for years after.

So what exactly would the presumed presidential nominees do about that?

As much as he publicly laments the country’s debt, Donald Trump offers nothing in the way of substantive policy proposals to reform either Medicare or Social Security, beyond promising that he will not curb spending on them.

Instead, Trump has said he wants to recapture money from other areas of the economy to shore-up Social Security.

Meanwhile, Hillary Clinton has specified what she won’t do — e.g., raising the retirement age or cutting middle class benefits — but she doesn’t offer detailed or diverse policy prescriptions of what she would do.

For instance, she has said she wants to shore up Social Security, but then says she wants to expand benefits, which increase the program’s costs.

Her only specific solution is to ask “the highest-income Americans to pay more, including options to tax some of their income above the current Social Security cap, and taxing some of their income not currently taken into account by the Social Security system.”

Related: Moody’s: Trump’s plan would cost 3.5 million jobs

Advocates for curing Social Security’s impending shortfall have pushed for changes sooner rather than later, because the longer the country waits the more abrupt and drastic the changes need to be.

They also often call for a mix of tax increases and spending cuts to reduce how steep either have to be.

As for expanding Social Security benefits, some propose making them more generous but just for the most vulnerable populations — such as seniors living at or near the poverty line.

On Medicare, Clinton has said she would build on cost-savings initiatives created by Obamacare and allow Medicare to “negotiate for lower prices with drug and biologic manufacturers; demanding higher rebates.”

Trump has said he would repeal Obamacare, but he also supports letting Medicare negotiate for better drug prices.

That alone, however, would not save the program much money unless the Health and Human Services Secretary is given authority to legally require lower prices, according to the Committee for a Responsible Federal Budget.

http://money.cnn.com/2016/06/22/pf/social-security-medicare/index.html

Story 3: Trump’s Broken Promises and Kept Promises — Good Intentions are Not Enough — Only Results Count — Six Months And Still Waiting On The Big Promises — Videos

Trump vows to get special prosecutor to investigate Clinton

Trump Has to Turn the DOJ Loose and Indict Hillary Clinton and Remember the American Voter

Trump: I’m going to keep as many campaign promises as I can

76 of Donald Trump’s many campaign promises 2016

President Trump Advert – Promises Made, Promises Kept!

President Trump’s Promises Kept – Make America Great Again Rally in Iowa

Watch 50 Trump promises in 2 minutes

Victory After Victory In Trump’s First 6 Months

“He has Done Nothing!” CNN Panel SLAMS Trump On His First 6 Months As President

“Trump’s Lies Are INSANE!” Chris Wallace & Shep. Smith Is Fed Up With Trump

Tracking Trump’s Campaign Promises

Promise Broken: No action on Trump’s promise to sue accusers

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Trump-O-Meter Scorecard

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Promise KeptCompromisePromise BrokenStalledIn the WorksNot yet rated

Promise Promises Tracked
Promise Kept 9
Compromise 1
Promise Broken 3
Stalled 20
In the Works 38
Not yet rated 30

Tracking President Donald Trump’s campaign promises.

Promises we’ve rated recently

Eliminate Common Core

The Promise:“We’re cutting Common Core. We’re getting rid of Common Core. We’re bringing education locally.”

Update July 16th, 2017: No progress on Trump’s promise to kill Common Core

Build a safe zone for Syrian refugees

The Promise:“They should build a safe zone. Take a big piece of land in Syria and they have plenty of land, believe me. Build a safe zone for all these people, because I have a heart, I mean these people, it’s horrible to watch, But, they shouldn’t come over here. We should build a safe zone.”

Update July 14th, 2017: No clear progress on Syria safe zones

Bring back waterboarding

The Promise:“I would bring back waterboarding, and I’d bring back a hell of a lot worse than waterboarding,”

Update July 13th, 2017: Trump’s team mostly against waterboarding

Keep Guantanamo Bay Detention Center open

The Promise:“We’re going to keep, as you know, Gitmo, we’re keeping that open.”

Update July 7th, 2017: Trump committed to keeping Gitmo open

Suspend immigration from terror-prone places

The Promise:“And if people don’t like it, we’ve got to have a country folks. Got to have a country. Countries in which immigration will be suspended would include places like Syria and Libya. And we are going to stop the tens of thousands of people coming in from Syria.”

Update June 30th, 2017: Trump’s travel ban to take partial effect, administration defines ‘bona fide relationship’

Have mandatory minimum sentences for criminals caught trying to enter the United States illegally

The Promise:“On my first day in office, I am also going to ask Congress to pass ‘Kate’s Law’ – named for Kate Steinle – to ensure that criminal aliens convicted of illegal re-entry receive strong mandatory minimum sentences.”

Update June 29th, 2017: House passes bill for stricter penalties for criminal immigrants who re-enter country

Cancel all funding of sanctuary cities

The Promise:“We will end the sanctuary cities that have resulted in so many needless deaths. Cities that refuse to cooperate with federal authorities will not receive taxpayer dollars, and we will work with Congress to pass legislation to protect those jurisdictions that do assist federal authorities.”

Update June 29th, 2017: House passes bill to withhold certain federal grants from ‘sanctuary cities’

Establish a commission on radical Islam

The Promise:“One of my first acts as president will be to establish a commission on radical Islam which will include reformist voices in the Muslim community who will hopefully work with us.”

Update June 28th, 2017: Trump’s promised ‘commission on radical Islam’ doesn’t exist yet

Save the Carrier plant in Indiana

The Promise:“So here’s what’s going to happen: Within 24 hours, I’ll get a call — the head of Carrier — and he’ll say, ‘Mr. President, we’ve decided to stay in the United States. That’s what’s going to happen. 100 percent.”

Update June 27th, 2017: Carrier plant moves forward with planned job cuts

Suspend immigration from terror-prone places

The Promise:“And if people don’t like it, we’ve got to have a country folks. Got to have a country. Countries in which immigration will be suspended would include places like Syria and Libya. And we are going to stop the tens of thousands of people coming in from Syria.”

Update June 26th, 2017: U.S. Supreme Court accepts travel ban case, allows Trump’s order to partly take effect

Reverse Barack Obama’s Cuba policy

The Promise:“The president’s one-sided deal for Cuba and with Cuba benefits only the Castro regime but all the concessions that Barack Obama has granted the Castro Regime was done through executive order, which means they can be undone and that is what I intend to do unless the Castro Regime meets our demands.”

Update June 16th, 2017: Trump scales back Obama-era Cuba policies

Terminate Barack Obama’s immigration executive orders ‘immediately’

The Promise:“Immediately terminate President Obama’s two illegal executive amnesties (Deferred Action for Parents of Americans and Lawful Permanent Residents and Deferred Action for Childhood Arrivals). All immigration laws will be enforced — we will triple the number of ICE agents. Anyone who enters the U.S. illegally is subject to deportation. That is what it means to have laws and to have a country.”

Update June 16th, 2017: Trump administration rescinds memo for DAPA, keeps DACA

Create private White House veterans hotline

The Promise:“I will create a private White House hotline – that is answered by a real person 24 hours a day – to make sure that no valid complaint about the VA ever falls through the cracks. I will instruct my staff that if a valid complaint is not acted upon, then the issue be brought directly to me, and I will pick up the phone and fix it myself, if need be.”

Update June 15th, 2017: Vets’ hotline had its ‘soft launch’ on June 1

Remove existing Syrian refugees

The Promise:“I’m putting the people on notice that are coming here from Syria, as part of this mass migration, that if I win, if I win, they’re going back.”

Update June 15th, 2017: No efforts yet from Trump administration for mass deportation of Syrian refugees

Suspend immigration from terror-prone places

The Promise:“And if people don’t like it, we’ve got to have a country folks. Got to have a country. Countries in which immigration will be suspended would include places like Syria and Libya. And we are going to stop the tens of thousands of people coming in from Syria.”

Update June 12th, 2017: 9th Circuit Court of Appeals rules against Trump’s travel ban

Take no salary

“If I’m elected president, I’m accepting no salary.”

Create private White House veterans hotline

“I will create a private White House hotline – that is answered by a real person 24 hours a day – to make sure that no valid complaint about the VA ever falls through the cracks. I will instruct my staff that if a valid complaint is not acted upon, then the issue be brought directly to me, and I will pick up the phone and fix it myself, if need be.”

Enact term limits

“If I’m elected president, I will push for a constitutional amendment to impose term limits on all members of Congress.”

Impose death penalty for cop killers

“One of the first things I’d do in terms of executive order, if I win, will be to sign a strong, strong statement that would go out to the country, out to the world, that anybody killing a police man, a police woman, a police officer, anybody killing a police officer, the death penalty is going to happen,”

Appoint a special prosecutor to investigate Hillary Clinton

“I will ask, to appoint a special prosecutor. We have to investigate Hillary Clinton, and we have to investigate the investigation.”

Enact a temporary ban on new regulations

“We’re going to cancel every needless job-killing regulation and put a moratorium on new regulations until our economy gets back on its feet.”

Make no cuts to Medicare

“I’m not going to cut Social Security like every other Republican and I’m not going to cut Medicare or Medicaid.”

Invest $550 billion in infrastructure and create an infrastructure fund

 “The Trump Administration seeks to invest $550 billion to ensure we can export our goods and move our people faster and safer.”

Make no cuts to Social Security

“I’m not going to cut Social Security like every other Republican and I’m not going to cut Medicare or Medicaid.”

Make no cuts to Medicaid

“I’m not going to cut Social Security like every other Republican and I’m not going to cut Medicare or Medicaid.”

Eliminate Common Core

“We’re cutting Common Core. We’re getting rid of Common Core. We’re bringing education locally.”

Impose a hiring freeze on federal employees

“A hiring freeze on all federal employees to reduce federal workforce through attrition (exempting military, public safety, and public health).”

Slash federal regulations

“A requirement that for every new federal regulation, two existing regulations must be eliminated.”

Place lifetime ban on White House officials lobbying for foreign government

“I’m going to issue a lifetime ban against senior executive branch officials lobbying on behalf of a foreign government and I’m going to ask Congress to pass a campaign finance reform that prevents registered foreign lobbyists from raising money in American elections and politics.”

Place lifetime ban on foreign lobbyists raising money for American elections

“A complete ban on foreign lobbyists raising money for American elections.”

Defund Planned Parenthood

“I would defund it because of the abortion factor, which they say is 3 percent. I don’t know what percentage it is. They say it’s 3 percent. But I would defund it, because I’m pro-life.”

Approve the Keystone XL project and reap the profits

“I want it built, but I want a piece of the profits.”

Achieve energy independence

“Under my presidency, we will accomplish a complete American energy independence. Complete. Complete.”

Nominate someone from his list of justices to replace Antonin Scalia

“I am looking to appoint judges very much in the mold of Justice Scalia. I’m looking for judges — and I’ve actually picked 20 of them so that people would see.”

Expand mental health programs

“We need to reform our mental health programs and institutions in this country.”

Expand national right to carry to all 50 states

“That’s why I have a concealed carry permit and why tens of millions of Americans do, too. That permit should be valid in all 50 states.”

Add additional federal investment of $20 billion toward School Choice

“Immediately add an additional federal investment of $20 billion towards school choice.”

Eliminate wasteful spending in every department

“We are going to ask every department head and government to provide a list of wasteful spending projects that we can eliminate in my first 100 days.”

Open up libel laws

“I’m going to open up our libel laws so when they write purposely negative and horrible and false articles, we can sue them and win lots of money.”

Ensure funding for historic black colleges

“My plan will also ensure funding for historic black colleges and universities, more affordable two- and four-year college and support for trade and vocational education.”

Cancel global warming payments to the United Nations

“We’re going to put America first. That includes canceling billions in climate change spending for the United Nations.”

Renegotiate the Iran deal

“This deal if I win will be a totally different deal. This will be a totally different deal.”

Build a safe zone for Syrian refugees

“They should build a safe zone. Take a big piece of land in Syria and they have plenty of land, believe me. Build a safe zone for all these people, because I have a heart, I mean these people, it’s horrible to watch, But, they shouldn’t come over here. We should build a safe zone.”

Close parts of the Internet where ISIS is

Speaking of ISIS, “We’re losing a lot of people because of the Internet and we have to do something. We have to go see Bill Gates and a lot of different people that really understand what’s happening. We have to talk to them, maybe in certain areas closing that Internet up in some way. Somebody will say, ‘oh, freedom of speech, freedom of speech.’ These are foolish people… we’ve got to maybe do something with the Internet because they (ISIS) are recruiting by the thousands, they are leaving our country and then when they come back, we take them back.”

End the defense sequester

“As soon as I take office I will ask Congress to fully eliminate the defense sequester and will submit a new budget to rebuild our military. It is so depleted. We will rebuild our military.”

Keep Guantanamo Bay Detention Center open

“We’re going to keep, as you know, Gitmo, we’re keeping that open.”

Bring back waterboarding

“I would bring back waterboarding, and I’d bring back a hell of a lot worse than waterboarding,”

Develop a plan to defeat ISIS in 30 days

“We are going to convene my top generals and give them a simple instruction. They will have 30 days to submit to the Oval Office a plan for soundly and quickly defeating ISIS. We have no choice.”

Establish a commission on radical Islam

“One of my first acts as president will be to establish a commission on radical Islam which will include reformist voices in the Muslim community who will hopefully work with us.”

Move U.S. Embassy in Tel Aviv to Jerusalem

“We will move the American embassy to the eternal capital of the Jewish people, Jerusalem.”

Reverse Barack Obama’s Cuba policy

“The president’s one-sided deal for Cuba and with Cuba benefits only the Castro regime but all the concessions that Barack Obama has granted the Castro Regime was done through executive order, which means they can be undone and that is what I intend to do unless the Castro Regime meets our demands.”

Cancel the Paris climate agreement

“We’re going to cancel the Paris Climate Agreement and stop all payments of U.S. tax dollars to U.N. global warming programs.”

Increase the size of the U.S. Army to 540,000 active duty soldiers

“We will build an active army around 540,000 as the army’s Chief of Staff has said he needs desperately and really must have to protect our country.”

Rebuild the Marine Corps to 36 battalions

“We will build a Marine Corps based on 36 battalions, which the Heritage Foundation notes is the minimum needed to deal with major contingencies – we have 23 now.”

Provide the U.S. Air Force with 1,200 fighter aircraft

“We will build an Air Force of at least 1,200 fighter aircraft, which the Heritage Foundation again has shown to be needed to execute current missions.”

Rebuild the U.S. Navy toward the goal of 350 ships

“We will build a Navy of 350 surface ships and submarines as recommended by the bipartisan National Defense Panel.”

Call for an international conference to defeat ISIS

“As president, I will call for an international conference focused on this goal. We will work side-by-side with our friends in the Middle East, including our greatest ally, Israel.”

Reverse China’s entry into the World Trade Organization

“That means reversing two of the worst legacies of the Clinton years…First, the North American Free Trade Agreement, or NAFTA. Second, China’s entry into the World Trade Organization.”

Ask countries we protect to pay more for joint defense

 “I think NATO’s great. But it’s got to be modernized. And countries that we’re protecting have to pay what they’re supposed to be paying.”

Guarantee 6-week paid leave

“We can provide six weeks of paid maternity leave to any mother with a newborn child whose employer does not provide the benefit.”

Repeal Obamacare

“Real change begins with immediately repealing and replacing the disaster known as Obamacare.”

Change the vaccination schedule for children

“I am totally in favor of vaccines. But I want smaller doses over a longer period of time” to avoid possible links to Autism.

Get Congress to allow health insurance across state lines

“The insurance companies are getting rich off health care and health insurance and everything having to do with health. We’re going to end that. We’re going to take out the artificial boundaries, the artificial lines. We’re going to get a plan where people compete, free enterprise.”

Allow individuals to deduct health care insurance premiums from taxes

“Allow individuals to fully deduct health insurance premium payments from their tax returns under the current tax system.”

Create a health savings account

“Allow individuals to use Health Savings Accounts (HSAs). Contributions into HSAs should be tax-free and should be allowed to accumulate.”

Require price transparency from health care providers

“Require price transparency from all health care providers, especially doctors and health care organizations like clinics and hospitals.”

Administer Medicaid through block grants

“Our elected representatives in the House and Senate must … block-grant Medicaid to the states. Nearly every state already offers benefits beyond what is required in the current Medicaid structure.”

Allow free access to the drug market

“Remove barriers to entry into free markets for drug providers that offer safe, reliable and cheaper products.”

Increase veterans’ health care

“We are going to make sure every veteran in America has the choice to seek care at the Veterans Administration or to seek private medical care paid for by our government.”

Build a wall, and make Mexico pay for it

“I would build a great wall, and nobody builds walls better than me, believe me, and I’ll build them very inexpensively. I will build a great great wall on our southern border and I’ll have Mexico pay for that wall.”

Remove criminal undocumented immigrants

“A Trump administration will stop illegal immigration, deport all criminal aliens, and save American lives.”

Remove all undocumented immigrants

“We have at least 11 million people in this country that came in illegally. They will go out. They will come back — some will come back, the best, through a process. They have to come back legally. They have to come back through a process, and it may not be a very quick process, but I think that’s very fair, and very fine.”

Cancel all funding of sanctuary cities

“We will end the sanctuary cities that have resulted in so many needless deaths. Cities that refuse to cooperate with federal authorities will not receive taxpayer dollars, and we will work with Congress to pass legislation to protect those jurisdictions that do assist federal authorities.”

Establish a ban on Muslims entering the U.S.

“Donald J. Trump is calling for a total and complete shutdown of Muslims entering the United States until our country’s representatives can figure out what the hell is going on.”

Suspend immigration from terror-prone places

“And if people don’t like it, we’ve got to have a country folks. Got to have a country. Countries in which immigration will be suspended would include places like Syria and Libya. And we are going to stop the tens of thousands of people coming in from Syria.”

Limit legal immigration

“We will reform legal immigration to serve the best interests of America and its workers, the forgotten people. Workers. We’re going to take care of our workers.”

Use U.S. steel for infrastructure projects

“A Trump Administration will also ensure that we start using American steel for American infrastructure.”

Have mandatory minimum sentences for criminals caught trying to enter the United States illegally

“On my first day in office, I am also going to ask Congress to pass ‘Kate’s Law’ – named for Kate Steinle – to ensure that criminal aliens convicted of illegal re-entry receive strong mandatory minimum sentences.”

Remove existing Syrian refugees

“I’m putting the people on notice that are coming here from Syria, as part of this mass migration, that if I win, if I win, they’re going back.”

End birthright citizenship

“End birthright citizenship.”

Increase visa fees

“Increase fees on all border crossing cards – of which we issue about 1 million to Mexican nationals each year (a major source of visa overstays).”

Stop TPP

“I’m going to issue our notification of intent to withdraw from the Trans-Pacific Partnership.”

Renegotiate NAFTA

“A Trump administration will renegotiate NAFTA and if we don’t get the deal we want, we will terminate NAFTA and get a much better deal for our workers and our companies. 100 percent.”

Raise tariffs on goods imported into the U.S.

“Any country that devalues their currency to take unfair advantage of the United States and all of its companies that can’t compete will face tariffs and taxes to stop the cheating.”

Declare China a currency manipulator

“Instruct the Treasury Secretary to label China a currency manipulator.”

Adopt the penny plan

“The ‘Penny Plan’ would reduce non-defense, non-safety net spending by one percent of the previous year’s total each year. Over 10 years, the plan will reduce spending (outlays) by almost $1 trillion without touching defense or entitlement spending.”

Grow the economy by 4 percent a year

“We’re bringing it (the GDP) from 1 percent up to 4 percent. And I actually think we can go higher than 4 percent. I think you can go to 5 percent or 6 percent.”

Save the Carrier plant in Indiana

“So here’s what’s going to happen: Within 24 hours, I’ll get a call — the head of Carrier — and he’ll say, ‘Mr. President, we’ve decided to stay in the United States. That’s what’s going to happen. 100 percent.”

Hire American workers first

“Establish new immigration controls to boost wages and to ensure that open jobs are offered to American workers first.”

Replace J-1 Visa with Inner City Resume Bank

“The J-1 visa jobs program for foreign youth will be terminated and replaced with a resume bank for inner city youth provided to all corporate subscribers to the J-1 visa program.”

Eliminate the federal debt in 8 years

“We’ve got to get rid of the $19 trillion in debt. … Well, I would say over a period of eight years. And I’ll tell you why.”

Sue his accusers of sexual misconduct

“The events never happened. Never. All of these liars will be sued after the election is over.”

Not take vacations

“I would not be a president who took vacations. I would not be a president that takes time off.”

Release his tax returns after an audit is completed

“I’m under a routine audit and it’ll be released, and as soon as the audit is finished it will be released.”

Won’t say ‘Happy Holidays’

“If I become president, we’re going to be saying Merry Christmas at every store. You can leave (happy holidays) at the corner. …Other religions can do what they want.”

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The Pronk Pops Show 565, October 30, 2015, Story 1: Budget Busting Bastards of The Republican and Democratic Parties — No Dollar Ceiling on National Debt! — Two Party Tyranny with A Bad Habit — Spending Addiction Disorder (SAD) — America’s Warfare and Welfare Expanding Empire Burdening Future Generations — Videos

Posted on October 30, 2015. Filed under: 2016 Presidential Campaign, 2016 Presidential Candidates, Addiction, American History, Banking System, Blogroll, Bombs, Breaking News, Budgetary Policy, Business, Communications, Congress, Constitutional Law, Corruption, Cruise Missiles, Culture, Defense Spending, Drones, Drugs, Economics, Education, Empires, Employment, Eugenics, European History, Federal Government, Fiscal Policy, Food, Foreign Policy, Free Trade, Gangs, Genocide, Government, Government Dependency, Government Spending, Health, Health Care, Health Care Insurance, History, House of Representatives, Illegal Immigration, Immigration, Independence, Investments, Language, Law, Legal Immigration, Media, Medicare, Middle East, MIssiles, Monetary Policy, News, Nuclear, Philosophy, Photos, Pistols, Politics, President Barack Obama, Progressives, Radio, Raymond Thomas Pronk, Rifles, Scandals, Senate, Social Security, South America, Tax Policy, Taxation, Taxes, Terrorism, Trade Policy, Unemployment, Violence, War, Wealth, Weapons, Weapons of Mass Destruction, Welfare Spending, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

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The Pronk Pops Show Podcasts

Pronk Pops Show 565: October 30, 2015

Pronk Pops Show 564: October 29, 2015 

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: Budget Busting Bastards of The Republican and Democratic Parties — No Dollar Ceiling on National Debt! — Two Party Tyranny with A Bad Habit — Spending Addiction Disorder (SAD) — America’s Warfare and Welfare Expanding Empire Burdening Future Generations — Videos

Sen. Cruz: The Budget Deal Is a Corrupt Betrayal of the American People

Rand Paul Speech against Obama’s Debt Deal | Senate Floor CSPAN

Senator Rand Paul speaks on the US Senate floor to speak on President Obama’s debt deal to raise the debt ceiling. Paul will filibuster the debt deal into the morning to hopefully slow down the passing of the debt bill.

Sen. Mike Lee: Budget Deal Is ‘Last Gasping Breath Of A Disgraced Bipartisan Beltway Establishment’

Senate Republicans Who Betrayed The American People by voting YEA:

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cruz and mcconnell

“Senator McConnell has proven to be the most effective Democratic leader of all time.”

~Senator Ted Cruz

What Pisses Me Off About Government Debt | The Debt Ceiling and Budget Act

Ted Cruz On Debate Performance, Mainstream Media, Budget Deal

Presidential Candidates Ted Cruz, Rand Paul Opposed Budget Bill

Senate votes to pass bipartisan budget deal overnight

Senate Passes 2-Year Budget Deal, Raising The Debt Ceiling – Newsy

Cruz: It’s not two parties, it’s one party; Washington Cartel; 10-29-2015

Clueless Charlie Rose — Obama and Clinton Are Liars! 

CBS’s Charlie Rose Desperately Tries To Lecture Marco Rubio On Benghazi

Following Wednesday night’s CNBC Republican presidential debate, on Thursday’s CBS This Morning, co-host Charlie Rose repeatedly tried to lecture Senator Marco Rubio over Hillary Clinton’s role in the 2012 Benghazi attack. After Rubio stated that he had not engaged in personal attacks throughout this campaign, Rose immediately rushed to defend Clinton and proclaimed that on the issue of Benghazi “[w]ell, well, you called Hillary Clinton a liar, senator. You called Hillary Clinton a liar.”

Hillary_Obama_Poster_Liar

Hillary Clinton: A Lying Compilation

Jim Jordan GRILLS Hillary Clinton About Video

Jim Jordan (R-Ohio) relentlessly questioned former Secretary of State Hillary Clinton on Thursday over why she and other administration officials initially blamed a YouTube video for the Benghazi terror attacks, a claim contrary to available intelligence at the time. “Your experts knew the truth, your spokesperson knew the truth, Greg Hicks knew the truth,” Jordan said during a House Benghazi Committee hearing. “But what troubles me more is I think you knew the truth. Jordan accused Clinton of telling the president of Libya, Egyptian prime minister and even family members that terrorists were behind the attack, but later suggested an anti-Muslim video sparked the attack.
“The American people want to know why,” Jordan added. “If you look at the statement that I made, I clearly said it was an attack,” Clinton replied. “Calling it an attack is like saying the sky is blue — of course it was an attack,” Jordan shot back.

Confirmed: Hillary Clinton Repeatedly Lied Under Oath During Benghazi Committee Hearing

YouTube Video Maker Blamed for Benghazi Attacks Breaks Silence on CNN

Obama and Hillary Blame Youtube Video for Benghazi Terrorist Attack as Coffins Arrive

Hillary Clinton Still Says A Video Was A Factor In The Benghazi Attacks

liars

See How Your Senator Voted on the Boehner-Obama Budget Deal

Less than five days after it was introduced, the Senate passed the 144-page, two-year budget deal that suspends the debt limit until March 2017 and raises spending caps.

The Senate passed the budget deal, 64-35, just after 3 a.m. on Friday. Thirty-five Republican senators opposed the deal, though it was not enough to stop the bill from heading to President Obama’s desk.

Screen Shot 2015-10-30 at 9.34.59 AM

The bill was approved after a 1 a.m. procedural vote which passed, 63-35, and allowed the budget plan to proceed.

The Daily Signal is the multimedia news organization of The Heritage Foundation.  We’ll respect your inbox and keep you informed.

The budget deal, the result of weeks of closed-door negotiations between McConnell, Senate Minority Leader Harry Reid, former House Speaker John Boehner and House Minority Leader Nancy Pelosi, passed the House of Representatives Wednesday night.

The president is expected to sign the two-year budget agreement, called the Bipartisan Budget Act of 2015, within the next few days.

Though the deal passed by the House and Senate with support from members of both parties, the fiscal plan was protested by conservative senators who opposed both the substance of the deal and the manner in which it was negotiated.

Republican Sens. Mike Lee of Utah and Jeff Sessions of Alabama—the current and former chairmen of the Senate Steering Committee, respectively—sent a letter to their GOP colleagues calling on them to oppose the deal. In their message, Lee and Sessions criticized the deal for being “crafted in secret without the involvement of the vast majority of our conference.”

Additionally, Sen. Rand Paul, R-Ky., threatened to filibuster the legislation in what many believed would be an overnight protest. Paul, however, spoke on the Senate floor for just 18 minutes.

The Kentucky senator did appear on the Senate floor later in the night and criticized the deal for giving Obama unlimited borrowing authority.

“Both sides of the aisle have what I would call sacred cows. On the right, they have the sacred cow of military contracts. …The left wants more welfare,” he said, adding, “Should we give Congress more money? Hell no.”

Conservative senators went head-to-head with Republican leadership before the vote.

“The budget deal before the Senate today is not just a horrible piece of legislation that is undeserving of this chamber’s support. It also represents the last gasping breath of a disgraced, bipartisan Beltway establishment on the verge of collapse,” Lee said on the Senate floor. “The bill is a product of an unfair, dysfunctional and fundamentally undemocratic process, a process that is virtually indistinguishable from what we promised the American people a GOP-controlled Congress would bring to an end.”

McConnell, though, stressed that the agreement satisfied the list of demands Republicans had during negotiations with Democrats.

“This agreement isn’t perfect. I share some concerns other colleagues have raised. But here’s the bottom line: this is a fully offset agreement that rejects tax hikes, secures long-term savings through entitlement reforms and provides increased support for our military, all this at a time when we confront threats in multiple theaters,” McConnell said on the Senate floor. “Each of these was a Republican goal heading into negotiations. Each of these items was achieved in the agreement before us.”

The Bipartisan Budget Act of 2015 lifts spending caps by $80 billion—$50 billion in 2016 and $30 billion in 2017—with the increases split evenly between defense and nondefense spending.

It also suspends the debt limit until March 2017, and shifts $150 billion from the Social Security Trust Fund to the Disability Insurance Trust Fund

The budget deal was viewed by Boehner, who resigned from his post earlier this month, as a way to “clean the barn” for his successor, the newly elected Speaker Paul Ryan, R-Wis.

gdp_largeUS_GDP_second_quarter_2015_July2015

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spreas of empireCG-map-3bases  US_military_bases_in_the_world_2007globalmilitarism58_14

U.S.Gov_SafetyNetProgramsUS Welfare State

Budget buster: Senate passes debt and spending hike in dead of night

144-page bill amounts to $558 million in new spending per page

Senate Republicans managed to wrangle enough of their troops to overcome a filibuster early Friday morning and pass the new budget deal, granting President Obama yet another debt holiday, busting the budget caps and boosting spending some $80 billion over the next two years.

Democrats, who are far more thrilled with the deal, did the heavy lifting, providing most of the votes as they won some $40 billion in new domestic spending in 2016 and 2017. They also forced the GOP to retreat on the hard-fought 2011 budget agreement that had helped bring deficits back under control.

Conservative Republicans were irate at their leaders and at defense hawks within the GOP who forced the deal by saying it was worth busting the caps in order to get the Pentagon more money at a time when the U.S. is fighting the war on terror.

“This deal represents the worst of Washington culture,” said Rep. Rand Paul, a Kentucky Republican and presidential candidate who’d vowed to lead the filibuster, but who saw his efforts fall short to what he called an “unholy compromise between right and left.”

The bill cleared on a 64-35 vote, with just 18 Republicans joining all Democrats in backing the bill.

President Obama said the deal will “break the cycle of shutdowns and manufactured crises” that he and Congress have been through the last few years.

http://www.washingtontimes.com/news/2015/oct/30/senate-passes-debt-and-spending-hike-dead-night/

Senate passes two-year budget deal

Jim DeMint

When I had just started to raise a family, and I struggled to make my small business turn a profit, I had to make decisions about what bills to pay based on priorities and due dates. Sometimes, the struggle to balance the checkbook would be a painful one, and we had to do without some things as “luxuries”—even if we hadn’t considered them luxuries before.

This wasn’t some unique experience of mine. Too many Americans these days are forced to make sacrifices to keep the lights on.

But the federal government doesn’t do the same—in fact, it rarely even tries. Instead, the impending Boehner-Obama agreement allows Congress to rack up new debt and guarantees even more spending without putting any checks in place.

This is an insult to the American families whose tax dollars pay their salaries. It is slap in the face to families who are forced to shell out for every single irresponsible spending bill and wrecked entitlement system, because their representatives are too cowardly to tighten the belt and work on some hard reforms.

Instead, the current budget deal keeps our government on a trajectory to spend another $7 trillion more over the next 10 years than it will receive in taxes, according to the Congressional Budget Office. So, like clockwork, Congress raises the debt limit.

Just as credit cards have limits that serve as warning signs for reckless spending, the debt limit is Congress’ self-imposed warning sign that our spending problem needs to be addressed. They’ve ignored it to the tune of $18.1 trillion and counting.

The Boehner-Obama deal has gimmicky savings that will not materialize—if ever—until 10 to 15 years from now. It bails out the Social Security Disability Insurance trust fund by robbing the general Social Security Trust Fund without putting in any meaningful reforms. This is no help to the next generation of retirees.

Insultingly, the deal also turns Overseas Contingency Operations (an emergency spending provision that was meant to help the troops) into a slush fund for non-defense spending. If that disgusts you, welcome to the club—your annual dues are paid every April 15.

Congress hasn’t been forced into this. Better options have been proposed, but they require holding to budget caps and building on them with real spending and entitlement reforms.

Until Washington is forced by the voters into fiscal sanity, American families can expect to continue making those painful budget decisions at home while watching their leaders pile more debt on their heads from afar. Unfortunately, government debt will eventually lead to less opportunity and lower quality of life for all Americans.

http://dailysignal.com/2015/10/28/lame-ducks-lame-deal-the-boehner-obama-budget-plan/

EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, Thursday, October 29, 2015
BEA 15—50

* See the navigation bar at the right side of the news release text for links to data tables,
contact personnel and their telephone numbers, and supplementary materials.

Lisa Mataloni: (202) 606-5304 (GDP) gdpniwd@bea.gov
Jeannine Aversa: (202) 606-2649 (News Media)
National Income and Product Accounts
Gross Domestic Product: Third Quarter 2015 (Advance Estimate)
      Real gross domestic product -- the value of the goods and services produced by the nation’s
economy less the value of the goods and services used up in production, adjusted for price
changes -- increased at an annual rate of 1.5 percent in the third quarter of 2015, according to the
"advance" estimate released by the Bureau of Economic Analysis.  In the second quarter, real GDP
increased 3.9 percent.

      The Bureau emphasized that the third-quarter advance estimate released today is based on source
data that are incomplete or subject to further revision by the source agency (see the box on page 2 and
"Comparisons of Revisions to GDP" on page 4).  The "second" estimate for the third quarter, based on
more complete data, will be released on November 24, 2015.

      The increase in real GDP in the third quarter primarily reflected positive contributions from
personal consumption expenditures (PCE), state and local government spending, nonresidential fixed
investment, exports, and residential fixed investment that were partly offset by negative contributions
from private inventory investment. Imports, which are a subtraction in the calculation of GDP,
increased.

      Real GDP increased 1.5 percent in the third quarter, after increasing 3.9 percent in the second.
The deceleration in real GDP in the third quarter primarily reflected a downturn in private inventory
investment and decelerations in exports, in nonresidential fixed investment, in PCE, in state and local
government spending, and in residential fixed investment that were partly offset by a deceleration in
imports.

_____

      FOOTNOTE.  Quarterly estimates are expressed at seasonally adjusted annual rates, unless otherwise
specified.  Percent changes are calculated from unrounded data and are annualized.  "Real" estimates are
in chained (2009) dollars.  Price indexes are chain-type measures.

      This news release is available on BEA's Web site.
_____

      Real gross domestic purchases -- purchases by U.S. residents of goods and services wherever
produced -- increased 1.5 percent in the third quarter, compared with an increase of 3.6 percent in the
second.

      Current-dollar GDP -- the market value of the goods and services produced by the nation’s
economy less the value of the goods and services used up in production -- increased 2.7 percent, or
$121.1 billion, in the third quarter to a level of $18,034.8 billion.  In the second quarter, current-dollar
GDP increased 6.1 percent, or $264.4 billion.
Disposition of personal income

      Current-dollar personal income increased $171.6 billion in the third quarter, compared with an
increase of $139.5 billion in the second.  The acceleration in personal income primarily reflected an
acceleration in wages and salaries and an upturn in farm proprietors’ income that were partly offset by a
deceleration in personal interest income.

      Personal current taxes increased $15.8 billion in the third quarter, compared with an increase of
$27.3 billion in the second.

      Disposable personal income increased $155.9 billion, or 4.8 percent, in the third quarter,
compared with an increase of $112.2 billion, or 3.4 percent, in the second.  Real disposable personal
income increased 3.5 percent, compared with an increase of 1.2 percent.

      Personal outlays increased $136.6 billion in the third quarter, compared with an increase of
$182.3 billion in the second.

      Personal saving -- disposable personal income less personal outlays -- was $636.7 billion in the
third quarter, compared with $617.5 billion in the second.

      The personal saving rate -- personal saving as a percentage of disposable personal income --
was 4.7 percent in the third quarter, compared with an increase of 4.6 percent in the second.  For a 
comparison of personal saving in BEA's national income and product accounts with personal saving in the 
Federal Reserve Board's financial accounts of the United States and data on changes in net worth, go to
www.bea.gov/national/nipaweb/Nipa-Frb.asp.

_____

      BOX.  Information on the assumptions used for unavailable source data is provided in a technical note
that is posted with the news release on BEA's Web site.  Within a few days after the release, a detailed
"Key Source Data and Assumptions" file is posted on the Web site.  In the middle of each month, an
analysis of the current quarterly estimate of GDP and related series is made available on the Web site;
click on Survey of Current Business, "GDP and the Economy."  For information on revisions, see
"Revisions to GDP, GDI, and Their Major Components."
_____

      BEA's national, international, regional, and industry estimates; the Survey of Current Business;
and BEA news releases are available without charge on BEA's Web site at www.bea.gov.  By visiting
the site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements.



                                      *          *          *



                       Next release -- November 24, 2015 at 8:30 A.M. EST for:
                   Gross Domestic Product:  Third Quarter 2015 (Second Estimate)
                   Corporate Profits:  Third Quarter 2015 (Preliminary Estimate)


                                      *          *          *

Release dates in 2016

Gross Domestic Product

                 2015: IV and 2015 annual      2016: I            2016: II           2016: III

Advance....            January 29             April 28             July 29          October 28
Second.....           February 26               May 27           August 26         November 29
Third......              March 25              June 28        September 29         December 22


Corporate Profits

Preliminary...            ...                   May 27           August 26         November 29
Revised.......           March 25              June 28        September 29         December 22




                                        Comparisons of Revisions to GDP


	Current quarterly estimates of GDP are released on the following schedule: "Advance" estimates, based on source
data that are incomplete or subject to further revision by the source agency, are released near the end of the first
month following the end of the quarter; as more detailed and more comprehensive data become available,
"second" and "third" estimates are released near the end of the second and third months, respectively.  "Latest"
quarterly estimates reflect the results of both annual and comprehensive revisions, which are typically released in late July.

	Annual revisions generally cover at least the 3 most recent calendar years (and the associated quarters) and
incorporate newly available major annual source data.  Comprehensive (or benchmark) revisions are carried out at
about 5-year intervals and incorporate major periodic source data, as well as improvements in concepts and
methods that update the accounts to portray more accurately the evolving U.S. economy.

	The table below presents the average revisions to the quarterly percent changes in real and current-dollar
GDP for the different estimate vintages.  From the advance estimate to the second estimate (1 month later), the
average revision to real GDP growth without regard to sign is 0.5 percentage point, while from the advance
estimate to the third estimate (2 months later), it is 0.6 percentage point.  From the advance estimate to the latest
estimate, the average revision without regard to sign is 1.2 percentage points.  Larger average revisions for the
latest estimates reflect the fact that comprehensive revisions include major improvements to the accounts, such as
the incorporation of BEA's latest benchmark input-output accounts.  The current quarterly estimates correctly indicate the
direction of change in real GDP 96 percent of the time, correctly indicate whether GDP is accelerating or
decelerating about 75 percent of the time, and correctly indicate whether real GDP growth is above, near, or
below trend growth about 83 percent of the time.


                      Revisions Between Quarterly Percent Changes of GDP: Vintage Comparisons
                                                  [Annual rates]

       Vintages                                   Average         Average without     Standard deviation of
       compared                                                    regard to sign      revisions without
                                                                                         regard to sign

________________________________________________________Real GDP_____________________________________________________

Advance to second....................               0.1                 0.5                  0.4
Advance to third.....................               0.1                 0.6                  0.5
Second to third......................               0.0                 0.2                  0.3

Advance to latest....................              -0.1                 1.2                  1.0


____________________________________________________Current-dollar GDP_______________________________________________

Advance to second....................               0.1                 0.5                  0.4
Advance to third.....................               0.2                 0.7                  0.5
Second to third......................               0.1                 0.3                  0.3
Advance to latest....................               0.1                 1.3                  1.0

_____________________________________________________________________________________________________________________
 NOTE.  These comparisons are based on the period from 1993 through 2014.

http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm

Fiscal Year 2015, Budget Deficit $438,889,000,000 or $438 Billion

National Debt Clock

$18,425,566,000,000 Plus or $18.4 Trillion

national_debt_chart2014totalusdebtobligationsUS-Unfunded-Liabilities

Overdose: The Next Financial Crisis

America’s Debt Crisis Explained

Published on Feb 24, 2014

Fact: America’s national debt stands at $17 trillion. That’s a tough number to grasp. Most people will never come close to making $1 million in any given year. How can we understand the magnitude of the hole our country is in? Well, imagine you owed your credit card company $200,000. On top of that you have to pay them about $4,000 per year in interest. You are bringing in $150,000 per year, but you are spending way more than that. How are you going to ever pay back that $200,000 debt? And what happens if you default? Well, that is America today.

‘US hides real debt, in worse shape than Greece’

The US national debt is twenty times higher than is officially reported, approaching $222 trillion, and today’s children could soon be paying their parent’s debts, reputed American economist Laurence Kotlikoff told RT. TRANSCRIPT of the interview: http://on.rt.com/81u1ac

How Big Is the U.S. Debt?

Uploaded on Feb 11, 2011

Do you know how much debt the U.S. is really in? Learn more: http://bit.ly/1HVAtKP

Economics professor Antony Davies illustrates the size the U.S. federal government’s debt and unfunded obligations. He breaks down the total U.S. debt and obligations into parts and compares them with the size of the GDP of countries around the world, showing the magnitude of America’s fiscal situation.

Deficits, Debts and Unfunded Liabilities: The Consequences of Excessive Government Spending

Uploaded on May 10, 2010

Huge budget deficits and record levels of national debt are getting a lot of attention, but this video explains that unfunded liabilities for entitlement programs are Americas real red-ink challenge. More important, this CF&P mini-documentary reveals that deficits and debt are symptoms of the real problem of an excessive burden of government spending. http://www.freedomandprosperity.org

I.O.U.S.A.: Byte-Sized – The 30 Minute Version

Uploaded on Oct 31, 2008

By now, you may have heard about our acclaimed documentary I.O.U.S.A., a film that boldly examines the rapidly growing national debt and its consequences for the United States and its citizens. The film has been a huge hit, getting rave reviews from Roger Ebert and others.

Now, we proudly release a 30-minute condensed version of I.O.U.S.A. designed specifically for watching and sharing on the web – for free.

IOUSA Solutions: Part 1 of 5

The award-winning documentary I.O.U.S.A. opened up America’s eyes to the consequences of our nation’s debt and the need for our government to show more fiscal responsibility. Now that more Americans and elected officials are aware of our fiscal challenges, the producers of I.O.U.S.A. created I.O.U.S.A.: Solutions, a follow-up special focusing on solutions to the fiscal crisis. Learn more athttp://www.iousathemovie.com/.

IOUSA Solutions: Part 2 of 5

IOUSA Solutions: Part 3 of 5

IOUSA Solutions: Part 4 of 5

IOUSA Solutions: Part 5 of 5

FIAT EMPIRE: Why the Federal Reserve Violates the U.S. Constitution

$205 Trillion in Unfunded Liabilities

By Gary North

The nonpartisan Congressional Budget Office is acting in a bipartisan way to cover up the biggest single threat to the bipartisan political alliance that is stripping America of its wealth: the United States Congress.

There is no question that the following policy is bipartisan. Democrats and Republicans in Congress are completely agreed that the following information should not get out to the American people, namely, that the present value of the United States government’s off-budget liabilities is over $200 trillion.

…the government needs $205 trillion… to invest in the private sector, in order to fund its legal liabilities.

The man who has followed this for the longest time is Prof. Laurence Kotlikoff of Boston University. He has created a great deal of embarrassment for the government by his relentless pursuit of the statistical implications of the statistics released by the Congressional Budget Office.

The Congressional Budget Office has a way to avoid this, namely, to cease publishing the statistics that Kotlikoff has used to expose the real condition of the United States government.

Kotlikoff referred to this suppression of information in an article that appeared in Forbes.

The CBO has two sets of books. This is what any Ponzi scheme requires. It releases one set of books to the rubes in the financial media, who are perfectly content to quote from it, when they are even aware of it. This is called the Extended Baseline Forecast or EBF.

The second set of books is called the Alternative Fiscal Scenario or AFS. Here’s how Kotlikoff describes the difference.

In past years, the CBO simultaneously released what it calls its Alternative Fiscal Scenario. This forecast is what CBO actually projects future taxes and spending to be given not just the laws in place, but also how Congress and the Administration have been bending and changing the laws through time. In short, the Alternative Fiscal Scenario (AFS) is what the CBO thinks we’re facing absent a truly dramatic and sustained shift in fiscal policy.

Because of Kotlikoff’s ability to get news coverage for the AFS, the CBO decided this year not to publish it.

Those of us who track U.S. fiscal policy eagerly await each year’s release of the AFS. But this year, the CBO’s long-term forecast included only the EBF. The AFS was nowhere to be seen. It wasn’t mentioned in the CBO’s lengthy report. Nor was it included in the downloadable data CBO provided on its website.

The national media, which generally “covers” fiscal affairs by repeating what it’s told, missed this omission entirely. Indeed, it spent an entire news cycle discussing the EBF figures as if they had real meaning.

The CBO did not get away with this, at least not to the extent that it had hoped. There were complaints. Kotlikoff says that enough people did complain to persuade the CBO to release a summary of the projections in an obscure spot in the CBO’s spreadsheet. The CBO posted this information, but it did not alert the financial media to the update.

He predicted that the link would soon be removed. This was in early October.

The EBF and AFS projections differ dramatically, yet the AFS is hidden away in one tab of one spreadsheet called Supplementary Data, the small link to which will shortly disappear from the CBO’s homepage, making it even harder for we taxpayers to find.

He was correct. It’s gone. It’s “page not found.”

[Ed. Note: We tried accessing the link, but nothing came up.]

He points out that the CBO’s projections on the deficit which it has posted in full public view, namely, the ESB, has the fiscal gap at $47 trillion. Now, just between you and me, $47 trillion is a large chunk of change. But it is such a low-ball estimate that the public has no real conception of how big the liability really is. Of course, the public doesn’t care one way or the other, because the public has never heard of the CBO, let alone the ESB. When I say “public,” I mean the financial media.

Using the AFS figures, the unfunded liability is $205 trillion. This is the figure that the CBO does not want the general public, meaning the financial media, to be aware of.

Understand, this is not the unfunded liabilities added up in all future years. This is the present value of the unfunded liabilities, discounted to today. This means that the government needs $205 trillion, cash on hand, to invest in the private sector, in order to fund its legal liabilities. This is not the deficit long after we are dead. This is the present value of the deficit long after we are dead.

The only fiscal measure that’s free of this classification problem, known as economics labeling problem, is what economists call the infinite horizon fiscal gap. This measure puts everything on the books — all future spending obligations, whether they are called official or not as well as all future tax and other receipts. The difference valued in the present (the present value) of future spending less future receipts is the infinite horizon fiscal gap.

Kotlikoff explains this in layman’s terms. He explains it in terms of the taxing and spending consequences of the present value of the unfunded liabilities. He tells us what must be done today.

The $205 trillion fiscal gap is enormous. It’s 10% of the present value of all future GDP. Equivalently, it corresponds to 10% of GDP year in and year out for as far as the eye can see. To raise 10% of GDP each year we could (a) raise all federal taxes, immediately and permanently, by 57%, (b) cut all federal spending, apart from interest on the debt, by 37%, immediately and permanently, or (c) do some combination of (a) and (b).

The odds of Congress agreeing on a bill to this effect, and then having President Obama sign this bill into law, are a good deal lower than the odds of your winning the state lottery. Three times in a row. One ticket per year.

This is the softcore version that he wrote for Forbes. He released a hard-core version in an interview on the Financial Sense website. He called this a conspiracy. But he made it clear that it is a bipartisan conspiracy.

I sent him [head of the CBO] an email and asked whether he was under some sort of political pressure to withhold this information and he said that was a big insult, and he was very upset with me for suggesting that. But then he said that the reason he hadn’t released it was because they didn’t think anyone was interested. I said, well obviously we’re interested — it’s the only thing worth looking at.

I love it when bureaucrats cover up the obvious. They do not even try to be clever. They give some obviously screwball explanation, and leave it at that. They cannot be fired. We cannot do anything about it.

This has gone on for a long time.

This is a pattern, you know. The Clinton administration — we put out the fiscal gap studies for a couple of years on the President’s budget. The Clinton administration then censored it. The guy who’s now head of the National Economic Council, the Chief Economic Advisor to President Obama, was the one who did the censorship back in 1994. President Bush’s Treasury Secretary O’Neil wanted us to do a fiscal gap accounting for the President’s budget in 2003 and he was fired in December 7, 2002, and that study was censored two days after he was fired.

So, this is not accidental. This is more or less a conspiracy to hide the truth to keep ourselves and our kids in the dark about what the politicians are really doing, which is trying to garner the votes of older people and then get reelected and leave a bigger mess for our kids to handle.

Our kids will handle this effectively. They will elect people to Congress who will vote to stop paying the oldsters and their physicians, the vast majority of whom will be dependent on Medicare payments. I call this “stiff the geezers.” I also call it the Great Default. The surviving generations that ran up the liabilities will bear the brunt of the pain, as well they should.

There is no way out, other than default. This will have profound consequences politically, economically, and socially. It will be the end of the Keynesian welfare state. The Keynesians will be left holding the empty bag.

This is how all Ponzi schemes end. But those deluded souls who buy into them refuse to face statistical reality until the scheme blows up, leaving them empty-handed.

Will they be wiser after the Great Default? It is our job to explain to them what happened. We must begin with this: “We told you so. We also told you why.”

Regards,

Gary North
for The Daily Reckoning

You Think The Deficit Is Bad? Federal Unfunded Liabilities Exceed $127 Trillion

By Vance Ginn

Although the battle over a two-year budget deal and the national debt limit in Washington, D.C. has received the lion’s share of media attention recently , the bigger, more ominous threat facing taxpayers are unfunded liabilities—the difference between the net present value of expected future government spending and the net present value of projected future tax revenue, particularly those associated with Social Security and Medicare.

While federal unfunded liabilities are important, state-level unfunded pension liabilities also pose serious obstacles. In Texas, the recent 2013 Employees Retirement System (ERS) Valuation Report outlines the funding shortages this pension system faces and there is some indication it may be unable to pay beneficiaries by 2052.

The federal unfunded liabilities are catastrophic for future taxpayers and economic growth. At usdebtclock.org, federal unfunded liabilities are estimated at near $127 trillion, which is roughly $1.1 million per taxpayer and nearly double 2012’s total world output.
With about 134,000 active members in Texas’ ERS at the end of fiscal year 2013, the total unfunded liability was $7.2 billion—or $54,000 per active member. Despite the much smaller future net debt obligations in ERS compared with federal programs, there are similarities how we got here.

Laurence Kotlikoff and Scott Burns’ book entitled The Coming Generational Storm: What You Need to Know About America’s Future argue federal unfunded liabilities are primarily from a generational accounting problem, in which the dependency ratio of retirees to taxpayers is declining from an aging population.

The authors’ state, “today there are about 4 payees for every 1 beneficiary, but by the year 2030 there will only be 2 payees for every 1 beneficiary. Simple arithmetic will note that this is not sustainable over the long run.”

To understand the magnitude of this problem, the authors note one solution that includes all the following: “raise income taxes by 17 percent, raise payroll taxes by 24 percent, cut federal purchases by 26 percent, and cut Social Security and Medicare benefits by 11 percent.”

In the current political and economic environment, these changes are highly unlikely, but it shows the substantial economic costs associated with these large unfunded liabilities.

State pensions across the country also face this generational accounting problem, whereby an author discusses his research in a recent Wall Street Journal op-ed entitled “The Hidden Danger in Public Pension Funds” stating, “The ratio of active public employees to retirees has fallen drastically, according to the State Budget Crisis Task Force. Today it is 1.75 to 1; in 1950, it was 7 to 1. This means that a loss in pension investments has three times the impact on state and local budgets than 40 years ago.”

In addition to an aging population in Texas creating substantial challenges with funding ERS, it is also riddled with a problem many state pension portfolio managers face: low rates of return on risk-free assets, such as a one-year Treasury security that returns less than 1 percent.

As these managers choose riskier investments to gain a higher rate of return, the study cited in the WSJ op-ed notes that the standard deviation of public pension investments to state and local budgets—a good measure of risk—has increased 10-fold from about 2 percent in 1975 to 20 percent today. Along with fewer people contributing to these pensions, riskier investments should be of grave concern to all.

Since the actuarial funded ratio of ERS is 77 percent based on an 8 percent annual rate of return, this rate of return and the risk-taking portfolio managers must use to gain this return are vital. Over the last five years, the fund’s annual return was 6 percent and 7.1 percent over the last ten years. Although the ten-year annual average was close to 8 percent, there is no guarantee this will continue, which could dramatically lower the funded ratio.

Clearly, the generational accounting problem burdening programs at the federal level also burden Texas’ pensions and the more risky assets portfolio managers must invest in are increasing the susceptibility of an even lower funded ratio in the future.

http://www.forbes.com/sites/realspin/2014/01/17/you-think-the-deficit-is-bad-federal-unfunded-liabilities-exceed-127-trillion/

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The Pronk Pops Show 387, December 12, 2014, Story 1: Corrupt Collectivist Congressional Conduct — Spending Addiction Disorder (SAD) Budget Binge — Oligarchs Overdose — Tyranny of The Two-Party System — Mutually Assured Destruction Of Big Government Democratic and Republican Parties — The Professional Elitist Establishment (PEEs) Pee On The American People and The United States Constitution and Republic — Throw The Bums Out — Videos

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The Pronk Pops Show Podcasts

Pronk Pops Show 387: December 12, 2014

Pronk Pops Show 386: December 11, 2014

Pronk Pops Show 385: December 9, 2014

Pronk Pops Show 384: December 8, 2014

Pronk Pops Show 383: December 5, 2014

Pronk Pops Show 382: December 4, 2014

Pronk Pops Show 381: December 3, 2014

Pronk Pops Show 380: December 1, 2014

Pronk Pops Show 379: November 26, 2014

Pronk Pops Show 378: November 25, 2014

Pronk Pops Show 377: November 24, 2014

Pronk Pops Show 376: November 21, 2014

Pronk Pops Show 375: November 20, 2014

Pronk Pops Show 374: November 19, 2014

Pronk Pops Show 373: November 18, 2014

Pronk Pops Show 372: November 17, 2014

Pronk Pops Show 371: November 14, 2014

Pronk Pops Show 370: November 13, 2014

Pronk Pops Show 369: November 12, 2014

Pronk Pops Show 368: November 11, 2014

Pronk Pops Show 367: November 10, 2014

Pronk Pops Show 366: November 7, 2014

Pronk Pops Show 365: November 6, 2014

Pronk Pops Show 364: November 5, 2014

Pronk Pops Show 363: November 4, 2014

Pronk Pops Show 362: November 3, 2014

Pronk Pops Show 361: October 31, 2014

Pronk Pops Show 360: October 30, 2014

Pronk Pops Show 359: October 29, 2014

Pronk Pops Show 358: October 28, 2014

Pronk Pops Show 357: October 27, 2014

Pronk Pops Show 356: October 24, 2014

Pronk Pops Show 355: October 23, 2014

Pronk Pops Show 354: October 22, 2014

Pronk Pops Show 353: October 21, 2014

Pronk Pops Show 352: October 20, 2014

Pronk Pops Show 351: October 17, 2014

Pronk Pops Show 350: October 16, 2014

Pronk Pops Show 349: October 15, 2014

Pronk Pops Show 348: October 14, 2014

Pronk Pops Show 347: October 13, 2014

Pronk Pops Show 346: October 9, 2014

Pronk Pops Show 345: October 8, 2014

Pronk Pops Show 344: October 6, 2014

Pronk Pops Show 343: October 3, 2014

Pronk Pops Show 342: October 2, 2014

Pronk Pops Show 341: October 1, 2014

Pronk Pops Show 340: September 30, 2014

Pronk Pops Show 339: September 29, 2014

Pronk Pops Show 338: September 26, 2014

Pronk Pops Show 337: September 25, 2014

Pronk Pops Show 336: September 24, 2014

Pronk Pops Show 335: September 23 2014

Pronk Pops Show 334: September 22 2014

Pronk Pops Show 333: September 19 2014

Pronk Pops Show 332: September 18 2014

Pronk Pops Show 331: September 17, 2014

Pronk Pops Show 330: September 16, 2014

Pronk Pops Show 329: September 15, 2014

Pronk Pops Show 328: September 12, 2014

Pronk Pops Show 327: September 11, 2014

Pronk Pops Show 326: September 10, 2014

Pronk Pops Show 325: September 9, 2014

Pronk Pops Show 324: September 8, 2014

Pronk Pops Show 323: September 5, 2014

Pronk Pops Show 322: September 4, 2014

Pronk Pops Show 321: September 3, 2014

 

The Pronk Pops Show 387, December 12, 2014, Story 1: Corrupt Collectivist Congressional Conduct — Spending Addiction Disorder (SAD)  Budget Binge — Oligarchs Overdose — Tyranny of The Two-Party System — Mutually Assured Destruction Of Big Government Democratic and Republican Parties — The Professional Elitist Establishment (PEEs) Pee On The American People and The United States Constitution and Republic — Throw The Bums Out — Videos

Oligarchy

a form of government in which all power is vested in a few persons or in a dominant class or clique; government by the few.

Political Elitist Establishment (PEEs) Pee on

American People, United States Constitution and Republic

obama_boehner13firstdraft-harry-reiddemocratic leadership130129_mitch_mcconnell

enemies of the people

 

 

Media Blasted Ted Cruz For Balking At Budget Deal But Lets Liz Warren Slide – Cavuto

Bachmann not backing down on last day in Congress

Budget Deal Passes House – Michelle Bachmann & Steve King – Hannity

Wall Street Launches Assault On Your Money

Remarks by Senator Warren on Citigroup and its bailout provision

Elizabeth Warren Rips Wall Street Giveaway

5 HORRIBLE Things in the New Budget Deal

Senate Releases CIA Torture Report & Bipartisan Budget Deal

US House passes critical budget bill

US House passes $1.1tn budget bill to avert shutdown

House passes vital $1.1 trillion budget deal, legislation now moves to Senate

What Wall Street won in budget deal

To critics, the changes to banking regulations lawmakers slipped into a spending bill is nothing more than a giveaway to banks. And the losers will be taxpayers, who’ll be on the hook for future bailouts.

But to Wall Street, the change is a common-sense revision to a regulation that went too far in the first place.

To hear bankers and their lobbyists say it, the regulation that Congress is poised to wipe away would make the banking system more risky — not less risky.

At the center of the dispute are arcane financial instruments known as loan swaps. Those are contracts between banks used to spread the risk in their loans and trades.

A rule that would have limited the use of those swaps by commercial banks (think Citigroup (C) or JPMorgan Chase (JPM)) was essentially stripped out of the law during budget negotiations in recent days.

The move sparked outrage, mostly from progressives but also from some conservatives.

“This provision is all about goosing the profits of the big banks,” said Democratic Senator Elizabeth Warren. The change in the law “will simply confirm the view of the American people that the system is rigged.”

Swaps were ground zero of the 2008 meltdown of the global financial system. That’s because banks had bundled risky mortgage loans and sold them as bonds. And to make the bonds more appetizing to investors, swaps were created as a form of insurance that the bonds would pay as promised.

So when the housing bubble burst and so many people couldn’t afford their mortgage payments anymore, those bonds blew up. And the banks and firms like AIG (AIG) that held the suddenly-toxic swaps contracts needed bailouts.

Related: Congress right back where it started

Fast forward to 2009 and 2010,when Congress passed the Dodd-Frank financial reform act. The idea was to prevent a repeat of the 2008 meltdown.

One provision of Dodd-Frank to protect taxpayers was a rule saying major banks couldn’t use their normal commercial banking operation to create, buy or trade these kinds of swap contracts. Instead those contracts had to be held by separate entities whose assets were not insured by the Federal Reserve or the Federal Deposit Insurance Corp.

“If Wall Street banks want to gamble, Congress should force them to pay for their losses, and not put the taxpayers on the hook for another bailout,” said a letter signed this week by both one of the most conservative senators, David Vitter, and one of the most liberal, Sherrod Brown.

Even though Dodd-Frank was signed into law more than four years ago, the rules to limit banks gambling with taxpayer-backed money are not yet completely in place. That opened the door for a $6 billion dollar loss by JPMorgan Chase (JPM) due to actions of a trader known as the “London Whale.

But as part of a bill to avert a government shutdown, the banking industry won a roll-back of the rule. Banks insists they use swaps in order to limit their risks, not make them more risky. Without swaps, it will be the Main Street customers, not Wall Street, who will be hurt, they argued.

“Hedging and mitigating risk are not only good business practices, but are important tools that banks use to help borrowing customers hedge their own business risks,” said the statement James Ballentine, the head of congressional relations for the American Bankers Association.

 

http://money.cnn.com/2014/12/12/investing/congress-wall-street/

Congress narrowly averts government shutdown

By Deirdre Walsh, Ted Barrett and Alexandra Jaffe, CNN

Congress narrowly averted a government shutdown that was slated to take effect at midnight. The House approved a $1.1 trillion spending bill that keeps the government open through September. The Senate agreed to a two-day extension of current funding levels to give itself time to approve the House bill.

After a tumultuous day, the House passed the spending bill in a 219-206 vote.

Early Friday morning, President Barack Obama signed the deadline extension to midnight Saturday.

The Senate will likely vote on the House bill on Friday, though that could slip. President Barack Obama is expected to sign it into law once it passes the Senate.

The bill would keep most of the government running through the end of September, but only funds the Department of Homeland Security through February, when Republicans have vowed to pass new restrictions on the agency responsible for carrying out Obama’s executive orders on immigration.wn

The bill garnered significantly more support from Republicans than Democrats. Those who did support it may have headed pleas from White House officials — including Obama and Vice President Joe Biden — pressing them to advance the spending bill.

White House Chief of Staff Denis McDonough also urged Democratic lawmakers during a late-Thursday caucus meeting to vote for the bill because they would lose much of their leverage on future spending bills, lawmakers at the meeting said.

Democratic Rep. John Larson of Connecticut said the lobbying from the President had helped move things along with the caucus.

“Obviously, I think the President also getting on the phone — some working the respective caucuses — was influential,” he told CNN.

But many progressives were outraged at the bill’s passage and suggested it would undermine Democrats’ effectiveness down the line.

“What I see is our Democratic Party — in a weakened position and trying to protect our constituents and the people. And at the same time having to make some terrible choices,” said California Rep. Maxine Waters, a key Democratic opponent of the bill, after the vote.

She said the vote was an example of “the old politics of fixing things around the edges so that you can feel better, rather than putting up a strong fight” and standing against Republican attempts to insert unpalatable policies into bills, which she suggested is more likely next year when Republicans take full control of Congress.

Other Democrats, however, saw the bill’s passage as a triumph of cooperation between the two parties, and a signal that they can move past the gridlock and dysfunction that’s plagued Washington for years.

“It’s an economic message of, we can get something done. We’re not going to always be dysfunctional, and I think that’s a welcome message for voters,” said Rep. Gerry Connolly, a Virginia Democrat. “They want to see that. And we don’t lose a thing.”

The vote capped a day of drama in the House. The chamber recessed for nearly seven hours as leaders scrambled to find votes to move the bill across the finish line. The chaos was fitting for a Congress that has already gone through one government shutdown and has been generally characterized by turmoil and inertia.

If anything, Thursday’s tumult highlighted the disconnect between Obama and congressional Democrats. Nancy Pelosi, the House Democratic leader, came out in strong opposition to the measure even as Obama was pressing her members to back it.

Democrats aligned with Pelosi took issue with policy provisions added to the bill raising the cap on donations to political parties and rolling back a key plank of the Dodd-Frank financial reform bill.

“This bill puts a big bow on a holiday gift for the Wall Street contributors who get special treatment in the provisions of this bill,” Rep. Lloyd Doggett, D-Texas, said ahead of the vote. “It’s all about stuffing the silk stockings, and these people want to gamble with our money.”

Conservative Republicans, meanwhile, fought the bill because they were angry that it didn’t combat Obama’s executive action on immigration.

It became clear earlier Thursday that Speaker John Boehner would have a tough time getting the package through the House. The chamber barely approved a routine procedural hurdle that sets up a vote on the spending bill later in the day. In an unusual move, Boehner was called upon to provide a key vote so the House could advance to the bill.

Though congressional leaders worked on backup options in case this bill failed, the Office of Management and Budget still discussed contingency plans on Thursday if the government was unable to open on Friday.

 

CROMNIBUS: A WINTER FESTIVAL OF UNRESTRAINED SPENDING
Cromnibus: a winter festival of unrestrained spending
By: John Hayward
12/10/2014 10:07 AM

 

As they had a habit of saying throughout the interstellar empire of “Dune,” the spice must flow. Money is once more flowing out of Congress to all manner of follies and outrages, thanks to an omnibus spending bill that funds everything except Homeland Security through September of 2015 – throwing away every scrap of leverage the incoming Republican majority could possibly exercise against Emperor Obama, ensuring that no one outside the authors of Democrat Party fundraising email spam will be talking about shutdowns, and effectively neutering freshly-elected conservatives. The GOP leadership can get through another year with its favorite wheezy excuse for not standing up and fighting for anything: Our hands are tied. Sure, the knots are a bit clumsy, but that’s to be expected when you tie your own hands. It’ll be good enough for the permanent Beltway culture, which can have a very merry Christmas, riding their one-horse open sleighs down streets coated with a fresh blizzard of taxpayer dollars, jingling all the way.

Americans with some vague memory of how the system is supposed to work might be wondering what happened to the sober deliberation of budgets, the careful spending of every dollar, and even the basic rules of accounting. Welcome to the new millennium, old-timers! We don’t do things that way any more. Government by perpetual crisis is so much more exciting, and lucrative for the Ruling Class. Now we wait until the hands of the fiscal doomsday clock stand at one minute to midnight, and the political class has to fund everything with “emergency spending bills,” scribbled in blind haste and posted on glitchy websites for public review in a half-hearted ritual of “transparency.” We live in the shadow of the cromnibus, an appropriately clunky word that combines “continuing resolution” emergency tactics with “omnibus spending” irresponsibility. The Cromnibus is a flabby beast a gaping maw and many tentacles to feed itself, but it lacks eyes, ears, and a frontal lobe.
Anyone who raises the slightest objection to this panicky spending bonanza is denounced as a penny-pinching extremist monster who just wants to kill children, puppies, and kittens for fun, by shutting down the government that keeps them alive. You don’t want Obama to throw up barricades around your national parks and memorials again, do you? No? Then shut up and spend.

The sole reservation in the winder spending festival is the Department of Homeland Security – which, as Fox News explains, is only funded through February, so the GOP leadership can pretend it’s going to stage a huge fight over Obama’s illegal amnesty orders next year. This is supposed to mollify the starchy citizens who still care about antiquated notions like the rule of law, the separation of powers, the value of citizenship, and national security long enough for the Establishment to enjoy its holiday vacation.

The bill finances the day-to-day operations of every Cabinet department except Homeland Security through Sept. 30, 2015, with $521 billion for defense and $492 billion tied to non-defense. Another $64 billion is provided for overseas military operations.

However, the plan would only fund the Department of Homeland Security through Feb. 27, 2015. That is a move by House GOP leaders to tee up a debate in early 2015 over the president’s recent executive action that could suspend deportation for as many as 5 million illegal immigrants.

Some conservatives nevertheless want to wage that battle now, and use the current spending bill as leverage. Though the House voted last week against Obama’s immigration plan, these lawmakers want to do more.

Strong opposition to the House budget plan from the Republicans’ conservative wing could force GOP chamber leaders to rely on Democratic votes to avert a government shutdown. House Speaker John Boehner can afford to lose only 17 caucus votes before he must turn to support from House Democratic Leader Nancy Pelosi.

Pelosi, D-Calif., has said her party would be willing to help but has signaled she may make some demands.

Wonderful. Let’s have a big round of applause for the GOP Establishment, ladies and gentlemen! They managed to throw away the most remarkable electoral victory in a generation in only one month, maneuvering themselves into a position where the losers who got crushed will be making demands to win their support for a bill that effectively ratifies their will through half of their sojourn in electoral exile.

There was no reason to give the defeated Democrats anything except a stop-gap bill to fund the government through January, at which point the incoming Republican majorities should have exercised control over everything. If the Democrats don’t like that deal, let them shut down the government in a fit of pique, and tell voters how they party they just threw out of power should be allowed to control their lives for an extra year. Not only would that be smart politics – giving the Republicans more fiscal leverage to stand up for America against Obama’s amnesty, instead of just funding for the Department of Homeland Security – but it would represent more sensible and responsible government. All of this multi-trillion-dollar monstrosity is linked together; all of it should be on the table; the flab should be liposuctioned out of every agency at once in a comprehensive plan for fiscal sanity and increased American liberty.

I think a liposuction metaphor is particularly appropriate, because the federal faceplant over Ebola should have taught us that over-funded agencies are not merely wasteful, but inefficient. They fail at their core responsibilities when given extravagant funding to purchase bright shiny objects to distract themselves. If you want the Centers for Disease Control to focus on controlling diseases, don’t give them zillions of dollars to spend on building fancy bureaucratic palaces and conducting monkey-gambling studies. We should be having that discussion immediately, while the failures of managerial liberalism are fresh in the public mind.

Some conservative stalwarts have expressed a desire to keep the lame-duck Congress from waddling away with a trillion dollars tucked under its mangy wings, but they concede the panicky rush to pump out “emergency” spending makes it difficult to mount effective resistance:

Among those expected to vote against the bill is South Carolina GOP Rep. Mike Mulvaney.

“I don’t think we’ve proven to people who just re-elected us that we’re doing everything that we can,” he told FoxNews.com on Tuesday before the bill was released. “Now we’re going to fund the emperor (President Obama) without putting up a fight? That’s hard for me to swallow.”

On the Senate side, conservatives such as Sens. Ted Cruz, R-Texas; Mike Lee, R-Utah; and Jeff Sessions, R-Ala., could create problems in passing the bill.

They have pushed for an aggressive attack plan over Obama’s immigration actions. If any chooses to filibuster, it could draw out the process, potentially pushing debate into the weekend — requiring Congress to either pass a stopgap funding bill or risk at least a short partial shutdown.

Senate Republican aides said Monday that they didn’t expect their bosses to fight in a way that risks a partial shutdown. They suggest that the timing, with the Senate not expected to take a crack at the bill until Thursday or later, makes it difficult to launch a major fight.

“It cuts against us,” one Republican Senate aide said. “Leadership has played its hand very well.”

Gee, it’s too bad the Republican leadership can’t play a hand well against Democrats, isn’t it? They only turn into card sharks when they’re playing against the conservatives in their own party. Don’t expect them to be pulling any cards from their sleeves when they sit down for their scheduled February game of Amnesty Hold ‘Em, and the dead-eyed Democrats on the other side of the table begin screaming “Republican extremists want to defund Homeland Security!”

Why any of these leadership strategists think voters will reward them in 2016 after they (a) give the country away to Emperor Obama and his new imported class of super-citizens, and (b) allow the defeated minority party to effectively run Washington for a year, remains a mystery. Presumably they think their own base really isn’t all that serious about the rule of law and U.S. citizenship – it’s a bout of intense anger that will pass, perhaps aided by some idle speculation about all the wonderful things a Republican president can do with Obama’s imperial powers. The same leadership geniuses will sit in shock, mouths flapping helplessly like beached fish gasping for air, when the Beltway media complex instantly strips Obama’s Republican successor of those powers before his first hundred days are over. When they lose their majority to Democrats, they’ll sob and beg the new masters of Congress to remember how well Republicans treated the decimated Democrat Party in 2014… while the Democrats ruthlessly set about marginalizing Republicans, stripping them of power, and throwing their wadded-up budget proposals right back in their tear-streaked faces.

The Republican leadership isn’t just bad at standing up for its principles and fulfilling commitments to its voters. It seems institutionally incapable of understanding, as Democrats do, that power won today must be used to set the stage for tomorrow’s elections. Democrats target constituencies and service them, including constituencies that aren’t actually American citizens. Republicans try to figure out how badly they can get away with disappointing their base while they service a Beltway culture some of them fear, and others profit from.

If the Republican leadership was smart, they’d be looping events such as Jonathan Gruber’s disastrous House testimony into a big-picture assault on arrogant, wasteful government, and reminding the hard-working, rules-obeying American taxpayer how much contempt Democrats hold them in. A proper budget debate right after the holidays would be a great way to do that. The Democrats fear nothing more than a sharp Republican Party playing that kind of hardball and appealing directly to the working middle class, which is so comprehensively betrayed by the Democrat philosophy of rewarding its big contributors and powerful special interests at the expense of everyone else. There’s a lot of junk in this “cromnibus” spending bill that could be used to buttress such a case, such as a juicy payoff to outgoing Majority Leader Harry Reid’s casino backers… but then, in order for Republican leaders to make hay over such corruption, they’d have to give up their pork and payoffs, and they don’t want that.

The only reliable bipartisanship in Washington is the agreement between both parties to serve and protect the permanent system of regulators, appropriators, lobbyists, and Big Media, which have fused together into a single organism with a shared bloodstream, through which well-connected individuals and flow from lobby organizations, to bureaucratic appointments, to media sinecures with ease. Look at the resume of a Beltway power player, and you’ll have a hard time telling the difference between elected officials, the agencies they nominally control, the special interests they serve, and the media that’s supposed to keep them all honest. The same person can work for all of those entities in the span of a decade. The only thing they really cooperate on is the care and feeding of the Cromnibus, the misshapen thing that feeds them all through its multitude of teats.

If all this “omnibus spending bill” jazz sounds familiar, it’s because we’ve played through the same hammy drama every year for the better part of a decade. In fact, the term “cromnibus” – currently beloved of such feisty insurgents as Senator Ted Cruz (R-TX) – is said to have been coined by the office of then-House Minority Leader John Bohener, circa 2007, when he energetically criticized the Democrat majority for doing exactly what Boehner is doing today. The Cromnibus has devoured those who once fought to keep it at bay. No one in power even pretends to be interested in responsible government any more, because the American people don’t loudly insist on it… and we should have learned by now that only our loudest, angriest, most unified cries can be heard over the constant seductive whisper of the Cromnibus. Enjoy your latest round of desperate last-minute must-pass emergency spending from the same arrogant elites who claim they alone have the wisdom to manage every aspect of your life, and be advised you’ll be getting the same “present” from them next Christmas, and the one after that.

http://humanevents.com/2014/12/10/cromnibus-a-winter-festival-of-unrestrained-spending/

 

GOP Rep: House Leaders Made False Promise to Get My Crucial Vote

Representative Marlin Stutzman (R., Ind.) accused House Republican leadership of reneging on a deal made with him to get his support on a crucial procedural vote that almost killed the $1.1 trillion cromnibus funding bill.

“I was very surprised and even more disappointed to see the cromnibus back on the floor,” Stutzman said in a Thursday evening statement. “The American people deserve better.”

Stutzman was one of the last Republicans to cast his ballot in favor of a rule allowing the House to vote on the cromnibus. National Review Online reported that Stutzman backed the rule at the last minute after leadership told him that they would pull the bill, once the rule was passed, and replace it with a short-term continuing resolution favored by rank-and-file conservatives. With the last-minute help of Stutzman and outgoing representative Kerry Bentivolio (R., Mich.), leadership won the vote 214–212.

“I supported the rule because I was informed by leadership that the cromnibus was dead and a short term CR would take its place,” Stutzman said.

After President Obama came out in favor of the funding bill, Republican leaders spent the day whipping their members and hoping that Democrats would deliver the requisite number of votes.

“The cromnibus bill, over 1,600 pages long, does many things but what is most important is what it does not do,” he said. “It fails to directly address President Obama’s dangerous executive action on immigration and fails to include many of the solutions that could have been passed in January with a Republican House and Senate in an open process.”

http://www.nationalreview.com/corner/394531/gop-rep-house-leaders-made-false-promise-get-my-crucial-vote-joel-gehrke

 

House Narrowly Approves Massive Spending Bill After a day of drama, the chamber passed a $1 trillion bill to keep the government running and sent it to the Senate.

BY DANIEL NEWHAUSER AND BILLY HOUSE

House Speaker John Boehner and Majority Leader Kevin McCarthy were able to get enough votes to pass the omnibus Thursday.(Chip Somodevilla/Getty Images)
December 11, 2014 The House narrowly approved a massive spending bill Thursday night just before the government was set to run out of cash, as an unusual coalition of Republicans and Democrats teamed up to pass a measure that drew fierce criticism from both liberals and conservatives.

The $1 trillion spending measure passed 219-206, with 162 Republicans and 57 Democrats in favor. It now heads to the Senate for passage, though because the government is technically set to shut down at midnight, the House was also prepared to pass a short-term resolution to give the other chamber a few days to act.

With President Obama joining all Republican leaders and House Minority Whip Steny Hoyer in support of the package, backers were able to overcome a concerted effort led by House Minority Leader Nancy Pelosi and other key liberals—including Sen. Elizabeth Warren—who complained that the measure was larded up with provisions to help Wall Street, among other special interests. Many on the right also balked at the bill, preferring to punt long-term spending decisions until next year when Republicans control the Senate.

Senate Majority Leader Harry Reid took to the Senate floor shortly after the House passed the omnibus measure, assuring members that the Senate would pass a two-day continuing resolution before midnight in order to keep the government’s doors open. “We’ll take up the long-term spending bill tomorrow. Senators will want to debate this legislation. They’ll have that opportunity,” Reid said.

Reid noted that under an agreement with all 100 senators, the chamber cold take up the omnibus spending bill as soon as Friday. Absent such an agreement on timing, the bill could take up to two days, setting up final passage as late as Monday. Reid said that “there’s conversations going on now” to expedite the process for the Senate to pass the spending bill, as well as several other must-pass bills including the National Defense Authorization Act.

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“We could be out of here fairly quickly, but everyone’s going to have to work together to get this done,” he said.

House Republicans had narrowly cleared a major hurdle Thursday morning in their race for the exits, passing the rule governing debate for the “CROmnibus” bill by a razor-thin 214-212 margin. After recessing the House for several hours as they hunted for more support, GOP leaders finally called for a vote just after 9 p.m.

As members were being called back into the chamber to vote on the spending bill, it remained unclear whether there actually were enough votes to pass it.

Before concluding a closed-door Democratic Caucus meeting before the vote, Pelosi was not telling her rank-and-file members to vote one way or the other.

“I’m giving you the leverage to do whatever you have to do. We have enough votes to show them never to do this again,” she told them, according to a source in the room.

With the possibility still looming that the government would shut down at midnight, the White House stepped up its lobbying of members to support the omnibus bill, and the Office of Management and Budget even held a conference call with federal agencies to discuss contingency planning.

“We continue to believe that time remains for Congress to pass full-year appropriations for FY 2015, and prevent a government shutdown,” an OMB official said. “However, out of an abundance of caution, we are working with agencies and taking steps to prepare for all contingencies, including a potential lapse in funding.”

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Leaders of both parties huddled with their members in groups large and small Thursday afternoon and evening, trying to gauge support for the spending bill that is so big it has provisions disliked by everyone.

Rep. Chaka Fattah, a senior member of the House Appropriations Committee, said the bill should be returned to its original form without campaign finance language boosting donation limits to political parties and the provision altering language in the Dodd-Frank financial services bill, though Republicans have vowed not to change the bill at that point.

White House Chief of Staff Denis McDonough addressed House Democrats on Thursday night, mawking what Fattah called a “very strong pitch.”

Rep. Steve Israel of New York said McDonough made the case to House Democrats that the economy needs the consistency and the certainty of a one-year spending package.

“There are some people who really are not going to let Elizabeth Warren get to the left of them,” said retiring Rep. Jim Moran, referring to the Massachusetts Democrat who has been especially critical of the bill.

One of the leaders of the opposition was Rep. Maxine Waters, the top Democrat on the Financial Services Committee. She was aided in her whip operation against the bill by more than two dozen members.

The rule passed earlier Thursday only after two Republicans, Reps. Kerry Bentivolio and Marlin Stutzman, were persuaded by leaders to switch their votes from no to yes. Every Democrat voted against the rule.

Asked about the spending bill GOP leaders might bring up if the omnibus failed, House Majority Leader Kevin McCarthy avoided answering the question. “Why do Democrats want to shut down the government?” he asked.

Boehner was more dramatic later Thursday morning, telling reporters: “If we don’t get finished today, we’re going to be here until Christmas. You all know how this process works.”

web:537067:article

The White House gave the omnibus bill a key boost Thursday, announcing that the Obama administration supports its passage despite “the inclusion of ideological and special interest riders” as well as the decision to offer only short-term funding for the Department of Homeland Security. That cover from Obama has likely made it easier for at least some congressional Democrats to back the measure. The White House has also been calling House Democrats about the bill, according to sources.

White House press secretary Josh Earnest said at Thursday’s press briefing that if the bill reaches Obama’s desk, “he will sign it.”

This story has been updated throughout the day.

 

Rogers: Omnibus Package Responsibly Funds the Federal Government, Avoids a Shutdown, Makes Good-Government Policy Changes

Washington, Dec 9 

The House Appropriations Committee today unveiled the fiscal year 2015 Omnibus Appropriations bill, the legislation that will provide discretionary funding for the vast majority of the federal government for the current fiscal year.

The bill includes full Appropriations legislation and funding for 11 of the 12 annual Appropriations bills through the end of the fiscal year, September 30, 2015. The 12th bill, which funds the Department of Homeland Security, is also included in the legislation, but is funded under a temporary “Continuing Resolution” mechanism that expires on February 27, 2015.

The package also contains emergency Overseas Contingency Operations funding to combat the emerging real-world threat brought by the Islamic State of Iraq and the Levant (ISIL), and a total of $5.4 billion in emergency funding to address the domestic and international Ebola crisis.

“This bill will allow us to fulfill our Constitutional duty to responsibly fund the federal government and avoid a shutdown. The 11 Appropriations bills in this package reflect specific, thoughtful, line-by-line decisions to target funds to critical programs, make reductions to lower-priority areas, and wisely invest the taxpayers’ hard-earned money. And by continuing current funding levels for the Department of Homeland Security, we allow the agency to maintain essential security functions for the next few months,” House Appropriations Chairman Hal Rogers said.

Funding for programs within the 11 regular Appropriations bills were weighed individually and prioritized, with dollars targeted to the most important and effective programs, while lower-priority programs were cut. Also included in these 11 bills are important policy provisions to improve accountability and transparency, to ensure good government, and to put the brakes on harmful overregulation by federal agencies.

“This package makes the most of each and every dollar, roots out waste and abuse, reins in bureaucratic overreach, and provides stable funding for important national programs – including our national defense – for the remainder of the fiscal year. It reflects conservative priorities, yet it is also a compromise bill that can and should have wide bipartisan support in both the House and Senate. This is exactly the kind of legislation and bipartisan cooperation that the American people called for in the voting booths last month. Passage of this bill will show our people that we can and will govern responsibly,” Rogers continued.

Bill Highlights –

Funding Level The bill abides by all the terms set by the Bipartisan Budget Act of 2013 (the “Ryan-Murray Agreement”), providing a total of $1.013 trillion for the operation of the federal government, and meeting the $521 billion defense and $492 billion non-defense budget caps.

The legislation contains full funding for fiscal year 2015 for 11 of the 12 regular annual Appropriations bills, with the exception of the Department of Homeland Security (DHS). The Homeland Security portion is funded under a temporary Continuing Resolution (CR). This CR maintains DHS funding at the current fiscal year 2014 level, and expires on February 27, 2015.

National Security – The Omnibus contains the fiscal year 2015 Defense Appropriations bill, providing funding for our nation’s security, military readiness, and resources for our troops at home and abroad. The bill will fund important Department of Defense programs and projects, a pay raise for our troops, and the advancement of our military operations to protect the nation from current and future threats.

The bill also includes $64 billion in Overseas Contingency Operations (OCO) funding to provide needed resources and training for our troops in the field, to combat the threat presented by ISIL, to train and equip our Iraqi allies, and to reinforce European countries facing Russian aggression.

Bolstering Job Creation and Reining in Bureaucratic Overreach – The legislation prioritizes funding for important programs that strengthen U.S. innovation and competitiveness, and that help our businesses thrive, such as small business loans, science research funding, resources to expedite domestic energy development, and critical infrastructure investments.

The bill also includes many provisions to rein in regulatory overreach that causes job loss and harm to our economy. Some of these provisions include:

  • A provision to prohibit the Export-Import Bank and OPIC from blocking coal and other power-generation projects – helping to increase exports of U.S. goods and services;
  • A provision prohibiting funds for the Army Corps of Engineers to change the definition of “fill material,” which could have harmful effects on many U.S. industries;
  • A restriction on the Grain Inspection, Packers and Stockyards Administration (GIPSA) from implementing regulations harmful to the livestock and poultry industry;
  • Language amending Dodd-Frank swaps pushout requirements to protect farmers and other commodity producers from having to put down excessive collateral to get a loan, expand their businesses, and hedge their production;
  • Provisions restricting the application of the Clean Water Act in certain agricultural areas, including farm ponds and irrigation ditches; and
  • A provision prohibiting funding for the Fish and Wildlife Service to issue further rules to place sage-grouse on the Endangered Species List – an action that could have severe economic consequences in Western states.

ObamaCare – The bill provides no new funding for ObamaCare, and holds the line on funding for the IRS and the Centers for Medicare and Medicaid Services – the primary agencies responsible for the implementation of ObamaCare.

Life – The Omnibus maintains all existing pro-life policy and funding provisions that have been carried in Appropriations legislation in previous years, including the Hyde Amendment, a ban on public funding for abortions in the District of Columbia, and a ban on abortion funding for federal prisoners.

The bill also includes new language allowing states increased access to abstinence education funding, new language directing the HHS Secretary to increase the transparency of abortion coverage within federal exchange health care plans, and new language directing HHS to quickly respond to claims filed by health care providers on conscience clause violations.

Other Policy Provisions – Many other important policy provisions are included in the Omnibus, such as:

  • A ban on the Administration’s onerous “light bulb” standard;
  • Provisions to protect Second Amendment rights, including a prohibition on funding for the EPA to regulate lead content in ammunition or fishing tackle;
  • Bans and limitations on federal agency conferences and awards;
  • Provisions to stop the transfer or release of Guantanamo detainees into the U.S.; and
  • A prohibition on funding for the IRS to target organizations for regulatory scrutiny based on their ideological beliefs or for exercising their First Amendment rights.

Savings and Oversight of Tax Dollars – The bill includes program cuts and oversight provisions to ensure the responsible use of taxpayer dollars. Some of these items include:

  • No funding for high-speed rail;
  • A $345.6 million cut and extensive oversight requirements for the Internal Revenue Service;
  • A $60 million cut and extensive oversight requirements for the Environmental Protection Agency;
  • Oversight and monitoring requirements to weed out waste and abuse in nutrition programs;
  • No funding for contributions to the UN Educational, Scientific, and Cultural Organization (UNESCO);
  • A pay freeze for the Vice President and senior political appointees;
  • No funding for the Administration’s “Race to the Top” program; and
  • No funding for the International Monetary Fund.

Omnibus Summaries For summaries of the 11 Appropriations bills within the Omnibus, please visit the following:

Agriculture

Commerce/Justice/Science

Defense

Energy and Water

Financial Services

Interior and Environment

Labor/Health and Human Services/Education

Legislative Branch

Military Construction/Veterans Affairs

State/Foreign Operations

Transportation/Housing and Urban Development

For the full text of the bill and accompanying report, please visit: http://docs.house.gov/floor/.

 

Boehner’s Spending Deals Have Increased Debt $3.8T in 3.8 Years

December 11, 2014 – 11:39 AM

By Terence P. Jeffrey

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(AP Photo/Jacquelin Martin)

(CNSNews.com) – The federal debt has increased by $3.8 trillion in the 3.8 years that have passed since House Speaker John Boehner cut his first spending deal with Senate Democrats and President Obama.

That works out to $32,938.38 for every household in the United States—including those taking federal welfare benefits—and $42,783.20 for every full-time year-round private-sector worker in the United States.

In fact, the $42,783.20 that the federal government has borrowed per full-time year-round private-sector worker since Boehner cut his first federal spending deal exceeds the $41,916 that according to the Census Bureau was the median annual earnings of full-time year-round private-sector wage and salary workers in 2013.

Boehner became speaker in January 2011, after the Republicans won a majority of the House of Representatives in the midterm elections of 2010. At that time, the government was operating under a continuing resolution that expired on March 4, 2011. Before that CR expired, Boehner cut a spending deal to fund the government after it expired.

Ever since March 4, 2011, all federal spending has been authorized by laws passed by the Republican-controlled House that Boehner leads.

At the close of business on March 4, 2011, the federal debt was $14,182,627,184,881.03, according to the Treasury. At the close of business on Dec. 9, 2014, it was $17,997,912,502,715.74.

From March 11, 2011 through Dec. 9, 2014, the debt increased $3,815,285,317,834.71.

1,376 days—or 3.8 years—transpired between March 4, 2011 and Dec. 11, 2014.

The $3.8 trillion in new debt that the federal government has accumulated under the spending deals approved by a Republican-controlled House of Representatives over the past 3.8 years equals $2,772,736,422.84 in new debt per day.

It also equals $32,938.38 in new debt for each of the 115,831,000 households the Census Bureau says were in the United States as of September, and $42,783.29 for each of the 89,177,000 full-time year-round private-sector workers that the Census Bureau says were in the United States in 2013.

http://www.cnsnews.com/news/article/terence-p-jeffrey/boehner-s-spending-deals-have-increased-debt-38t-38-years

 

BUREAU OF THE FISCAL 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:  10/14

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

     OCTOBER                                                                   198,927                289,511                 90,584
     NOVEMBER                                                                  182,453                317,679                135,226
     DECEMBER                                                                  285,041                231,821                -53,220
     JANUARY                                                                   295,997                306,247                 10,250
     FEBRUARY                                                                  144,349                337,880                193,532
     MARCH                                                                     215,846                252,741                 36,895
     APRIL                                                                     414,237                307,383               -106,853
     MAY                                                                       199,889                329,860                129,971
     JUNE                                                                      323,646                253,127                -70,519
     JULY                                                                      214,493                309,113                 94,621
     AUGUST                                                                    194,248                322,925                128,677
     SEPTEMBER                                                                 351,683                245,857               -105,826

       YEAR-TO-DATE                                                          3,020,809              3,504,145                483,336

   CURRENT YEAR

     OCTOBER                                                                   212,719                334,432                121,713

       YEAR-TO-DATE                                                            212,719                334,432                121,713
-

http://www.fiscal.treasury.gov/fsreports/rpt/mthTreasStmt/mts1014.txt

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The Pronk Pops Show 145, October 8, 2013: Segment 0: President Obama Will Not Cut Federal Spending, Speaker Boehner Will Not Raise Debt Ceiling Until Spending Is Cut — Let The Talks Begin — Videos

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