If anyone understands what is going on in Washington please explain it to me!
Granted it doesn’t take much to confuse me and I am not the sharpest tack in the box, but there are a few things I need clarification on if I am going to understand the speeches now being made by the president.
Referring to President Obama, Associated Press says:
He’s submitting his deficit fighting plan to a special joint committee of Congress that is charged with recommending deficit reductions of up to $1.5 trillion over 10 years.
In a defiant note, administration officials made clear Sunday that Obama would veto any Medicare benefit cuts that aren’t paired with tax increases on upper-income people…Obama backed away from proposing sweeping changes to Medicare,
Officials cast Obama’s plan as his vision for deficit reduction, and distinguished it from the negotiations he had with Boehner in July as Obama sought to avoid a government default.
As a result, it includes no changes in Social Security and no increase in the Medicare eligibility age, which the president had been willing to accept this summer.
-$1.5 trillion in new revenue, which would include about $800 billion realized over 10 years from repealing the Bush-era tax rates for couples making more than $250,000.
My confusion is this:
Last week Obama introduced ‘The American Jobs Bill’. In it he cuts Medicare Benefits and Social Security taxes. What has happened to ‘The American Jobs Bill?’ How does it stand in relation to what I just read? ‘The American Jobs Act’ will have to be vetoed by Obama if what the AP report says is true. Right?
One other thing? Doesn’t Congress write legislation? Who wrote the American Jobs Act?
- Obama to propose $1.5-trillion in new tax revenue (theglobeandmail.com)