‘FISCAL CLIFF & SEQUESTRATION’! But First, What Is The Terminology For A President Negotiating With Himself? ANSWER: POLITICAL MASTURBATION! Obama Keeps Raising His “Rich Folk Minimum” While GOP Remains Mum! That’s Not Compromise; That’s Capitulation Inch-By-Inch! Obama Did That In ObamaCare “Negotiations” – He Masturbated While GOP Practiced “Speak No Evil”. December 31st Became March 1, 2013! Unless Democrats “Capitulate” Again, The Earlier “Deal” (DEBT CEILING DEADLINE) Will Go Into Effect 3/1/13. “FISCAL CLIFF” And “SEQUESTER” – “In The Beginning”, MSM Spoke In Tongues Re “Fiscal Cliff” & “Sequestration”! Why Do YOU Permit The MSM Get Away With This Esperanto Doubletalk? Sorry, Folks, But The Real Enemy Sits In The Oval Office At 1600 Pennsylvania Avenue! OBAMA Aims To SLASH ENTITLEMENTS – LAST MINUTE DEALS Favor Corporate Wealthy! So We Can All Say, “Phew, We Dodged A Bullet, Didn’t We!” And Obama Is Using GOP Opposition To Achieve This End Under The Guise Of COMPROMISE = OBAMANATION! – Re Social Security Cuts, Dennis Kucinich, “NO TO A CATFOOD CHRISTMAS!” Next Key Date: March 27, 2013!

 

TABACCO: I began this Post on November 14, 2012. Lots of “content” has been axed because this Post is meant to give a recap of the important stuff, not a rewrite of ‘Gone With The Wind’!

 

They kicked the can on December 31, 2012, and again today, March 1, 2013. Today the Sequester in actuality becomes the Law of the Land. The next important date is March 27, 2013. That’s when the Continuing Resolution to “Fund the Government” EXPIRES! I “garontee” (as Justin Wilson, former Cajun Chef and TV humorist used to say) something will be done to nip that in the bud – and it will hurt the “Rest of Us” a lot more than it will affect the Rich!

 

If it were not for the Military CUTS, I would be suspicious that both sides always intended for this to happen. But knowing our Politicians as I do, I can never believe either side wants to Cut 13% of the National Budget diminishing Profits for War Profiteers & Disaster Capitalists!

 

             

          Justin Wilson “garontee”

 

 

 

When you read this Post, keep in mind the alleged ‘Social Security Trust Fund’, which has over $2-Trillion in Federal IOUs, but not 1-cent of Interest since FDR created it in 1935 – shhhhhhhhh!

 

So why is Social Security “dying” and the Fed ($13-Trillions in Debt) “alive and thriving”? Will some Republican Politician (or Democrat for that matter) explain that ILLOGIC to me!

 

 

 

 

 

TABACCO: President Obama VIOLATES one of the Primary Tenets of Negotiating, but he is not that dumb; he does it on purpose because he wants to achieve less than he proclaims. Call it “Bait & Switch” (as in ObamaCare wherein he never intended any sort of Single Payer, Public Option or Medicare for all) or call it “Deceiving His Own Constituents” (as in the Fiscal Cliff), this President is a Master of Deviousness & Deception!

 

We, who voted for him (that definitely includes me) must watch him like a Hawk! We cannot trust Obama! We knew what we had in Bush; he offered no surprises. But Obama will stab you in the back especially if you support him! All that Right-Wing abuse on Obama is disingenuous because Obama is more Right-Wing than George W. Bush. Beware of Black Politicians with “Liberal” Credentials! They don’t earn it by their words; they earn it by their deeds! And they must earn it!


http://www.whale.to/a/voltaire.html

 


 

TABACCO: I am now 71-years-old. In Elementary School, Kindergarten through 6th grades, no teacher (nobody) ever explained to me that George Washington, ‘The Father of our Country’ was a Slave Owner! And I went to 2 Black Elementary Schools, Dyer & Harriet Beecher Stowe in Cincinnati. Maybe my teachers didn’t know either?

 

It’s amazing how Americans can be deceived with “LIES OF OMISSION’ that are in PLAIN SIGHT! I went out in the streets today (December, 2012) and found out that only one guy even claimed he had “heard about it” – Fiscal Cliff & Sequester. The rest, Black and White, had no idea whatsoever!

 

They do it on purpose, folks! They give some dastardly deed an enigmatic phrase so that most folks won’t even be curious about the meaning of that enigmatic phrase – FISCAL CLIFF, indeed!

 

Neither Dems nor GOPers wanted to face November 6th with that information floating among the Voters. Hell, they might have elected the GREEN PARTY!

 

Without further ado, Tabacco gives you the

 

FISCAL CLIFF!

 

Let’s begin with the Republicans lest you Independents and Moderates out there think this is strictly a Democratic obscenity – it isn’t!


http://www.cbpp.org/cms/?fa=view&id=3658

Romney Budget Proposals Would Necessitate Very Large Cuts in Medicaid, Education, Health Research and Other Programs

PDF of this report (11pp.)

By Richard Kogan and Paul N. Van de Water

Updated September 24, 2012

 

Governor Mitt Romney’s proposals to cap total federal spending at 20 percent of gross domestic product (GDP) and boost defense spending to 4 percent of GDP would require very large cuts in other programs, both entitlements and discretionary programs. 

 

This update of an earlier analysis is based on updated economic and budget projections that the Congressional Budget Office (CBO) issued this summer and additional information that the Romney campaign has provided on his budget proposals.  The resulting estimates of the required budget cuts are somewhat smaller than the ones we released on May 21, but they are still very deep.

 

For the most part, Governor Romney has not outlined cuts in specific programs.  But if policy­makers repealed health reform (the Affordable Care Act, or ACA) and exempted Social Security from cuts, as Romney has suggested, and cut Medicare, Medicaid, and all other entitlement and discretionary programs by the same percentage to meet Romney’s overall spending cap and defense spending target, then they would have to cut non-defense programs other than Social Security by 22 percent in 2016 and 34 percent in 2022 (see Figure 1).  If they exempted Medicare from cuts for this period, the cuts in other programs would have to be even more dramatic — 32 percent in 2016 and 53 percent in 2022.

 

If they applied these cuts proportionately, the cuts in programs such as veterans’ disability compensation, Supplemental Security Income (SSI) for poor, elderly and disabled individuals, the Supplemental Nutrition Assistance Program (SNAP), formerly Food Stamps),

school lunches and other child nutrition programs, and unemployment compensation would cause the incomes of large numbers of households to fall below the poverty line.  Many who already are poor would become poorer.

 

Supplemental Security Income (SSI) for poor, elderly and disabled individuals, the Supplemental Nutrition Assistance Program (SNAP, formerly food stamps),

school lunches and other child nutrition programs, and unemployment compensation would cause the incomes of large numbers of households to fall below the poverty line.  Many who already are poor would become poorer.

 

The cuts in non­defense discretionary programs — a spending category that covers a wide variety of public services such as elemen­tary and secondary education, law enforcement, veterans’ health care, environmen­tal protection, and biomedical research — would come on top of the substantial cuts in this part of the budget that are already in law, due to the discretionary funding caps in last year’s Budget Control Act (BCA).  By 2022, the cuts under Governor Romney’s budget proposals would shrink nondefense discretionary spending — which, over the past 50 years, has averaged 3.9 percent of GDP and never fallen below 3.2 percent — to 1.8 percent of GDP if Medicare shares in the cuts, and to 1.3 percent of GDP if it does not.

 

These cuts would be noticeably deeper than those required under the austere House-passed budget plan authored by Budget Committee Chairman Paul Ryan (R-WI).  (Romney’s nondefense cuts are deeper because his proposal increases core defense spending — the defense budget other than war costs and some relatively small items such as military family housing — to 4 percent of GDP, while the Ryan budget does not.)  Over the coming decade, Romney would require cuts in programs other than core defense of $6.1 trillion, compared with $5.0 trillion in cuts under the House-passed budget plan. 

 

The remainder of this expansive Article received “GWTW” excising by Tabacco as previously advised. After all, this particular Vermin, Romney, lost the Election! If you want to know what a Romneyesque Victory would have looked like, go to URL above and read entire Text with Graphics!

 

I also took the liberty of excising

 

Moyers & Company Transcript “Fiscal Cliff & Fiscal Realities”

 

and

 

Transcribe ‘On The Money With Maria Bartiromo’, 1/6/13 Excerpts

 


Boldprogressive & The Huffington Post are BOTH LEFT-WING, DEMOCRATIC SOURCES, folks, just like me! We’re not talking GOP here! Black folks need to WAKE UP! Obama is NOT on our side (GENERIC Middle Class or Black Middle Class)! Obama is a TRICKLE-DOWN, RIGHT-WING, ANTI-MIDDLE CLASS POLITICO!

 

As the e-mail above says, “RAW DEAL”!

 


http://en.wikipedia.org/wiki/United_States_fiscal_cliff

 


TABACCO: Will someone please show me where the Republicans have compromised anything – please!



http://www.washingtonpost.com/blogs/wonkblog/wp/2012/12/17/a-fiscal-cliff-deal-is-near-here-are-the-details/

 

A ‘fiscal cliff’ deal is near: Here are the details

 

All at once, a “fiscal cliff” deal seems to be coming together. Speaker John Boehner’s latest offer doesn’t go quite far enough for the White House to agree, but it goes far enough that many think they can see the agreement taking shape. 

 

 

John Boehner (R) and Barack Obama (D)

 

Maybe On March 26, 2013,

But Not On March 1, 2013

A ‘fiscal cliff’ deal is near: Here are the details

 

All at once, a “fiscal cliff” deal seems to be coming together. Speaker John Boehner’s latest offer doesn’t go quite far enough for the White House to agree, but it goes far enough that many think they can see the agreement taking shape. 

 

Boehner offered to let tax rates rise for income over $1 million. The White House wanted to let tax rates rise for income over $250,000. The compromise will likely be somewhere in between. More revenue will come from limiting deductions, likely using some variant of the White House’s oft-proposed, oft-rejected idea for limiting itemized deductions to 28 percent. The total revenue raised by the two policies will likely be a bit north of $1 trillion. Congress will get instructions to use this new baseline to embark on tax reform next year. Importantly, if tax reform never happens, the revenue will already be locked in.

On the spending side, the Democrats’ headline concession will be accepting chained-CPI, which is to say, accepting a cut to Social Security benefits.

 

Beyond that, the negotiators will agree to targets for spending cuts. Expect the final number here, too, to be in the neighborhood of $1 trillion, but also expect it to lack many specifics. Whether the cuts come from Medicare or Medicaid, whether they include raising the Medicare age, and many of the other contentious issues in the talks will be left up to Congress.

 

The deal will lift the spending sequester, but it will be backed up by, yes, another sequester-like policy. I’m told that the details on this next sequester haven’t been worked out yet, but the governing theory is that it should be more reasonable than the current sequester. That is to say, if the two parties can’t agree on something better, then this should be a policy they’re willing to live with.

 

On stimulus, unemployment insurance will be extended, as will the refundable tax credits. Some amount of infrastructure spending is likely. Perversely, the payroll tax cut, one of the most stimulative policies in the fiscal cliff, will likely be allowed to lapse, which will deal a big blow to the economy. 

 

As for the debt ceiling, that will likely be lifted for a year, at least. In contrast to a week or so ago, when the White House was very intent on finishing the debt ceiling fight now, they’re sounding considerably less committed to securing a long-term increase in these negotiations. The argument winning converts, I’m told, is that since the White House won’t negotiate on the debt ceiling now and won’t negotiate on it later, there’s little reason to make it the sine qua non of a deal. 

 

As is always the case, the negotiations could fall apart, or the deal could change. But right now, the participants sound upbeat, surprised at how quickly the process has moved from evident disaster to near-agreement, and fairly comfortable with where they think they’ll end up.

 

 

 

FAREED ZAKARIA GPS

The Fiscal Cliff Deal; Flashpoints for 2013: What We Should Expect; Will This Be India’s Awakening?

Aired January 6, 2013 – 10:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


FAREED ZAKARIA, CNN HOST: This is GPS, the Global Public Square. Welcome to all of you in the United States and around the world. I’m Fareed Zakaria coming to you today from London. Happy New Year!

On today’s show, we’ll look ahead at what 2013 might bring around the world. I have a great panel. Richard Haass, Anne-Marie Slaughter and Ian Bremmer whom I will ask to gaze into their crystal balls.

Will Assad fall? Will Israel bomb Iran? Will the euro zone finally break apart?

Then, the fiscal cliff, the view from across the pond! How did our political process look from a perch overseas and what will it all mean for the U.S. economy and the global economy.

Also, will this be India’s awakening? The nation confronts its own dark corners after a despicable, deadly act. I’ll take a look at some parallels with America’s recent tragic school shooting.

But, first, here’s my take. The deal to avoid the “fiscal cliff” is a small victory for sanity, but what it says about the future is somewhat bleak.

Washington will lurch from crisis to crisis, kicking problems forward and placing Band-Aids, small solutions, on those that it does address. There will likely be no large-scale initiative on tax reform, entitlement reform, energy policy, probably even immigration reform. – Tabacco: “Tax Reform, Entitlements, Energy Policy, Immigration Reform!” Not a single reference to CUTTING MILITARY FUNDING! That’s the PROBLEM! Even Fareed Zakaria is compelled NOT to mention MILITARY FUNDING! Why? Because the MILITARY-INDUSTRIAL COMPLEX is too powerful for CNN, Zakaria or President Obama!

 

The Rules that apply to EVERYTHING ELSE do NOT APPLY TO MILITARY FUNDING! And these EXORBITANT EXPENDITURES for WARS FOR PROFIT – NOT NATIONAL SECURITY – are IGNORED by the Federal government when computing FEDERAL SPENDING & BUDGET!

 

The Problem is NOT ENTITLEMENTS – The Problem is

 

WARS FOR THE RICH,

THE CORPORATISTS,

THE WAR PROFITEERS

& DISASTER CAPITALISTS!

WAR FUNDING: THAT’S WHERE THE EXPENSE CUTTING SHOULD BEGIN!

 

But first, we have to MAKE Pundits & Politicians even TALK ABOUT IT! And once we FORCE them to even discuss these OPEC WARS, we must make them return to 2003 and JUSTIFY, ALL OVER AGAIN, THESE WARS WITHOUT THE LIES & UNPROVEN PREDICTIONS!

 

THE SILENCE IS

 

DEAFENING!


And this is the real worry because beyond the self-inflicted crises of the cliff and the forthcoming debt ceiling, the United States faces a much deeper challenge.

For more than a decade now, for many decades, by some measures, America’s growth rates have slowed, recoveries have been jobless and median wages have declined.

Some combination of the information revolution and globalization has placed tough pressures on high-wage countries like the United States. These new forces are accelerating, and without a strategy to revive growth, long-term growth, all of our problems get worse, including and especially our debt.

Washington’s focus so far has been on raising taxes and cutting spending. It should be on reforming and investing in the American economy.

TABACCO: For the US GROWTH RATES (or those of any other country) to continue in unrealistic percentages, unabated and uninterrupted on an infinite basis, is both impossible and ridiculous. That has NEVER HAPPENED! Capitalism FAILS every decade or so! Continuing to do the same thing and expect different results is what, folks?

 

INSANITY!


Historically, when the American government or the World Bank or the IMF advised countries that got into trouble, they usually stress that achieving fiscal stability, austerity, was only a part of the solution.

The key to reviving growth is structural reform to make the economy more competitive, as well as crucial investments in human and physical capital to ensure the next generation of growth. Yet we have not followed our own prescriptions.

The United States has plenty of areas where it could become much more competitive. It has a gargantuan and corrupt tax code that clocks in at 73,000 pages, including regulations. It has vast areas of the 3conomy, like agriculture, that receive massive and distorting subsidies for no larger national purpose.

If the case for reform is important, the case for investment is urgent. The big shift in the American economy over the last 30 years has been a decline in the quality of physical and human capital.

Take one example relating to our physical capital, infrastructure. It is estimated that it will cost $25 billion to upgrade America’s air traffic computers to the next gen system that would allow for much faster and safer air traffic.

By not making this investment, we are measurably slowing down economic activity and growth. Multiply this example by dozens and dozens and you get a sense of the scale of our infrastructure problem and deficit. Or consider the decline in human capital. We used to lead the world in young college graduates. We now rank 14th and dropping.

The federal government spends plenty of money, but the largest part of our budget now goes directly to entitlements; spending on present consumption, like entitlements, has large constituencies. Spending for the next generation of growth, investment has few supporters.

Recently, the Washington Post interviewed the Harvard scholar, Ezra Vogel, who famously predicted that Japan would become the world’s No. 1 economy in the 1980s.

Vogel explained that while Japan’s economic miracle was real, and its economy stayed very sophisticated, he never foresaw how its political system would seize up and become unable to solve the challenges it faced in the 1990s.

Today, Japan remains a rich country, but with a diminishing future. Its per capita gross domestic product is 24th in the world and falling. Its gross government debt-to-GDP stands at over 230 percent.

 

Tabacco: GDP is a FALSE INDICATOR because it includes NEGATIVES such as rebuilding after Natural or Man-made Disasters among other misleading items, which have NOTHING TO DO WITH ECONOMIC GROWTH!

 

See “GPI: GENUINE PROGRESS INDICATOR”

http://tabacco.t-a-b-a-c-c-o.org/?p=306

 

Yes, sometimes I MUST IMPUGN my own SOURCES, as I have done with Zakaria here thrice!


Let’s just hope that 20 years from now, people do not look back and say the American economy was vibrant, but the American political system seized up in a similar way. For more on this, take a look at my column in the Washington Post and my recent article in Foreign Affairs. For links to both, got to cnn.com/fareed.

http://transcripts.cnn.com/TRANSCRIPTS/1301/06/fzgps.01.html

 

TABACCO: AIG paid back its T.A.R.P. Loan with Interest – what happened to that money? Do you know? If you don’t, call your Senator and Congressman and ask them, “What happened to the T.A.R.P. Monies REPAID by AIG and others?


 


“Astroturfing” is a very effective and relevant practice of Right-Wing Groups these days, paid for by the Rich & Corporate. Rich Folks form a euphemistically appealing named Organization, apparently formed by ‘We The People’, who then rant and rave about some Rich Folk’s Pet Project that gives the Rest of Us the Impression that that particular Abomination has a groundswell of Popularity. This of course is the exact opposite of Truth – I think that is known as a LIE!

‘Campaign To Fix The Debt’ is just the latest manifestation of ‘ASTROTURFING’!      


PETERSONPYRAMID.ORG

FIX THE DEBT PORTAL:

The Campaign to Fix the Debt is the latest incarnation of a decades-long effort by former Nixon man turned Wall Street billionaire Pete Peterson to slash earned benefit programs such as Social Security and Medicare under the guise of fixing the nation’s “debt problem.” Through this special report — and in partnership with The Nation magazine — the Center for Media and Democracy exposes the funding, the leaders, the partner groups, and phony state “chapters” of this $60 million “astroturf supergroup,” whose goal is to achieve a grand bargain on austerity by July 4, 2013.[1]

 

Move over, David Koch and George Soros! Pete Peterson is “the most influential billionaire in America”, says the LA Times.

 

Peter G. Peterson has long used his wealth to underwrite numerous organizations and PR campaigns to generate public support for slashing Social Security and Medicare, citing concerns over “unsustainable” federal budget deficits. Full of apocalyptic warnings, Peterson failed to warn of the $8 trillion housing bubble, but conveniently sold his private equity firm Blackstone Group on the eve of the financial crisis. He later pledged to spend $1 billion of the money from the sale to “fix America’s key fiscal-sustainability problems,” launching the Peter G. Peterson Foundation in 2008.[2] As of 2011, the Huffington Post reported that Peterson had personally given $458 million to the Foundation.[3]

 

Peterson told the Washington Post that he gave Fix the Debt some $5 million in funding;[4] Fix the Debt was announced on the Peterson website[5] and Peterson appeared at the Fix the Debt launch in July 2012.[6] Peterson also funds Fix the Debt parent organization Committee for a Responsible Federal Budget at the New America Foundation. Even before the 2012 Campaign to Fix the Debt, Peterson poured millions into a multifaceted effort to support the Simpson-Bowles Commission and its $4 trillion austerity package, a plan that would cost the nation four million jobs, according to the Economic Policy Institute,[7] and “destroy Social Security as we know it,” according to Social Security Works.[8] He bankrolled nineteen “America Speaks” Town Hall meetings, which spectacularly backfired, launched the “OweNo” TV ad campaign, and funded the Concord Coalition’s Fiscal Solutions tour to take the message to the heartland. When the commission blew up — failing to get the votes needed to advance a plan to Congress — Peterson gave Bowles and Simpson a new perch at the Committee for a Responsible Federal Budget to allow them to continue to scold Congress. Learn more about Pete Peterson in “Peterson’s Long History of Deficit Scaremongering” in The Nation.

 

Key Findings & Useful Charts

 

Astroturf Supergroup

With 127 CEOs able to schedule meetings with President Obama and Congressional leaders, four PR firms,[9] 80 staff,[10] multiple Peterson funded “partner” groups, 23 phony state chapters, and a target budget of some $60 million,[11] this incarnation of the Peterson message machine must be taken seriously. Fix the Debt engaged in a multi-million dollar paid ad campaign in the run-up to the so-called “fiscal cliff” and now is taking that campaign outside the beltway, which is “increasingly resembling a presidential race with grassroots style organizing and offices in places like New Hampshire and Ohio,” writes Fortune magazine.[10] The group continues to boast of 345,000 petition signatures, which sounds impressive until you remember their goal was 10 million. Learn more about the firms and the stunts behind the PR spin in the article “Pete Peterson’s Puppet Populists” and the Fix the Debt Partners page.

 

Undisclosed Conflicts of Interest

Fix the Debt biographies fail to reveal that their core leadership team is riddled with conflicts of interest. Public Accountability Initiative (PAI) points to at least 13 steering committee members with financial ties to firms that lobby on deficit-related matters that are not disclosed in their glossy Fix the Debt bios. These firms lobby to preserve dozens of costly tax breaks (including the “carried interest” tax loophole that made Pete Peterson a rich man) or to hold off new taxes, such as the “Robin Hood Tax,” a proposed financial speculation tax that could raise as much as a $1 trillion over 10 years.[12] Click here to see a chart of these conflicts of interest and tax lobbying records.

 

Prominent CEOs Fail to Fully Fund Employee Pension Plans

While Fix the Debt’s 127 CEOs call for cuts to Social Security (a program that does not contribute to the deficit since it is has a surplus and is accounted for outside the federal budget), many of the publicly-traded Fix the Debt firms underfund their employee pension plans by some $103 billion making their employees even more dependent on Social Security.[13] The CEOs, of course, enjoy lavish retirement packages, averaging $9 million each, according to a study by the Institute for Policy Studies.[14] Click here to see a chart of CEO retirement assets vs. underfunded employee pensions (PDF).

 

The Real Corporate Tax Loophole Agenda

Many Fix the Debt firms pay a negative tax rate, which contributes greatly to the federal deficit. Worse, Fix the Debt firms are pushing for a “globally competitive” territorial tax system that would increase the debt by $1 trillion over ten years and encourage the offshoring of U.S. jobs, according to Citizens for Tax Justice. This tax cut is not listed in their online goals and rarely spoken of explicitly, but it is mentioned on a slideshow buried on the group’s website. The switch would not only add to the deficit, it results in a windfall of some $134 billion dollars for at least 63 Fix the Debt firms, including Google and GE, according to a report by the Institute for Policy Studies.[15] Click here to see a table of 10 top winners from a territorial tax system (PDF).

 

Many of the Firms Are Federal Defense Contractors

While Fix the Debt targets government programs for the middle class, 38 Fix the Debt leaders are tied to  companies with defense contracts totaling $43.4 billion in 2012, as PAI has documented.[16] Boeing (with $25.1 billion in defense contracts) and Northrop Grumman (with $8.5 billion) lead the pack. Boeing CEO W. James McNerney, Jr. is on Fix the Debt’s CEO Council, and Northrop Grumman board member Vic Fazio is on Fix the Debt’s steering committee. Click here to see a chart of the top six defense contractors with Fix the Debt ties (PDF).

 

Fix the Debt Leaders & Conflicts of Interest

Fix the Debt biographies consistently fail to expose the financial and lobbying ties of Fix the Debt leaders. You can see a chart of undisclosed financial interests by clicking here or visit our Fix the Debt Leaders page for more detail.

 

TABACCO’S ROGUES’ GALLERY I

It’s time these Vermin got the credit they deserve!


 

Erskine Bowles

Erskine Bowles, a Fix the Debt co-founder[17] and board member of Fix the Debt’s parent organization, the Peterson-funded CRFB,[18] is best known for his co-chairmanship of the Simpson-Bowles Commission and for being Bill Clinton’s chief of staff. Yet he has deep ties to the financial industry, which has lobbied heavily on tax issues.[19] UNDISCLOSED CONFLICT OF INTEREST: Bowles has served on the board of Morgan Stanley since 2005[20] (with annual compensation of $345,000 in 2011).[21][22] Morgan Stanley played a major role in the 2008 financial crisis and secretly borrowed over $107 billion from the Federal Reserve according to Bloomberg News.[23] His wife, Crandall C. Bowles, is on the executive committee of the board of directors of JP Morgan Chase[24] (with annual compensation of $245,000 in 2011).[25]

 

Ed Rendell

Ed Rendell is a co-chairman of Fix the Debt.[17] In media appearances, he is only introduced as the former Democratic governor of Pennsylvania (2003-2011), yet he has extensive corporate and financial ties. UNDISCLOSED CONFLICT OF INTEREST: Rendell lobbied for KCI USA, a wound care technology company, on Medicare and Medicaid reimbursements in 2012.[26] Rendell is special counsel to the law firm Ballard Spahr[27] — which has been criticized as a union-busting law firm–[28] — where he focuses on privatization and housing, with an emphasis on infrastructure.[29] Rendell is also a senior adviser at Greenhill & Co., a multinational investment bank. Ninety percent of Greenhill’s revenue comes from advisory assignments,[30] including to public officials. Rendell is a strong proponent of “public private partnerships” (PPPs) in infrastructure, which have been criticized as a dubious form of privatization of public assets.[31] Rendell is also on the advisory board of Verdeva, a firm developing technology to track motorists at the gas pump so they can be taxed for infrastructure revenue, an industry-favored measure for developing the income streams they need to finance infrastructure deals.[32] He has also joined the venture capital firm Element Partners as an operating partner.[33] Element Partners recently invested in oil and gas extraction (fracking) from the Marcellus formation.[34]

 

Maya MacGuineas

Maya MacGuineas spearheads the Fix the Debt campaign. She is the president of Fix the Debt’s parent organization, the Committee for a Responsible Federal Budget, which is a project of the Peterson-funded New America Foundation (NAF). MacGuineas was dubbed “queen of the deficit scolds” by economist Paul Krugman.[35] Although it is not disclosed on her Fix the Debt bio, she has long advocated for the privatization of Social Security (see 2001 testimony.)[36] UNDISCLOSED CONFLICT OF INTEREST: MacGuineas’ husband Robin Brooks is a managing director and a currency-trading analyst at Goldman Sachs.[37] Goldman Sachs lobbies around federal tax issues affecting banking and securities and is a member of the Managed Funds Association, which lobbies against efforts to make Wall Street pay its fair share such as the proposed “Robin Hood Tax,” a tiny tax on trades that some economists project could raise $1 trillion over 10 years.[38][39]

 

Peterson-Funded Fix the Debt Partner Groups

Pete Peterson has given at least $5 million to Fix the Debt, according to the Washington Post.[40] Fix the Debt is listed as a project of the Committee for a Responsible Federal Budget (CRFB) on CRFB’s website. Peterson has long funded CRFB and served on its board.[41] CRFB is itself a project of the New America Foundation (NAF). In the 1990s, CRFB partnered with tobacco firms, anxious to avoid higher excise taxes on cigarettes, to tank the Clinton health care plan.[42] Today, critics claim CRFB is a “Trojan Horse” for a similar agenda to cut taxes for wealthy corporations who want to create a territorial tax system.[43]

 

The Peter G. Peterson Foundation funds at least six of the “partner” organizations listed on Fix the Debt’s website:

 

With regard to Fix the Debt and its many partner organizations, the National Journal observed: “Singlehandedly, Peterson has created a loose network of deficit hawk organizations that seem independent but that all spout the Peterson-sanctioned message of a ‘grand bargain.’”[48]

 

Fix the Debt Phony State Chapters & Lobbyist Leaders

“Up to this point, Fix the Debt’s ad campaigns have been largely Washington-focused, combined with a heavy dose of CEO-lobbying. The next phase, Romano says, is national outreach,” Fortune Magazine reported in January 2013.[49] Fix the Debt has 23 “state chapters” listed on its website as of February 2013.[50] Those state chapters have been created following a similar formula: “Select bipartisan co-chairs along with a passel of business leaders, write a press release, hold a teleconference et voilà!: a ‘chapter’ is born that looks like an organic, bipartisan effort.”[51]

 

More than 90 Fix the Debt leaders at the state level are current or former lobbyists, and many lobby for Fix the Debt firms, according to a review of federal and state lobbying databases by the Center for Media and Democracy in February 2013. Click here to see a list of state leaders and their lobbying ties.

 

Featured Articles

Press on Fix the Debt

 

The Pyramid Scheme

    


Join the Conversation


FixtheDebt White House details impact of #sequester cuts on states washingtonpost.com/business/white…. Our #sequestration report card fixthedebt.org/uploads/files/… yesterday · reply · retweet · favorite

nicolesandler Today’s Podcast: FixTheDebt BS, “Fools on the Hill, and The Oscars! RadioOrNot.com p.odca.st/5432511 yesterday · reply · retweet · favorite

fenbranklin #fixthedebt you mean *debt projections*, right? These are simulations, people. alternet.org/guess-what-deb… yesterday · reply · retweet · favorite

Gaius_Publius Be sure to sign @credomobile petition on Ed Rendell, #FixTheDebt & @msnbc : Transparency please! bit.ly/13GufLk yesterday · reply · retweet · favorite

prwatch Ed Rendell takes heat from @credomobile for FixtheDebt ties and conflicts of interest bit.ly/13GufLk #FixtheDebtExposed yesterday · reply · retweet · favorite

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Wall Street Welcomes Fix the Debt

Fix the Debt leader Maya MacGuineas, Honeywell CEO David Cote, financier Steven Rattner (who was banned from the securities industry for his involvement in a pension-fund kickback scheme) and other CEOs ring the bell on the New York Stock Exchange.

The Can Kicks Back

The Can Kicks Back — with its foam “AmeriCAN” character — is one of many efforts to convince the public that young people care more about the national debt than their own. Fix the Debt leaders talk about the group as if it “popped up” out of nowhere, but it apparently popped up in the Fix the Debt offices, where it shares space with Maya MacGuineas’ Committee for a Responsible Federal Budget.[52]

Fix the Debt Firms: Unpaid Taxes and Underfunded Pensions

Fix the Debt CEOs say they are worried about the debt and deficits, yet many Fix the Debt firms pay a negative tax rate or a tax rate well below the standard 35 percent — adding greatly to our nation’s deficit.  Fix the Debt CEOs say that what is needed to balance the books is cuts to earned benefit programs like Social Security (which is a separate federal program not counted in  the federal budget at all). At the same time, many of these same CEOs under-fund their employee pension plans, making it likely that their workers will be even more dependent on Social Security.  This hypocrisy has led to a campaign called “Flip the Debt,” which calls upon major corporations to pay their fair share of taxes.

 

TABACCO’S ROGUES’ GALLERY II

 

  • Honeywell
    • CEO David Cote, compensation: $37,842,723[53]
    • David Cote’s retirement assets: $78,084,717[54]
    • Honeywell’s average effective tax rate (2008-2010): -0.7%[55]
    • Underfunded employee pension: -$2,764,000,000[54]

 

  • General Electric
    • CEO Jeffrey Immelt, compensation: $21,581,228[56]
    • Jeffrey Immelt’s retirement assets: $53,301,387[54]
    • GE’s average effective tax rate (2008-2010): -45.3%[55]
    • Underfunded employee pension: -$21,756,000,000[54]

 

  • Verizon
    • CEO Lowell McAdam, compensation: $23,120,499[57]
    • Lowell McAdam’s retirement assets: $8,725,445[54]
    • Verizon’s average effective tax rate (2008-2010): -2.9%[55]
    • Underfunded employee pension: -$6,472,000,000[54]

 

  • Boeing
    • CEO W. James McNerney, Jr., compensation: $22,958,313[58]
    • W. James McNerney, Jr.’s retirement assets: $39,089,893[54]
    • Boeing’s average effective tax rate (2008-2010): -1.8%[55]
    • Underfunded employee pension: -$16,598,000,000[54]




  • Corning
    • CEO Wendell Weeks, compensation: $10,333,531[59]
    • Wendell Weeks’ retirement assets: $21,229,195[54]
    • Corning’s average effective tax rate (2008-2010): -0.2%[55]
    • Underfunded employee pension: -$454,000,000[54]

 

  • Merck
    • CEO Kenneth Frazier, compensation: $13,347,652[60]
    • Kenneth Frazier’s retirement assets: $14,428,904[54] 
    • Merck’s average effective tax rate (2008-2010): 11.5%[55]
    • Underfunded employee pension: -$1,935,000,000[54]

This is the 21st century – there has to be an “Obligatory negro” in every group today!

 

  • Delta Air Lines
    • CEO Richard Anderson, compensation: $8,854,554[61]
    • Underfunded employee pension: -$11,504,000,000[54]




  • Aetna
    • CEO Mark Bertolini, compensation: $10,556,335[62]
    • Mark Bertolini’s retirement assets: $1,499,282[54]
    • Underfunded employee pension: -$833,500,000[54]


THE SEQUESTER

 

That’s the Deal made by 4 Democrats & 4 Republicans in Congress (known as the “Gang of 8”) that was so Machiavellian that nobody really wanted it so that everybody would be sensible and Compromise a “New Deal” to avoid the Sequester!

 

 

GANG OF 8

 

DEMOCANS

Democratic Whip Richard J. Durbin, D-Il.

 

Budget Committee Chair Kent Conrad, D-N.D.

 

Sen. Michael F. Bennet, D-Colo.

 

Sen. Mark R. Warner, D-Va.

 

REPUBLICRATS

Finance Committee member Tom Coburn,

R-Okla.

 

Finance member Mike Crapo, R-Idaho

 

Sen. Saxby Chambliss, R-Ga.

 

Sen. Mike Johanns, R-Neb.

 

 

But Democrats forgot that we are dealing with Republicans, who – like that woman in the Bible – was willing to “cut up the baby” and take half, rather than let the other woman (the true mother) get the whole baby.

 

The Sequester has been delayed once from January 1, 2013, to March 1, 2013. If no “New Deal” is reached by February 28, 2013, below is what we can expect come March 1, 2013.

 

And Republican Speaker of the House, John Boehner, sent the House on a week’s vacation near the end of February. One House GOPer was heard to say “This is NOT a vacation; we will be meeting with our Constituents to hear how they feel about what we are doing”. What they are NOT doing is reaching a SOLUTION!

 

 

The Sequester Forced Spending Cuts

 

$1.2 trillion over 10 years

$85 billion in 2013

13% to Military@

9% to other programs (everything else included)#

      

@ They call it “Defense Cuts” but we know better – not all Military Spending is for “Defense”; most of it is for War Profiteers, Theft of Muslim Oil Reserves & Paying Muslim Groups not to kill American soldiers.

 

#Other Programs:

 

Education: More than 14,000 teachers and staff lay offs. 70,000 students deprived of ‘Head Start’.

 

Criminal Justice: All FBI workers furloughed for up to 14 days (without pay). Border Patrol and anyone in Law Enforcement on Federal level would face Big Cuts.

 

National Parks: Reduction in hours and services.

 

Travel: Increased wait times, longer lines, slower Security Checks at airports (as if they weren’t slow enough already).

 

———————————————————————

 

Note: AID to Israel is “Off The Cutting Table”

 

Not This Year Or Relatively Safe For The Present:

 

Medicare & Social Security largely untouched.

 

Safety Net Programs: Medicaid, Food Stamps.

 

Military Personnel & Veterans’ Affairs

Analysis Source: CNN Newsroom February 22, 2013, transcribed by Tabacco

 

 


Tabacco: Why are these two, Boehner & Obama, so chummy!

 

Here’s that Image once again! When Democrats agree on anything with Republicans,

 

be very SUSPICIOUS!

 

Have you ever seen a Republicrat and a Democan look so lovey-dovey? They’re playing a game of “Cat & Mouse” (guess who the mouse is!) or “Dog & Pony Show” or “Good Cop – Bad Cop”.

 

So long as Rich Fat Cats get what they want and neither Democans nor Republicrats gain Voter Popularity “Advantage”, this “Show” continues for Voters’ Benefit and to serve the “Powers That Be”! Don’t believe me? Look at the Markets and see how well they are doing now – the Markets don’t buy into “Sequester”, and neither should you! The “Deal” has already been consummated – and it DOES NOT FAVOR YOU – TRUST ME! COMPROMISE NEVER DOES!

 

All that’s left to do is apply the PLACEBO to the Voters, Democrats & Republicans. That’s what “Dog & Pony” is all about!


Tabacco: I consider myself both a funnel and a filter. I funnel information, not readily available on the Mass Media, which is ignored and/or suppressed. I filter out the irrelevancies and trivialities to save both the time and effort of my Readers and bring consternation to the enemies of Truth & Fairness! When you read Tabacco, if you don’t learn something NEW, I’ve wasted your time.

 

Tabacco is not a blogger, who thinks; I am a Thinker, who blogs. Speaking Truth to Power!

 

In 1981′s ‘Body Heat’, Kathleen Turner said, “Knowledge is power”.


T.A.B.A.C.C.O.  (Truth About Business And Congressional Crimes Organization) – Think Tank For Other 95% Of World: WTP = We The People

 

 

www.wyandanch.t-a-b-a-c-c-o.org

Subdomain re Exploited Minority Long Island community

 


T1622\3539

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One Response to ‘FISCAL CLIFF & SEQUESTRATION’! But First, What Is The Terminology For A President Negotiating With Himself? ANSWER: POLITICAL MASTURBATION! Obama Keeps Raising His “Rich Folk Minimum” While GOP Remains Mum! That’s Not Compromise; That’s Capitulation Inch-By-Inch! Obama Did That In ObamaCare “Negotiations” – He Masturbated While GOP Practiced “Speak No Evil”. December 31st Became March 1, 2013! Unless Democrats “Capitulate” Again, The Earlier “Deal” (DEBT CEILING DEADLINE) Will Go Into Effect 3/1/13. “FISCAL CLIFF” And “SEQUESTER” – “In The Beginning”, MSM Spoke In Tongues Re “Fiscal Cliff” & “Sequestration”! Why Do YOU Permit The MSM Get Away With This Esperanto Doubletalk? Sorry, Folks, But The Real Enemy Sits In The Oval Office At 1600 Pennsylvania Avenue! OBAMA Aims To SLASH ENTITLEMENTS – LAST MINUTE DEALS Favor Corporate Wealthy! So We Can All Say, “Phew, We Dodged A Bullet, Didn’t We!” And Obama Is Using GOP Opposition To Achieve This End Under The Guise Of COMPROMISE = OBAMANATION! – Re Social Security Cuts, Dennis Kucinich, “NO TO A CATFOOD CHRISTMAS!” Next Key Date: March 27, 2013!

  1. admin says:

    REITERATION!

    Most people would like to believe that either the Democrats or the Republicans care about their concerns, problems and interests. Unfortunately, for most of us neither Party cares a hoot! They speak glowingly of America, the Public and their own efforts in behalf of both. But the Truth is that Most Politicians in elected office or waiting in the wings care more about their own careers than they do about us. And they care more about Rich People’s Money and Corporate Support than they do about your $5 or $10 or even $50!

    If you are a poor or Middleclass Republican, you may join the PRC through this blog. I started the PRC (Poor Republicans’ Club) for those who vote Republican but have no money to speak of – you know who you are!

    The Opposite of Good is Bad. But the Opposite of Democrat is NOT Republican. And the Opposite of Republican is NOT Democrat. That’s just the “GAME” they play to Justify our 2-Party Political System. They only differ on SOCIAL ISSUES, NOT ECONOMIC OF FINANCIAL ISSUES! Voters flip-flop between these 2 in a fruitless endeavor I call “Political Ping-Pong”!

    Democans & Republicrats prevent any other Party from gaining a foothold. No other Party is allowed to participate in those Debates, regardless of any 3rd Party candidate’s popularity. Name 1, other than Ross Perot! Go ahead, I dare you. Yes, George Wallace got votes, but he didn’t participate in any Debates.

    America’s 2-Party System is a SHAM! You need to stop drinking the Kool Aid and realize that Europe is NOT a separate continent (there are only 6), and America has in fact a 1-Party Political System (except for Social Issues that is). Why do you think I refer to them as Republicrats and Democans!

    Tabacco

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