Saturday, November 13, 2010
New Leadership, new ideas?
Congratulations to the Republican Party. They have regained the House of Representatives majority and will receive the benefits including Committee Chairmenships and Majority Leader ( who is third behind the President) and a whole set of things they want to change/repeal. Almost immediately, they are going after allowing the tax cut on those over $250,000 to be extended and it appears that Mr.Obama is going to go along, as long as no one else has taxes applied. This will be a reprieve for the very wealthy as their tax cut was running out December 31, 2010, as it is predicted, it may be extended 2 or 3 years. No politican wants to raise taxes in this economy, immigration is going on the backburner, a possible trade war is brewing world-wide, currency changes in America and China are also possibilities, cuts to the budget are being directed at sacred cows--a sacred cow is an untouchable item in the budget. An example, defense budget is usually never touched,however, there is discussion about a possible 30% cut, pulling troops out of countries, an example would be pulling troops out of Japan, South Korea, and Europe, think of the possible savings. But, social security benefits are not going to be touched, in fact, there is talk of a $250 across the board, one-time check in January. Why won't they touch the biggest "sacred cow", social security? Social security benefits for the most part, go to elderly people. They are the people who study the elections and VOTE more than any other group. I hope I have whetted your appetite for items to investigate in Congess. This when you start studying for the 2012 election. The stakes will be bigger. The President will be re-elected/elected, all House of Represenatives, and 1/3 rd of the Senate. Depending what the Democrats do, or the Republican do, that election may set the tone for the next four years.