Category : President Barack Obama

(LA Times Editorial) What about the U.S. debt?

In place of those cuts, the president offered a mixture of real steps to reduce the deficit ”” including nearly $2 trillion in additional taxes over the coming decade, mainly at the expense of high-income Americans ”” and bogus ones, such as almost $850 billion in “savings” from the previously planned end of foreign combat operations, a chunk of which would be spent on infrastructure and jobs programs. The one bright spot: Obama didn’t ignore the rapid and unsustainable growth in healthcare entitlements, as he did in last year’s budget. Instead, he called for saving about $360 billion over 10 years on those programs, in part by paying drug companies less for medicines prescribed to low-income Medicare patients.

There’s little chance this Congress will agree to many, or even any, of those suggestions. Tax increases seem particularly unlikely. But even if lawmakers were to adopt all of Obama’s deficit-cutting measures, they wouldn’t go far enough to set the budget on a path toward balance.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, Budget, Credit Markets, Currency Markets, Economy, History, House of Representatives, Medicare, Office of the President, Politics in General, President Barack Obama, Senate, Social Security, Taxes, The National Deficit, The U.S. Government

(First Things) George Weigel–HHS and the Soft on Religion and Religious Freedom

The HHS regulations announced on January 20 are one domestic expression of defining-religious-freedom-down. The administration does not propose to, say, restore the 1970 ICEL translations of the prayer-texts of the Mass; that, even HHS might concede, is a violation of religious freedom. But the administration did not think it a violation of religious freedom for its Equal Employment Opportunity Commission to try and overturn the longstanding legal understanding which held that religious institutions have a secure First Amendment right to choose their ministers by their own criteria””until it was told that it had gone way over the line in January’s Hosanna-Tabor Supreme Court decision (a judicial smackdown in which the administration’s own Court nominees joined).

Now, with the HHS “contraceptive mandate” (which, as noted above, is also a sterilization and abortifacent “mandate”), the administration claims that it is not violating the First Amendment by requiring Catholic institutions to provide “services” that the Catholic Church believes are objectively evil. That bizarre claim may well be another constitutional bridge too far. But the very fact that the administration issued these regulations, and that the White House press secretary blithely dismissed any First Amendment concerns when asked whether there were religious freedom issues involved here, tell us something very important, and very disturbing, about the cast of mind in the Executive Branch.

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Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, --The 2009 American Health Care Reform Debate, Children, Health & Medicine, Law & Legal Issues, Life Ethics, Marriage & Family, Office of the President, Other Churches, Politics in General, President Barack Obama, Religion & Culture, Roman Catholic, Science & Technology

(CNS) Obama's revised HHS mandate won't solve problems, USCCB president says

“We bishops are pastors, we’re not politicians, and you can’t compromise on principle,” said Cardinal-designate [Timothy] Dolan, president of the U.S. Conference of Catholic Bishops. “And the goal posts haven’t moved and I don’t think there’s a 50-yard line compromise here,” he added.

“We’re in the business of reconciliation, so it’s not that we hold fast, that we’re stubborn ideologues, no. But we don’t see much sign of any compromise,” he said.

“What (Obama) offered was next to nothing. There’s no change, for instance, in these terribly restrictive mandates and this grossly restrictive definition of what constitutes a religious entity,” he said. “The principle wasn’t touched at all.”

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Posted in * Culture-Watch, * Economics, Politics, --The 2009 American Health Care Reform Debate, Children, Health & Medicine, Law & Legal Issues, Life Ethics, Marriage & Family, Office of the President, Politics in General, President Barack Obama, Religion & Culture, Science & Technology

(AP) Obama's budget: Government still getting bigger

Taking a pass on reining in government growth, President Obama unveiled a record $3.8 trillion election-year budget plan Monday, calling for stimulus-style spending on roads and schools and tax hikes on the wealthy to help pay the costs. The ideas landed with a thud on Capitol Hill.

Though the Pentagon and a number of Cabinet agencies would get squeezed, Obama would leave the spiraling growth of health care programs for the elderly and the poor largely unchecked. The plan claims $4 trillion in deficit savings over the coming decade, but most of it would be through tax increases Republicans oppose, lower war costs already in motion and budget cuts enacted last year in a debt pact with GOP lawmakers.

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Posted in * Economics, Politics, Budget, Economy, Ethics / Moral Theology, Office of the President, Politics in General, President Barack Obama, The National Deficit, The U.S. Government, Theology

(Washington Post) E.J. Dionne–Contraception and the Cost of the Culture Wars

Politicized culture wars are debilitating because they almost always require partisans to denigrate the moral legitimacy of their opponents, and sometimes to deny their very humanity. It’s often not enough to defeat a foe. Satisfaction only comes from an adversary’s humiliation.

One other thing about culture wars: One side typically has absolutely no understanding of what the other is trying to say.

That is why the battle over whether religious institutions should be required to cover contraception under the new health care law was so painful — and why it was so hard to comprehend why President Obama, who has been a critic of culture wars for so long, did not try to defuse this explosive question from the beginning.

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Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, --The 2009 American Health Care Reform Debate, Children, Health & Medicine, Law & Legal Issues, Life Ethics, Marriage & Family, Office of the President, Other Churches, Politics in General, President Barack Obama, Religion & Culture, Roman Catholic, Science & Technology

The RCRC Press Release Supporting "White House on Contraceptive Coverage In Health Care Reform"

Together, the leaders of these Christian, Jewish and Muslim national organizations affirmed:

“We stand with President Obama and Secretary Sebelius in their decision to reaffirm the importance of contraceptive services as essential preventive care for women under the Patient Protection and Affordable Care Act, and to assure access under the law to American women, regardless of religious affiliation. We respect individuals’ moral agency to make decisions about their sexuality and reproductive health without governmental interference or legal restrictions. We do not believe that specific religious doctrine belongs in health care reform ”“ as we value our nation’s commitment to church-state separation. We believe that women and men have the right to decide whether or not to apply the principles of their faith to family planning decisions, and to do so they must have access to services. The Administration was correct in requiring institutions that do not have purely sectarian goals to offer comprehensive preventive health care. Our leaders have the responsibility to safeguard individual religious liberty and to help improve the health of women, their children, and families. Hospitals and universities across are respected and that their students and employees have access to this basic health care service. We invite other religious leaders to speak out with us for universal coverage of contraception.

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Posted in * Anglican - Episcopal, * Culture-Watch, * Economics, Politics, * Religion News & Commentary, --The 2009 American Health Care Reform Debate, Children, Episcopal Church (TEC), Health & Medicine, Law & Legal Issues, Life Ethics, Marriage & Family, Methodist, Office of the President, Other Churches, Politics in General, Presbyterian, President Barack Obama, Religion & Culture, Roman Catholic, Science & Technology, United Church of Christ

(CSM) As birth control flap goes on, who benefits most? Santorum? Obama?

The controversy over President Obama’s order on contraception and religious institutions is not going away as a political issue.

The two sides seem to be hardening their positions. The divide between many American Catholics and their bishops remains. And it’s raising questions over who benefits most in the run-up to the presidential election….

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Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, Ethics / Moral Theology, Health & Medicine, Life Ethics, Office of the President, Other Churches, Politics in General, President Barack Obama, Religion & Culture, Roman Catholic, Theology

(WSJ) Obama Retreats on Contraception

Some Catholics expressed relief but others were unmoved after President Barack Obama on Friday loosened a requirement that religious employers cover contraception in health plans, an issue that had turned into a political firestorm in recent weeks.

Under the new policy, religious employers opposed to most forms of birth control wouldn’t be required to directly pay for such coverage in their workers’ insurance policies. Instead, insurance companies would be required to offer contraception without explicitly charging either the religious employer or worker. That shift means the cost of providing the coverage to religious employers is likely to be spread across all policyholders by insurers.

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Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, Children, Ethics / Moral Theology, Law & Legal Issues, Life Ethics, Marriage & Family, Office of the President, Other Churches, Politics in General, President Barack Obama, Religion & Culture, Roman Catholic, Science & Technology, Theology

(Reuters) Health insurers question Obama birth control plan

U.S. health insurers said on Friday they feared President Barack Obama had set a new precedent by making them responsible for providing free birth control to employees of religious groups as he sought to defuse an election-year landmine….

“We are concerned about the precedent this proposed rule would set,” said Robert Zirkelbach, spokesman for America’s Health Insurance Plans, the industry’s trade group. “As we learn more about how this rule would be operationalized, we will provide comments through the regulatory process.”

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Posted in * Culture-Watch, * Economics, Politics, --The 2009 American Health Care Reform Debate, Corporations/Corporate Life, Economy, Health & Medicine, Law & Legal Issues, Office of the President, Politics in General, President Barack Obama, Religion & Culture

The United States Conference of Catholic Bishops Statement in response to the White House Proposal

From here:

The United States Conference of Catholic Bishops (USCCB) sees initial opportunities in preserving the principle of religious freedom after President Obama’s announcement today. But the Conference continues to express concerns. “While there may be an openness to respond to some of our concerns, we reserve judgment on the details until we have them,” said Cardinal-designate Timothy Dolan, president of USCCB.

“The past three weeks have witnessed a remarkable unity of Americans from all religions or none at all worried about the erosion of religious freedom and governmental intrusion into issues of faith and morals,” he said.

“Today’s decision to revise how individuals obtain services that are morally objectionable to religious entities and people of faith is a first step in the right direction,” Cardinal-designate Dolan said. “We hope to work with the Administration to guarantee that Americans’ consciences and our religious freedom are not harmed by these regulations.”

Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, --The 2009 American Health Care Reform Debate, Ethics / Moral Theology, Health & Medicine, Law & Legal Issues, Life Ethics, Marriage & Family, Office of the President, Other Churches, Politics in General, President Barack Obama, Religion & Culture, Roman Catholic, Science & Technology, Theology

(AFP) President Obama tries to forge a compromise birth control plan

US President Barack Obama Friday announced a compromise to defuse a row over access to birth control which prompted election-year Republican critics to claim he was waging a war on religion.
In a concession, Obama said his government would no longer require religious organizations to offer free contraception on employee health plans and decried opponents he said had turned the issue into a “political football.”
But he stuck by the principle that all women should have free access to such services, putting the onus on insurance firms to offer birth control to those working for religious employers like Catholic hospitals.

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Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, --The 2009 American Health Care Reform Debate, Ethics / Moral Theology, Health & Medicine, Law & Legal Issues, Life Ethics, Office of the President, Other Churches, Politics in General, President Barack Obama, Religion & Culture, Roman Catholic, Science & Technology, Theology

(WSJ) Wuerl, Colson and Soloveichik: United We Stand for Religious Freedom

Coverage of this story has almost invariably been framed as a conflict between the federal government and the Catholic bishops. Zeroing in on the word “contraception,” many commentators have taken delight in pointing to surveys about the use of contraceptives among Catholics, the message being that any infringement of religious freedom involves an idiosyncratic position that doesn’t affect that many people.

Nothing could be further from the truth. The Catholic Church’s teaching on contraception (not to mention abortion and surgical sterilization) has been clear, consistent and public. HHS Secretary Kathleen Sebelius’s decision would force Catholic institutions either to violate the moral teachings of the Catholic Church or abandon the health-care, education and social services they provide the needy. This is intolerable.

And while most evangelicals take a more permissive view of contraception, they share with Catholics the moral conviction that the taking of human life in utero, whether surgically or by abortifacient drugs, violates the basic human right to life.

Read it all (it has different authorship and is in a different publication than the one post earlier today).

Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, --The 2009 American Health Care Reform Debate, Children, Ethics / Moral Theology, Evangelicals, Health & Medicine, Judaism, Law & Legal Issues, Life Ethics, Marriage & Family, Office of the President, Other Churches, Other Faiths, Politics in General, President Barack Obama, Religion & Culture, Roman Catholic, Theology

(SHNS) Terry Mattingly–Contraceptives-coverage letter reopens chaplain debate

[Archbishop Timothy Broglio] wrote in a letter that “The federal government, which claims to be ‘of, by and for the people,’ has just dealt a heavy blow to almost a quarter of those people — the Catholic population — and to the millions more who are served by the Catholic faithful. It is a blow to a freedom that you have fought to defend and for which you have seen your buddies fall in battle.”

However, it was another passage that seems to have triggered alarms at the Army office of the Chief of Chaplains.

“We cannot — we will not — comply with this unjust law,” stressed Broglio. “People of faith cannot be made second-class citizens. … In generations past, the Church has always been able to count on the faithful to stand up and protect her sacred rights and duties. I hope and trust she can count on this generation of Catholics to do the same.”

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Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, --The 2009 American Health Care Reform Debate, Church/State Matters, Defense, National Security, Military, Health & Medicine, Law & Legal Issues, Office of the President, Other Churches, Other Faiths, Politics in General, President Barack Obama, Religion & Culture, Roman Catholic

Fascinating Politico Inside Story on the Birth Control Mandate/Health Care Bill Miscalculation

On Jan. 20 ”” after a protracted internal debate over the policy’s implications and lobbying from allies in the reproductive-rights community ”” Obama approved the mandate, to the horror of the conservative Dolan and even to more liberal Catholic allies such as Washington Post columnist E.J. Dionne.

From the standpoint of the 2012 campaign, the debate over birth control, the stuff of the 1960s, has opened a dangerous electoral schism for Democrats, pitting Obama’s base of female supporters against the church and a GOP presidential field all too eager to seize on a perceived assault on religious liberty.

But it has also exposed surprisingly acute ideological, religious and gender divisions within a White House that prides itself on pulling together as a cohesive unit after a major decision, however sloppy the deliberation. And the fissures may have contributed to the slow, seemingly disorganized response to the escalating attacks, amplifying the damage from a fight that would have been politically perilous in any case.

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Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, --The 2009 American Health Care Reform Debate, Children, Health & Medicine, Law & Legal Issues, Life Ethics, Marriage & Family, Office of the President, Other Churches, Politics in General, President Barack Obama, Religion & Culture, Roman Catholic, Science & Technology

Timothy George and Chuck Colson–A letter to evangelical Christians on Obama's Contraceptive Mandate

We evangelicals must stand unequivocally with our Roman Catholic brothers and sisters. Because when the government violates the religious liberty of one group, it threatens the religious liberty of all.
Many bishops have already declared that they will not obey this unjust law. The penalty for such a move would be severe. Catholic hospitals, universities, and other organizations would be forced to pay punitive fines ($2,000 per employee) for refusing to purchase insurance that violates the teaching of their church.
For some institutions, it would spell the end of their existence””and their far-reaching service to the public and the needy.

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Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, --The 2009 American Health Care Reform Debate, Evangelicals, Health & Medicine, Law & Legal Issues, Office of the President, Other Churches, Politics in General, President Barack Obama, Religion & Culture, Roman Catholic

(NY Times) New Mortgage Plan Gives Homeowners Bulk of the Benefits

After months of painstaking talks, government authorities and five of the nation’s biggest banks have agreed to a $26 billion settlement that could provide relief to nearly two million current and former American homeowners harmed by the bursting of the housing bubble, state and federal officials said in Washington on Thursday.

It is part of a broad national settlement aimed at halting the housing market’s downward slide and holding the banks accountable for foreclosure abuses.

Under the plan, federal officials said, about $5 billion would be cash payments to states and federal authorities, $17 billion would be earmarked for homeowner relief, roughly $3 billion would go for refinancing and a final $1 billion would be paid to the Federal Housing Administration.

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Posted in * Economics, Politics, Economy, Ethics / Moral Theology, Housing/Real Estate Market, Office of the President, Personal Finance, Politics in General, President Barack Obama, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, The U.S. Government, Theology

(Washington Post) White House seeks to soothe concerns over contraception rule

The administration’s response Tuesday came on two tracks ”” with officials telling liberal groups and lawmakers that they were not backing down, while trying to assure religious groups that a phase-in period will allow the two sides to agree on an approach to putting the rule into practice.

“There are conversations right now to arrange a meeting to talk with folks about how this policy can be nuanced,” said Joel C. Hunter, a Florida megachurch pastor who has grown personally close to Obama and advised his White House on religious issues. “This is so fixable, and we just want to get into the conversation.”

White House press secretary Jay Carney said Obama is taking the objections of the Catholic leaders “seriously” and will seek to implement the policy in a way that “allays some of those concerns.”

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Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, --The 2009 American Health Care Reform Debate, Ethics / Moral Theology, Health & Medicine, Life Ethics, Office of the President, Other Churches, Politics in General, President Barack Obama, Religion & Culture, Roman Catholic, Theology

(World) Eric Metaxas Goes After ”˜phony religiosity’ at the annual National Prayer Breakfast

Speakers at the annual National Prayer Breakfast in the nation’s capital usually keep their talks diplomatic. After all, the room is filled with ambassadors, lawmakers from both parties, Cabinet members, and people of various faiths from around the world.

But Eric Metaxas, the featured speaker Thursday morning and the author of biographies on Dietrich Bonhoeffer and William Wilberforce, talked to an audience of 4,000 important people about false religion, human depravity, poverty, slavery, and abortion. But the New York author delivered his sharp commentary with his trademark wit, which kept the audience roaring with laughter. [There is a link provided for video of the event]

The halls of the Washington Hilton, the hotel that hosts the breakfast, were buzzing afterward as people discussed the speech””Metaxas’ speech, not President Obama’s, which followed. Outside the hotel, a protestor asked, “Is it true what I’m hearing, that Eric Metaxas talked about Jesus?”

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Posted in * Christian Life / Church Life, * Culture-Watch, * Economics, Politics, * International News & Commentary, Church History, Europe, Germany, House of Representatives, Life Ethics, Office of the President, Politics in General, President Barack Obama, Religion & Culture, Senate, Spirituality/Prayer

(LA Times Editorial) America's drone wars

President Obama’s public acknowledgment of the CIA’s secret drone campaign in Pakistan puts new pressure on the administration to defend the policy openly. That’s a welcome development. The president should now be equally forthcoming about the rationale for the targeted killings of American citizens.

In an interview conducted by Google and YouTube on Monday, Obama defended the use of drones as “judicious” and added that “obviously a lot of these strikes have been in the FATA,” Pakistan’s federally administered tribal areas. An administration official told CNN that the president’s remarks about the secret program were not a “slip-up.” Nevertheless, on Tuesday, White House Press Secretary Jay Carney refused to discuss the drone program, withholding comment on “supposed covert programs.”

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Posted in * Culture-Watch, * Economics, Politics, Defense, National Security, Military, Ethics / Moral Theology, Foreign Relations, Law & Legal Issues, Office of the President, Politics in General, President Barack Obama, Science & Technology, Theology

(Washington Post) Long-term factors Weigh on Middle Class

While he has addressed the issue throughout his presidency, [President] Obama began late last year to shower even more attention on the importance of lifting middle-class wages. In the days after his address to Congress, he traveled the country to make arguments in favor of new investments in manufacturing, energy and college affordability.

But it is not clear that the measures ”” or any others ”” could compensate for the factors behind the decline of the middle class, including the rise of nations with abundant cheap labor and the development of new technologies that allow companies to operate with far fewer workers. Nor is it clear that the bruised American economy of 2012, with a growing population of retiring workers to support, can sustain a prospering middle class.

“There has been an avalanche of developments that have played out in the last 30 years or so that make it a huge challenge to think about real increases in wages and therefore a sustained rise in incomes,” said Lane Kenworthy, a sociologist at the University of Arizona. “I think, in truth, a lot of people are at a loss for what exactly can be done.”

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Posted in * Culture-Watch, * Economics, Politics, Corporations/Corporate Life, Economy, History, House of Representatives, Labor/Labor Unions/Labor Market, Office of the President, Personal Finance, Politics in General, President Barack Obama, Senate, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

(Archbishop Timothy Dolan) ObamaCare and Religious Freedom

Scarcely two weeks ago, in its Hosanna-Tabor decision upholding the right of churches to make ministerial hiring decisions, the Supreme Court unanimously and enthusiastically reaffirmed these longstanding and foundational principles of religious freedom. The court made clear that they include the right of religious institutions to control their internal affairs.

Yet the Obama administration has veered in the opposite direction. It has refused to exempt religious institutions that serve the common good””including Catholic schools, charities and hospitals””from its sweeping new health-care mandate that requires employers to purchase contraception, including abortion-producing drugs, and sterilization coverage for their employees.

Last August, when the administration first proposed this nationwide mandate for contraception and sterilization coverage, it also proposed a “religious employer” exemption. But this was so narrow that it would apply only to religious organizations engaged primarily in serving people of the same religion. As Catholic Charities USA’s president, the Rev. Larry Snyder, notes, even Jesus and His disciples would not qualify for the exemption in that case, because they were committed to serve those of other faiths.

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Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, --The 2009 American Health Care Reform Debate, Corporations/Corporate Life, Economy, Health & Medicine, Labor/Labor Unions/Labor Market, Law & Legal Issues, Office of the President, Other Churches, Politics in General, President Barack Obama, Religion & Culture, Roman Catholic, The U.S. Government

LA Times–Obama delivers a confrontational State of the Union address

By using his State of the Union speech to draw sharp contrasts with Republicans on such high-profile issues as taxes and the housing market, President Obama opened an election-year debate on the role of government that could be more intense than any in decades.

Warning Congress that “I intend to fight obstruction with action,” he painted a confrontational picture that stands in sharp contrast with the conciliatory approach taken by the last Democrat to seek a second term, Bill Clinton.

In fact, Obama’s strategy more closely resembles that ofGeorge W. Bushin 2004, who used polarizing issues to increase turnout of his supporters and made few concessions to the center. The approach increases the chance that if he wins a second term, Obama could claim a mandate for his program. It also carries more risk of failure in a nation still deeply skeptical of government activism.

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Posted in * Economics, Politics, House of Representatives, Office of the President, Politics in General, President Barack Obama, Senate

The Full Text of President Barack Obama's State of the Union speech

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Posted in * Economics, Politics, Economy, Foreign Relations, Office of the President, Politics in General, President Barack Obama

(AP) Church Affiliates Get Birth-Control Extension

In an election-year decision certain to disappoint religious conservatives, the Obama administration announced Friday that church-affiliated institutions will get only one additional year to meet a new rule to cover birth control free of charge.

Friday’s announcement by Health and Human Services Secretary Kathleen Sebelius doesn’t apply to houses of worship. Churches, synagogues, mosques and other places of worship were already exempt from the birth-control-coverage rule.

But in many cases, other religious-affiliated employers such as hospitals and universities traditionally haven’t provided any birth-control coverage for their employees.

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Posted in * Culture-Watch, * Economics, Politics, Economy, Health & Medicine, Law & Legal Issues, Office of the President, Politics in General, President Barack Obama, Religion & Culture, The U.S. Government

(Washington Post Editorial) Obama’s Keystone pipeline rejection is hard to accept

We almost hope this was a political call because, on the substance, there should be no question. Without the pipeline, Canada would still export its bitumen ”” with long-term trends in the global market, it’s far too valuable to keep in the ground ”” but it would go to China. And, as a State Department report found, U.S. refineries would still import low-quality crude ”” just from the Middle East. Stopping the pipeline, then, wouldn’t do anything to reduce global warming, but it would almost certainly require more oil to be transported across oceans in tankers.

Environmentalists and Nebraska politicians say that the route TransCanada proposed might threaten the state’s ecologically sensitive Sand Hills region. But TransCanada has been willing to tweak the route, in consultation with Nebraska officials, even though a government analysis last year concluded that the original one would have “limited adverse environmental impacts.” Surely the Obama administration didn’t have to declare the whole project contrary to the national interest ”” that’s the standard State was supposed to apply ”” and force the company to start all over again.

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Posted in * Economics, Politics, * International News & Commentary, Canada, Economy, Energy, Natural Resources, Foreign Relations, House of Representatives, Labor/Labor Unions/Labor Market, Office of the President, Politics in General, President Barack Obama, Senate, The U.S. Government

(WSJ) Lawmakers Reach Payroll-Tax Deal

Congressional leaders reached an agreement Thursday to temporarily extend a payroll-tax cut by two months and begin negotiations on a yearlong extension, aides said.

he agreement could end a political stalemate over the payroll-tax cut, which lowered Social Security taxes for 160 million Americans in 2011. Under the tentative agreement, the House will vote again on a two-month extension and the Senate will prepare to negotiate for an extension that will run through 2012.

Aides said House Speaker John Boehner (R, Ohio) has agreed to hold a new vote Friday on extending the tax cut, bowing to increasing pressure to end an impasse that threatened to leave workers with a tax increase next year.

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Posted in * Culture-Watch, * Economics, Politics, Budget, Consumer/consumer spending, Economy, Health & Medicine, House of Representatives, Labor/Labor Unions/Labor Market, Medicare, Office of the President, Personal Finance, Politics in General, President Barack Obama, Senate, Social Security, Taxes, The National Deficit, The U.S. Government

(NPR) White House Faces Tough Choice On Iran Sanctions

“Congress’s point of view is that we may be running a risk that this will increase the price of oil but that compared to [the risk of ] Israeli or U.S. military strikes on Iran or a nuclear-armed Iran, the oil market impact of these sanctions will pale in comparison,” says Mark Dubowitz, executive director of the Foundation for the Defense of Democracies.

Energy analyst Daniel Yergin, chairman of IHS Cambridge Energy Research Associates, says there are no easy answers.

“There are only trade-offs, and many of the trade-offs are difficult ones,” Yergin says.

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Posted in * Economics, Politics, * International News & Commentary, Energy, Natural Resources, Europe, Foreign Relations, House of Representatives, Iran, Middle East, Office of the President, Politics in General, President Barack Obama, Senate

Robert Samuelson–The Choice on the budget: Squabble or Govern

We haven’t had the robust democratic debate about the role of government that lies at the heart of America’s budget stalemate. The truth is that most Democrats and Republicans want to avoid such a debate because it would force them into positions that, regardless of ideology, would be highly unpopular. This does not mean that the congressional supercommittee, charged with making modest cuts in deficits, need fail. There is a basis for honorable compromise; squandering it would confirm politicians’ preference for fighting over governing.

Contrary to much press coverage, the committee’s Republicans opened the door to compromise by abandoning — as they should have — opposition to tax increases. Sen. Pat Toomey of Pennsylvania proposed a tax “reform” that would raise income taxes by $250 billion over a decade. First, he would impose across-the-board reductions of most itemized deductions and use the resulting revenue gains to cut all tax rates. Next, he would adjust the rates for the top two brackets so that they’d be high enough to produce the $250 billion. All the tax increase would fall on people in the top brackets….

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Posted in * Economics, Politics, Credit Markets, Currency Markets, Economy, House of Representatives, Medicare, Office of the President, Politics in General, President Barack Obama, Senate, Social Security, Taxes, The National Deficit, The U.S. Government

Lawmakers Concede Budget Talks Are Close to Failure

Conceding that talks on a grand budget deal are near failure, Congressional leaders on Sunday pointed fingers at each other as they tried to deflect blame for their inability to figure out a way to lower the federal deficit without having to rely on automated cuts.

The testy exchanges ”” which dominated the Sunday talk shows ”” made clear that leaders in both parties now see the so-called sequester ”” a term meaning an automatic spending cut ”” as the most likely solution to reduce the federal deficit by $1.2 trillion over 10 years, instead of a negotiated package of spending reductions and tax increases, something they have been unable to achieve over the last 10 weeks.

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Posted in * Economics, Politics, * International News & Commentary, America/U.S.A., Budget, Consumer/consumer spending, Corporations/Corporate Life, Credit Markets, Economy, House of Representatives, Housing/Real Estate Market, Labor/Labor Unions/Labor Market, Office of the President, Politics in General, President Barack Obama, Senate, Taxes, The National Deficit, The U.S. Government

Insurance Mandate May Be Health Bill’s Undoing

As Barack Obama battled Hillary Rodham Clinton over health care during the Democratic presidential primaries of 2008, he was adamant about one thing: Americans, he insisted, should not be required to buy health insurance.

“If things were that easy,” Mr. Obama told the talk show host Ellen DeGeneres in February of that year, “I could mandate everybody to buy a house, and that would solve the problem of homelessness. It doesn’t.”

Now President Obama may wish he had stuck to those words. On Monday, the Supreme Court agreed to take up a constitutional challenge to his landmark health care bill, and a decision could come in the midst of Mr. Obama’s 2012 re-election campaign.

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Posted in * Culture-Watch, * Economics, Politics, --The 2009 American Health Care Reform Debate, Consumer/consumer spending, Corporations/Corporate Life, Economy, Health & Medicine, Law & Legal Issues, Office of the President, Politics in General, President Barack Obama