November 21, 2012 |
Obama for America provided a hint Wednesday of what its post-campaign role may be, sending supporters an email promoting the president's stance on the fiscal cliff and encouraging recipients to spread the White House's message. “Your voice and action helped reelect President Obama,” the email declares. It thanked everyone for their support and responded to what the group says has been a persistent request: “Keeping you informed about how the president is fighting for you so you can continue to talk to your friends, family and neighbors.” Detailing Obama's plan for dealing with the fiscal cliff, the email lists the proposal to extend tax cuts for 98% of Americans and 97% of small businesses, ending the tax cuts for the top 2% of Americans and more than $3 trillion in cuts.
November 16, 2012 |
As someone who writes about the economy and the federal budget, I've been forced to use the phrase "fiscal cliff" repeatedly in recent months. Chances are better than good that I'll use it many more times in the coming weeks, as President Obama and congressional leaders try to avoid... And here is where I run into a metaphorical wall. What happens if you don't avoid a cliff? You go over it, plummeting into the abyss. Or the ravine. Or the valley below. Whatever. It's a very binary thing: Either you avert disaster, or you don't.
November 15, 2012 |
WASHINGTON - U.S. companies had been pulling the country out of the Great Recession. Now, though, consumer confidence is rising higher than it has in years, while companies are spooked about the nation's risk of going off the so-called fiscal cliff. As politicians and business executives fret, economists wonder whether consumers now can start spending more heartily and take a bigger role in the recovery. So worried are major U.S. corporations about the potential fall from the cliff - the combination of expiring tax cuts and automatic federal spending reductions at the start of next year - that they have mounted a full-court press on the White House and Congress to avert the potential hit of more than $500 billion to the economy next year.
November 15, 2012 |
As America careens toward the year-end "fiscal cliff" with Democrats pressing for tax hikes and Republicans demanding budget cuts, California voters have one firm word for their elected officials: Compromise. By that they mean: Make the other side compromise. In a survey that confirms the difficulty of coming up with popular ways to do unpopular things, a USC Dornsife/Los Angeles Times poll found that 3 in 5 Californians want their elected officials to "compromise with the opposite party, even if that means giving up some long-held positions.
November 15, 2012 |
Well, so much for the olive branch. Last week, analysts and pundits (including yours truly ) were convinced that President Obama had signaled a clear path to compromise on taxes. Although he insisted on squeezing high-income Americans for more tax dollars, he was no longer obsessed with the idea of ending their Bush-era tax cuts. The middle ground -- or rather, the left-of-center meeting point -- would be an overhaul of the tax code that reduced the deductions, exemptions, credits and preferences for the wealthy while leaving rates intact.
November 14, 2012 |
In his first press conference since his reelection, President Obama found himself in a position few would have predicted even a few months ago. The incumbent was on message and on his most comfortable footing Tuesday talking to the media about the economy - demanding tax increases for the wealthiest Americans and repeatedly invoking his concern for the middle class. When his inquisitors put foreign affairs and national security on the table, the president mostly spoke with a lot less force.
November 13, 2012 |
WASHINGTON -- President Obama is assuring liberal allies that he will fight for the middle class during upcoming fiscal negotiations with Republicans, and he is urging those supporters not to lay down their weapons just because the election is over. But the White House is also talking about the inevitability of compromise as the administration and congressional Democrats and Republicans prepare to negotiate an end-of-year fiscal deal that will center on the expiration of the George W. Bush-era tax cuts and a spate of automatic spending cuts.
CALIFORNIA | LOCAL
November 12, 2012 |
When John Noguez ran for Los Angeles County assessor in 2010, large donations started pouring into his City Council account in Huntington Park, where Noguez served as a councilman. More than $100,000 flowed through the account that year, mostly from downtown Los Angeles business owners. Only one $250 donation came from a Huntington Park address, records show. Within months of Noguez's election, he and his top aides knocked at least $36 million off the assessed values of properties owned by donors to that Huntington Park fund, a Times investigation has found.
November 9, 2012
It wasn't exactly a Kumbaya moment, but top congressional Republicans offered Wednesday to meet the president halfway when it comes to solving the government's fiscal woes. In fact, House Speaker John A. Boehner (R-Ohio) said he would support a tax code overhaul that raised more revenue - an apparent departure from the House GOP's no-new-taxes orthodoxy. There's an opportunity here for President Obama to finally obtain the "grand bargain" he's been talking about for years, a deal that brings the federal deficit and debt under control by cutting spending, slowing the growth of entitlements and, yes, raising revenue.
November 9, 2012 |
Top congressional Republicans and President Obama took turns this week analyzing what Tuesday's election results mean for the federal budget and the looming "fiscal cliff. " Here's a short version: House Speaker John A. Boehner (R-Ohio) and Senate Minority Leader Mitch McConnell (R-Ky.) said the election wasn't a referendum on Obama's economic plan, and Obama said it was. Or to put in another way, the GOP said "no mandate," and Obama said "yes mandate. " Good thing that's settled!