On Tuesday, the Congressional Budget Office projected a deficit of $1.1 trillion in 2012, jobless rates to stay well above 8.0 percent and economic growth to stay around two percent. Nebraska Sen. Mike Johanns says these numbers prove that the Obama agenda is not working and is actually making things much worse. Johanns is stunned that Obama hardly even referenced deficits in his State of the Union speech. He also says projections of much lower deficits in the coming years will not happen because those estimates assume all of the Bush tax cuts will expire. Johanns says scrapping the Bush tax cuts would depress our economy. He also gives a glimpse at the fiscal restraint Senate Republicans will be advocating this year.
Archives for January 31, 2012
Sunshine State Showdown
After watching more than a week of ad blitzes, debates and character attacks, Florida Republicans will decide the winner of today’s primary and the recipient of its 50 delegates to the GOP convention later this year. Florida Rep. Dan Webster tells us why the economy will undoubtedly be the top issue for Floridians this year and why he believes President Obama has failed to make economic conditions better there. Webster also discusses the negative tone of the campaign in Florida and whether it will turn off independents and some Democrats away from the eventual Republican nominee.
CLASS Warfare
One of the provisions of the president’s health care plan that helped to make the package fiscally palatable was the CLASS Act. It’s a program originally designed to allow people to pay a small amount monthly for a few years and then receive about $18,000 per year if they require long-term care in a nursing home or some other way. Last year, the Obama administration announced it was not implementing the program because it was no fiscally sound. But at the same time, Obama says he opposes its repeal. The fight comes to the House of Representatives on Wednesday, as GOP lawmakers try to repeal the provision. Most Democrats will defend it. Grace-Marie Turner of the Galen Institute joins us to explain how the CLASS Act originated, why it was deemed financially unfeasible and why there needs to be a repeal effort when it’s not being implemented right now.
Three Martini Lunch 1/31/12
Greg Corombos of Radio America and Jim Geraghty of National Review like a new poll showing Republican Denny Rehberg in very good shape to defeat incumbent Democratic Sen. Jon Tester. They also groan as the Congressional Budget Office projects high deficits, little job growth and sluggish economic growth in 2012. And they wonder why the D.C. government and police don’t seem interested in enforcing the laws when it comes to the Occupy movement.