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Obama's budget plan limits his bargaining power

Obama's budget plan limits his bargaining power | What and When? | Scoop.it
President Barack Obama's budget overtures to Republicans may limit his bargaining power if the GOP ever returns to the negotiating table on a grand deficit-reduction deal.
Noa Gadot's insight:

Obama faces the uproar of both the Democrats and the Republicans with his new budget proposal. To summarize, the plan to reduce the deficit is as follows: increase taxes on the wealthy and implement chained CPI to measure inflation which would slow the rise in social security benefits. Acknowledging that health care for older people increases at a higher rate than inflation, the proposal gives a bigger annual adjustment to older retirees.

 

My reaction: I believe that since the president is the (1)Chief Guardian of the Economy (In this role, the president is concerned with such things as unemployment, high prices, taxes, business profits, and the general prosperity of the country), he should propose a plan although it is not one of his (2) formal powers (powers listed in the Constitution). The president does not control the economy, but is expected to help it run smoothly, so he works with the (3) OMB (the Office of Management and Budget- The White House Office responsible for devising and submitting the president's annual budget proposal to Congress). Altough I, as a member of the middle-class, do not appreciate that the social security benefits will come more slowely or decrease, I see why Obama had to incorporate this. Sine Obama is no longer in the (4) "honeymoon" period ( the immediate time after a president gets elected and thus has the highest popularity and greatest influence), he needed to bargain with Congress. The Republicans are against higher taxes on the wealthy as they think it hurts the economy. To gain some/more Republican support, Obama decreased the rate at which people recieve their social security benefits. This, however, hurts the middle-class. To alleviate some of the stress that the plan places on the middle-class, adjustments will be made to (5) Medicare (a program added to Social Security that provides for the elderly). After Congress passes the budget, the (6) GAO, General Accounting Office, will audit, monitor, and evaluate what agencies are doing with their budget.    



 

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2013 Economic Statistics, Economic Indicators Database for year 2013

2013 Economic Statistics, Economic Indicators Database for year 2013 | What and When? | Scoop.it
The Economic Statistics Database for year 2013, or 2013 Econ Stats, has been compiled by EconomyWatch.com from thousands of data sources, including the IMF, World Bank, World Economic Forum and CIA.
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This site provides stastics and indicators that afffect the 2013 economy. The graph shows that the GDP is expected to increase, and the list of indicators provide links with various data.

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Rivera, Garcia campaign — all over again — for congressional seat under cloud of controversy - Miami-Dade - MiamiHerald.com

Rivera, Garcia campaign — all over again — for congressional seat under cloud of controversy - Miami-Dade - MiamiHerald.com | What and When? | Scoop.it
The race in Florida’s 26th Congressional District pits incumbent David Rivera against challenger Joe Garcia in a closely watched contest plagued by controversy.
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Post-Watergate campaign finance limits undercut by changes

Post-Watergate campaign finance limits undercut by changes | What and When? | Scoop.it

This report discusses the effects on the 2010 ruling in the Citizen United v. Federal Election Commission which lifted the limit on corporate and union spending on elections. It discloses that the ruling enables wealthy individuals to spend unlimited money on politics. Obama argues that unlimited spending will undoubtedly lead to corruption and scandal. Furthermore, it states that Obama is pushing for broader disclosures in an attempt to intimidate conservatives.

 

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Lauren Friedman's comment, September 22, 2012 7:51 PM
The article centers around the case that "money corrupts." It is argued that the Watergate scandal would not have even been necessary if super PACS had exsited because any amount of money could have been pledged to any candidate, or, in that case, Nixon. The article goes on to discuss the fact that during the 2008 election, McCain relyed on public financing to fund his campaign, whereas Obama took advantage of the concept of PACs and therefore earned more money for his campaign. I believe that there should be no limit on how much money can be spent on a campaign by either party. If everything was regulated, then the level of competition would decrease, and one candidate would have a harder time standing out from the other.
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gdp4q12_adv_fax.pdf

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This is a summary of the fourth quarter of 2013. It includes highlights of the real GDP such as a cut in the defense spending and net exports.

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CBO Forecast: 1.4% GDP, 8% Unemployment, 7 Million to Lose Health Insurance

CBO Forecast: 1.4% GDP, 8% Unemployment, 7 Million to Lose Health Insurance | What and When? | Scoop.it
The Congressional Budget Office's just-released economic forecast for 2013 is dispiriting, to say the least.
Noa Gadot's insight:

The Congressional Budget Office projects that the economy willl grow at a rate of about 1.4% while the unemployment rate remains about 7-8%. This article is clearly biased against Obama as it attacks the Obama administration's failure to create jobs.

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The Hidden History of the American Electorate

The Hidden History of the American Electorate | What and When? | Scoop.it

Ronald Brownstein, author of “The Hidden History of the American Electorate,” discusses the how economic discontent influences the 2012 election. In the 2008 election, Obama won an unprecedented 52.8% popular vote. Brownstein predicts that Obama will not win such a dramatic victory in popular votes because economic discontent prevents party realignment of voting groups. This article provides information on the predicted voting behavior of women and men, minorities, religious groups, and independents based on a 2008 survey conducted by the Edison Media Research/Mitofsky International National Election Pool.

I agree with the voting trends (women and minorities usually go Democrat while white men usually vote Republican). I like that minorities and women got more involved in politics. This article claims that the involvement of women and majorities resulted in Obama’s triumphant win in popular votes. Will this happen again this year?

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Sept. 2: Split Verdict in Polls on Romney Convention Bounce

Sept. 2: Split Verdict in Polls on Romney Convention Bounce | What and When? | Scoop.it

"Polls have delivered a muddled picture of what sort of bounce Mitt Romney received from the Republican convention in Tampa, Fla." Some of the highlights of the poll include the following: Favorable side for Mr. Romney is the Rasmussen reports tracking poll which shows him 4 percentage points ahead of Obama. It includes analysis of recent polls. I really like how this page includes updated (Sept.3) polls in a well organized fashion.

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