Fiscal cliff

Cliff notes

I was glad to see that Brad Miller voted against the "Avoid the Cliff" compromise that passed through Congress like so much shit through a goose last night. (Mike McIntyre also voted against it, but I'm guess he was probably just confused.) The process was sausage-making at its worst, producing a rank piece of legislation that offered as much to corporate interests as it did to actual people, while doing nothing to rein in our insanely bloated defense budget, the grand-daddy of all special interests.

Fiscal Cliff Action in Raleigh on Monday, Dec. 31st at 2 PM

The fiscal cliff negotiations are coming down to the wire in Washington, D.C. – which means our country faces a choice of protecting working families and the middle class, or going over the "cliff" in order to save tax breaks for the very wealthy. On Monday, Congress will likely be voting on several proposals to protect middle class families – which means now is the time for us to make our voices heard in public and in the media.

Please join us on Monday, December 31 at 2 PM in Raleigh near the Fayetteville Street New Year's Eve acorn drop site.
We will be gathering to urge Congress to "not drop the ball on the middle class" in order to protect tax breaks for the wealthy. This will be a public media event (so turnout will be important). It will also be an opportunity to make calls to Congress and to educate the public about the choices facing our country.

Fuqua School of Business survey shows strong support among CFOs for Simpson-Bowles style plan to fix the debt

Front-paged in the spirit of dialogue. Does not represent the opinions of BlueNC owners.

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Duke University’s Fuqua School of Business http://www.fuqua.duke.edu/ released their quarterly CFO survey http://cfosurvey.org/ and found that more than 62% of polled CFOs favored a Simpson-Bowles style plan to fix the debt, which includes increased revenues along with spending cuts.

In the survey release, Campbell Harvey http://www.fuqua.duke.edu/faculty_research/faculty_directory/harvey/, a Fuqua finance professor and founding director of the survey, expressed the significance of these surprising results, stating, “CFOs generally prefer less taxation across the board, so their willingness to accept increased tax rates is dramatic. U.S. companies are sending a strong message to Washington to meet in the middle to address the budget crisis, and to do it soon.”

Support from CFOs for a plan that includes tax increases is indicative of the urgency of this crisis and the need for Congress and the President to get a solution crafted. The results indicate that CFOs view the uncertainty of unsustainable debt as the greater threat.

Do-nothing Burr goes after the needy, again

How can you tell when he's lying? His mouth is moving:

Burr: We'll Talk Taxes If Democrats Ease Entitlement Stance

Sen. Richard Burr (R-NC) told WFMY News 2 he'd be willing to discuss tax increases for the wealthiest Americans if Democrats are willing to make cuts to "entitlement" programs such as Medicare, Medicaid and Social Security.

This non-offer offer is probably in response to some negative exposure he's going to get today:

The healthcare sky is not falling

This came across my screen today ... a reasoned and informed perspective about health care spending. The sky is not falling. Never has been.

Cliff happens

Given that so many "leaders" seem to have a hard time reading and understanding the lessons of economic history, this little cartoon is shared for your edification. Especially you, Senator Hagan.

Zombie Reagan stalks the N&O editorial pages

Courtesy of the John Locke Foundation:

Republicans historically have been the party of low taxes. That stance has served the party well, and because of Reagan and Kemp it resulted in 25 years of record economic growth for America...Don’t play the president’s class warfare game on taxes, and question why bloated and duplicative government programs need more money, especially when the nation has incurred a $16 trillion debt that is growing daily.

What this puppet fails to mention (of course) is that Reagan increased the public debt more than all 200 years-worth of previous Presidents combined. Something like 189% if memory serves. Which makes this foray into the land of hyperbole even more laughable:

Tell your Senators and U.S. House Reps what $2k means to you:


President Obama has asked the people of America to “call your members of Congress, write them an email, post it on their Facebook walls” and tweet about middle-class tax cuts using the hashtag “#My2k.”

Please tell your Senators and U.S. House Rep what you'd have to give up should your taxes go up by about $2k a year.

Go here to easily send a message: http://bit.ly/U4sYYM. Thanks!

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