Thursday, February 21, 2013
Military looks to cut $34 billion with cuts to defense budget
Few Americans can likely define "sequestration," but since the "fiscal cliff" is over, it's time to update your political vocabulary. The nation's politicians are seeking to shrink the country's spending, and one place the government wants to cut back is through military spending. "The cuts scheduled to begin March 1 take a huge bite out of the federal budget, including the military," said a report on WHPTV.com. "Those cuts will take a disproportionally large chunk out of military spending in Pennsylvania." The state seems to be more hardly hit than others in the country. According to statistics in USAToday, Pennsylvania will be the tenth hardest hit state in the United States. The Commonwealth is slated to lose 10,414 military jobs with …
Wednesday, December 19, 2012
Lisa Loper of the Scott Loper Team talks about a possible casualty of the Fiscal Cliff negotiations, the average American homeowner and their mortgage interest deduction.
As the Fiscal Cliff approaches, many reports speculate that reducing or eliminating the home mortgage interest deduction could be part of the deal brokered by Congress. This would affect millions of homeowners who currently deduct their mortgage interest payments from their income taxes. The National Association of REALTORS® opposes any change that would harm the housing market. The mortgage interest deduction is vital to the stability of the American housing market and economy. Ben Stein discussed this proposal recently on CBS Sunday Morning and referred to the “wisdom” of eliminating mortgage deduction as "foolish”: “If we could get housing roaring back, that would go a long way towards full recovery for our economy. Obviously, …
Friday, November 30, 2012
President Obama visits Hatfield toy company as part of tour pushing extension of payroll tax cuts.
President Barack Obama visited a toy factory in Hatfield Township on Friday, citing it as an example of the type of business that would suffer if Congress does not act soon to prevent the country from running over the "fiscal cliff," a series of tax increases and cuts in spending that are due to come into effect at the beginning of the new year. In remarks broadcast live on C-SPAN, Obama called Hatfield-based K'Nex, which makes kits of interlocking pieces that allow children to construct their own toys, "one of the few companies in the toy industry that has aggressively moved jobs back here [to the U.S. from overseas]," The President said middle-class consumers will have money "to buy more K'Nex" if Democratic and Republican legislators …
Tuesday, November 27, 2012
President Obama is scheduled to visit Hatfield manufacturer on Friday as part of his tour to raise awareness about the 'looming fiscal cliff.'
According to multiple news sources, President Barack Obama is scheduled to visit Hatfield on Friday as part of a tour to make a public case for his administration's plan for addressing the impending "fiscal cliff." So what is the fiscal cliff? It's the changes expected to go into effect when the 2011 Budget Control Act expires at the end of the year. Among the changes are: At the same time, spending cuts agreed on in last year's debt ceiling agreement will go into effect, meaning steep cuts to things like the defense budget and Medicare. According to the Associated Press, both sides warn that going over the cliff could harm the fragile economic recovery, but the White House and congressional Republicans still differ on whether the answer …
Lee
8:37 pm on Friday, March 15, 2013
Nothing Happened, see it was a fake out. more ›