The Leader's Ledger

Posted by Brian Patrick on

Good morning, 

Last night, the House passed a bipartisan Continuing Resolution (CR) that doubles President Obama's own request for emergency disaster aid and will keep the government operating through November 18th at the levels agreed to by Leader Reid, Senator Schumer and the Administration during the debt limit debate.

Unfortunately, Senate Majority Leader Harry Reid is already backing down from his pledge to meet these levels and choosing to play shutdown politics with disaster aid for people that desperately need it. FEMA has said that its Disaster Relief Fund is dangerously low and will likely run dry on Monday if action isn’t taken. With people struggling with massive damage and working to get back on their feet from the recent hurricanes, floods, tornadoes, wildfires and droughts, it’s beyond irresponsible for Leader Reid to hold up these funds. Senate Republicans are united and support the House CR, so now it’s up to Leader Reid and Senator Schumer. Will he choose to shut down the government and prevent disaster victims from getting the aid they need, or will he make good on the bipartisan agreement and allow the Senate to pass the House CR?

Today In History: In 1806, amid much public excitement, American explorers Meriwether Lewis and William Clark return to St. Louis, Missouri, from the first recorded overland journey from the Mississippi River to the Pacific coast and back. The Lewis and Clark Expedition had set off more than two years before to explore the territory of the Louisiana Purchase.

Birthdays: Bruce Springsteen, Ray Charles, Jason Alexander and Jamie Bergman

Here is what’s in today’s Ledger ...

State Of Play: Leader Reid Threatens Shutdown, Plays Politics With Disaster Funding

Speaker Boehner: Americans Impacted By Disasters Need Assistance Now, Harry Reid and Senate Democrats Should Pass This Bill Without Delay. "I urge the Senate to quickly pass this bill so we can send it to the president and keep our focus on the American people's top priority: jobs," said GOP House Speaker John Boehner in a statement released after the vote. "It provides immediate assistance to Americans impacted by natural disasters in a way that's best for families and taxpayers. And it lets lawmakers continue the important work of removing government barriers to private-sector job growth. The Democratic-led Senate should pass it without delay." CBS News

Leader Cantor To Senator Reid: Stop Threatening A Government Shutdown, Stop Denying Americans Of Disaster Assistance. House Majority Leader Eric Cantor (R-Va.), meanwhile, says the burden of passage now falls to Reid. "We're intending that the money gets to FEMA and to disaster victims as they need it," Cantor said after the vote. "Harry Reid's political ploy is not going to work." If Senate Democrats kill the House bill, "then I guess Harry Reid will have to bear the burden of denying disaster ... victims the money that they need," Cantor charged. The Hill

  • Flashback: There Was Bipartisan Support For The Republican Plan Back In June. The drama and battling over disaster aid and stopgap spending is unusual. Such measures usually pass routinely since the alternative is shutting down much of the government and denying help to victims of floods, hurricanes and other disasters. What is more, the House GOP plan won bipartisan support in June when it passed as part of a broader homeland security spending bill. And the $3.7 billion in House aid would provide sufficient help while lawmakers work out a broader spending bill for the 2012 budget year beginning Oct. 1. The Associated Press


State Of Play (2): Senate Democrats Continue To Sour On President Obama’s Proposal To Raise Taxes On Small Business Owners

Schumer, Durbin Disappointed That President Obama’s Tax Plan Fails To Gain Traction Among Senate Democrats. The "Buffett rule" plan floated by President Barack Obama to raise taxes on those making more than $1 million a year might not be getting the traction Schumer had hoped. Richard Durbin, the No. 2 Democrat in the Senate, said he has raised "other possibilities" for raising revenues from the rich in talks with Schumer, his Washington housemate. Durbin told Reuters that leaders were trying to "measure" the Buffett rule's interest among Democrats. Speaking of tax ideas generally, he added, "There are some tax proposals which have more likelihood of passage" than others. Reuters

  • President Obama’s Plan To Raise Taxes Hurts Tech Start Ups, Lessens U.S Entrepreneurs Competitive Advantage. It lessens the comparative advantage of US entrepreneurs compared to their foreign counterparts. While Silicon Valley is still the envy of the world, entrepreneurs outside the US are following in our technological footsteps. Technology is one of the few bright areas of our moribund economy. Why lessen this advantage with taxes that chip away at start-up capital? If the “Buffett Rule” is passed, it’s possible that little will change overnight, or even by the next election. But, over time, the higher effective capital gains will begin to eat away at the development of new technology as the pool of capital shrinks and seasoned investors fund fewer risky projects. The Washington Post

The Law Of Unintended Consequences - President Obama May End Up Taxing The Very People He Claims He Is Trying To Help. Obama would let the Bush tax cuts expire for Americans making more than $200,000 a year ($250,000 for households) and limit their itemized deductions, be they for charitable contributions, mortgage or tax-exempt interest, or employer-sponsored health care. In his quest for fairness, Obama may end up taxing those he wants to help. ... In economics, this is called the law of unintended consequences. Somehow Obama managed to spend 12 years on the law school faculty at the University of Chicago without absorbing any of the school’s free-market zeitgeist. The president’s plan, or proposal, or whatever you call an outline of lofty goals with few details, is titled, “Living Within Our Means and Investing in the Future: The President’s Plan for Economic Growth and Deficit Reduction.” The title is misleading, and a more accurate subtitle would be: “The President’s Plan to Spend Now and Pay for It Later.” Bloomberg


The Road Ahead: House Set To Vote On TRAIN Act – The Latest Effort By House Republicans To Stop President Obama’s Job Destroying Regulatory Agenda

TRAIN: House Republicans Act To Prevent President Obama From Further Stifling Job Creation and Economic Growth. In a statement to The Daily Caller on Thursday, TRAIN Act sponsor Rep. John Sullivan, the Oklahoma Republican who sponsored the bill, accused the White House of killing jobs through excessive regulation. “This President has shown time and time again he doesn’t understand that over-regulation kills private sector jobs,” said Sullivan. The administration “was responsible for ZERO job growth in the month of August,” Rep. Sullivan added. “If President Obama was truly interested in passing a real jobs plan, this is a jobs bill he would have no problem supporting.” National Economic Research Associates released a report Thursday that found the EPA rules at issue — known as the Mercury and Air Toxics Standard and the Cross-State Air Pollution Rule — would cost 183,000 jobs annually and significantly increase Americans’ energy costs. The rules, the report said, would cost the power industry $21 billion annually and reduce the average American family’s annual disposable income by $270. The Daily Caller

Chairman Upton: House Republicans Are Working To Put The Brakes On President Obama’s Regulatory Agenda and The EPA Train Wreck. Yet, while the President continues to preach job creation, his administration continues to prevent it with a regulatory agenda that stifles growth and puts millions of jobs in jeopardy. Regulations that are unnecessary, poorly structured and overly burdensome leave businesses and investors stuck in a complex web of red tape. President Obama’s Environmental Protection Agency is one of the biggest job-destroying offenders in his administration. Today, the agency has more than 300 regulatory actions under consideration and it continues to issue new rules at an unprecedented pace. This includes the agency’s Utility MACT Rule, estimated by the agency to impose new compliance costs of $10.9 billion annually and EPA’s notorious greenhouse gas regulations, estimated to eliminate as many as 1.4 million jobs by 2014. Human Events


Keeping Tabs

In Rush to Assist Solyndra, U.S. Missed Warning Signs. But behind the pomp and pageantry, Solyndra was rotting inside, hemorrhaging cash so quickly that within weeks of Mr. Obama’s visit, the company canceled plans to offer shares to the public. Barely a year later, Solyndra has become one of the administration’s most costly fumbles after the company declared bankruptcy, laid off 1,100 workers and was raided by F.B.I. agents seeking evidence of possible fraud. The New York Times

DEM Poll Shows Democrats Are Faring Worse Than They Did In 2010. The poll shows Democratic House candidates faring worse than they did in the 2010 midterms ... "This is obviously not the best moment to judge the Democrats' eventual fortunes--with fewer voters identifying as Democrats, with Democrats themselves less enthusiastic about the president, and with his overall approval rating down 7 points and losing independents in these districts," Greenberg wrote in his memo. " National Journal


Off The Beaten Path

Awesome: Reverend Reveals Secret – She Plays Roller Derby WHAS

Lawn Ornament Thief On The Loose - Three Dogs, Two Pigs, One Goose With Two Goslings, Three Deer and A Little Fisherman Statue Still Missing – York News-Times

You Know You Want One ....

 

 





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