Bloomberg Urges Super Committee To Go Big, Promotes Higher Taxes For All

By Andrea Salazar

New York City Mayor Michael Bloomberg called on federal lawmakers Tuesday to seriously address the nation’s debt and deficit by allowing the Bush tax cuts to expire.

In a speech at the left-leaning Center for American Progress in Washington, D.C., Bloomberg touted the plan put forth last year by President Obama’s debt commission. The proposal co-crafted by Democrat Erskine Bowles and Republican Alan Simpson, featured large spending cuts, scaled-back tax breaks, increases to personal tax rates and tweaks to federal entitlement programs like Social Security and Medicare.

“The spending cuts in Simpson-Bowles, plus Clinton-era tax rates, plus closing some tax loopholes and ending wasteful subsidies would save $8 trillion and effectively bring our budget into balance by 2021,” Bloomberg said during a speech at the Center for American Progress in Washington.

Bloomberg warned that the current deficit committee’s goal of $1.2 trillion in cuts “would be almost as bad as getting no deal at all.” He called that figure “a drop in the bucket” compared to the nation’s $14.6 trillion debt.

“It will allow Congress to walk away from real deficit reduction until at least 2013.”

Calling for “a flatter and lower” tax, Bloomberg called on President Obama to allow the Bush tax cuts expire for all tax brackets.

“All income groups have to be part of the solution,” Bloomberg said. “It’s fair to ask those who earn more to bear more of the burden. That is the whole idea behind a graduated income tax,” Bloomberg said. “But all of us should help carry the load.”

However, the Mayor, who also happens to be the 12th richest person in the U.S., acknowledged that his recommendations are not a “cure-all,” adding that entitlement, tax and immigration reforms are also necessary.

Addressing the gridlock in Congress, Bloomberg pushed Democrats and Republicans to compromise. “We are not going to be able to cut our ways out of the problem and we’re not going to be able to just tax our ways out of the problem,” he said. “We must do both.”

“All sides have to be willing to give on something,” Bloomberg added. “We don’t have to slaughter the sacred cows but we do need to get a little milk from them.”

Hoyer: House Prepared To Vote On Reconciliation Bill Again

By Chingyu Wang-Talk Radio News Service

House Majority Leader Steny Hoyer (D-Md.) told reporters Tuesday that if the Senate alters the reconciliation bill passed by the lower-chamber Sunday night, the House is ready to vote on the package of amendments again.

"Our members are prepared to vote again," Hoyer said.

According to the rules governing Congress, any change made to the reconciliation bill by the Senate would require the bill to be re-approved by the House.

Hoyer said that he expects the Senate to act soon.

"Expect the Senate to be able to approve [the reconciliation bill] before the end of the week,” the Majority Leader said.

Hoyer also shot back at Republican criticism Tuesday, stating that healthcare reform “is not a government takeover" and will have positive effects on all Americans immediately.

“These bills reach broader and deeper and will have positive effects on every American’s life,” said Hoyer.

“Starting right away, tax credits will be available for small businesses and there will be relief for seniors who fall into the Medicare prescription drug 'donut hole' gap in their coverage,” Hoyer explained.

GOP Head Vows That Health Care Fight Is Not Over

By Chingyu Wang-Talk Radio News Service

House Republican Conference chair Mike Pence (R-Ind.) told reporters Tuesday that House Republicans will continue to fight against the health care legislation that was passed on Sunday and signed into law two days later.

“We are disappointed with the outcome of the vote on Sunday night; we are determined to continue to take our case against this government takeover of healthcare to the American people,” said Pence.

“This fight is not over,” Pence added.

House Republican Conference Vice Chair Cathy McMorris Rodgers (R-Wa.), who joined Pence, stressed that the legislation will place an economic burden on Americans.

“This bill is going to add more taxes, more requirements on our small businesses. Premiums are continuing to escalate; and CBO estimates that under the bill that just passed, premiums will increase between 10% -13%,” said Rodgers.

Stepping away from health care, Pence addressed the administration's relationship with Israel, notably the settlement issue.

“The time has come for this administration to stop bullying Israel. The whole suggestion that the construction of settlements in undisputed areas of Jerusalem is somehow an affront to the United States, or an affront to the peace process, is absurd,” said Pence.

For Democrats, Health Reform Isn't About Fixing The System, Says Gregg

By Chingyu Wang
Talk Radio News Service

Sen. Judd Gregg (R-N.H.) said Thursday that, for Democrats, policy has taken a backseat to politics in the ongoing debate over health care reform.

"This dialogue right now is no longer about substance, it's no longer about the purposes, it's just about 'I need to win because I need to win, because I need to win,'" said Gregg. "They see a loss as being a loss of credibility, it's no longer about the policy or the effectiveness or really about health care."

By metaphorically referring to the nation as a defibrillator, Gregg said on Thursday that his biggest concern over healthcare reform is the $500 billion worth of cuts to Medicare Democrats are proposing, which in his view is significant to the economy.

Medicare's $38 trillion fund "is the power source for defibrillator when we have this fiscal cardiac arrest as a nation," said Gregg. "And if you use it up now to create new entitlements...you know we're going to aggravate the cardiac arrest. Then the defibrillator has no energy."

Gregg added, however, that Medicare spending should "absolutely" be adjusted to make it solvent.

On the possibility of Democrats using reconciliation to pass reform, Gregg labeled it as a tool by which the Democrats can "buy the votes to pass the big bill."

"Reconciliation, by its definition, [means] you have to change a law," said Gregg. "You can't reconcile a bill that is not passed."

"It was never created for the purposes of doing policy."

Sebelius And Insurance Industry Head Clash Over Health Care Reform

By Chingyu Wang-Talk Radio News Service

Health and Human Services Secretary Kathleen Sebelius and America's Health Insurance Plans (AHIP) CEO Karen Ignagni offered back to back remarks Wednesday that highlighted the vast differences between how the Obama administration and the insurance industry are viewing the current attempt to reform the U.S. health care system.

Sebelius, who appeared at AHIP's annual conference, suggested that funds used by AHIP for attack ads could be better spent on lowering coverage costs.

"I am hopeful that you can take the assets that you have and the influence ... and use it to start calling for comprehensive reform to pass," said Sebelius. "Instead of spending energy attacking the parts of the proposal that you don't like, come to the table."

Ignagni held a press conference immediately after and took the opportunity to raise concerns that AHIP continues to have with the legislation proposed by Democrats.

"We are committed to bringing everyone into the [health care] system," said Ignagni. "The problem that we have with the current legislation is that we are very concerned that it will make health care more expensive, not more affordable."

Added the CEO, "We have offered very specific proposals [to ensure affordability,]" said Ignagni. "We believe that the legislation needs to be fixed in that area; that it still can be fixed."

Sebelius argued that attacking the Democrat's proposal is a "short-term strategy."

"You can continue the opposition to reform and if you do, and reform fails, I can give you a pretty good prediction of what happens next," Sebelius said. "By next March, premiums will take even a bigger bite out of American's wages, your market will shrink even further [and] more Americans will lose their employer-sponsored insurance."