QUOTE OF THE DAY
Weekly Standard: Obama Orders Raise for Biden, Members of Congress, Federal Workers
President Barack Obama issued an executive order to end the pay freeze on federal employees, in effect giving some federal workers a raise. One federal worker now to receive a pay increase is Vice President Joe Biden.
According to disclosure forms, Biden made a cool $225,521 last year. After the pay increase, he'll now make $231,900 per year.
Americans for Tax Reform: $1 Trillion Obamacare Tax Hike Hitting on Jan. 1
On January 1, regardless of the outcome of fiscal cliff negotiations, Americans will be hit with a $1 trillion Obamacare tax hike.
Obamacare contains twenty new or higher taxes. Five of the taxes hit for the first time on January 1. In total, for the years 2013-2022, Americans face a net $1 trillion tax hike for the years 2013-2022, according to the Congressional Budget Office.
Chicago Tribune: Wisconsin retirees could face 13% pension cut
Retired public employees in Wisconsin could see their monthly pension payments decrease by as much as 13 percent starting in May, the last in a series of reductions caused by the most recent recession, the Department of Employee Trust Funds warned Friday.
Reason: Tough Year Ahead for California Taxpayers and Wealth Producers
California’s Democratic leaders are giddy about the future now that they have gained everything they wanted in the last election—voter-approved tax increases and a two-thirds supermajority in both houses of the Legislature, thus rendering Republicans little more than an annoying irrelevancy that can no longer block tax hikes.
Huffington Post: 112th Congress Least Productive Since 1940s
As 2012 comes to a close, the 112th Congress is set to go down in American history as the most unproductive session since the 1940s.
According to a Huffington Post review of all the bills that hit President Barack Obama's desk this session, Obama has signed 219 bills passed by the 112th Congress into law. With less than a week to go in the year, there are currently another 20 bills pending presidential action. In comparison, the last Congress passed 383 bills, while the one before it passed 460.
Detroit News: Michigan Governor Signs Emergency Management Rule
Gov. Rick Snyder signed a new emergency manager bill Thursday, 52 days after voters repealed a similar version of the law.
Snyder spokeswoman Sara Wurfel confirmed the replacement law is among 19 bills Snyder signed into law Thursday.
"These new laws recognize the vital importance of financially stable, economically vibrant communities to Michigan's future," Snyder said in a statement. "They also respect the needs of citizens and taxpayers by delivering greater oversight and efficiency. Our reinvention of government is delivering meaningful reforms that will keep Michigan on the path to prosperity."
The law was not granted immediate effect, so it won't go into effect for 90 days. The Legislature officially adjourned at noon Thursday.