QUOTE OF THE DAY
CNS News: Federal Food Stamp Program Spent Record $80.4B in FY 2012
During fiscal year 2012, the U.S. government spent a record $80.4 billion on food stamps, the Supplemental Nutrition Assistance Program (SNAP), a $2.7 billion increase from FY 2011. (Fiscal year 2012 ran from Oct. 1, 2011 through Sept. 30, 2012.)
The Hill: Democrats look for up to $1 trillion in new tax revenues this year
Democrats say they want to raise as much as $1 trillion in new revenues through tax reform later this year to balance Republican demands to slash mandatory spending.
Democratic leaders have had little time to craft a new position for their party since passing a tax deal Tuesday that will raise $620 billion in revenue over the next ten years.
The emerging consensus, however, is that the next installment of deficit reduction should reach $2 trillion and about half of it should come from higher taxes.
Chicago Tribune: State lawmakers focus on pension reform
With time running short in the lame-duck session, state lawmakers on Sunday dropped hot-button issues dealing with guns and marijuana but kept alive hopes of reforming pensions and giving driver's licenses to illegal immigrants.
The slimmed-down agenda unfolded rapidly as the House, returning to the Capitol for the first time in a month, pulled an assault weapons ban from consideration and the sponsor of legislation to allow Illinoisans to use marijuana for medical purposes said the chances of quick passage is unlikely.
The spotlight on whether Democratic Gov. Pat Quinn and legislators can come together on financial changes to the state's $96.8 billion government worker pension debt intensified Sunday. House Republican leader Tom Cross of Oswego signed onto a plan offered by two House Democrats and urged GOP members to support it.
New York Post: A farewell to optimism
A few days ago, going through some memorabilia of my mother’s, I found the original promotional material for this syndicated column, launched in 1993. I was billed as “A New Conservative Voice for Young Women!”
More than 17 years ago, I set out to explain how a Yale-educated young woman from a secular Oregon family could become a social conservative:
Every life is precious. It is better to care for your children than to kill them. Divorce hurts children; it also breaks apart life’s most precious commitment — a family.
New York TImes: Social Security: It’s Worse Than You Think
CONGRESS and President Obama have pushed through a relatively modest stopgap measure to avoid the “fiscal cliff,” but over the coming years, the United States will confront another huge cliff: Social Security.
n the first presidential debate, Mr. Obama described Social Security as “structurally sound,” and Mitt Romney said that “neither the president nor I are proposing any changes” to the program. It was a rare issue on which both men agreed — and both were utterly wrong.
For the first time in more than a quarter-century, Social Security ran a deficit in 2010: It spent $49 billion dollars more in benefits than it received in revenues, and drew from its trust funds to cover the shortfall. Those funds — a $2.7 trillion buffer built in anticipation of retiring baby boomers — will be exhausted by 2033, the government currently projects.
Washington Times: Obama supporters shocked, angry at new tax increases
Sometimes, watching a Democrat learn something is wonderful, like seeing the family dog finally sit and stay at your command.
With President Obama back in office and his life-saving “fiscal cliff” bill jammed through Congress, the new year has brought a surprising turn of events for his sycophantic supporters.
“What happened that my Social Security withholding’s in my paycheck just went up?” a poster wrote on the liberal site DemocraticUnderground.com. “My paycheck just went down by an amount that I don’t feel comfortable with. I guarantee this decrease is gonna’ hurt me more than the increase in income taxes will hurt those making over 400 grand. What happened?”
Shocker. Democrats who supported the president’s re-election just had NO idea that his steadfast pledge to raise taxes meant that he was really going to raise taxes. They thought he planned to just hit those filthy “1 percenters,” you know, the ones who earned fortunes through their inventiveness and hard work. They thought the free ride would continue forever.
CARTOON OF THE DAY