Well, the sheeple have spoken.

By: hcubed , 3:16 PM GMT on November 07, 2012

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303 Obama, 206 Romney.

Since 538 were available, that means FL hasn't been called for either one. Could still go 303/235

Votes still being processed in a few states:

Example, as of now, Obama leads Romney by 46,039 in the state of FL. Those 29 are still up in the air.

So what do the people get?

Four more years.

Are there any silver linings?

A few.

1. Presidents are limited to two terms. So this will be, good or bad, Obama's last term (god help us).

2. In 2016, the states will have gotten wiser, and will finally straighten out the voter ID battle.

3. We can finally put the "blame Bush for everything" idea to rest. This term Obama has his first term to overcome. Can't blame the debt or deficits on Bush, can he?

4. The House still is being held by Republicans, and there is no super majority in the Senate. You thought you've seen a stalemate before? Watch these next two years carefully. In 2014, we'll see who holds Congress then.

5. We'll see the results of an experiment - what would have happened if Carter had gotten a second term? We're about to find out.

There are people out there that don't understand some things about the Congress. Certain things that either have to start in the House, or be confirmed by the House (such as raising the debt ceiling).

The big one? Article I, Section 7 states that all revenue bills shall originate in the House of Representatives (Appropriations bills, the budget, taxation).

Bills, for example that fund Obamacare.

Obama doesn't control the House (thank god).

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3. WunderAlertBot (Admin)
12:04 AM GMT on November 09, 2012
hcubed has created a new entry.
2. hcubed
6:21 PM GMT on November 07, 2012
Stocks drop 300 points, with banks and energy stocks leading the way.

Obama has said he will reject any proposal that doesn't include tax hikes on the wealthy, so we see the same kind of contention that we saw during the debt ceiling battle that eventually led to a downgrade by Standard and Poor's.

If lawmakers fail to address the simultaneous onset of tax hikes and spending cuts that will be triggered on Jan. 1, they risk throwing the U.S. economy back into a recession and drive unemployment up even higher.

There are only about 10 legislative days left.

And people affected by the possible sequester still haven't gotten their notice - letting them know pink slips could be coming.

Obama wanted those noticies to go out AFTER the election. Let's see if they follow through.
Member Since: May 18, 2007 Posts: 289 Comments: 1639
1. hcubed
4:33 PM GMT on November 07, 2012
Thet say there are six looming problems for our returning champion (from MSNBC):

1. Automatic spending cuts - "...Congress passed and Obama signed into law the 2011 Deficit Control Act which will cut more than $100 billion in outlays in 2013, starting in January. These cuts were intended to be so unpalatable that they’d spur Congress and the president to strike a deficit reduction deal, but the plan seems about to backfire. Congress and the president in 2013 will be getting more deficit reduction than they really want. The director of the Congressional Budget Office, Douglas Elmendorf, said in August that the cuts in spending, combined with scheduled increases in taxes at the year's end would cause “a significant tightening of fiscal policy” which would “probably lead to a recession early next year.”..."

And with the House/Senate split, don't expect much to be done here.

2. Taxes going up, by a significant amount (and not just on the rich) - "...The current income tax rates expire on Dec. 31. A popular middle-class tax break, the $1,000-per-child tax credit for each child age 17 and younger, will be cut in half unless Congress and the president take action before the end of the year. The temporary reduction in the Social Security payroll tax is also set to expire. As a result of all this, according to the Tax Policy Center, the average tax burden will increase by almost $3,500 per taxpayer in 2013. In addition, the Affordable Care Act, starting on Jan. 1, imposes a $20 billion tax increase in 2013 on people with incomes above $200,000, or $250,000 for joint filers..."

Key phrase - "...unless Congress and the president take action before the end of the year..."

54 days to the end of the year, three holidays. Don't expect much here, either.

3. Debt limit - "...According to the Bipartisan Policy Center, by sometime in February the federal government will reach its borrowing limit, even with the use of extraordinary stopgap accounting measures by the Treasury Department to push back that date. The House Republicans only very reluctantly voted to raise the debt limit in 2011 after the impasse between Obama and the House GOP over debt had severely shaken the confidence of investors in U.S. financial markets. The new House may be even more resistant to a debt ceiling increase with Obama winning a second term..."

Maybe we'd be better off without spending so much - maybe.

4. Confirmation of pivotal Cabinet members and regulatory chiefs - "...After securing a second term, Obama will, at a minimum, need to nominate a new Treasury Secretary to replace outgoing Tim Geithner and a new secretary of state to replace Hillary Clinton. Depending on the mood and membership of the Senate, the nomination hearings could prove contentious. Obama will also need to win Senate confirmation for those nominees selected to fill 82 judicial vacancies..."

There is a Democratic majority - 51D/45R/2 other/2 still voting.

But remember the term "cloture". Needs 60 votes. Will need 9 non-D votes. Might be a problem.

5. Implementing the Affordable Care Act and appointing the members of the Independent Payment Advisory Board - "...The administrative mechanism to carry out “Obamacare” needs to be designed, refined and run. Congressional Republicans are especially hostile to the Independent Payment Advisory Board, an outside body of experts, picked by the president, which is supposed to propose cuts in Medicare spending, with those cuts getting special fast-track consideration in Congress. So far Obama has appointed none of IPAB’s 15 members. Those nominees will be subject to Senate confirmation..."

Again: "...The administrative mechanism to carry out “Obamacare” needs to be designed, refined and run...". They forgot to add "and funded". House controls that side - especiallty since it involves taxes or changes to the tax code.

And about that Senate confirmation - cloture again.

All of the above is just the gov't stuff. The world goes on.

6. "...Chaos in Syria, WMD – and don't forget Iran
The phrase “weapons of mass destruction” may have gone out of fashion after U.S. forces failed to find any in Iraq after they invaded in 2003, but there’s no dispute that the Syrian regime does possess a large arsenal of chemical weapons, including nerve gas. Some of those weapons and ingredients might go missing as the civil war grinds on. Meanwhile Syria’s ally Iran has carried on work to build nuclear weapons and is not cooperating with the UN’s International Atomic Energy Agency which is trying to find out more about the Iranians’ secret research..."

Do we draw out the troops, leave them in, support Israel - questions, questions.

One thing that some people may have noticed - still nothing about CAGW.

Well, maybe the next election, when the concerns of the people matter again.

The EPA is preparing laws to totally gut the coal industry - at a time of high unemployment, with a recession looming, taxes rising - good timing, eh?
Member Since: May 18, 2007 Posts: 289 Comments: 1639

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About hcubed

Living in Biloxi MS, have been here since '85 (first Hurricane was Elena).