Posted 2 years ago on Oct. 16, 2012, 12:54 p.m. EST by OldCrow
This content is user submitted and not an official statement
The push for a post-election budget agreement is taking place against the backdrop of the so-called “fiscal cliff,” a series of measures due to be enacted on January 1, 2013 should Congress fail to pass a deficit-reduction plan by the end of the year… The prospect of these spending cuts and tax increases taking effect at the New Year is being used to create a crisis atmosphere which the Democrats and Republicans and the media will use to justify an intensification of attacks on the living standards of the...[middle] class.
Bipartisan Senate deficit deal to cut Medicare, slash taxes for the wealthy
By Bryan Dyne and Barry Grey 12 October 2012
A speech given Tuesday to the National Press Club by Charles Schumer, Democratic senator from New York, sheds further light on the anti-working class character of a federal deficit-cutting deal being worked out in secret, with the backing of the Obama administration, by a group of four Democratic and four Republican senators.
The discussions by the so-called “Gang of Eight” underscore the undemocratic character of the elections. Behind closed doors, with the support of the leadership of both big business parties, plans are being laid to impose unprecedented cuts in basic social programs such as Medicare, Medicaid, Social Security and food stamps, along with further tax cuts for corporations and the wealthy. The aim is to reach an agreement that will be passed after the elections by the so-called “lame duck” Congress (whose term will expire at the beginning of January) for austerity measures and tax cuts for the rich. These measures are not being discussed by either presidential candidate or either party in the election campaign. They are to be put in place regardless which party controls the White House and Congress, with the electorate denied any opportunity in the elections to express its attitude to them. Schumer is not part of the “Gang of Eight,” but as the third-ranking Democrat in the Senate, a member of the Senate Finance Committee, and one of Congress’ biggest recipients of campaign funds from Wall Street, he has intimate knowledge of the group’s discussions. In his speech, he made clear that the Democratic Party has agreed to major cuts in basic entitlement programs such as Medicare and that the budget plan currently being worked out includes cuts in both corporate tax rates and personal income tax rates for the wealthy…