519. The Fiscal Cliff Hanger

“Fiscal cliff” is the popular shorthand term used to describe the conundrum that the U.S. government will face at the end of 2012, when the terms of the Budget Control Act of 2011 are scheduled to go into effect.
Among the laws set to change at midnight on December 31, 2012, are the end of last year’s temporary payroll tax cuts (resulting in a 2% tax increase for workers), the end of certain tax breaks for businesses, shifts in the alternative minimum tax that would take a larger bite, the end of the tax cuts from 2001-2003, and the beginning of taxes related to President Obama’s health care law. At the same time, the spending cuts agreed upon as part of the debt ceiling deal of 2011 will begin to go into effect. According to Barron's, over 1,000 government programs - including the defense budget and Medicare are in line for "deep, automatic cuts."
(tags: Political Series, economy, president, congress, Barack Obama, Economics, money, taxes, laws, Health Care, House of Representatives, Senate, America, United States)

353. Nancy Pelosi: Speaker of the House Minority Leader

WASHINGTON, D.C. — House Democrats elected Nancy Pelosi to remain as their leader despite massive party losses in this month's congressional elections that prompted some lawmakers to call for new leadership. Pelosi, the nation's first female House speaker, will become minority leader when Republicans assume the majority in the new Congress in January, 2011. (read more http://alturl.com/kjtz6)

347/241. 2010 Mid-Term Election

2010 MIDTERM ELECTION

(tags: Election, 2010, Midterm, Obama, Smiley Face, Political Series, Entertainment Series, Republican, Democrat, GOP,  Senate, House of Representatives,  Congress, Washington, DC,  The Sceam,  Munch)

268. Health Care Reform Bill Passes House of Representatives