Friday, August 28, 2009

A few observations on the economy

I want to set a few facts straight here.  First,  President Obama is quite sincere when he says he will not raise our taxes by one cent.   The U. S. Constitution says that "All  bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills."   US Presidents can and usually do propose legislation to Congress for their approval.   They can hit the campaign trail and try to raise voter support to their proposed bills.   They can hold press conferences  and media appearances to urge, support, cajole or whatever they believe necessary to get their proposed legislation approved by Congress.  They also have the right to veto any proposed bills and return them to Congress.   Congress then has the option to amend the bill to appease the President or hold a second vote in hopes of getting enough votes to override the veto.   Congress also has the option to let their proposed bills die on the vine.  
In summary, when our taxes go up in the future to cover all the funds given away in the name of economic stimulus and recovery, it will be the Congress that passes the legislation.  The President will only be able to veto the bills or sign off on them as law.  
More fact straightening to come soon.

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