Republicans Take $222 Million from SEC and Give it Back to Wall Street

Trench

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The Republican controlled House Appropriations Committee slashed $222.5 million from the SEC's fiscal 2012 budget and the best part is it won't save taxpayers a dime. Not only that, it will most likely cost the Treasury millions in lost fines and penalties.

You see, the SEC isn't financed by tax revenue. It's financed by fees levied on those it regulates and this was another way for Republicans to put some SEC funding back in the pockets of Wall Street bankers.

Way to go Republicans! Keep showing us who you really work for. :0074

http://www.nytimes.com/2011/07/16/b...ec-reduce-its-effectiveness.html?ref=business
 

Duff Miver

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Right behind you
Chuck Berry of "Roll Over Beethoven" fame has a new hit out -

"Bend Over Taxpayers"

From France, 53 years ago. Eat your heart out Kieth Richards.

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Skulnik

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800 Days And $3.1 Trillion More In Debt, Sherrod Brown Still Hasn?t Passed A Budget

Posted by Christopher Maloney on July 08, 2011

Columbus ? As a candidate for the U.S. Senate in 2006, Obama?s left-hand man, Sherrod Brown, expressed his support for a balanced budget and attacked Republicans for their fiscal record in Washington. Ohio Republican Party Chairman Kevin DeWine released the following statement on this, the 800th day since the Democrat-led U.S. Senate has passed a budget:

?The economic recession has forced Ohio households and small businesses to put together a budget and live within their means, yet Obama?s left hand man, Sherrod Brown, apparently doesn?t believe the federal government should be held to the same rules in Washington,? Chairman Kevin DeWine stated.

?Failing to pass a federal budget for 800 days proves that Sherrod Brown is shirking his most basic responsibility as a public servant. It?s an insult to Ohio taxpayers that Sherrod Brown has willfully used our money to fund his spending addiction without keeping our nation?s fiscal house in order."



Background Information:

As Democrats continue to spend, Americans are still waiting for their budget:

Former DNC Chair Claims It?s ?A Serious Problem?. ?Kaine responded to Welch?s gripe about the lack of a budget. ?This is a very serious problem with Washington and the legislative area not doing what it needs to do. I was a governor of Virginia, we passed budgets.?? (Michael O?Brien, ?Kaine: It's a 'major problem' that Senate Dems haven't passed a 2012 budget,? The Hill, 6/13/11)

Commentators Called It A ?Dereliction of Duty?. ?Although there?s general agreement that the most pressing issue facing the federal government is its runaway finances, the Democrat-controlled Senate hasn?t passed a budget in 762 days, a new standard for dereliction of duty? (Dana Milbank, Op-Ed, ?Congress clocks in to clock out,? Washington Post, 5/31/11)

Democrats Are ?Ducking Their Responsibility?. ?Senate Majority Leader Harry Reid said it would be ?foolish? for Democrats to propose their own federal budget for 2012, despite continued attacks from Republicans that the party is ducking its responsibility to put forward a solution to the nation's deficit problems.? (Lisa Mascaro, ?Harry Reid: ?Foolish? for Democrats to offer budget plan,? 5/20/11)

Democrats Don?t View The Lack Of A Budget As a Problem. ?Sen. Charles Schumer (D-N.Y.) downplayed the lack of a Democratic budget proposal Monday, saying there?s simply no room to deal with an alternative until the Senate has voted on the House GOP?s controversial proposal.? (Sam Baker, ?Schumer: Alternatives to Ryan budget 'not the point',? The Hill, 5/23/11)

Since the Democrat-controlled Senate last passed a budget, the federal debt has risen by an additional $3.1 trillion:
?On April 27, 2009, The National Debt Was $11.2 Trillion. (Treasury Direct Website, www.treasurydirect.gov, Accessed 7/8/11)
?Today, The National Debt Is Over $14.3 Trillion. (Treasury Direct Website, www.treasurydirect.gov, Accessed 7/8/11)



As A Candidate For the Senate In 2006, Sherrod Brown Expressed Support For A Federal Balanced Budget:

BROWN: ?I Stood Up To A President Of My Own Party?In Support Of The Balance Budget Amendment, In Restoring Fiscal Sanity To Our Government. I agree with Senator Voinovich that Mike DeWine and others have betrayed conservative principles of limited government. I want to go to the Senate and work with Senator Voinovich on sound tax policy that benefits the middle class, without burying our grandchildren in debt.? (Ohio Senate Debate, City Club Of Cleveland, http://www.c-spanvideo.org/program/OhioSenateDebate, 10/27/06)

Video of Brown?s Statement: http://www.youtube.com/watch?v=DrZUjnugRos



However Brown Has Repeatedly Voted To Max Out Our National Credit Card Time And Again:

In the Senate Brown Voted to Raise the Nation?s Debt Ceiling 5 Times. (PL 110-289 ? 7/30/08; PL 110-343 ? 10/3/08; PL 111-5 ? 2/17/09; PL 111-123 ? 12/28/09; PL 111-139 ? 2/12/10)

Brown?s 5 Debt Ceiling Increase Votes Raised the Nation?s Debt from $10.6 Trillion to $14.3 Trillion ? an Increase of $3.7 Trillion. (PL 110-289 ? 7/30/08; PL 110-343 ? 10/3/08; PL 111-5 ? 2/17/09; PL 111-123 ? 12/28/09; PL 111-139 ? 2/12/10)
 

The Sponge

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800 Days And $3.1 Trillion More In Debt, Sherrod Brown Still Hasn?t Passed A Budget

Posted by Christopher Maloney on July 08, 2011

Columbus ? As a candidate for the U.S. Senate in 2006, Obama?s left-hand man, Sherrod Brown, expressed his support for a balanced budget and attacked Republicans for their fiscal record in Washington. Ohio Republican Party Chairman Kevin DeWine released the following statement on this, the 800th day since the Democrat-led U.S. Senate has passed a budget:

?The economic recession has forced Ohio households and small businesses to put together a budget and live within their means, yet Obama?s left hand man, Sherrod Brown, apparently doesn?t believe the federal government should be held to the same rules in Washington,? Chairman Kevin DeWine stated.

?Failing to pass a federal budget for 800 days proves that Sherrod Brown is shirking his most basic responsibility as a public servant. It?s an insult to Ohio taxpayers that Sherrod Brown has willfully used our money to fund his spending addiction without keeping our nation?s fiscal house in order."



Background Information:

As Democrats continue to spend, Americans are still waiting for their budget:

Former DNC Chair Claims It?s ?A Serious Problem?. ?Kaine responded to Welch?s gripe about the lack of a budget. ?This is a very serious problem with Washington and the legislative area not doing what it needs to do. I was a governor of Virginia, we passed budgets.?? (Michael O?Brien, ?Kaine: It's a 'major problem' that Senate Dems haven't passed a 2012 budget,? The Hill, 6/13/11)

Commentators Called It A ?Dereliction of Duty?. ?Although there?s general agreement that the most pressing issue facing the federal government is its runaway finances, the Democrat-controlled Senate hasn?t passed a budget in 762 days, a new standard for dereliction of duty? (Dana Milbank, Op-Ed, ?Congress clocks in to clock out,? Washington Post, 5/31/11)

Democrats Are ?Ducking Their Responsibility?. ?Senate Majority Leader Harry Reid said it would be ?foolish? for Democrats to propose their own federal budget for 2012, despite continued attacks from Republicans that the party is ducking its responsibility to put forward a solution to the nation's deficit problems.? (Lisa Mascaro, ?Harry Reid: ?Foolish? for Democrats to offer budget plan,? 5/20/11)

Democrats Don?t View The Lack Of A Budget As a Problem. ?Sen. Charles Schumer (D-N.Y.) downplayed the lack of a Democratic budget proposal Monday, saying there?s simply no room to deal with an alternative until the Senate has voted on the House GOP?s controversial proposal.? (Sam Baker, ?Schumer: Alternatives to Ryan budget 'not the point',? The Hill, 5/23/11)

Since the Democrat-controlled Senate last passed a budget, the federal debt has risen by an additional $3.1 trillion:
?On April 27, 2009, The National Debt Was $11.2 Trillion. (Treasury Direct Website, www.treasurydirect.gov, Accessed 7/8/11)
?Today, The National Debt Is Over $14.3 Trillion. (Treasury Direct Website, www.treasurydirect.gov, Accessed 7/8/11)



As A Candidate For the Senate In 2006, Sherrod Brown Expressed Support For A Federal Balanced Budget:

BROWN: ?I Stood Up To A President Of My Own Party?In Support Of The Balance Budget Amendment, In Restoring Fiscal Sanity To Our Government. I agree with Senator Voinovich that Mike DeWine and others have betrayed conservative principles of limited government. I want to go to the Senate and work with Senator Voinovich on sound tax policy that benefits the middle class, without burying our grandchildren in debt.? (Ohio Senate Debate, City Club Of Cleveland, http://www.c-spanvideo.org/program/OhioSenateDebate, 10/27/06)

Video of Brown?s Statement: http://www.youtube.com/watch?v=DrZUjnugRos



However Brown Has Repeatedly Voted To Max Out Our National Credit Card Time And Again:

In the Senate Brown Voted to Raise the Nation?s Debt Ceiling 5 Times. (PL 110-289 ? 7/30/08; PL 110-343 ? 10/3/08; PL 111-5 ? 2/17/09; PL 111-123 ? 12/28/09; PL 111-139 ? 2/12/10)

Brown?s 5 Debt Ceiling Increase Votes Raised the Nation?s Debt from $10.6 Trillion to $14.3 Trillion ? an Increase of $3.7 Trillion. (PL 110-289 ? 7/30/08; PL 110-343 ? 10/3/08; PL 111-5 ? 2/17/09; PL 111-123 ? 12/28/09; PL 111-139 ? 2/12/10)

skully why don't u start another thread with this stuff so people can comment on it? Then would u please comment on why the Republicans pulled this nonsense that Trench posted? Yesterday u said it was Wall Street and the Bankers who were the problem. Why did the Republicans find a need to give Wall Street more money?
 

ssd

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Good point, Sponge.

Take money out of politics and we will have an honest govt.


I hate this bullshit.


As for Sherrod Brown, I am ashamed to call him an Ohioan.


Anyway - kinda hard to figure out how to spend your cash, where to cut, etc when you do not have a budget.
 

Trench

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This move by the Republicans had nothing to do with decreasing the budget deficit (it won't) or downsizing government. It was all about striking back at Obama's financial reforms and sending a message to Wall Street that "We're the good guys and we're on your side", regardless of the consequences.

It's not that financial reforms will do much. They won't. Because until these pin-striped thieves start going to jail, nothing will change. Fines have no effect on them and the fines are usually payed by their firms anyway. And as long as there's money to be siphoned from the middle-class, these Wall Street banksters will continue to devise schemes to seperate middle-class Americans from their savings, their 401K's, their pensions, their home equity and their paychecks.
 
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