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Cut, Cap, And Balance
The proposed Cut, Cap and Balance Act of 2011 () was a bill put forward in the 112th United States Congress by Republicans during the 2011 U.S. debt ceiling crisis. The provisions of the bill included a cut in the total amount of federal government spending, a cap on the level of future spending as a percentage of GDP, and, on the condition that Congress pass certain changes to the U.S. Constitution, an increase in the national debt ceiling to allow the federal government to continue to service its debts. The bill had the support of Republicans and much of the Tea Party movement. It passed the U.S. House of Representatives on July 19, 2011, but was rejected by the President and the Senate. The Senate voted to table the bill on July 22. President Obama had promised to veto the bill had it proceeded further. History The House passed the bill on July 19, 2011 by a vote of 234-190 and the bill was sent to the Senate for consideration. The vote split mostly on political party lines wit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
112th United States Congress
The 112th United States Congress was a meeting of the legislative branch of the United States federal government, from January 3, 2011, until January 3, 2013. It convened in Washington, D.C. on January 3, 2011, and ended on January 3, 2013, 17 days before the end of the presidential term to which Barack Obama was elected in 2008. Senators elected to regular terms in 2006 completed those terms in this Congress. This Congress included the last House of Representatives elected from congressional districts that were apportioned based on the 2000 census.Senate Calendar for January 20, 2012 In the 2010 midterm elections, the |
United States Debt-ceiling Crisis Of 2011
The 2011 United States debt-ceiling crisis was a stage in the ongoing political debate in the United States Congress about the appropriate level of government spending and its effect on the national debt and deficit. The debate centered on the raising of the debt ceiling, which is normally raised without debate. The crisis led to the passage of the Budget Control Act of 2011. The Republican Party, which had retaken the House of Representatives the prior year, demanded that President Obama negotiate over deficit reduction in exchange for an increase in the debt ceiling, the statutory maximum of money the Treasury is allowed to borrow. The debt ceiling had routinely been raised in the past without partisan debate or additional terms or conditions. This reflects the fact that the debt ceiling does not prescribe the amount of spending, but only ensures that the government can pay for the spending to which it has already committed itself. Some use the analogy of an individual "pa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross Domestic Product
Gross domestic product (GDP) is a money, monetary Measurement in economics, measure of the market value of all the final goods and services produced and sold (not resold) in a specific time period by countries. Due to its complex and subjective nature this measure is often revised before being considered a reliable indicator. List of countries by GDP (nominal) per capita, GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation, inflation rates of the countries; therefore, using a basis of List of countries by GDP (PPP) per capita, GDP per capita at purchasing power parity (PPP) may be more useful when comparing standard of living, living standards between nations, while nominal GDP is more useful comparing national economies on the international market. Total GDP can also be broken down into the contribution of each industry or sector of the economy. The ratio of GDP to the total population of the region is the GDP per capita, p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Public Debt
The national debt of the United States is the total national debt owed by the federal government of the United States to Treasury security holders. The national debt at any point in time is the face value of the then-outstanding Treasury securities that have been issued by the Treasury and other federal agencies. The terms "national deficit" and "national surplus" usually refer to the federal government budget balance from year to year, not the cumulative amount of debt. In a deficit year the national debt increases as the government needs to borrow funds to finance the deficit, while in a surplus year the debt decreases as more money is received than spent, enabling the government to reduce the debt by buying back some Treasury securities. In general, government debt increases as a result of government spending and decreases from tax or other receipts, both of which fluctuate during the course of a fiscal year. There are two components of gross national debt: * "Debt held ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tea Party Movement
The Tea Party movement was an American fiscally conservative political movement within the Republican Party that began in 2009. Members of the movement called for lower taxes and for a reduction of the national debt and federal budget deficit through decreased government spending. It urges the return of government as intended by some of the Founding Fathers. It also seeks to teach its view of the Constitution and other founding documents. Scholars have described its interpretation variously as originalist, popular, or a unique combination of the two. Reliance on the Constitution is selective and inconsistent. Adherents cite it, yet do so more as a cultural reference rather than out of commitment to the text, which they seek to alter. Two constitutional amendments have been targeted by some in the movement for full or partial repeal: the 16th that allows an income tax, and the 17th that requires popular election of senators. There has also been support for a proposed Repea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States House Of Representatives
The United States House of Representatives, often referred to as the House of Representatives, the U.S. House, or simply the House, is the Lower house, lower chamber of the United States Congress, with the United States Senate, Senate being the Upper house, upper chamber. Together they comprise the national Bicameralism, bicameral legislature of the United States. The House's composition was established by Article One of the United States Constitution. The House is composed of representatives who, pursuant to the Uniform Congressional District Act, sit in single member List of United States congressional districts, congressional districts allocated to each U.S. state, state on a basis of population as measured by the United States Census, with each district having one representative, provided that each state is entitled to at least one. Since its inception in 1789, all representatives have been directly elected, although universal suffrage did not come to effect until after ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barack Obama
Barack Hussein Obama II ( ; born August 4, 1961) is an American politician who served as the 44th president of the United States from 2009 to 2017. A member of the Democratic Party, Obama was the first African-American president of the United States. He previously served as a U.S. senator from Illinois from 2005 to 2008 and as an Illinois state senator from 1997 to 2004, and previously worked as a civil rights lawyer before entering politics. Obama was born in Honolulu, Hawaii. After graduating from Columbia University in 1983, he worked as a community organizer in Chicago. In 1988, he enrolled in Harvard Law School, where he was the first black president of the '' Harvard Law Review''. After graduating, he became a civil rights attorney and an academic, teaching constitutional law at the University of Chicago Law School from 1992 to 2004. Turning to elective politics, he represented the 13th district in the Illinois Senate from 1997 until 2004, when he ran for the U ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ron Paul
Ronald Ernest Paul (born August 20, 1935) is an American author, activist, physician and retired politician who served as the U.S. representative for Texas's 22nd congressional district from 1976 to 1977 and again from 1979 to 1985, as well as for Texas's 14th congressional district from 1997 to 2013. On three occasions, he sought the presidency of the United States: as the Libertarian Party nominee in 1988 and as a candidate for the Republican Party in 2008 and 2012. A self-described constitutionalist, Paul is a critic of the federal government's fiscal policies, especially the existence of the Federal Reserve and the tax policy, as well as the military–industrial complex, the war on drugs, and the war on terror. He has also been a vocal critic of mass surveillance policies such as the USA PATRIOT Act and the NSA surveillance programs. In 1976, Paul formed the Foundation for Rational Economics and Education (FREE), and in 1985 was named the first chairman of the conse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michele Bachmann
Michele Marie Bachmann (; née Amble; born April 6, 1956) is an American politician who was the U.S. representative for from 2007 until 2015. A member of the Republican Party, she was a candidate for President of the United States in the 2012 election, but lost the Republican nomination to Mitt Romney. Born in Waterloo, Iowa, Bachmann moved to Brooklyn Park, Minnesota, as a teenager. She graduated from O. W. Coburn School of Law, the law school of Oral Roberts University, and the William & Mary Law School. After graduating, she briefly worked in tax law for the Internal Revenue Service before becoming a stay-at-home mom. She became involved in local politics, specifically around education. Bachmann formally entered politics in 2000, when she was elected to the Minnesota Senate. In 2006, she was elected to the U.S. House of Representatives. After her unsuccessful run for president, Bachmann was elected to another term in the House in 2012, before announcing her retirement ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Patient Protection And Affordable Care Act
The Affordable Care Act (ACA), formally known as the Patient Protection and Affordable Care Act and colloquially known as Obamacare, is a landmark U.S. federal statute enacted by the 111th United States Congress and signed into law by President Barack Obama on March 23, 2010. Together with the Health Care and Education Reconciliation Act of 2010 amendment, it represents the U.S. healthcare system's most significant regulatory overhaul and expansion of coverage since the enactment of Medicare and Medicaid in 1965. The ACA's major provisions came into force in 2014. By 2016, the uninsured share of the population had roughly halved, with estimates ranging from 20 to 24 million additional people covered. The law also enacted a host of delivery system reforms intended to constrain healthcare costs and improve quality. After it went into effect, increases in overall healthcare spending slowed, including premiums for employer-based insurance plans. The increased coverage was due ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harry Reid
Harry Mason Reid Jr. (; December 2, 1939 – December 28, 2021) was an American lawyer and politician who served as a United States senator from Nevada from 1987 to 2017. He led the Senate Democratic Caucus from 2005 to 2017 and was the Senate Majority Leader from 2007 to 2015. After earning an undergraduate degree from Utah State University and a law degree from George Washington University, Reid began his public career as the city attorney for Henderson, Nevada, before being elected to the Nevada Assembly in 1968. Gubernatorial candidate Mike O'Callaghan, Reid's former boxing coach, chose Reid as his running mate in 1970; following their victory Reid served as the 25th lieutenant governor of Nevada from 1971 to 1975. After being defeated in races for the United States Senate and mayor of Las Vegas, Reid served as chairman of the Nevada Gaming Commission from 1977 to 1981. From 1983 to 1987, Reid represented Nevada's 1st district in the United States House of Representa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balanced Budget Amendment
A balanced budget amendment is a constitutional rule requiring that a state cannot spend more than its income. It requires a balance between the projected receipts and expenditures of the government. Balanced-budget provisions have been added to the constitutions of Germany, Hong Kong, Italy, Poland, Slovenia, Spain and Switzerland, among others, as well as to the constitutions of most U.S. states. In the United States, the Republican Party has advocated for the introduction of a balanced budget amendment to the United States Constitution. Balanced budget amendments are defended with arguments that they reduce deficit spending and constrain politicians in making irresponsible short-term spending decisions when they are in office. Research shows that balanced budget amendments lead to greater fiscal discipline. However, there is substantial agreement among economists that ''strict annual'' balanced budget amendments have harmful near-term economic effects. In times of recessio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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