President Barack Obama has signed into law the bill to avert the fiscal cliff.
The new law preserves the Bush-era tax cuts for individuals earning less than $400,000 and couples making less than $450,000 per year, and extends unemployment benefits.
The Senate passed the bill Tuesday morning and the House passed it Tuesday night.
The White House received a copy of the bill late Wednesday afternoon, a senior administration official told CNN. Obama, on vacation with his family in Hawaii, directed the bill be signed by autopen.
How they voted: House | Senate
Is the autopen legal? Read the Justice Department's opinion (pdf).
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BIGGEST SPENDERS SINCE 1961 IN AVERAGE ANNUAL PERCENTAGE INCREASE OF THE DEBT
1. Reagan – R
2. Ford – R
3. G HW Bush – R
4. Obama – D
5. Carter – D
6. GW Bush – R
7. Nixon – R
8. Clinton – D
9. JFK – D
10. Johnson – D
The averages. For the Democrats, average 6.9% a year increase in debt.
For the Republicans, average 13.9% a year increase in debt.
THE REPUBLICANS ON AVERAGE INCREASE OUR DEBT TWICE WHAT DEMOCRATS DO. YET WHEN IT'S HAPPENING, YOU NEVER HEAR ANYTHING ABOUT IT. WHEN A DEMOCRAT SPENDS AT A RATE MUCH LESS, THEY WHINE LIKE CRAZY.
So both parties increase spending each year. Who will DECREASE it? There has to be a better party...
look, another lost soul who has to break everything down into left vs right.
Get a clue.
slavery by consent < youtube it.
Elmer T. Peterson in The Daily Oklahoman (9 December 1951): "A democracy cannot exist as a permanent form of government. It can only exist until the majority discovers it can vote itself largess out of the public treasury. After that, the majority always votes for the candidate promising the most benefits with the result the democracy collapses because of the loose fiscal policy ensuing, always to be followed by a dictatorship, then a monarchy."
How is George W only 6th?
America- my country-my people-forever. Goodness of american people will prevail mary
Did he even read it?
Silly boy. You have to sign it first. Then you can read it.
and everyone looses. everyone has to pay more taxes from this month. whats there to cheer in that?
Loose what? Loose bowels perhaps. Learn to speak English.
"We are going to ban all earmarks.”
Who said that?
President Barack Obama and goverment got there wish the poor dont get nothing rise everthing gave to the rich one getting everthing they want rise milk why u really hate kid and famliy trying make a living i wish u walk in my shoe for 1 year
You, and people like you are the reason our country is so screwed up. It has nothing to do with the President or congress...its YOU
To,All of the people just talking crap and complaing i challenge you to please post your amazing plans to save america. Ready,set,go!
Not sure why you guys are so happy, how can this bill help *middle class*?
payroll tax increase is 2%, the top bracket increase is only 3.x, and that's only for income exceed 450k.
so this bill's tax increase hit HARDEST on middle class, not super rich, not the poor, but MIDDLE CLASS TAX PAYER who rely on salary not welfare or capital gain.
this deal is really worse than no deal because at lease no deal would help cut spending.
What cliff is this again, the one made up by lib media for drama, let's see no bill, higher taxes (more money) spending cuts (more money) free loaders have to get jobs (more money). Now we have less money, less workers, less of a future, yeah we are way better off.
Obama is an ass. He is the reason we are in such a mess. Biden is a puppet and a dork. You people voted this idiot back into office. You are asses too.
Gee I wonder who all the "rich" people are going to pass the costs on to? Let me guess................
Whats the use in common sense if no one uses it??
So it passed Tuesday, but only got to the White House (just down the road) on Wednesday afternoon, meaning that Obama had to sign it via autopen after he had already left for his holiday? I have to ask why it takes so long for such an important bill to be delivered to the White House?
It's the same lack of efficiency that resulted in the leaders only meeting face-to-face a handful of times until right before the deadline.
Things could have been much worse had Romney been president. the top 2 % would have gotten big tax breaks while they would have deeply cut medicaid or turn it over to states to deal with, vouchorize medicare. and then raised the age for full social security benefits.. Fortunately the Democratic controlled Senate could hold those changes in check.