Extending the Bush tax cuts for the wealthy and lowering the deficit is House Republicans' "agenda." Unfortunately for Republicans, today House Republican Whip Eric Cantor admitted what we have long known -- extending the Bush tax cuts for the wealthy increases the deficit by $678 billion.
While on MSNBC’s Morning Rundown, Republican Whip Eric Cantor admitted that extending the Bush tax cuts would actually increase the deficit. Cantor was asked "will you just simply acknowledge that passing these tax cuts worsens the budget deficit problem? I mean, you can't deny that, right?" After being pressed to answer the question, Cantor admitted, "Certainly, you're going to dig the hole deeper."
GUTHRIE: ...will you just simply acknowledge that passing these tax cuts worsens the budget deficit problem? I mean, you can't deny that, right?
CANTOR: Savannah, let's look at it through the prism of the working families who are seeking jobs and the small businesspeople who are creating them. It's not -- it's not a tax cut they're looking for, they don't want a tax hike.
GUTHRIE: But that wasn't my question. [...]
GUTHRIE: I just was wondering if you had a — if you had any dispute with the notion that it does exacerbate the deficit picture.
CANTOR: What I — what I said in the beginning is, um, if you have less revenues coming into the federal government, and more expenditures, what does that add up to? Certainly you're gonna dig the hole deeper. But you also have to understand, if the priority is to get people back to work, is to start growing this economy again, uh, then you don't wanna make it more expensive for job creators. You don't wanna hike their taxes so that they won't hire people. I mean, that's the fundamental decision here. Do you wanna make it more expensive for small businesspeople right now, and no, I don't think you do.
The Democratic Congressional Campaign Committee announced today that Cedric Richmond (LA-02) has earned a place in the DCCC's highly competitive Red to Blue program. The addition of Cedric Richmond brings the total number of candidates on the DCCC's Red to Blue program so far this cycle to 27. Richmond has qualified for Red to Blue by running the strongest campaign to defeat his Republican opponent, by showing strong early fundraising, and by demonstrating that he will represent his district on critical issues like job creation and health insurance reform.
"Cedric Richmond has come out of the gate strong and built a lot of early excitement for his campaign to put this seat in the hands of someone who reflects this district and supports President Obama. Red to Blue will give him the financial and structural edge he needs to remain on the road to victory in November and ensure the people of this New Orleans based district are represented by someone who shares their values," said DCCC Chairman Chris Van Hollen. "As Cedric Richmond continues making his case to voters back home that he will work to create jobs and will stand with President Obama on critical issues like health insurance reform, we look forward to giving him the extra boost he needs to win in November."
The CBC PAC is supporting Cedric Richmond’s campaign.
The Red to Blue Program
Since 2004, the Red to Blue program has been a proven success for House Democrats in winning Republican-held seats.
The Red to Blue program highlights top Democratic campaigns across the country and offers them financial, communications, grassroots, and strategic support. The program introduces Democratic supporters to new competitive candidates in order to help expand the fundraising bases for these campaigns.
Yesterday, major Texas Republican contributors Samuel and Charles Wyly were charged with using secret overseas accounts for the last 13 years to massively defraud the American taxpayers and reap more than half a billion dollars. The Wyly brothers are closely connected to Karl Rove and the Bush family, both directly and through the Swift Boat Veterans. In light of yesterday’s news about the Wyly brothers $550 million fraud and their past with shady Republican groups, Karl Rove must come clean about the Wyly’s participation in American Crossroads GPS.
“Karl Rove’s American Crossroads has been raising millions of dollars from secret Republican sources. With the news of the Wyly’s $550 million fraud against American taxpayers, Karl Rove must come clean about how much of this shady Wyly money is being use to fund American Crossroads and their lies against Democrats,” said Jennifer Crider, spokesperson for the Democratic Congressional Campaign Committee. “Voters deserve to know if people who used overseas accounts for a half a billion fraud are funding shady right wing groups like Karl Rove’s American Crossroads.”
The Wyly brothers have a long history with President George H.W. Bush, President George W. Bush, and Karl Rove. The brothers have contributed thousands of dollars and raised President George W. Bush an additional $100,000. The brothers also contributed $200,000 to President George W. Bush’s inauguration. Additionally, using Karl Rove tactics, the Wyly brothers funded the Swift Boat Veterans in 2004, which directly helped President George W. Bush get reelected.
BACKGROUND
According to today’s Washington Post, two billionaire brothers in Texas, Sam and Charles Wyly have been accused in a complaint by the SEC of violating federal securities laws and committing fraud by using offshore accounts to secretly trade the shares of public companies whose boards they sat on, reaping more than $550 million in profit [Washington Post, 7/30/10]
Sam and Charles Wyly Funded Most Notorious 2000 Republican Group. “Sam and Charles Wyly -- the wealthy Dallas-based brothers who funded and ran ‘Republicans for Clean Air,’ a 527 group that attacked McCain for his environmental record during the 2000 primaries. In the aftermath of his defeat, McCain specifically cited the group in his plea for more and better campaign finance reform, saying the groups were ‘making a mockery of existing campaign finance laws.’” [Washington Post, 4/21/06]
Wyly Brothers Funded Swift Boat Veterans in 2004 Along with American Crossroads Donor Harold Simmons. Among the largest donors to the Swift Boat Veterans for Truth were the Wyly brothers and Harold Simmons, the Dallas billionaire who is bankrolling American Crossroads. [Bloomberg, 9/11/04; Los Angeles Times, 10/5/04; National Journal, 3/31/10]
Wyls Helped Bankroll Bush Inauguration. According to the New Republic, “Now the Wylys have found a still stealthier way to curry favor with the new administration: They each contributed $100,000 to Bush's presidential inaugural committee.” [The New Republic, 1/22/01]
Karl Rove’s Republican front group, American Crossroads, set up a separate committee to accept secret contributions to fund advertizing attacking Democrats. The CEO of Rove’s group conceded that the reason for creating American Crossroads GPS was to conceal the identity of donors who seek to influence the 2010 elections. [Politico, 7/20/10]
Speaker Pelosi just sent this message to DCCC supporters:
Friend --
This year, you helped lead the fight for historic health insurance reform and Wall Street reform for the American people.
Since America's progress would not be possible without Grassroots Democrats like you, as a special thank you, I wanted to give you and a guest the opportunity to join myself and President Obama at a dinner the evening of August 16th in Los Angeles.
The stakes could not be higher right now for the American people.
More than ever, Grassroots Democrats like you know your power. Republicans are claiming they have the momentum, but you and I know better. We will never stop fighting to move America forward.
Let's make history together again in these final critical months before November's elections. As President Obama says, "now is the season for action."
Please enter today -- you could be part of our historic gathering in Los Angeles and meet President Obama.
Sweepstakes Rules and Restrictions No purchase, payment, or contribution necessary to enter or win. Void where prohibited. Registered lobbyists, foreign agents and minors under the age of 16 are ineligible to win. Click here to enter without contributing.
Sweepstakes Information: You may enter by contributing. Alternatively, you may enter without making a contribution by clicking here and following the directions to enter. Entries must be received by 11:59 p.m. (ET) on August 9, 2010. Sweepstakes only open to citizens of the U.S. and lawful permanent U.S. residents who are residents of the 50 United States and District of Columbia and 18 or older (or of majority under applicable law). Prize consists of the following prize package: two round-trip airplane tickets from the major airport closest to your address within the continental U.S. to Los Angeles, CA, one night's hotel accommodations for two, and attend a dinner with special guest President Obama (approximate retail value $1,250). Winner's guest must be 18 or older (or of majority under applicable law) and meet other requirements as described in the Official Rules. Odds of winning depend on number of eligible entries received. Promotion is subject to Official Rules. Click here for full Official Rules and details. Sponsor: Democratic Congressional Campaign Committee.
Speaker Pelosi just sent this message to DCCC supporters:
Friend -- Thank you for helping Democrats surpass our grassroots goal for the crucial 100 Days Deadline. Your generous support has enabled us to begin the final 100 days of this election from a position of strength. I cannot thank you enough.
However, just as soon as word came of the contribution that put us over the top, we received news of a disturbing surge in Republican fundraising. House Republicans are now claiming to have had their strongest fundraising in five years.
I need your help to close the gap before the crucial July 31st FEC filing deadline to ensure that Democrats retain the momentum. As a special thank you for contributing today, you will receive an invitation to join DCCC Chairman Chris Van Hollen and me on a special Grassroots Strategy Call tomorrow at 2:30 pm EDT.
Democrats will keep control of the House this year and prevent a return to the catastrophic Republican policies of the past, so long as you continue standing with me every step of the way.
I look forward to updating you personally on our Wednesday strategy call and continuing our fight together to continue America's New Direction.
Barney Frank just sent this message to DCCC supporters:
Friend --
There they don't go again. Yet another time, Republicans refused to support a bill vital to the interests of our nation.
Last week, the President signed into law the most significant reform of Wall Street since the days of Franklin Roosevelt. We did it over the objections of the most powerful financial institutions in the country, big business groups, a legion of lobbyists, and almost every Republican in Congress.
The legislation contains the strongest package of consumer protections ever adopted at one time in the United States. It restricts predatory mortgage lending, eliminates hidden credit card fees, and establishes a new Consumer Financial Protection Agency.
Most importantly, it contains strong measures to prevent financial institutions from engaging in the high-risk practices which deeply damaged our economy and caused millions of Americans to lose their jobs and their homes.
And, remarkably, the Republicans opposed it. That's why I need your help today -- Republicans are seeing record fundraising from special interests after their opposition, and we need to fight back and show our strength.
Last summer, Sarah Palin and the Tea Partiers almost killed health care reform with the preposterous accusation that the bill contained "death panels." Ironically, the new Wall Street reform law actually does contain "death panels" -- for large banks and investment houses.
It creates a mechanism by which they, when faced with collapse because of their own risky behavior, can be put quietly to death without causing catastrophic harm to the rest of the economy. As the President said during the signing ceremony for the new law, "there will be no more taxpayer-funded bailouts. Period."
Already, House Minority Leader John Boehner has said that if Republicans regain control of Congress he would repeal the law.
The recent 5-4 decision by the energetically activist conservative majority on the Supreme Court has given people who tried to kill Wall Street reform a new channel for pouring money into campaigns against the overwhelming majority of Democrats who fought for it.
Given the Supreme Court's relentless war against campaign finance regulation, our only protection against a flood of corporate and other money from wealthy right-wing opponents of sensible public policy is for those who support decent healthcare, reasonable financial regulation, thoughtful climate control policy and measures both to combat the effects of this recession and to get us out of it is to contribute to the DCCC to help Democratic candidates.
If big money has the field to itself, it will win elections and control our future. But if people like you who care passionately about our country continue to work hard and if average voters get involved, we can beat big money. We did it with financial reform, and we can do it again.
Executive Director Jon Vogel just sent this message to DCCC supporters:
Friend --
We have just a few hours before our critical midnight 100 Days Deadline and I need your urgent help.
Days ago, our Republican counterparts sent out an email to their supporters claiming that June was the most record breaking fundraising they have had in five years.
The world is watching our next move. The media will use our grassroots totals to measure our response to recent claims that the House Democratic Majority is in jeopardy and our ability to keep pace with the Republicans' recent fundraising success.
We will keep the Democratic Majority in the House because we have you.
But, we must have the strongest 100 Days showing possible. Please help me reach our goal -- we are just $14,940 away. Any gift today will go a long way towards reaching our goal. Contribute before tonight's 100 Days Deadline.
Diane von Furstenberg just sent this message to DCCC supporters:
Friend --
I have some exciting news to share. Speaker Nancy Pelosi recently asked me if I would design a limited edition tote bag. With everything Speaker Pelosi has done to move our country forward, I was more than happy to oblige.
But what makes this tote bag even more special is that every dollar toward its purchase price will be used to support Speaker Pelosi and courageous House Democrats who are under increased attack by those who wish to take our country back to the policies of former President George W. Bush.
With only a limited number of my Team Pelosi bags available, I wanted to offer you, one of the Speaker's strongest grassroots supporters, the first chance to receive one.
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