Changes

==112th Congress (2011 - 2013)==

==112th Congress (2011 - 2013)==

After the drubbing the president's party took in the [[2010 Midterm elections]] and ouster of [[Nancy Pelosi]] as [[Speaker of the House]] Obama solicited the former President [[Bill Clinton]] for advice on dealing with the new [[Republican]] majority. President Clinton endorsed extending the "tax cuts for the rich" of former President [[George W. Bush]] which lowered rates for everyone below the level of President Clinton's tax hikes. Obama followed Clinton's counsel and signed on to extending the Republican across the board tax reductions including a 2% "payroll tax holiday", or reduction in the amount of Social Seurity withholding taxes from workers paychecks.

After the drubbing the president's party took in the [[2010 Midterm elections]] and ouster of [[Nancy Pelosi]] as [[Speaker of the House]], Obama solicited former President [[Bill Clinton]] for advice on dealing with the new [[Republican]] majority. President Clinton endorsed extending the "tax cuts for the rich" of former President [[George W. Bush]], which lowered rates for everyone below the level of President Clinton's tax hikes. Obama followed Clinton's counsel and signed on to extending the Republican across the board tax reductions including a 2% "payroll tax holiday", or reduction in the amount of Social Seurity withholding taxes from workers paychecks.

Longtime Chicago friend and operative [[Rahm Emanuel]] resigned under a cloud of suspicion surrounding the [[jobsgate] scandal and was replaced by [[William Daley]].  Many other "Clinton retreads", as the press dubbed them, were also brought back into government. One crtic bserved, "Mr. Obama failed to notice that President Bill Clinton saw his strongest period of economic growth only after his health-care takeover and stimulus bills were defeated, welfare rolls were pared, the capital gains tax was cut, and the budget was balanced."<ref>http://online.wsj.com/article/SB10001424052748703983104576262763594126624.html?mod=djemBestOfTheWeb_h</ref>

Longtime Chicago friend and operative [[Rahm Emanuel]] resigned under a cloud of suspicion surrounding the [[jobsgate]] scandal, and was replaced by [[William Daley]].  Many other "Clinton retreads", as the press dubbed them, were also brought back into government. One crtic observed, "Mr. Obama failed to notice that President Bill Clinton saw his strongest period of [[economic growth]] only after his [[health-care takeover]] and [[stimulus bill]]s were defeated, welfare rolls were pared, the capital gains tax was cut, and the budget was balanced."<ref>http://online.wsj.com/article/SB10001424052748703983104576262763594126624.html?mod=djemBestOfTheWeb_h</ref>

==Also See==

==Also See==