Dec 27 2012
How does that old proverb go? Watch what you ask for – you just may get it!
Americans voted in 2012 for the party of big government – and by extension the party of big deficits and big taxes to fund their big government fiction!
And so here we are, ready to go over the so-called cliff as we enter 2012. But what really is the cliff?
Well, it’s a paltry ~$109B or so in mandatory spending cuts, which won’t even put a dent in the annual deficit now running around ~$1.4 trillion a year. That can’t be what all the caterwauling is about.
This kind of spending cut can easily be absorbed, so what is all the hand wringing about? This man:
What the Democrats and media are all exercised about is a return to the tax rates of Bill Clinton and Al Gore! See here for one of their latest Drama Queen moments:
As President Barack Obama cut short a Christmas vacation to resume talks to avoid the “fiscal cliff” of automatic year-end tax hikes and spending cuts, the White House on Wednesday called on congressional Republicans not to stand in the way of a resolution in the U.S. Congress.
“It’s up to the Senate Minority Leader not to block a vote, and it’s up the House Republican leader, the Speaker of the House … to allow a vote,” a senior administration official told reporters traveling with the president.
I say block everything and anything from this lame duck Congress. Don’t give the new Congress an inch of cover. They were elected, let them work their wonders.
The media loves to complain about the “Bush era Tax Cuts” – but from what did President George W Bush actually ‘cut‘?
From the Bill Clinton tax rates of course! So please, let’s bring back the Bill Clinton tax rates, which should generate about $600B in new revenues, cutting our deficit nearly in half and extending the time before we hit the debt limit! And let’s bring them back for everyone – especially those who voted for more Democrat leadership.
Tis the season of the Democrats! Embrace the economic ignorance and naivete!
Update: Seems the House will be in session Sunday -not good. Unless they can get more cuts than in the current sequestration trigger I would not make any deal with the Dems.
Boehner better not bumble this with backroom boobery. He would be snatching defeat from the jaws of victory.