Jan 01 2013
This nation cannot afford to continue the madness of runaway deficit spending. If you want to see a real fiscal cliff, one that will take this entire nation down for future generations to come, look at THIS cliff – the National Debt cliff:
This the real fiscal cliff. Not the Clinton-era tax rates we paid without much worry not long ago, and now back again with the ending of the Bush tax cuts. Not the sequestration cuts which barely dent the annual deficit levels. The real cliff is the one we have been on for over a decade now, which was we accelerated with Obama, Reid and Pelosi. We are on this cliff now and need to turn things around before we smack into the bottom.
We need the GOP House (and its Tea Party contingent) to stop the madness.
Sources tell Fox News Boehner & Cantor are against Senate
Stop stealing from our kids and their kids. Stop it now. We tried for three decades to “Starve The Beast” into fiscal sanity, but the big-government beast will gorge itself (and this nation) into oblivion if we don’t take a stand now – today!
I was working at the White House and OMB in those years [during the Reagan Administration], and was party to many a late-night argument over two divergent strategies. “Starve the Beast” held that the public would tolerate only so much deficit spending—so cutting taxes would at some point restrain spending as well. “Serve the Check” held that the only way to limit spending was to charge its full price at retail: Set taxes at an average of 20 percent of individual incomes and we would discover whether the public really wanted federal spending of 20 percent of national income.
Until now, the growth of government under President Obama has not hit the pocketbooks of most Americans. During Obama’s first term, federal spending grew to more than 24 percent of GDP — the highest it has been since 1946. Yet almost no one in the country (except smokers and those who frequent indoor tanning salons) saw their taxes rise. Quite the opposite: 160 million Americans saw their payroll taxes reduced from 6.2 to 4.2 percent.
How can we expect people to care about the growth of government if it doesn’t cost them anything?
Ideally, we would stop the spending binge and live within our means. But if the nation is not up to that, then we should all pitch in and pay for it — all of us.
Extending the tax cuts also shielded Americans from the costs of Obama’s spending spree. Shopping on a credit card is fun until the bill comes due. But if the bill never arrives, what incentive do people have to stop the spending?
Here’s what will change if we actually let the Fiscal Cliff come to fruition – $700 Billion less stolen from our kids’ futures this year ALONE. It is time we stopped being a nation of deadbeats, freeloading on the future earnings of the next generations because we won’t pay our own bills.
Update: I pray the GOP House retains a semblance of sanity and a strong backbone right now:
A carefully-crafted Senate compromise to avert the fiscal cliff could be in jeopardy, as House Republicans seem nearly certain to tweak the legislation and send it back to the Senate because it doesn’t contain sufficient spending cuts.
In a real sign of trouble, House Majority Leader Eric Cantor, No. 2 in House leadership, came out in opposition to the package.
Amending the legislation — which also extends a number of expiring tax and spending provisions — would throw a big monkey wrench into the deal struck by Vice President Joe Biden and Senate Minority Leader Mitch McConnell (R-Ky.). After an 89-8 Senate vote early Tuesday morning to approve it, President Barack Obama was already trumpeting the deal as a victory.
If Obama is cheering and the Senate passed it, it must be horrible for average American families. And it is:
An analysis by the Congressional Budget Office released Tuesday estimated the accord would add $4 trillion to the deficit over a decade.
For the sake of our children, kill this deal and let the Clinton-era tax rates come back. Force these idiots to pay for their nonsensical policies.
Update: As I suspected the Senate ‘deal’ is a complete scam, another DC con to kick the problem down the road and keep steeling money from future generations.
The “fiscal cliff” deal that was designed to save money actually includes $330.3 billion in new spending over the next decade, according to the official estimate the Congressional Budget Office released Tuesday afternoon.
CBO said the bill contains about $25.1 billion in new cuts, but those are swamped by the new spending on extended unemployment benefits for the long-term jobless and other new refundable tax credits that President Obama fought for.
Of those cuts, only $2 billion are scheduled to take effect in 2013.
$2 billion? Is that all! Sen Mitch McConnell is no fiscal conservative. Another clear picture of the mess we are in [note that the current deficit is now around $1.3 trillion, and those measly $2 billion in 2013 cuts is too small to show on this chart]: