People will start calling for Obama to save them... Eventually, it will become clear to even the dumbest Democrat that Obama is nothing but an empty suit. Just as he was powerless to bring the 2016 Olympics to Chicago, Obama will be powerless to fix anything.
When American goes over the cliff, Obama's "stash" disappears. And, when Obama's stash disappears, so does his support.
“modest cuts in spending growth”
$100B cut in the DoD budget is NOT “modest” and they are REAL cuts, to CURRENT BUDGETS, NOT in “growth”.
So, Now that we know where this clown author is coming from, there’s no need to read any further.
This makes no sense. If Washington remains "overfunded", then why do we have trillion dollar deficits??
I'm not sure if the writer used the wrong word or if his politicalspeak got in the way. Regardless of which it was, it distracts from his point, which also doesn't make a lot of sense, either.
The fical cliff will likely affect Washington the least. Too many bloated egos and the bloated incomes that goes with it.
Those who will be the most affected are John and Jane Average American Taxpayer. These are the people who will see the greatest impact on their lifestyle and they will have the hardest time trying to scale back to what they can afford with their new, reduced income levels. And, what SHOULD make people even angrier is that Washington is happy to discuss cutting everyone else's disposable income, as long as theirs remains untouched. IOW, they are saying "I got mine, too bad about yours!"
IMO, the entire fiscal cliff is political theater about Washington trying to cover its collective butt. When the tax increases and spending cuts kick in, The POTUS and the Congress are going to feel anger and hear language from John and Jane Average American Taxpayer that would make a sailor blush. THAT'S what they are trying to avoid . . . . . . . . . . unsuccessfully, so far. Even WITH Bawlin' Boehner's caving on the tax increases.
We went over the “cliff” and we passed the real deficit cap a couple of years back when investors stopped buying our debt.
When the Fed had to start printing money to “finance” our debt is when we went over the cliff. Arguing about whether we hit bottom at 100 mph or 99.9 mph is a waste of breath and energy.
Any plan that fails to address the fact that the government is approximately twice the size we can pay for, is a waste of the paper it is printed on.
I could not agree with you more, and I think it bears repeating.
Bump for later reading.