Posted on 12/24/2012 10:28:57 AM PST by whitedog57
One of my favorite commentators on television is CNBC’s Rick Santelli. And today, he made a great point: when the Senate wanted to pass Obamacare, they met on Christmas eve, 2009. Somehow, the fiscal cliff isn’t that important to the Senate or House this time around.
We know that President Obama is perfectly happy to let tax rates automatically increase on everyone (or at least those households earning $250,000 has above). And payroll taxes rise 2% regardless of the fiscal cliff or not. Then there are the 10+ Obamacare taxe, mostly hitting the top 2% of earners.
But President Obama is vacationing in Hawaii and most of Congress has fled DC back to their home states. So, Santelli is correct – there is not enough interest in DC to avoid the fiscal abyss.
President Obama would love to cut the military (and military contractors) and not cut entitlement spending. Here is the American Action Forum’s discussion of spending cuts and tax increases associated with the fiscal abyss. 113281449-The-Fiscal-Cliff-Everything-You-Need-to-Know-and-How-to-Avoid-It
Even though the US may go into the fiscal abyss, President Obama and Congress can do what they do best … kick the can down the road in terms of spending cuts. But let taxes rise, particularly on the “rich” (politically defined as $250,000 and above).
As I have discussed before, there isn’t enough taxes available from the $250,000 and above households to fund more than a week or two of government spending.
It’s Washington DC and the “big spenders” don’t really want to cut spending. Just tax those making $250,000 and above, borrow and spend. And have The Fed purchase the unwanted additional Federal debt.
(Excerpt) Read more at confoundedinterest.wordpress.com ...
Because he doesn’t give a damn, that’s why.
‘The country’s business is important,but dammit this is MY Christmas vacation.”
“Why is the President on Christmas vacation?”
Because, he wants to be just like Marie Antoinette.
/s/
IMHO
Why have you excerpted your own blog?
You have still failed to grasp the essence of our incompetent "Movin' on up!" affirmative action Barrak Jefferson fake president.
And he doesn’t give a damn, because everything is working toward his goal: the financial destruction of the U.S. B-HO is succeeding.
Makes me wonder how the Democrat Party could share B-HO’s goal.
Someone who lived too long ago to experience Obama’s presidency once said, ‘’Never attribute to malice what can just as easily be attributed to incompetence.’’
Yes, Obama is incompetent, but only malice toward the American people can explain many of his decisions, including his absconding to sunny Hawaii now while every tax-payer in America is scheduled to receive a lighter paycheck in increasingly harder times unless he returns to Washington and reinstates the Bush tax cuts before people start getting paid next year.
If Obama doesn’t enjoy making people suffer, there’s no reason for his long vacation.
Because he is “PRESIDENT OF THE STUPID” and the republicans went home because thier leader FAILED and ubango got what he wanted taxes across the board and a poster child to blame it on, it’s a win win.
I wanna know who told him he could take ANOTHER vacation in the first place.
Who’s the EMPLOYEE here?
F U B O !
Who wants some shaved ice?
Surf’s up at CBS!
Aloha from ABC!
NBC
Nothing
But
Coconuts
Because the President does not legislate. It is really silly to see him involved in this stuff at all.
He should stay on vacation, and let the grown ups take care.
Because everything’s going according to plan. That’s why.
The Great Movement (wealth redistribution) continues...
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