Skip to comments.Dems: Oh, Well, Back to Reckless Deficit Spending! Your money is burning a hole in their pockets.
Posted on 11/23/2011 12:45:07 PM PST by IbJensen
The corpse of the Super Committee was not even cold before Democrats tore off their silly deficit hawk disguises and got back to spending your money like water. As reported by The Hill, theyre itching to throw another $400 billion on the national debt, as quickly as possible:
After failing to reach a deal to reduce the deficit, the Senate will move next month to take up legislation that could add more than $400 billion to the deficit.
All of the proposals, such as the extension of the payroll tax cut and unemployment insurance, are popular but theres no agreement on how to pay for them.
Senate Democrats will go on offense next week by forcing Republicans to vote on extending and expanding the payroll tax cut, which accounts for $240 billion of the tab, according to Democratic and Republican aides. Lawmakers will take up the legislation after completing work on the Defense authorization bill.
That payroll tax cut of Obamas is a strange beast, isnt it? He managed to find the one tax cut that really does make the deficit worse, without any appreciable offsetting gain to productivity. Thats one reason Democrats are so desperately in love with it. By pushing the great Obama Payroll Tax Cut front and center, and highlight its negative effect on the deficit, they smear all tax cuts as deficit bombs through guilt by association. Its pretty much the only way they can hide the Laffer Curve.
Also, since the Obama Payroll Tax Cut comes out of Social Security, which is already a tottering insolvency mountain of nearly inconceivable height, Democrats see this as free money they can shower on the peasants to buy their votes. Actual broad-based growth-oriented tax relief, and meaningful tax reform, continues to horrify them. Barney Frank, the man who nearly crashed the financial system of the planet, is bursting with undisguised glee that the failure of the Super Committee could spell the end of the Bush tax cuts and thats going to cost everyone a hell of a lot more than Obamas little payroll tax cut.
As usual, Democrats think their irresponsible deficit spending is actually an irresistible argument for tax increases, and theyre dragging out their festive holiday class-war sledgehammers to drive the point home:
Senate Majority Leader Harry Reid (D-Nev.) has yet to announce an offset for the measure but he has discussed matching it with a tax increase for millionaires. Such a vote would be intended to hammer home the message that Republicans are out to protect the rich, though it leaves Democrats vulnerable to arguments about class warfare.
It is the opening maneuver in what will be a busy month that will likely keep lawmakers in Washington up until Christmas.
Democrats are contemplating a separate vote on extending unemployment benefits, which they do not plan to offset. This would put Republicans in the tough position of blocking popular benefits at a time when the unemployment rate is 9 percent.
Unlike with the deficit-reduction supercommittee, failing to complete the December agenda will have immediate consequences. Families would see their tax bill increase by an average of $1,000; laid-off workers would lose unemployment benefits; doctors would see steep cuts in Medicare payments and corporations would see billions of dollars in tax breaks vanish.
How much are these Christmas goodies going to cost?
Extending unemployment benefits for one year will cost $44 billion, spread over two years.
Patching the Alternative Minimum Tax to keep middle-class families from its snare will cost roughly $70 billion for one year.
Saving doctors from scheduled cuts in Medicare payments for one year will cost $22 billion.
Extending expiring business tax provisions, including the research and development tax credit, will cost between $30 billion and $40 billion.
That adds up to about $177 billion, which Barack Obama spends every 18 days. Its about 5% of the amount Obama has already added to the national debt. Surely we could ask the President to put aside five percent agenda to fuel such worthy initiatives, couldnt we?
Not a chance! Heaven forbid we try to offset those unemployment benefits with cuts anywhere else in our bloated government! No, every penny of that $3.6 trillion deficit-fueled Obama monstrosity is absolutely vital, so the only way to fund more spending is to jack up taxes and collapse the private sector further.
Harry Reid already bought you a death spiral for Christmas, and hes got it all gift-wrapped and ready to go. Be sure not to throw away the wrapping paper, because the bill for your present is tucked inside.
it should be no problem for Obama to get re elected. He can use the New black panthers to work the voting places and the department of justice has already paved the way for that because they didn't arrest them the last time when they didn't even show up for court. The justice department chose not to arrest them because they are black. That is what they said,the DOJ said that. That is sort of what the Clinton defense was,"that depends on what is is." Obama has been very effective so far he has run up the deficit and down the defense and we can't do anything about it. Oh I know we can go and vote them out. I refer you back to the voter ID statement. I have always felt that I am wasting time every time I vote. Let's all write in Daffy or Donald Duck.
The biggest spending most corrupt liberals on the hill (Frank, Reid, Boxer, Pelosi, Hoyer) all won in 2010 by comfortable margins.
They’ve installed a bunch of career judges and bureaucrats who will insure nothing these people have passed will ever be reversed.
There is a reason they’re smiling in every picture.
Have a nice day. :)
So will it be 2012 or 2013 when the Feds decide that there is a overwhelming national need to “strengthen” 401(k) pension plans and possibly all others by making it legal to only invest in special Government Bonds? And using the individual mandate make it mandatory for all citizens including children to pony up five or ten percent of their gross earning into the program.
If this nation ever suffered a hard right revolution it would be with great difficulty these people could be located.
Actually, your grandchildrens’ money is burning a hole in their pocket.
Count on the GOP leadership to breath a deep sigh of reluctance as they go along with it. Where have you heard this before? “Its the best we could do”