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Newt: Fiscal Cliff 'Artificial Invention'
Breitbart TV - Greta VanSusteren ^ | 11/30/2012

Posted on 11/30/2012 1:53:15 PM PST by GVnana

Newt Gingrich: "Well, I think there are a lot worse things than going over a man-made cliff that I think is entirely artificial. And I think the reality is, the President of the United States has not come forward with any serious spending cuts. What the Democrats are proposing is to take the tax increase now, and then sometime next year, eventually, possibly, we might have some kind of entitlement reform. That's a really bad deal for the American people."

Greta Van Sustern: "Well, I don't know if it's also a deal that anyone expects could be realistically kept. I mean, any deal that's made today in Washington is amended next week and the week after, or not kept. So I mean, it's, like, you know, you make your deal right now, and you hope that it even can last -- last through the year. Am I right?"

Newt Gingrich: "Well, the only way you guarantee deals is you actually pass them into law. Then it's a lot harder to change them. And my only point is, you know, if we had a game, and every time the term fiscal cliff came up, people had to donate a dollar to something, you'd be amazed in the course of a week or two how often this has been repeated like a mantra. I compared to a great essay by Tom Wolfe called "Mau-Mauing the Flak Catchers" in which people chanted and made noise in order to get their way.

(Excerpt) Read more at breitbart.com ...


TOPICS: Constitution/Conservatism; Editorial; Government; News/Current Events
KEYWORDS:
(Just had to include the part about Tom Wolfe's essay. I remember it well.)

Video at link.

1 posted on 11/30/2012 1:53:22 PM PST by GVnana
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To: GVnana

Newt is the only one who would come up with this reference to Wolfe’s “Mau-Mauing the Flak Catchers” and bomb it out of the park.


2 posted on 11/30/2012 1:59:26 PM PST by jonrick46 (The opium of other people's money.)
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To: GVnana
This is really a simple matter. There is only issue here the Republicans must stand firm on. Give Obama anything he wants, but DO NOT RAISE THE DEBT CEILING!
3 posted on 11/30/2012 2:01:36 PM PST by Hoodat ("As for God, His way is perfect" - Psalm 18:30)
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To: GVnana
That the media is talking about this non-stop has me very suspicious.
4 posted on 11/30/2012 2:04:01 PM PST by Arm_Bears (The MSM lies about conservatives; and it lies about liberals.)
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To: GVnana

The only thing I didn’t like about what Newt said last night on Greta was the same old thing of the GOP-e.

The magic word, cut entitlements.

I am so sick of the TV Republican machine saying that, if I was in the same room with them I might just barf on them.

Put the $2.5 trillion cash you spent over the years from Soc Sec and MC surpluses - back in the fund.

IN CASH.

Problem solved.

But gee.. They spent it.

When things collapse really bad, there should be a lot of trials and convictions for bankrupting the government.


5 posted on 11/30/2012 2:05:05 PM PST by PieterCasparzen (We have to fix things ourselves)
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To: PieterCasparzen
When things collapse really bad, there should be a lot of trials and convictions for bankrupting the government.

The Jon Corzine/MF Global precedent has been set; the oligarch class can steal anything they want, and there is nothing you can do about it.

6 posted on 11/30/2012 2:07:52 PM PST by E. Pluribus Unum (Labor unions are the Communist Party of the USA.)
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To: GVnana

Let me see...

The “Fiscal Cliff” are the cuts and tax hikes the White House and Congress agreed to when they raised the debt ceiling... if they could not get a handle on the deficit. Of course they made no attempt to get a handle on the deficit.

Obama and Congress designed this “Fiscal Cliff” as a kick in their own pants to get something done. Instead they want to avoid their own kick in the pants.

Do I understand this correctly??


7 posted on 11/30/2012 2:09:27 PM PST by GeronL (http://asspos.blogspot.com)
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To: GVnana

Conservatives, it is not a “fiscal cliff”.

Let’s call it what it is.

It is a spending cliff.


8 posted on 11/30/2012 2:13:06 PM PST by xzins (Retired Army Chaplain and Proud of It! True supporters of our troops pray for their victory!)
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To: GVnana

This was a great interview. And I think Congress should heed his advice to break up the fiscal cliff into a series of foothills. No more giant bills on Christmas Eve. Separate the pieces, break it off in smaller chunks.


9 posted on 11/30/2012 2:16:06 PM PST by SueRae (It isn't over. In God We Trust.)
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To: GVnana
Newt may be correct.

Our government has a predictable pattern of creating crises in which the solution is always more government, more bureaucracy, more taxes, more regulations and less liberty.

It's what our government does. It does not represent the interest of most Americans. This is why I haven't voted in 8 years.

10 posted on 11/30/2012 2:18:21 PM PST by GSWarrior (Click HERE to read entire tagline.)
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To: PieterCasparzen

Entitlements do have to be cut. The total liabilities of Social Security and Medicare are a hell of a lot larger than $2.5T. That’s just a drop in the bucket. Yes, if that money was still somewhere (though I’m not exactly sure how the government would have saved it) other than bonds (Social Security does have tons of T-bills, as meaningless as that is) it might put off the crash for a little while longer, but the programs are on an unsustainable course. They are Ponzi schemes pure and simple and those cannot have a future.


11 posted on 11/30/2012 2:22:47 PM PST by drbuzzard (All animals are created equal, but some are more equal than others.)
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To: GVnana

From something I read earlier today, I learned that there’s no carrying over of agreements or spending plans from one congress to the next. So the incoming congressmen could agree to all sorts of “cuts” in spending, but the next batch of congressmen in 2 years don’t have to abide by it all.

If this is true, it needs to be shouted from the rooftops. What the heck is the point of this charade when it’s not going to solve the problem? Unless the plan is....there IS no plan, in which case we should just stop feeding the beast and hunker down in the lifeboat.


12 posted on 11/30/2012 2:23:30 PM PST by Prince of Space (Be Breitbart, baby!)
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To: GVnana
Maybe it's just next in the line of *crisis*.... Financial Crisis '08, Healthcare Crisis '10 ...Fiscal Cliff.... etc., etc.

Eventually, we'll have had enough crisis for these clowns to *fix*, that we'll have finally arrived at Communism.

13 posted on 11/30/2012 2:25:14 PM PST by Jane Long (Philippians 2:11)
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To: E. Pluribus Unum
The Jon Corzine/MF Global precedent has been set; the oligarch class can steal anything they want, and there is nothing you can do about it.

Right on. Nations never last when they are as corrupt as we are. Their freedoms have been stolen.

14 posted on 11/30/2012 2:26:11 PM PST by Digger
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To: GVnana

Problem is... if Boehner/Obama get a deal to postpone the tax hikes & sequestration as Newt is suggesting entities like FR and conservatives across the board will rip Boehner.


15 posted on 11/30/2012 2:39:35 PM PST by what's up
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To: xzins

It is not even a cliff. It is a speed bump.


16 posted on 11/30/2012 2:47:33 PM PST by plain talk
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To: xzins

It is not even a cliff. It is a speed bump.


17 posted on 11/30/2012 2:49:16 PM PST by plain talk
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To: GVnana

Of course it’s artificial. It was cooked up by Reid, Schumer and McConnell, and Boehner went along with it, and strong-armed it through the House (remember “get your asses in line”?). None of them can be trusted.


18 posted on 11/30/2012 3:01:12 PM PST by cotton1706
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To: All

The yearly revenue coerced from us is not enough to pay the yearly bills. The only answer is GROWTH. How do we get the economy to grow and produce more revenue? According to past experience (Reagan, Kennedy, etc.), the best way to get the economy to grow is to cut taxes, resulting in an explosion of new hires and new purchases. See Laffer curve.


19 posted on 11/30/2012 3:10:41 PM PST by Liberty Wins
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To: GVnana
...Newt: Fiscal Cliff 'Artificial Invention'...

Newt is right. The Democrats and their lapdog media is ginning this up.

The media started bleating about this in unison the day after the election. I smelled a rat at the time. Take a look at the Google Trends report for the search term "fiscal cliff" below. That ramp up is November 7. Nobody was using that term before then. All the media outlets began talking about this that day.

https://www.google.com/trends/explore#q=fiscal%20cliff&date=today%201-m&cmpt=q

20 posted on 11/30/2012 3:22:04 PM PST by FReepaholic (Stupidity is not a crime, so you're free to go.)
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To: FReepaholic

I’m not saying there’s no fiscal crisis, it’s just puzzling why all of a sudden on one day all the left wing media started bleating about it. I don’t trust them. They’re trying to set up the Republicans somehow.


21 posted on 11/30/2012 3:29:17 PM PST by FReepaholic (Stupidity is not a crime, so you're free to go.)
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To: drbuzzard; All
OASI DI OASDI
Assets at the end of 2010 . . . . . . . . . . . . . . . $2,429.0 $179.9 $2,609.0
Total income in 2011 . . . . . . . . . . . . . . . . . . 698.8 106.3 805.1
Net payroll tax contributions . . . . . . . . . . . . 482.4 81.9 564.2
Reimbursements from General Fund of the Treasury . 87.8 14.9 102.7
Taxation of benefits . . . . . . . . . . . . . . . . . 22.2 1.6 23.8
Interest . . . . . . . . . . . . . . . . . . . . . . . 106.5 7.9 114.4
Total expenditures in 2011 . . . . . . . . . . . . . . 603.8 132.3 736.1
Benefit payments . . . . . . . . . . . . . . . . . . . 596.2 128.9 725.1
Railroad Retirement financial interchange . . . . . . 4.1 .5 4.6
Administrative expenses . . . . . . . . . . . . . . . 3.5 2.9 6.4
Net increase in assets in 2011 . . . . . . . . . . . . . 95.0 -26.1 69.0
Assets at the end of 2011 . . . . . . . . . . . . . . . 2,524.1 153.9 2,677.9


Note:

The 102.7 reimbursements are for the revenue not collected because of the corrupt bread and circuses "tax holiday", so that should be added into the calculation as it equates to expected revenue from payroll deductions.

Politicians like to make it sound like the 114.4 interest earnings are a #$##$%^^ GIFT. When, as a 10-year-old would understand, that is interest on the treasury bonds - and that is EARNED and DUE.

Congress is pissed that the plan is now USING the interest to pay benefits; there is no longer any SURPLUS for Congress to SPEND.

From the Trustees report:

The Old-Age, Survivors, and Disability Insurance (OASDI) program makes monthly income available to insured workers and their families at retirement, death, or disability.

...

The Social Security Act established the Board of Trustees to oversee the financial operations of the OASI and DI Trust Funds.

...

The Social Security Act requires that the Board, among other duties, report annually to the Congress on the actuarial status and financial operations of the OASI and DI Trust Funds. The 2012 report is the 72nd such report.

...

See ? It's supposed to be (well, if you're all concerned about details like the Rule of Law) a separate Fund. It's just at a point where Congress can't steal from it any more, and they have to actually pay the interest on the $2.677 trillion they Borrowed.
22 posted on 11/30/2012 3:37:29 PM PST by PieterCasparzen (We have to fix things ourselves)
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To: PieterCasparzen

Apparently my post was pointless. I acknowledged that the money is due. I also pointed out that even with it SS goes broke eventually. Medicare has barely any funds and is about broke already.

Anyone who is capable of watching trends sees that they are unsustainable.

But let’s ask this question- where will that $2.5T come from? The money tree out back? The deficit is already over $1T. You want a $4.5T deficit? This doesn’t say anything about the $16T in debt (of which the $2.5T is but a small portion).

If they aren’t looking to pay back that $16T as a whole, I don’t much see why the part will do any better. Yes, they are a bunch of crooks. No, there’s not much we can do to get blood from a stone, or money from a broke country.


23 posted on 11/30/2012 5:35:03 PM PST by drbuzzard (All animals are created equal, but some are more equal than others.)
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To: Liberty Wins
The only answer is GROWTH.

If we only have growth, without a radical reformation of Congress, growth will be eaten up by taxes that will be required to pay ballooning debt service and the insane Conressional spending that would ensue.
24 posted on 11/30/2012 6:39:16 PM PST by PieterCasparzen (We have to fix things ourselves)
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To: xzins

That it’s ‘spending cliff’ is a great point and a terrific battle cry.

Any chance of getting that in front of your congressman John Boehner?


25 posted on 11/30/2012 6:59:03 PM PST by Fightin Whitey
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To: Fightin Whitey

Boehner is next door in the 1st. I’m in the 2nd with new guy brad wenstrup (sp?)

I agree, though. Calling it “spending cliff” in all public and private comments would put the issue in focus.

Any father who thinks giving more credit cards to his spend-addict college son is ignorant. “We just need to give him more money to keep up with his spending addiction. I know. Let’s get him a credit card for every one of those in-the-mail offers that the credit companies send us. That’s the answer!”


26 posted on 12/01/2012 7:43:32 AM PST by xzins (Retired Army Chaplain and Proud of It! True supporters of our troops pray for their victory!)
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