The spending is not a problem, it is pure opportunity.
The ‘real money’ is in the IRA’s and 401k’s. Watch out! They’ll be coming after those very soon.
Charlie Brown was right. Good grief.
We can make all kinds of smart quips. ‘Spending problem? I have it, I spend it, no problem’. Obama’s only problem (in his mind) is he doesn’t have enough to spend. That’ why it’s no problem. He’ll not slow down until he’s gone. The Republicans are no better. Once a program is in place it will never be touched. You’ll hear the GOP whine for the cameras, but to be honest, what have done that we can point to? Obamacare hasn’t had any focus since the Supreme Court decision. Oh, we here about all the added costs, but is anyone trying to make a change? I haven’t seen it. So, the GOP now says, ‘We’ll fight for spending cuts’. Um. I doubt it. Thanks guys (and gals) of both Houses. I hope we don’t bother you too much. You see, $100 per month for me is a lot of money. With the payroll tax I now have that much less each month. I budget. Mr. Obama, where should I cut my expenses? Food? Mortgage? Utilities? Wish I could have had some notice. Maybe you were too busy. It’s the thought that counts.
Cutting taxes will not reign in spending as long as they can continue to borrow and the Fed is willing to monetize the debt. There are 4 approaches to dealing with the debt crisis.
Cut Spending. Spend less and you reduce the amount of borrowing. Cut enough and you can reduce the debt.
Raise taxes. Bring in more revenue and you have to borrow less, unless you spend more. The other problem is that the increased revenue only lasts until the taxpayers adapt to the new taxes. The liberals will point to the Clinton Budget surpluses as proof this works. Ignoring the fact that Clinton was in office during the Internet bubble and prior to 9/11.
Grow the economy, this is difficult when you increase taxes and regulations. But this also works 100% of the time because it increases the tax base and reduces the outflows of government assistance. This is the real reason for the Clinton budget surplus. With the internet bubble we reached almost full employment and maximized revenue. But, alas it was a bubble. The economy grew between 1995 and 1999 not because of Bill Clinton, but in spite of Bill Clinton.
Devalue the currency. Reduce the value of the currency reduces the value of the debt. Problem is this causes hyper-inflation - the worse tax of all. It devastates the economy and eventually results in more government spending to address the problems it causes, or as weve seen in Latin America, a socialist/communist revolution.
Im afraid that this last election has sealed our fate. 51+% of the voters owe their subsistence to the government and the protectors of their programs, the Democrats. They allowed public workers to unionize, illegal immigration to continue unabated , voter id laws to be blocked, seized 1/7 of the US economy through Obama Care. Don’t be fooled, the penalties for employers not providing health care was purposely kept low. Not to help small business but to incentivize large businesses to dump healthcare. This will result in employee paid health care to wane and a single-payer plan to take hold. It may take 15 years but it will happen. Healthcare will be rationed and senior citizens denied life extending treatment for the greater good. Liberals already pro-rate the value of human life from conception to birth they will have no issue pro-rating the last few years. Remember, the Nazis were Socialists first, insane tyrants second.
Now they will take the guns.
Face it everyone - the game is over and we lost. We cant win another Presidential Election and the Republicans in Congress have no backbone to stop the inevitable..
Therein is the real story; this government's voracious appetite for spending means it must go after people that are decidedly middle income.
Willie Sutton was once asked why he robbed banks. He famously answered, "That's where the money is!"