The Fiscal Cliff is non-sense and so is Obama’s legacy!

If the Congress would have done their job in the first place we would never have this problem. Last year when we had this debt ceiling problem the deal was we will go ahead and raise it, and extend the Bush tax rates, and at a later time we will deal with the debt ceiling, Bush tax cuts, and automatic (sequestration) cuts again. The idea may be a good motivator to get Congress to do their jobs, and legislate. But again we are dealing with Congress. Granted, I blame much of this on the Democratically run senate. When was the last time the DEMOCRATICALLY controlled senate passed a federal budget. It has been almost 4 years. A duty that is imposed by law on Congress on a annual basis, and they have not passed one in almost 4 years. They keep passing these continuing resolutions, to keep the federal government funded. The President wants guaranteed increases in taxes on the top 2% of earners. Therefore, raising an additional $1.6 trillion in revenue over 10 years. He says also he wants to make a series of cuts in the amount of $600 billion to multiple social programs such as medicare and social security. However, according to the President’s plan, these $600 billion spending cuts are not automatic and are to be agreed upon at a later time. He wants definite revenues, but will not commit on inking what will be guaranteed cuts. Mr. President, what respectable negotiator would accept non-guaranteed cuts in this negotiation. The republicans have caved on raising taxes, it is time to open your social insurance programs to guaranteed cuts. If I were a conservative in the house, I would laugh at him, and say put your money where your mouth is. If it is so important to you that the middle class Bush tax rates (remember it was Bush who implemented these taxes for the middle class also, yeah the guy who Obama is always blaming) are kept in place, I would plainly say to him, for every dollar of new spending you want in this fiscal cliff legislation, I want a dollar of spending cuts to some entitlement program. It does not have to be social security, medicare, or medicaid. It can be the obama phone program, or the food stamp program, or defense for that matter, if we don’t need it. Then for every dollar of new revenue you want, I want another dollar of spending cuts. As to the one dollar of revenue for one dollar of spending cuts, medicare, social security, etc. would be on the chopping block. That would get us out of debt a lot faster than this either of the current plans being offered. This is the only fair way to do it, tit for tat. It is hilarious that a bipartisan commission came together to resolve our debt problem, and Obama is basically throwing what they came up with in their face. Their solution was to lower the top income tax rate to the mid 20s, and stop a number of deductions. Hmm, where I have heard that before, oh that is right Mitt Romney and Paul Ryan. The thing that boggles my mind the most is the ignorance of low information voters in America. The President’s plan keeps us in the red on a FY (fiscal year) basis for the next 10 years. How can we expect to get our total debt down, if our FY debt is in the red for each of the next 10 years? The answer is, it will not. Somebody show me an FY budget that is in the black, and I will listen. He is the only President in our history to have a TRILLION dollar annual (FY) deficit. Better yet, he has done it three years in a row, and will likely continue. He is a joke of a leader. If he does not budge on guaranteed cuts to entitlement programs, let us go over the cliff. Both parties get a little bit of what they want if that happens. Automatic cuts, and automatic tax increases.

This entry was posted in Taxes.

One comment on “The Fiscal Cliff is non-sense and so is Obama’s legacy!

  1. Not to mention the President to offset his proposal of $600 billion in non-guaranteed cuts, wants $200 billion in guaranteed spending in things such as extension of unemployment insurance, home refinance assistance, etc.

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