by William Teach | January 2, 2013 7:04 am
Der Fuhrer has spoken
(Slate) In a brief address Tuesday night, President Obama saluted the passage of a fiscal cliff deal that the White House had negotiated with the Senate. Then he fired a warning shot at Congressional Republicans, saying he won’t tolerate another down-to-the-wire battle over the debt ceiling this spring.
“I will not have another debate with this Congress over whether or not they should pay the bills that they’ve already racked up,” he said. “If Congress refuses to give the U.S. government the ability to repay these bills on time, the consequences for the global economy would be catastrophic–far worse than a fiscal cliff.”
He concluded by calling for a 2013 marked by “a little bit less drama, a little bit less brinksmanship,” and suggested the government “not scare the heck out of folks quite as much” the next time it has a major fiscal debate.
As it stands, the fiscal cliff deal is expected to add $4 trillion to the US debt over the next decade per the CBO (said debt hit $16.4 trillion on Monday). And it breaks down to $41 in tax increases for every $1 cut. Quite a far cry from the $3 in cuts for every $1 in tax increases Obama was yammering about out on the campaign trail, eh? Unfortunately, there were 51% who were just too moronic to understand that the man is a liar.
Said deal includes all sorts of perks, such as an extension of a Hollywood tax incentive. And does nothing to reduce, or even control spending. But, let’s face it, elected Republicans allowed Obama to run them over, with the help of the compliant liberal media. But, now Obama and the Democrats own this economy lock, stock, and barrel. Whatever happens, it’s theirs.
What’s next? Well, we have the aforementioned debt ceiling
debate fight. We also have
2. Sequester: The so-called sequester is a series of automatic cuts in federal spending that will reduce the budgets of most agencies and programs by 8% to 10%.
Which really only amounts to about $110 billion, a drop in the bucket compared to Central Government spending, and
3. Continuing Budget Resolution: The federal government works on a fiscal year that starts every Oct. 1. Problem is it has been years since it actually enacted a real budget on time.
Because the Senate refuses to pass a budget, one of their legally required duties.
And now Obama’s back to Hawaii, costing the taxpayers more money so that he can take a planet killing fossil fueled flight to resume his 1%er vacation.
Crossed at Pirate’s Cove. Follow me on Twitter @WilliamTeach.
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