Not exactly earth shattering news …
But the media is lying to you. About negotiations regarding the fiscal cliff. Well, not to you and me. I mean to them. The Obama voters.
The problem, they say, is that the stupid Republicans won’t compromise. If they don’t agree to raising taxes, the fiscal cliff … yada yada yada.
Because there is NO other option besides “increasing revenue” – their chosen euphemism for raising taxes. Which, ironically, is not a sure thing for increasing revenue ANYWAY.
The rhetoric has already lost sight of what the term “fiscal cliff” describes. The talk in the Washington media is increasingly as if the “fiscal cliff” is all about the deficit, and the point is a tax-increasing budget deal to close the deficit. But the fiscal cliff refers to the economy falling off the cliff due to the fiscal policies of comprehensive tax rate increases and spending cuts (for Keynesians) already enacted into law to go into effect on January 1. We are not going to avoid that fiscal cliff by the Republicans caving in to those tax rate increases!!!! Eric Cantor call your office.
Plus – let’s not forget about those new regulations that are about to go live and Obamacare which is going to unleash a whole new sort of hell.
We’ll call this The Obama 2013 Recession. Has a nice ring to it.
For the record, Michael Tanner:
In fact, many Democrats actually want to spend more, at least in the short term. The president’s most recent budget calls for $2.6 in increased spending between now and 2022. That’s $1 trillion more than the $1.6 trillion that the president has called for in new taxes. Therefore, the tax hikes would not be used to reduce the deficit, but to finance new spending. And, according to news reports, the president has already floated the idea of still more stimulus spending as part of the fiscal-cliff talks.
That’s not a “balanced approach.” That’s simply old-fashioned tax-and-spend politics.
Andy esplains the harsh reality:
As a matter of fact, we simply can’t tax enough for D.C.’s spending appetite, so arguing about the details of who pays what is pointless. We’ve never collected more than 20% of GDP in tax revenues for any sustained period of time, and nothing indicates that we can do it now. Obamasized government’s opening bet is about 25% of GDP. Good luck with that.
good luck with that go fuck yourself, dems.