The Fiscal Cliff – such a crisis. A man-made crisis created by Politicians that had 10 years to defuse it (the expiration of the Bush era tax cuts). It does have real consequences – and in the end, won’t solve the two biggest problems we have: a $16 Trillion debt and that we are adding to it at over $1 Trillion / year. Are any of these clowns in DC actually serious about the real financial danger they are putting us into? Here they are talking about a $1 Trillion revenue over 10 years – and about $85 Billion in less spending over the same time frame (ok, I’m being optimistic). Put them together and what do you get? About $200 Billion per year “saving” if we do “Washington style rounding”.
Again, we are at what seems to be a constant $1.2 Trillion in deficit spending per year. Do our “Leaders” ever take time out from politics, do the math AND check that some of us actually watch them? For all of the ink and pixels being used over this issue, how often do we see our MSM Journalists go “er, that isn’t going to pay the bills, is it?”
Hardly – even if we avoid this Fiscal Cliff with what seems to be a badly stitched together patchwork will still be spending the magic $1 Trillion per year that we don’t have. We’ve had 4 years of it thus far, piling up almost $6 Trillion in additional debt – there is no telling how much additional debt we would have if Obama controls setting the new debt ceiling – or the one after that, and after that, and after that….you get the picture.
Thus, this whole Fiscal Cliff is just so much horsepuckey in comparison.
All we need is for the Feds to stop buying the Obama debt and the marketplace interest rates start to climb and then we will know real hurt. All of the people who are screaming “you can’t cut this, you can’t cut that – people will be hurt” will finally “get it” that nobody will get anything when it all shuts down. Interest payment on the debt is now #4, only exceeded by Social Security, Medicare, and Dept of Defense. Two points on $20 Trillion will move that ladder point in a hurry.
With the current Liberal outrage of “We have to keep our children save from those millions of shooters that own those ‘assault weapons’ – confiscate them all!” (and if some of them had their way, we’d be in jail – or worse). Yet, how many people are saying “Confiscate the politicians’ national checkbook – you are financially killing our kids and grandkids!” ?
Damn few, proportionally speaking. Oh yeah, seemingly just those extremists – the TEA Party type folks.