John Ransom

So Obama, like every good control freak, has this plan apparently.

Yeah. That’s the first thing that should make you wary.

It’s plan that you are probably familiar with.

Or to put it a better way, it’s another plan that will give you kind of sick, eerie feeling, like so many of his other plans that involve top-down government planning.

Remember when he combated the growing instability in world oil supplies and prices by making the price of oil go up even faster- twice?

Or that time when he ushered in a golden era for solar power by throwing money into manufacturing capacity in solar when there was no actual demand for solar products, thereby decimating the solar industry?

Or that time that he harangued us about fiscal discipline while he was spending money left and right and couldn’t even pass a budget? He called it “eating our peas.”

It’s like any one of those wonderful plans that worked out so well for all of us- and went exactly as planned for Obama, control freak.         

Ok, so the Congressional Budget Office (CBO) is warning that cuts in government spending along with automatic tax increases from the expiration of the Bush tax cuts will spur a recession in the first half of next year unless Congress and the president act before the 1st of the year.

Oh, their first mistake: They gave Obama a timetable. Control freaks have problems with timetables.

Does the CBO know that the president really doesn’t like timetables? They should ask Congressional Republicans about the timetable that they had with the Keystone pipeline. Or maybe ask S&P about their timetable on the debt ceiling debate last summer before S&P downgraded U.S. debt.

A control freak would rather do anything- even fail- than deal with a timetable.   

“The Congressional Budget Office (CBO) fired off a warning Tuesday to our nation and its leaders in Washington,” writes Fox News’ Gretchen Hamel. “The CBO told us that the United States of America is headed toward a fiscal cliff and that if we do indeed fall off, it will have profound effects on our country and world economy. The CBO projects that if Congress does not act to prevent coming tax increases and spending cuts, a recession is certain. The CBO estimates gross domestic product would decline by as much as 1.3 percent if lawmakers don’t act.”

So here’s Obama’s plan to protect us all from an economy under assault by tax increases: more tax increases.

John Ransom

John Ransom’s writings on politics and finance have appeared in the Los Angeles Business Journal, the Colorado Statesman, Pajamas Media and Registered Rep Magazine amongst others. Until 9/11, Ransom worked primarily in finance as an investment executive for NYSE member firm Raymond James and Associates, JW Charles and as a new business development executive at Mutual Service Corporation. He lives in San Diego. You can follow him on twitter @bamransom.

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