Let’s cut right to the end of the story: Ordinary people have already tumbled off the precipice.
There will be no dramatic rescue at the height of the tension, with crashing, ominous music turning to a sunshine ditty, a government handout straining to reach you, to save you from tumbling over the lip of the cliff.
Instead the government is going to intentionally bump into you, making it look like an accident, head turned away, mumbling an apology, much like a pick-pocket does in a crowd, with the object to lift your wallet.
So, yes; however much they deny it, your tax bill is going to go up. Dramatically.
And Obama revealed as much when his muppet, Treasury Secretary Tim Geithner, presented one of the White House’s patented, joke-shop budgets to members of the loyal opposition.
The GOP says it’s basically the same budget they rejected last year.
And along with the promised tax increases for the rich, Obama is promising something special for you too.
$600 billion in “additional” taxes.
I know; you’re thinking: “Gosh, the 21 tax increases he already passed that are aimed at me were generous enough.”
And to think we didn’t get him anything.
"We have not seen any good-faith effort on the part of this administration to talk about the real problem that we're trying to fix," said GOP House Majority Leader Eric Cantor according to CNBC.
"To date, the administration has remained focused on raising taxes and attending campaign-style events, with no specific plans to protect Medicare and Social Security or reduce our national debt in a meaningful way," said Senate Republican Mitch McConnell.
“A senior Capitol Hill Democratic aide confirmed that the GOP description of the Geithner proposal is consistent with the latest Democratic position,” says CNBC. “The aide was not authorized to discuss the proposal publicly, and would do so only on condition of anonymity.”
I’d want to be anonymous too if I were a Democrat. I’m surprised that Geithner didn’t just drop the budget at the door, ring the bell and run away.
And, really, it was never going to end any other way than taxes for EVERYONE.
It’s not class warfare they are after; it’s your money. The class warfare rhetoric was the fable they told you just to lull you to sleep, like Scheherazade trying to keep her head.
You can’t finance everyone’s home, everyone’s retirement, everyone’s healthcare, everyone’s student loan, everyone’s bank, everyone’s brand new clunker and everyone’s green fad- and not expect to pay.
We know the math as well as the economists do. It doesn’t take higher mathematical functions to understand that outgo can’t dwarf income for forever.
One plus one plus one plus one equals a lot of money when there is are trillions attached to the One.
And politicians at the federal, state and local level have been so unable to resist growing government that not only does government count for the largest sector of our economy at 41 percent of GDP, but we celebrate the addiction as if it’s a real meaningful addition to our lives.
Third-quarter GDP growth revised upward to 2.7%!!! said the Los Angeles Times as the government revised GDP numbers upward to account for the government spending that the government forgot to mention the first time around.
“We spent what?!!?” said a government auditor who was promptly fired.
And the revision would be great if the revision wasn’t going to come out of your pocket in the form of future tax increases.
“Now, given what’s going on in Washington with the budget debate, it’s interesting that one of the biggest drivers of the third-quarter numbers, as noted by East Shore Partners’ strategist Joan McCullough, was government spending,” reports the Wall Street Journal.
“We are totally reliant on inventories and federal spending which are dicey, unsustainable and at this rate, won’t create jobs,” says McCullough in the WSJ.
So… it has all the hallmarks of a sophisticated, well thought out, intentional Obama economic plan.
Here’s another hallmark: You can expect another crisis- everyday.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for September 17th, 2014 | John Ransom
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