John Ransom

GOP politicians who weeks before agreed that the most ruinous thing we could do to our economy was increase taxes, now agreed that maybe a tax increase on the dirty, rotten rich wasn’t such a bad idea after all.

You know? It’s only money.

To help the surrender along, the non-partisan, but all-government Congressional Budget Office released its newest work of fiction, The Fiscal Cliff- which is more myth than cliff, but certainly ready to be adapted for TV. .

“Once upon a time,” the fairy tale started, “there was a misunderstood budget deficit looking for a tax increase. This tax increase was TOO big; that tax increase was TOO small; but the one on the rich was JUST right!”

In Washington, that’s considered a happy ending- and just in time too.

Like any good adventure story, The Fiscal Myth story has the added importance in that it has to beat the clock. Tick, tick, tick the clock clicks in the background, reminding us of the danger, the Tea Party bad-guy holding a bloody razor ready to cut government spending in it’s dangerous war on women, children and puppies.       

So then, the story goes, NOW you replace $500 billion in tax increases with a trillion dollars or more – oh, goody!- in new taxes and you guarantee that year-over-year government spending will never go down!

The frog becomes a prince. The princess becomes an ogre.   

The deficit and the tax increase live happily ever after, forever and ever and ever in the swamp they call DC. 

And, voila, the Republic is safe from the fiscal cliff myth.

While France surrendered only half their republic to Germany, look for the politicians in Washington and on Wall Street to surrender the entire US Republic in the name of avoiding a recession.

But even so, after losing the Republic,  we’ll  still get the Great Recession thrown in for good measure.

Because while Hollywood believes in happy endings, Washington never wants the myth to end, happily or not.  

 Ransom Talks About Fiscal Cliff Surrender on Fox Business and yeah, he's mad.


John Ransom

John Ransom is the Finance Editor for Townhall Finance, host of Ransom Notes Radio and you can catch more of the best money advice and monetary commentary by him daily 10am PT, 1pm ET at or on Comcast Cable


Get the best of Townhall Finance Daily delivered straight to your inbox

Follow Townhall Finance!