Part Way Over the Cliff & One-Sided Compromise
12/18/12 – French economist says U.S.
Medved quoted the leading French economist who said that the
U.S. still drives the world economic engine because of entrepreneurial spirit,
the drive to innovate, and predictable taxes and regulations, but that the last
few years they’ve forgotten these last 2 principles and have slowed. They’ll revive when they return to these
principles.
12/19/12 – Obama concern over gun control rather than
fiscal cliff.
Why doesn’t Obama put half the apparent energy he’s been putting
into the school shooting and gun control into the fiscal cliff, spending,
deficit & budget, rather than half-baked ridiculous offers. He feels great urgency for the former, but
has stated that the debt/deficit is of no near term concern – he’ll just kick
that can down the road. It’s not a pet
liberal issue or concern they can play on for political advantage. It’s the spending that buys them votes and
keeps them in power. No concern for the
economic health of the country, or even continuing viability of government
entitlement programs. The piper will
someday be paid.
12/20/12
Commercial debt to GDP ratio is about 350% (incl.
private). Interest $200 billion now, and
will go up when rates rise from the current record lows.
12/31/12 – Obama’s one-sided “compromise” on the fiscal
cliff & kicking the can
Obama complained in a press conference of not being able to
work or compromise with this Congress (House of
Representatives). He’s already
campaigning to blame & make them look bad to get a more favorable
(Democrat) batch in 2014. As if it
doesn’t take 2 to tango – he only compromised on the tax increase (he wanted
the threshold to be $250K, Republicans countered w. $1 million, the White House
& Senate agreed on $400/450K for individuals/families, and an increase in
highest capital gains rate to 20%), not the spending cuts which are the
substantial part of a balanced budget & deficit & debt reduction. He kicked that down the road with the
sequestration deferral/postponement. The
Dems have promised spending cuts before in exchange for deals of increased
revenues and debt ceilings, but have not delivered. When will we learn?
1/1/13 – Democrat double standard & the true
obstructionists
Nancy Pelosi said “hopefully the Republican House majority
leader (Boehner) will at least bring the Senate/White House proposal to the
floor for a vote." As if Harry Reid
hasn’t been pocketing the House bills/proposals in the Senate. Since she & Harry are ostensibly such
great scriptorians, haven’t they heard of “do unto others as you would have
them do unto you?” Turnabout would be
fair play – especially when the House is constitutionally responsible for the
purse and no one else seems intent on balancing budgets or debt reduction. Nonetheless, it was voted on in the House
today, once again demonstrating who really is the obstructionist,
non-compromising party (Democrats), although Dems & the media will continue
to paint the Republicans as such.
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