Right Pundits

Barack Obama wearing a fake mustache makes as much sense as his recent charm offensive to appear being cordial to House and Senate Republicans. Obama has already made it quite clear that he does not think there is a spending problem in Washington, DC, and is not worried about the rapidly growing National Debt. Of course he doesn′t since he has contributed the most to it for any single president! With budget talks under way before the March 27 deadline when the federal government runs out of money, again, and another round of debt limit talks by May, when our line of credit is maxed out, again, all Obama wants is to raise more tax revenue. His immediate problem is that the public is starting to get wise to his tricks after attempts to scare the nation during the sequester negotiations failed when numerous lies told by Obama and his administration were unmasked. Now we have proof from an unnamed White House senior staff member that the charm offensive is a ″joke″ and being orchestrated purely for Media consumption. What next?

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The Government Accounting Office, GAO, issued its annual report of the financial state of the federal government and the news was not good. Barack Obama is bankrupting America, burying us and future generations in unsustainable debt. The results of their report are admittedly incomplete, as their audits of several major federal departments, such as Defense or Health and Human Services, proved to be lacking. The bottom-line, however, is that we are at least $18.8 Trillion dollars in the hole! Perhaps this is why the German bank has demanded that our Federal Reserve Bank hand back some 300 tons of gold? Is our dollar destined to collapse?

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As Barack Obama and the Congress square off for the debt ceiling limit increase debate, Rep. Jerrold Nadler (D-NY) has offered up the idea of the U.S. Treasury minting a $1 Trillion dollar platinum coin to cover such an increase with the Federal Reserve. Naturally, many of the usual fools who defend the Obama White House and its wild spending ways, like former Enron economist Paul Krugman, think its a good idea. There are even some legal loopholes in the Constitution that would allow for such a coin. Just to be safe, Rep. Greg Walden (R-OR), has introduced a bill in the House of Representatives to prohibit this exercise in avoiding responsibility. Is this yet another sign of just how desperate the Obama administration is to continue spending like there is no tomorrow?

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According to an article in the Wall Street Journal, when Stephen Moore interviewed John Boehner about the Fiscal Cliff negotiations, Barack Obama told Boehner that, ″We don′t have a spending problem.″ Obama explained to the Speaker of the House that the cause of the National Debt and budget deficits stem from a ″health care problem″, which Obama claims to have solved with ObamaCare. When Boehner tried to convince Obama that Washington does indeed have a ″very serious spending problem″, Obama′s retort was, ″I′m getting tired of hearing you say that.″ So is it any wonder that Boehner gave up trying to talk any sense and negotiate a deal? And is it any wonder that Nancy Pelosi and Harry Reid will attempt to act with Obama and continue to push for more tax increases?

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Following the fiscal cliff debacle, we heard Republican politicians recite the claim that they would, first, demand federal budget cuts and, second, demand that President Obama provide specific cuts in that federal budget for our next federal ‘crisis’, the debt limit extension. There are only two problems with that. Obama will never provide specific cuts now; the opportunity for that ended this week. As well, nobody who has examined Republican politicians this century can reasonably argue that they actually believe in spending cuts, other than cutting Big Bird. That’s fine, I guess. But, assuming that someone, anyone, in the GOP wants to win a quadrennial election in the near future, they must present a reasonable alternative to the Democrats.

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So, the fiscal cliff ‘crisis’ is now officially over. Congress has passed a last minute deal that raised taxes on a few wealthy people without cutting spending in any way. After President Obama and Speaker Boehner, in 2011, failed to reach agreement on the ‘Grand Bargain’, which would have raised taxes but also cut entitlements, and after the House last month failed to pass Plan B, we can now get ready for the next artificial crisis in a few months, when spending will be examined, and the debt ceiling fight, which will see if the House will actually demand some type of deficit reduction measures to raise the debt limit. So, after this two month debacle we have all witnessed, who won and who lost?

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While most of us were celebrating New Years Eve for 2013, the U.S. Senate passed a bill overnight to prevent the dreaded Fiscal Cliff from happening. With plenty of drama and nonsense, the proposal crafted by Senate Minority Leader Mitch McConnell and Vice President Joe Biden is an ugly one which may not pass in the House of Representatives. But my guess is that enough House Republicans will go along with Speaker John Boehner and together with House Democrats, the bill will pass. In the Senate, the vote, which happened about 2:30am EDT, wound up being 89 to 8 with 5 Republican and 3 Democrat Senators voting NO. The bill postpones the sequestration measure for two months, sparing the military and domestic programs from facing spending cuts, makes the Bush Tax Cuts permanent for those earning under $450,000 per year, and extends unemployment for another full year. Estate and Capital Gains taxes are also increased. All-in-all, the last-minute Fiscal Cliff bill increases revenue by some $620 Billion dollars with only a vague promise of some $15 Billion in spending cuts. Not exactly a ′balanced approach′, is it?

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The clock is ticking in Washington, DC! Yes, the Fiscal Cliff is looming with only a few days left before taxes go up on January 1, 2013. But now our Secretary of the Treasury, Timothy Geithner, is warning about the debt ceiling, the limit of which we will hit on December 31, 2012. You may recall that the debt ceiling was raised in August of 2011 to $16.4 Trillion dollars. Depending how you count, we′re there now! Geithner says that with some creative accounting, he can keep paying the government′s bills through February, 2013. But after that, the United States of America will begin defaulting. Nice way for Barack Hussein Obama to start his second term in office, isn′t it?

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