The Fiscal Cliff 2013 plan from Barack Obama must be a joke, considering how Mitch McConnell openly laughed at it! Yes, that is what happened when Obama sent Treasury Secretary Timothy Giethner to Capitol Hill to present the White House plan to Senate and House Republicans. Speaker of the House John Boehner has all but said now that the Fiscal Cliff talks have completely stalled. The problem is that Barack Hussein Obama does not want to do any spending cuts at all while he demands that tax rates be raised. Obama also wants to do another round of stimulus spending and wants the authority over the nation′s debt limit transferred permanently from the Legislative Branch to the Executive Branch. This as we face maxing out our current debt ceiling by February, if not sooner. Meanwhile, the clocks ticks away as Tax-ageddon approaches on January 1st.
Obama took his dog-and-pony show on the road yesterday to Pennsylvania speaking at a toy factory owned by the Rodon Group. He continued his assault against House Republicans who stand between him and becoming a pharaoh like his pal, Mohamed Morsi, the Muslim Brotherhood president of Egypt. Bad enough that Obama wants GOP lawmakers to roll over and increase tax rates without any spending cuts at all, but now wants to usurp the Constitution and give himself unlimited power to spend as much money as he wants.
Republicans who appeared to be ready to cave in the week before are now starting to develop a backbone due to Obama′s insulting power-grab. Some are now actually talking about letting the calendar run out and allowing the Bush Tax Cuts and the rest of the budgetary mess expire come January 1st. Obama claims that the Republicans will play Scrooge, ruining Christmas for all. But the problem is one of his own creation, although there is no doubt that Obama′s allies in the Media will blame the GOP.
Our nation has not had an actual annual fiscal budget now for nearly four years. The U.S. Senate, led by Harry Reid, has refused to even consider a budget for more than 1200 days now. Reid is also working to change the Senate rules on filibusters in order to further shun Republican senators. A clear sign that Obama and the Democrats have no desire to work towards any bipartisan agreement. Sen. Patty Murray (D-WA) has been saying for months that they should just let the fiscal cliff happen. Now, many Conservatives are leaning in that direction rather than sell out to the Socialists and their Welfare State.
In my opinion, the GOP should put one last deal on the table, voting on it in the House and sending it to the Senate. I would suggest it involve Herman Cain′s 9-9-9 plan, simplifying our tax system to one that is pro-growth to benefit the economy. Toss in provisions for means testing MediCare for the wealthy and a graduated increase in the Social Security age, say one month per year starting in 2018 until the retirement age has gone up a full year in 2030. At least that would be something to hang our hats on that many in the public might comprehend and agree with.
The truth is, we have already gone over the real fiscal cliff long ago. You can throw around all sorts of numbers but the facts are that we truly have no idea just how bad of financial shape the nation is in. The Federal Reserve has never been audited. While some of us are familiar with our ′on budget′ National Debt now at about $16.3 Trillion dollars, the size of our ′off budget′ debt, sometimes referred to as ′Commitments and Contingencies′, is somewhere between $64 Trillion to more than $200 Trillion dollars! A few folks out there think we′ve already blown through $1 Quadrillion dollars!
The idea that raising taxes is going to help is ridiculous. Even if you confiscated everything over $1 million in income, as well as all profits of the Fortune 500, you would still only come up with enough cash to fund the federal government for maybe 6 months. We are still in a recession, despite Obama and the Media saying we are not. If we really were out of it, then the Federal Reserve would have been raising interest rates. But Ben Bernanke is continuing his plan for another round of Quantitative Easing, buying bonds and securities to keep Wall Street happy, and keep interest rates at 0.5% until at least 2014. The Fed bankers have been saying all along that until the unemployment rate dips below 6.5%, they will continue to print cheap money.
So while Fiscal Cliff 2013 is just around the corner, Barack Obama appears to have no real intentions on doing anything to solve the real problem, that our government has no true annual budget and is just spending far too much. The White House is not offering Senate nor House Republicans any spending cuts while demanding twice the tax rate increase they did back in 2011, as well as moving control of the debt limit to the Executive Branch. If you think things are bad now, just wait until Obama has an unlimited debt ceiling to play with!