Mike Kueber's Blog

November 30, 2012

The fiscal cliff or a game of chicken

Filed under: Issues,Politics — Mike Kueber @ 5:47 am
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Yesterday I blogged about how the progressives were planning to reduce the deficit – i.e., do nothing but raise taxes.  As crazy as that sounds, the White House has confirmed that that, indeed, is their plan. 

As reported today in the New York Times, Treasury Secretary Tim Geithner formally described the Obama administration’s plan to avoid the year-end fiscal cliff – $1.6 trillion in tax increases, $50 billion in additional stimulus spending, abolition of the debt ceiling, and a promise (“with no guarantees”) to look for social-spending savings of $400 billion sometime next year. 

Talk about chutzpah!  It was just a few months ago when Republicans were being ridiculed by the media for refusing to accept a hypothetical budgetary compromise of $10 in cuts for every $1 in tax increase.  Now the Republicans are being told that, to avoid the fiscal cliff, they must accept astronomical tax increases plus increased spending. 

If Americans wanted that, why didn’t they elect a Democratic House of Representatives?

Let’s hope that this is mere posturing.

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2 Comments »

  1. first, if we increased taxes 10x the government will increase spending 11x, or more… that is why i’m against increased taxing.

    second, it seems our leaders still believe in keynsian economics and did not learn from the stagflation of the late 70’s. thus we are doomed to repeat that big mistake. this debt must be paid off. the only way to do it is with inflation AND controlled spending. wait for it, wait forrrrrrrrr it…

    third, the fiscal cliff is a bit of an exaggeration. for example, it would cut our military spending back to 2006 levels. our 2006 level of military spending was huge!!

    my guess is that all in D.C. will do everything they can to pass this problem on to the next generation. which is what FDR did, and LBJ did, and Reagan did, and what Clinton did. You see, the next generation doesn’t have a vote today…

    q

    Comment by Q — December 2, 2012 @ 1:40 pm | Reply

    • Like a lot of conservatives, I think the fiscal cliff isn’t as dangerous as further stimulus/deficit/debt spending.

      Comment by Mike Kueber — December 2, 2012 @ 6:16 pm | Reply


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