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Crisis Delayed?

I awoke this morning to find the fiscal crisis had been averted. The House of Representatives, in a late night session, voted to approve the McConnell-Biden plan to raise taxes on the so-called “one percent”. Barack Obama is on his way back to Hawaii and Nancy Pelosi says it’s “a great way to start the year. The stock market is showing its approval by a sizable rally. All is great in the world, well, at least the country.

Well, not really. The deal that Congress approved for the nation is by no means a balanced plan. After the Senate voted for the plan, the CBO scored it as containing $41 revenue (read tax increase) to every $1 spending cut. Suspiciously, during the time the House is studying the plan, the CBO rescored it as a 10:1 ratio, but also notes that the plan would add almost $4,000,000,000 (4 Trillion dollars) to the national debt due to a decrease in revenues over a ten-year period. In other words, Congress passed a debt reduction bill that ADDS to the debt, evidently, with full knowledge the plan will prevent economic growth to the tune of $4 trillion over ten years.

Before anyone starts saying that Congress needed to do this to avoid a tax increase for everybody, let me point out that, with or without this plan, everyone’s taxes were going up anyway. While the plan dictates that those people making more than $400,000 (couples making $450,000) are evil people not paying their fair share, those making less than that faced a tax hike as well. The plan discontinues the payroll tax cut which will result in a 2% tax hike for all, no matter to what financial class they belong. By the way, Obamacare starts costing more money, in many cases almost doubling insurance premiums. simply, this means less money in everyone’s pockets.

Come to think of it, not everybody gets less money, because the administration, through Executive Order, gave Biden, Congress, and federal workers a raise. So, even as the taxpayers paycheck gets smaller, the people who supposedly work for us, get more. Currently, the House has voted not to give the raises, but unless the Senate takes it up today, it will die, as so many other bills will, on Thursday when the new Congress is sworn in. Of course, the bill also gives financial favors to NASCAR and to those poor Hollywood people. Doesn’t it make you feel warm and fuzzy that your tax hikes are doing such good?

My senator wrote earlier,”I supported this proposal because it protects 99% of Americans from increased taxes, it provides permanent certainty on the estate tax and Alternative Minimum Tax, it provides one year of protection for the reimbursement of doctors, it extends unemployment insurance for one year, and the net result of the deal provides over $600 billion that should be used to pay down our national debt.” Some of this may be true, however, none of this will ever be used to pay down the national debt. Even if it were, it would be but a drop in the bucket when the national debt is $16.4 trillion. When Obama cut short his vacation to make some photo opportunities and then turned the work over to Biden, he commented several times about how he had cut $1 trillion, I had to ask myself then why is his yearly deficit over $1.25 trillion dollars. Where were those cuts anyway? This bill is nothing more than a SPENDING and TAXING bill! The Lame Stream Media can spin it anyway they like it (nobody pays much attention to them anyway), but the only intent of this bill is to spend more.

This whole debacle should never have happened. Congress had almost a year and a half to come to some solution, but they waited until the last-minute to do anything. Really, the passing of this legislation does nothing but cause more turmoil in a few months. The sequestration cuts were delayed two months, which is about the same time until the debt ceiling issue comes up. When the new Congress starts work, they need to start working on these issues then, not in a couple of months. No good legislation ever comes about at the last-minute! The new Congress needs to get busy, actually do their jobs and cut spending before it’s too late!

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Comment by Lynnie Redd on January 3, 2013 at 3:59pm: The MADNESS must stop! We have NO choice but to FIGHT this "Tax and Spend" suicide agenda"!

Comment by charles w lennon on January 2, 2013 at 10:02pm: What makes anyone think that the Republicans are going to address spending? Pat Toomey and Mike Kelly of Pa(professed conservatives we put in office) both voted for this bill. By voting for this bill, they endorsed increased spending. What makes you think any of these yahoos are going to all of a sudden reverse course and say they are now agianst spending? Rand Paul alluded to the right idea. Those who pay taxes have all the power and the only way to stop these idiots in both parties is to not pay your taxes and deny them what they need the most - our money. We need about 20 million taxpayers to sign up and there is not chance of that happening. We are like the Jews in the holocaust, lambs willingly being led to the slaughter.

Comment by Paul Gamblin on January 2, 2013 at 7:27pm: Vote them all out! My senators both voted for this legislation, and I intend to do whatever I can to see that they are NOT re-elected.

Comment by Jay Kay JK on January 2, 2013 at 6:28pm: Hey Fisherman!

When did Winston Churchill say Never never never never give up and to whom was his speech addressed?

Answer:

Churchill said this on October 29, 1941, when he visited Harrow School. It was after the Blitz and things were looking up a bit for Britain. Here is the relevant part of the speech: But for everyone, surely, what we have gone through in this period -- I am addressing myself to the School -- surely from this period of ten months, this is the lesson: Never give in. Never give in. Never, never, never, never -- in nothing, great or small, large or petty -- never give in, except to convictions of honor and good sense. Never yield to force. Never yield to the apparently overwhelming might of the enemy. http://www.youtube.com/watch?v=bwrWUlq7Xk4

Comment by Todd David on January 2, 2013 at 5:50pm: I know, I'm preachin' to the choir, but Its the spending!!

Comment by Debrajoe Smith-Beatty on January 2, 2013 at 5:27pm: We will go through the same thing in February because Obama, although he says no, enjoys the games he plays with the American people.

Comment by Fisherman on January 2, 2013 at 5:01pm: Jay, I thought Captain Taggert said that. LOL

Comment by Lawrence Bates on January 2, 2013 at 5:01pm: The Constitution of the United States of America has been amended in a whole new way. Article l, section 7, which says; “All bills for raising revenue shall originate in the House of Representatives, but the Senate may propose or concur with amendments as on other bills.”, is hereby amended in place to say; ”All bills for raising revenue shall originate in the House of Congress under the fullest control of the Democratic Party. Furthermore, the Constitutional power to make this and all other such amendments is hereby given retroactively to the Democratic Party and only the Democratic party by virtue of this amendment. The existing language in this Constitution concerning the procedure for Amending this Constitution shall remain in full effect for Parties other than the Democratic party.”

And the big spenders in the Republican leadership just go right along with it. What’s wrong with this picture?

Comment by Jay Kay JK on January 2, 2013 at 4:54pm: Mega Dittos Erich! Like Churchill once said " Never,Never, Never, Never Give Up!"

Fiscal Cliff Song http://www.youtube.com/watch?v=VQy0iwh_0Yc&feature=youtu.be