AJStrata @ The Strata Sphere:
How does that old proverb go? Watch what you ask for – you just may get it!
Americans voted in 2012 for the party of big government – and by extension the party of big deficits and big taxes to fund their big government fiction!
And so here we are, ready to go over the so-called cliff as we enter 2012. But what really is the cliff?
Well, it’s a paltry ~$109B or so in mandatory spending cuts, which won’t even put a dent in the annual deficit now running around ~$1.4 trillion a year. That can’t be what all the caterwauling is about.
This kind of spending cut can easily be absorbed, so what is all the hand wringing about? This man:
What the Democrats and media are all exercised about is a return to the tax rates of Bill Clinton and Al Gore! See here for one of their latest Drama Queen moments:
As President Barack Obama cut short a Christmas vacation to resume talks to avoid the “fiscal cliff” of automatic year-end tax hikes and spending cuts, the White House on Wednesday called on congressional Republicans not to stand in the way of a resolution in the U.S. Congress.
“It’s up to the Senate Minority Leader not to block a vote, and it’s up the House Republican leader, the Speaker of the House … to allow a vote,” a senior administration official told reporters traveling with the president.
I say block everything and anything from this lame duck Congress. Don’t give the new Congress an inch of cover. They were elected, let them work their wonders.
Over the cliff we go. It won’t feel too bad. Much to much hype.