Here's something interesting to think
about. If the government does not come up with a budget plan
by December 31, a whole series of budget actions will take place
because of legislation Congress passed, and the President approved, last
summer. The reason that legislation passed was to put
a temporarily budget in place with both sides agreeing that the deficits
the government is running need to be controlled.
Ben Bernanke, chairman of the Federal
Reserve Board of Directors, told Congress that such massive cuts in
government spending would result in a recession because current economic
situations are weak. Now the President and Congress are arguing over -
get this - cuts to government spending. Apparently they are trying to
negotiate cuts in spending that are just different from the cuts they've
already passed.
What's the difference? Is it just a
matter of degree? If, as Bernanke said, the "fiscal cliff" we might ride
over on 12/31/2012 is going to be bad for us, why should we expect that
different cuts would be any better? So, we're going to roll down a
fiscal hill instead of falling off a fiscal cliff? Seems like much ado
about nothing. We're fucked either way.
When
the repugicans last controlled the government, they spent like drunken
sailors - approving two wars and a new part D for Medicare, none of
which they funded. Instead, they cut taxes for the wealthy. The national
deficit rose at a much faster rate under the "small government
conservatives" than it has under any Democrat.
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