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.