Sunday, December 2, 2012

America’s fiscal cliff and the President’s “balanced” solution

This is an excerpt of an article I wrote for
Excerpt:  President Obama, Harry Reid and the Democrats in the Senate, have, for three years, refused to pass, or even seriously propose or discuss a budget as required each year by law. This has necessitated the need for continuing resolutions to keep our government running as it reaches its borrowing limits. Following the last debt ceiling crisis, the plan for sequestration was enacted as an incentive for Congress and the President to enact legislation that both parties believed would put us on a sustainable economic path. The January 1, 2013 deadline looms, as the can has once again been kicked down the road.
Each time, the Democrats have used the debt crisis to demonize the Republicans, as the President is doing now, blaming them for the stalemate. This is both a political and tactical maneuver to advance his liberal, progressive spending goals and he has no intention of changing direction.
The President campaigned on a “balanced approach” to the crises that he and the Democrats created. His proposal, as presented by Treasury Secretary Geithner, was to increase taxes by $1.6 trillion, mostly on the job creators, spend an additional $25 billion on failed stimulus projects, defer the sequestration spending cuts and maybe reduce some “unspecified” entitlement spending. He also proposed the removal of the requirement for Congressional approval for debt ceiling increases.
Read my full article here. 

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