Let’s Go Head First Off The Fiscal Cliff
Much has been said about the so-called ‘fiscal cliff’ and the negotiations that go along with it since President Obama’s re-election. One school of thought is that the GOP should give President Obama and Democrats everything they want as a means to hold them accountable for the disaster that will follow because if no deal is reached, they’ll get the blame anyway. President Obama even suggested that, because he won re-election, he should get everything he wants because the voters are clearly with him.
But what exactly is it that he thinks the voters want? Apparently it’s this:
According to sources on Capitol Hill, the White House wants Republicans to pony up $960 billion in immediate tax increases, which will come from hiking the top marginal rates and increasing capital gains and dividends taxes. That is just for starters. The administration also wants the GOP to surrender an additional $600 billion in revenue via later tax reforms.
The president’s team specified no amounts or details on spending cuts. Rather, the White House wants more spending: at least $50 billion in new stimulus, an extension of unemployment insurance, a one-year deferral of the sequester, new money to refinance underwater mortgages, a Medicare-doctor fix . . . and a partridge in a pear tree.
Oh, the White House also wants Congress to give Mr. Obama the authority to increase the debt limit, whenever he wants, as much as he wants.
Sounds like he wants an awful lot, huh? You would think that by demanding that much from Republicans, he must be really willing to agree to some serious changes in entitlements and big cuts in spending, right? Yeah… not so much:
What do Republicans get in return? Next year, the White House will agree to talk to the GOP about cutting as much as $400 billion from entitlement programs. Maybe. If Democrats get around to it. Which they won’t—because they’ll have everything they’ve wanted.
Exactly right. There is no need for him to do anything else once he gets everything he wants. So why even bother at all? President Obama’s ‘proposal’ proves he isn’t serious about the ‘fiscal cliff” and, to be honest, I’m not sure anyone in the GOP is serious about it either. To that end, I say we do nothing. Nothing at all. No additional legislation. No negotiations. Nada. Zip. Zilch.
This so-called ‘fiscal cliff’ was signed into law by President Obama on August 2nd, 2011. It’s Public Law 112-25. You might know it better as The Budget Control Act of 2011.
Did the GOP House Pass it? Yep. So did the Democrats in the Senate. Then President Obama signed it into law. And guess what? The people sent the GOP back to the House, kept the Democrats in charge of the Senate, and gave President Obama another 4 years.
Shorter version? The people re-elected the folks that created the ‘fiscal cliff.’ So why are we now trying to rescue them from what they created? Even if they do reach some kind of deal, we’ll be right back in this same spot a year from now with this same fear-mongering nonsense.
The time for kicking the can down the road is over. It’s time to stop saving people from their electoral choices and let America sleep in the bed it’s made, or as I call it, the William Wallace Plan:
Going off the fiscal cliff may be the only way things ever actually change.