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Risk Armageddon Now or Bring it on Later for Sure?

16 Jul

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President Obama is saying we face armageddon if there isn’t a debt limit bill passed and signed by August 2.  That, at best is only a half truth.

No doubt that if there isn’t a bill passed and signed that raises the debt limit we will be facing a very scary future.  Many bad things might happen.  The extent of the damage is somewhat controllable should the president  make some very hard decisions.  I’m not at all convinced he has it in him to do that.  In fact, some say he would be quite happy to let the worst happen.  I don’t believe that but his past practices don’t leave me with much confidence either.

What he isn’t clearly saying is that if we do as he asks, i.e., throw some increased taxes in the mix, an even worse armageddon (if there is such a thing) would befall this great country.  Raising taxes during tough economic times is precisely the wrong thing to do.  He even said that last December when the Bush tax cuts were being debated.

Taking money away from those that are generating the jobs and those that are out buying things is ludicrous.  Generating more tax payers is the best way to increase the government’s revenues.  Somehow he doesn’t seem to get that.

We don’t know exactly what he is willing to cut.  He talks a good message or at least reads a good message off his fifth appendage (his teleprompter).  But again, past practice suggests that he isn’t willing to follow through on his proposals.  I would guess that is why he is being so vague when he suggests proposed actions.  My suspicion is that the republicans sitting at the bargaining table can’t figure out what he is proposing and that simply strengthens their resolve to hold firm on no new tax increases.

The fact of the matter is, if the debt limit is raised without significant cuts in our spending we are heading into armageddon pretty quickly anyway.  Each day that goes by makes the cutting more difficult.

The time to act is NOW.  The timing has never been better.  In spite of the President’s statement that 80 percent of Americans want his approach, the facts don’t bare him out.  Most Americans fear that our spending is out of control.  Let’s take care of that first, then when the country is back on its feet, we can debate whether or not our taxes are too high.  Or, better yet we can talk about throwing away our current tax code and replace it with a more efficient and effective flat tax.  One that doesn’t require a legion of tax lawyers to figure things out.  Laying off a bunch of tax lawyers and IRS enforcers would be a good way to get the rest of the unemployed back to work.

So let’s change the democrats “pay me now and pay me later” position to “cut the budget now or go over the cliff and join the little old ladies already on the rocks below.”

 

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