Beeho's fiscal cliff strategy

[Singlestack]

Watched fox news a few minutes ago. Focus was on a press conference with Jay Carney, who said Beeho wants to get the tax increases approved now, but defer discussion on spending cuts and entitlement reform next year "since they are such complex topics". This explains the lack of a dem plan for spending cuts/entitlement reform. Pretty darn clear they have no intention of doing either - this is a repeat of the (successful) strategy used in the Reagan and Bush I administrations, when the Republicans caved on near-term tax increases in return for future spending cuts that never happened. Sadly, I fear this might actually succeed, as Boehner seems to want to not be blamed, although he will no matter what he does.

Peter Schiff's take is not only should we not avoid going over the fiscal cliff through sequestration, but in fact it is necessary to get any sort of meaningful spending cuts in the near term. Schiff is one of the very few who accurately predicted both the tech bubbles and housing bubbles bursting. He acknowledges there will definitely be pain, but the pain will be much worse if we don't make the cuts at all. http://www.europac.net/media/video_blog

I'm really not surprised about this - Beeho is pure politics, all the time - and his victory is when republicans get blamed for anything. My sense is sequestration won't happen and some sort of deal will be struck - but the deal will most definitely not be good for us.

Singlestack

[Bailey Guns]

I agree. Falling off the cliff will result in pain. But it's going to happen eventually. I'd prefer the house republicans tell Obama, Pelosi and Reid to go fuck themselves. Falling off the cliff can't be any worse than what's eventually going to happen anyway. We just have to endure all the bullshit hot air outta DC, in addition to the fiscal pain, if we wait. I can do without the bullshit.

[Ronin13]

$497 Billion in proposed cuts over the next 5 years, tack on an additional $500 billion next year from sequestration and you have yourself an American military that can't even afford to take a dump AND wipe... That's what I see being a pretty horrible thing, but made worse by the cliff.
I agree, Carl, Obama wants to raise taxes, he's going to raise taxes. The cliff will see a rise in taxes. It's a lose-lose any way you cut it. "Raising taxes during a recession really helps!" -Said no economist, ever.

[TS12000]

Oh they have strategy? News to me. Also, adding to the library long tax code isn't difficult? Sounds just like local "temporary tax increases" that never go away

[speedysst]

Of course Obama has a plan and he's spouted it all along. "Tax the "rich" more and hope that works." Thats pretty much it. What you people fail to realize is that if there is no budget, there is no way for Obama to overspend on that very budget. Pure genius.

[Bailey Guns]

Obama believes the "tax the rich" bullshit as much as he believes in smaller gov't. It's not a strategy, it's pandering to his base and it works well for him...that's what's important to Obama. I know you're being a little tongue-in-cheek with the "can't overspend if you don't have a budget" remark...at least I think you are...but, yes, he can overspend. That's why congress is constantly having to raise the debt ceiling. Furthermore, Obama's base couldn't give a rat's ass about budgets...there's enough in the budget for Obama-phones and other handouts and that's what matters.

[speedysst]

You are correct sir about my tongue-in-cheek budget comment though, in an attempt to emulate the government, I have also raised my debt ceiling and will be attending the next Tanner Gun Show with a wallet full of promisory notes.

[Singlestack]

Very true. Beeho has constantly demonstrated his motivation to be accumulating more and more political power. Has nothing to do with the USAa well being. The additional revenue raised by taxing the rich raises something like $80B - enough to fund the fed gov for about 9 days - but won't reduce the deficit at all. Beeho knows that very, very well, but doesn't care. If he cared, he would be all over taking steps to reduce spending - not saying "we will deal with it later...".

Singlestack

[nynco]

Heres the plan that will work, go Back to the Eisenhower tax rates (last best Republican president) Problem solved in no time.

[Sharpienads]

Here's the plan that will work: The central government sticks within constraints of the constitution.