THE FISCAL CLIFF FROM THE VIEW POINT OF MULTIPLE SOURCES

12/22/12
The game plan at the lip of the cliff: Obama’s goal is to raise taxes, and how he does that is of small consequence. He is determined not to cut spending. This has become clear enough to all. He will have redeemed FDR’s famous mantra – “Tax and tax, spend and spend, elect and elect” – Romney’s infamous “47 percent,” the Americans who get a monthly government check, will balloon toward a hundred percent. Obama reads the November 6 election result as a landslide, though 51 to 49 is far from a landslide. Obama’s vision of America is one he learned in his community-organizing days. The president’s intelligence chiefs have given him the “good news” that by the year 2030, only 18 years from now, the United States will no longer be the world’s great superpower. “In terms of the indices of overall power – Gross Domestic Product (GDP), population size, military spending and technological investment – Asia will surpass North America and Europe combined,” reports the National Intelligence Council of the Office of the Director of National Intelligence. That mouthful of titles and capital letters comprise the president’s own intelligence gurus.
Nevertheless a man of the third-world attitudes and sensibilities inherited by birth, nurtured when he grew up in Indonesia, and it’s just these sensibilities that endear him to sordid allies on the left who dream of a world liberated from American example and influence. Envy and covetousness are powerful emotions, easily manipulated, and Mr. Obama is a master of manipulation. Demonizing a neighbor in a bigger house who drives a new car is easy work. Republicans have done a lousy job of explaining that many, perhaps most, of the “rich” Americans and these small businesses are one and the same. That’s why abusing small businesses is likely to send the country reeling into another recession at the bottom of the cliff.

‘$3 TRILLION TAX INCREASE ON MIDDLE CLASS’
The first act “is to get congressional Republicans to put their fingerprints on what amounts to a minor tax increase.” “After raising taxes on the rich a little bit, the Democrats will come back for serious tax revenue,” he said. “In acts two and three, the Democrats will come back for the real money – an energy tax and a value-added tax that will impact everybody, especially the middle class.” A game designed to blame Republicans for budget deficits and keep serious discussion of spending cuts and entitlement reform off the table. Democrat strategy risks a tax revolt. “The size of Tea Party Two is going to dwarf Tea Party One,” At the center of criticism is the anti-tax pledge that Norquist has persuaded 95 percent of Republican lawmakers to sign. Democrats “have no intention, whatsoever, in seriously talking about spending restraint.”
Norquist dismissed such statements as an attempt to misdirect the attention of the American public from the real issue at hand: runaway federal spending, not a failure to raise taxes. Republicans in Congress would be against raising taxes. Why? Because raising taxes would be bad for the economy.” “Because the Democrats in Congress have no intention of talking about entitlement reform,” he said, “the liberal press rolls out the usual list of Republican. Congress will not raise taxes to avoid going over the fiscal cliff, because the Republican majority in the House is the last line of defense. The Ryan plan was passed by the House April 15 by a vote of 235 to 193, with no votes from Democrats. The Democrat-controlled Senate voted it down a month later, 57–40. The bill sought to reduce the 10-year federal deficit by capping discretionary spending and dismantling Obamacare.
Over the cliff in a barrel:
The latest Republican gimmick is to split the difference on income-tax rates between the current rate of 35 percent and the Clinton-era rate of 39.6 – and with substantial cuts in government spending. He has read the fear in Republican eyes and he’s willing – maybe eager – to jump off the cliff in the sure and certain confidence that with the compliant mainstream media at his back, he can successfully pin the blame on the Republicans for the consequences. He can even promise spending cuts, secure in the knowledge that he won’t have to actually make them. Promises are a sucker’s game, and there’s no shortage of suckers. Mr. Obama clearly wants to humiliate the Republicans. There’s no longer an argument over whether to raise taxes, only by how much. They know in their hearts that actual spending cuts are a pipe dream. Raising taxes first, cut spending later, is a scheme that has never worked. The Republicans, including the speaker, are negotiating as if they actually believe that President Obama is negotiating in good faith. The speaker’s offer of $800 billion in new taxes sank without a salute. Obama’s reelection now sets the stage for class warfare as a potent and necessary tool to promote rebuilding the economy form the bottom up rather than perpetuate the right wing’ failed trickle-down policies.
OBAMA AT ‘MAX DAMAGE POTENTIAL’ RIGHT NOW:
He can inflict the greatest damage possible for the purpose of transforming the country from capitalism to Western European socialism,” Limbaugh was commenting on Obama’s push for tax increases as Republicans continue to negotiate with the Obama administration on how to prevent plunging off the so-called “fiscal cliff. ”In 2010, Obama said taxes should not be raised, fearing it would harm the economy. Hovering in the background of the “fiscal cliff” debate is the prospect of 2 million people losing their unemployment benefits four days after Christmas. Limbaugh says neither political party wants to be blames for the loss of jobless benefits during the holiday season, so he expects them to be extended without a fight. “The real irony is, unemployment benefits are ending because unemployment rates are falling. It’s the way the law was written,” said Limbaugh. “States with jobless rates below 9 percent are losing their extended benefits. It was originally written, and this made perfect sense, that the unemployment compensation extensions would end as the employment situation improved. “since the collapse of the economy in 2008, the government has poured $520 billion – an amount equal to about half its annual deficit in recent years – into unemployment benefit extensions.”
AMERICA’S COMING FINANCIAL CATASTROPHE
View the 2013 budget from a high level, The budget is 3.8 trillion..Projected revenues are $2.5 trillion. That leaves a $1.3 trillion deficit. The deficit will be borrowed – on top of more than $16 trillion in existing debt. We’re no more than weeks away from action by Congress – including the Republican House – to raise the debt limit again to permit this insanity to continue. The budget just keeps on growing, sustained by endless borrowing. In a few years, we’re headed to debt exceeding 26 trillion.
Republicans say they’re against it. And they have the power to stop it. But they keep on raising the debt limit, which simply postpones the day of reckoning and the kind of catastrophe we see in Greece, where the people are burning down banks with citizens inside. As Mason points out, the projected revenues next year are scarcely enough to pay for what Washington has determined are “mandatory programs” – entitlements that just keep on growing. The debt now exceeds America’s entire gross domestic product.
The federal government will not discipline itself unless Americans demand it. Americans elected Republicans to control the House of Representatives because they pledged to stop borrowing and spending. Now’s the time to hold them accountable.

Sources—wnd, joe farah, joe kovacs, rush, Wesley pruden, norquist, Jerome corsi,

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