Now that the debt ceiling has been raised, if I take one message out of listening to the three stooges speak today (Obama, Reid and Durban), the Republ;icans need to gear up for a big battle over tax hikes. Yes, the class struggle will continue as the Democrats keep working to redistribute wealth.
If I hear one more reference to "corporate jets", I think I'm going to bounce off the wall. There was Harry Reid referring to those corporate jet owners who have to share the sacrifice or something like that. There was Dickie Durban referring to rich people paying their fair share. And then came Obama stepping up to Podium One on the steps of the White House and echoing that theme. He even talked about helping businesses hire more people (by taxing them). You talk about talking out of both sides of one's mouth!
I wonder what I'll do.
He should be happy. Tomorrow he has his big birthday bash. At $40,000 a pop it should be a real gas. I wonder if he will mention millionaires and billionaires with or without private jets and yachts?
ReplyDeleteThe Democrats never saw a tax they didn't like. They became hysterical at the prospect that government spending might be reduced. The problem for them is that might not be able to pay off their constituencies ... government employees, single women, trial lawyers, unions, etc., etc., etc.
ReplyDeleteHow they can be adamantly opposed to a balanced budget amendment that would be a long term solution is beyond me. It means they want to continue the tax and spend strategy forever. At least until the country is bankrupt.
A balanced budget amendment would be disastrously wrong, because there are times when deficit spending is necessary, beneficial, and appropriate.
ReplyDeleteWorld War II was one of those times. We couldn't have won the war with a balanced budget amendment.
It can also be a useful way to get through recessions and avoid Depressions.
HOWEVER, the point we all agree on is, we cannot continue deficit spending EVERY year, without eventually running out of other people's money. We have to pay the debt back down in good times, as Bill Clinton started to do. That requires good judgement by legislators and an informed citizenry. It would be almost impossible to assure by constitutional edict. The amendment would be more complex than a Rube Goldberg contraption.