1/2/13: The fiscal cliff deal almost wasn’t. The House passed it 151-85 with Majority leader Cantor, Whip Kevin McCarthy (Calif.) and Chief Deputy Whip Peter Roskam (Ill.). House Budget Committee Chairman voting against it and 2012 GOP vice presidential nominee Paul Ryan voting in favor of the deal. There are enough subsidies, stimulus and pork in the deal to add $4 trillion to the deficit in the next ten years with almost nothing in cuts to the increase in spending. The taxes will mostly hit people who make over $400,000 but we will all pay the higher payroll tax.
Let’s not forget that the Obamacare taxes hit hardest this year.
We are becoming Europe in every way and they are collapsing under the weight of the entitlement state.
12/31/13: President Obama just gave a speech on the fiscal cliff moments ago as he stood surrounded by middle class people, who served as the visuals for his propagandized political speech.
His speech was reminiscent of the threatening speeches aimed at the SCOTUS when Justice Roberts was trying to make up his mind about Obamacare.
It could be said he was pressuring Congress in the speech but it sounded threatening to some. He blamed Republicans for all the problems and assumed no blame on the part of Democrats who haven’t passed a budget in four years.
He spoke about a nebulous fiscal cliff deal currently being considered. It has no spending cuts and it increases taxes on individuals making $200,000 and couples who make $400,000. He referred to them as millionaires.
Unemployment benefits, which are known job killers, will be extended to 99 weeks. Subsidies for college will continue. Other spending is included in the package.
President Obama demanded that sequestration, social security and all spending cuts be removed as part of this deal so we can fight about them again at a future date.
Obama said that any future deals must include more taxes. He obviously plans another fight in a few months which will include the military, the debt ceiling and heavy taxation.
I will post the video of his speech later.