So Boehner plans to introduce a bill on the House floor that increases the top marginal tax rate on those earning more than $1 million per year. Most likely, Boehner and Obama will ultimately agree on a deal that splits the difference between $400,000 and $500,000. Many Republicans will shrug their shoulders: “Who cares about a few rich liberals?” However, this rationale represents a shortsighted | Read More »
A common tactic used by someone who fears confrontation is to contrive an excuse for not battling his adversary at the present, while promising to deal harshly with him in the future. That’s how the GOP has operated with Obama in all of the budget battles over the past two years. It’s always ‘the next fight.’ There is an emerging consensus from some conservatives inside | Read More »
To mix metaphors, Republicans are going to have to fall on some sword with this whole fiscal cliff jazz. All of us Conservatives would like to hold firm to not raising taxes. Reality it is, it ain’t gonna happen. Deal with it. Give the President what he wants on a tax hike. Just give it too him. Be done with it. Lest you think I am | Read More »
The fundamental error in the drama unfolding before us about the fiscal cliff is that there is a mismatch in negotiations: The House Republicans are negotiating to bring about an end to the fiscal crisis, while the Democrats in the Senate and the White House are negotiating the terms of the surrender of capitalism and the full bore onset of redistributive socialism. In essence, there | Read More »
Here are two things to keep in mind with regards to Boehner’s budget offer. First, when you begin negotiations agreeing to 60% of the demands of the other side and fail to offer a bold contrast on the other 40%, you are headed for an outcome that is 80-90% favorable to your opponent. Second, when you need to outsource your budget plan and entire view | Read More »
For those of us who are not schooled in the ways of Washington, here is a glimpse into the duplicity of the “budget savings” as part of the fiscal cliff negotiations. House Agriculture Chairman Frank D. Lucas has raised hopes that Congress might still be able to produce a multi-year farm bill soon, possibly as part of a package to block impending tax increases and | Read More »
Last Wednesday, speaking in reference to Grover Norquist’s tax pledge, Senator Saxby Chambliss revealed himself to be a big government statist. Then again, we always knew that. He told a local TV station that if we hold the line on the anti-tax pledge, “then we’ll continue in debt, and I just have a disagreement with him about that.” This line of thought is emblematic of | Read More »
So it begins. As we discuss our menu of options in dealing with our ever-expanding budget deficit and public debt, we really have no good options. Boehner and McConnell seem ready to cave to the Dems, as usual. That will mean increased taxes without the necessary spending cuts. The result will be continued economic decline (possibly collapse) while the debt continues to grow out of control. | Read More »
Last week, I was watching the House debate over the sequester replacement bill, and was struck by the effectiveness of Chris Van Hollen’s attacks against the Republicans. Their absurd gyrations of ideological inconsistency have exposed them to pungent attacks from Democrats. Honestly it’s hard to defend them against those attacks. Pursuant to the Budget Control Act – the absurd debt ceiling agreement from last year | Read More »
As we noted earlier this week, the Continuing Resolution voted on in the House will increase spending, fund Obamacare, and extend the main welfare program without forcing Obama to reinstate work requirements. This bill is really an embarrassment to everything House Republicans professed to stand for. It will delay the major battles until March 27, 2013. And let me tell you, they will really really | Read More »
Get ready for another weak ground out into a double play in the upcoming budget battle. Shortly before the August recess, we reported that Republicans planned to pass a clean 6-month CR which funds Obamacare and appropriates $1.047 trillion in spending – commensurate with Obama’s request instead of the House budget. The idea behind the “deferment” strategy was twofold; to delay the major battles to | Read More »
They’re back! Congress is back in session after the August recess, but they will only be in town for a few weeks. While conservatives are usually happy with the idea of Congress staying out of session, there is much on the agenda we must pursue in order to undo Obama’s destructive policies. We must not squander our time on suspension bills banning the sale of | Read More »
Now that the gross federal debt has smashed the $16 trillion milestone, more people are focusing on the gravity of the debt crisis. However, too many people are being exposed to the spurious idea that it’s only the public share of the debt that counts. Many liberal economists are saying that the non-public share of the debt is “money we owe ourselves,” and is inconsequential | Read More »
The Congress doesn’t cut spending and balance the budget because they can’t. Not even if they remove every department and employee including the military.
So says Hal Mason in the shocking accompanying video titled, “United States Budget Dilemma.”
President Obama, in his proposed Fiscal Year 2013 budget, would spend $3.8 trillion. But the federal government will only collect $2.5 trillion in taxes, resulting in a deficit of $1.3 trillion. That $1.3 trillion is an amount larger than Congress appropriates to operate the federal budget.
The problem is easily stated; spending on mandatory programs and interest is greater than taxes collected. According to Mason, in order to balance the budget, Congress would have to raise taxes 50 percent or eliminate the federal government.