Wednesday, April 28, 2010

Obama's Debt "Reduction" Panel

I already called BS on this debt commission, and the more I learn about it the more certain I am that I was right.

The commission is scheduled to make its report by Dec. 1, about a month after the midterm elections. It is charged with recommending ways to reduce the deficit in the fiscal year 2015 to the equivalent of 3 percent of the gross domestic product or less — nearly a percentage point smaller than it is now projected to be in that year. The panel is also to recommend long-term changes in taxes and spending for the major entitlement programs — Medicare, Medicaid and Social Security — whose expected growth is the biggest factor in the deficit forecasts.

This horseshit commission isn't worth the expensive chairs I'm sure they're sitting in. They aren't even trying to balance the budget or decrease our debt, they just want to grow the debt more slowly. Thanks for nothing assholes.

I'm sure their solution will be to raise taxes. After all, comrade Obama has just saddled the American people with the Health Care bill, which we will be paying for long after we're dead. Fantastic.

Are we cutting Medicare? No, we're expanding it. Are we cutting Social Security? Yeah right, old people vote. Are we cutting the Military? Fat chance, we have to build new bombs to replace our old bombs, oh and we put more people in Afghanistan, oh and that Iraq thing is still going on.

Also, notice the scheduling of the commission's report--AFTER the elections. They know the report will be ugly, because once the rest of America wakes up to the giant pit we've dug for ourselves, they will be just as mad as I am right now.

Fuck it. I'm beginning to believe that the only way out is to spend all our money, then max out all our credit cards, until no one else will lend us money and all our checks start bouncing. Because until then, nothing will change.

1 comment:

  1. Mankiw posted a good point the other day. Marginal tax rates would have to increase 40% across the board to get us to the aimed for level of debt.

    I'm personally in favor of a combination of cutting spending--mainly in defense--and revenue increases--carbon taxes or cap and auction, VAT's, a gas tax, and increases in income taxes.