When you get right down to right down....
It's a Trojan Horse.
Obama offers to accelerate the bankruptcy of Social Security in exchange for:
1) No spending cuts
2) An un-funded spending increase (unemployment extension)
3) A tax on what's already been taxed.
At some point in time, the piper WILL be paid. Obama wants that to happen during his (presumed) second term, of course, when he will blame Ryan and Boehner--not to mention Bush.
To be fair, the "acceleration" of SocSecurity's bankruptcy is on the order of months, and probably under 6. Besides, the ChiComs will stop monetizing the "Trust Funds" via US Treasury purchases long before the OASI "Trust Fund" nominal value hits $0.00.
ReplyDeleteThat said, Admiral Ackbar put it best - "It's a trap!" Assuming Barack Obama negotiated in good faith (something I doubt because both Nancy Pelosi and Harry Reid, who each have the power to stop it, weren't even part of the negotiations), the best that can be said is that it kicks things down the road for 2 years.
Gee Dadster.
ReplyDeleteYour boyz had the opportunity to offset all of these new tax cuts with cuts in spending. As always, this wasn't even mentioned as a bargaining point among GOP leadership. Just cut taxes, cut tax revenues and don't worry about offsetting them with cuts to the budget.
Just more reason to believe that the deficit reduction "movement" is just a complete sham.
P.S. If the Chicoms wanna stop financing our debt, let them. That would be a positive for us.
Mutually assured financial destruction.
ReplyDelete