Austerity it is then. Spending cuts all around. Celebration time, come on!
I suppose because consistent austerity measures have failed so miserably in turning England's economic situation around...actually making the situation worse there....it's time to bring those failures to the Homeland.
While Democrats are not pure here, Republicans were the elected agents who planned this entire austerity caper. Take a bow conservatives and Republicans, you have successfully forced more economic misery upon the lives of average citizens who are already reeling from economic misery. Good job. Patriotic....oh, and extremely smart.
Recall that this entire goddamn ordeal started with the debt ceiling hostage-taking in August 2011. Something which had been routine in Congress for decades and decades.....lifting the nation's borrowing limit....was used by new confederate conservatives as an opportunity to do further damage to an already-crippled economy....with high hopes it would also do damage to a president looking to be re-elected.
At first, back when I first considered Boehner's comment about getting 98% of what he wanted in the debt ceiling hostage gimmick....I was perplexed. Upon further consideration, it became perfectly clear. Republicans had no intention of agreeing on ANYTHING inside the "super committee" which formed immediately after the debt ceiling agreement. All Republican members had to do was resist any form of consensus with Democrats on the committee....and then, $1.2 trillion in spending cuts would begin to kick in the first of 2013. All spending cuts....no revenues....just the way the Republican hostage takers wanted it all along.
That's why Boehner said he got 98% of what he wanted.
In turn, these austerity measures will be a drag on the economy ....
The recent CBO report projects real GDP growth to be a measly 1.4% this year, down from a rate closer to 3%, they claim, were it not for all the fiscal cuts baked in the 2013 cake.
Instead of 7% unemployment projections for this year, thanks to the sequester, unemployment will remain at 8%.
Everyone on both sides knew beforehand that this is what would happen if deficit reduction.....something that we should not be talking about at all until unemployment declines to 6%.....became the sole fixation of Congress. That means that Republicans, with the help of their Village servants, forced this crisis upon us arbitrarily and needlessly. The debt ceiling vote of 2011 became the convenient opportunity to manufacture yet another "crisis" that wasn't.
Again, the minority wins. The minority wanted severe austerity measures to keep hopes alive for another round of tax cutting for the rich...if not under the Kenyan Imposter, then under a President Huey Christie or Marco Polo Rubio. To prepare the way for a GOP president, Republicans have forced austerity measures of economic contraction upon the nation. Cut government spending during 8% unemployment, leading to higher unemployment. Higher unemployment will lead to a further degrading of workers wages. Low demand for workers equals lower wages for those workers.
Call me crazy....but it looks like the GOP strategy to do further damage to our economy by keeping unemployment high and workers wages low.....all while creating a sci-fy narrative that it's all the Democratic Obama's fault......is succeeding.
All that is left to complete the gutting of traditional America where work and workers were once both respected......is to do "tax reform." As uneffingbelievable as it may seem.....the end game in doing significant financial damage to millions of average working American families.....is tax reform.
You've heard Republicans talking about tax reform, haven't you? That's because tax reform is the real prize. What's the buzz phrase? Come on, join with me here...."broaden the base and lower the rates." That's it.
Broadening the base means taking away tax deductions, reworking the standard deduction so that average non-wealthy families wind up actually paying more in taxes. Some may disagree here, but I've already lived through one of these "broadening of the base" routines during Ronaldus Maximus. My butt is still sore from that one.
Anyway, this is called by Republicans, "having skin in the game." Don't believe for one second that "broadening the base" will do anything but place more responsibility on the average American family. That's a guarantee. But what happens after the base is broadened?
Tax rates are lowered.
The only goal, the only objective....the only purpose, really, for the GOP is to lower tax rates on the wealthy. In spite of the lowest tax rates on the wealthy in some 60 years, the GOP presidential candidate of 2012 ran on reducing the income tax rates on America's richest to 28%. Still reeling from the worst financial explosion since the 1930's.....and the GOP presidential candidate advocated for lowering the tax rates on our nation's wealthiest.
Post election....that's exactly where we're headed.
It matters not that millions of average American families will have to experience even more financial pain in order for Republicans and some ConservaDems to get what they want.
I mean, after all, the people who will be hurt are "takers" and "leeches and parasites" anyway, right?
About This Blog