Friday, November 30, 2012

The "Fiscal Cliff" Show Is Not the Only Government Financial Show in Town

President Barack Obama will not sign any agreement that does not contain a debt limit hike, Senate Majority Leader Harry Reid of Nevada told reporters after meeting with Treasury Secretary Timothy Geithner.

Further, what the President really wants is to be permitted to unilaterally raise the debt ceiling unless Congress affirmatively votes to stop him.

This should tell you a lot about the "Fiscal Cliff" debate and its impact. Taxes will be raised regardless of how the Fiscal Cliff is resolved, but that won't mean an end to government deficit spending. That's why there is so much focus on the debt ceiling by the President, he wants in the future  to blow through debt ceilings without having to go through Congress to do so.


  1. So how many good lil' libertarians were spoon fed the mantra... "Oh, those baaaad republicans are just the same as those evil demos!" and were convinced by their idol to not vote against the dems' idol !???
    I'm going to stand on my principles (warped though they be) and NOT CAST a vote against bo, to show those baaad repubs a thing or two. Now what is my AMT ? What, I am a traitor ?!? Oh, don't be silly !! I am a PRINCIPLED libertarian ! The kind that Pravda described (illiterate citizenry !!) that handed bo my and all other Americans' wallets !

    1. My god, it's full of "duh"

    2. What are you talking about? Gary Johnson's 1% would not have given the victory to Romney. Furthermore, Romney's proposal to increase the military budget by $2T would have brought about huge debt increases too. Yes, Obama is horrible, but you're kidding yourself to think that Romney would have been our savior.

    3. Who's my idol? Who's your idol?

      It's never a pleasant truth to consider, but the train has long left the station, friend. We didn't just miss it.

    4. Sigh...

      Hey, Anonymous (should I use CAPS so you know I'm really, really, really serious??), pay attention:

      "Further, what the President really wants is to be permitted to unilaterally raise the debt ceiling unless Congress affirmatively votes to stop him."

      Where do you think Obama got the idea? If you weren't sleeping during the last debt ceiling hike fiasco, you would know that this was Mitch McConnell's brain dead idea.

      Why would he propose this? Why because the spineless, moronic Republicans actually had the votes to stop the debt ceiling from being raised. It is far too much to ask; however, for the Repubs to actually put their money where their mouth is. By proposing this, the Repubs could jump up and down and stamp their feet like good little adolescents do, and claim they are against raising the debt ceiling, but are powerless to do anything about it...

      It was, and is, pathetic.

      This is one of many reasons that I, as a Republican who has been voting for over 25 years, hates the national party, and did not vote for the Republican candidate, and won't as long as they refuse to actually even attempt to do that which they profess to want.

      If you think for one second that the Republicans aren't going to cave and raise the debt ceiling, then you haven't been paying attention.

      If the Republicans aren't going to vote against raising the debt ceiling, then why not give Obama the ability to unilaterally raise it? At least we would be spared the vomit-inducing theater.

    5. +1,000,000 from me. The national/ federal GOP is full of $hit. They would approve Hitler if he paid lip service to their plans. Quislings.

    6. Hahahahahaha!!!

      There is nothing better than listening to the idiotic nerd rage coming from the republicans. I could laugh at their pain all day long.

    7. Fortunately, neocons are never known for wiping their asses with the constitution, growing the state once in power, raising the debt and government "revenue", aside from starting costly wars.

      You're probably also angry that so many people stop believing in Santa Claus when they grow up.

      Oh, and libertarians can't be traitors because they're not nationalists nor collectivists. So you're barking up the wrong tree with that "traitor" horse-shit.

    8. This is incoherent babble!

  2. Anonymous: those who don't learn from history are doomed to being had every time. Are you seriously suggesting that with Romney in charge anything would be different? The guy is every bit as socialist as Obama (Romneycare, anyone?) and serves the same masters.

    No, we want the unfolding disaster - which no puppet-in-charge can stop - to be laid firmly at the feet of the openly socialist fraction; to have the collectivism discredited as deeply as possible in the eyes of those who aren't capable of learning from other people's mistakes.

  3. as if romney would be any better

  4. I'm not sure why Obama's threat on the debt ceiling is particularly surprising. A president who assumes the power to create kill lists, indefinitely detains and tortures people who haven't been charged, drone strikes with impunity, and wages war without a hint of Congressional approval, probably doesn't think twice about a debt limit.

  5. Robert Wenzel:

    Hey Wenzel, just wanted to say thanks for posting so many articles throughout the days. It seems like no matter how often I visit this site, there is always a new article.



    1. Geoff-

      I came here when he first started and was shocked at how few comments he had. Now he an barely keep track! He is approaching 1M hits/month and he deserves every one!

      I've met him, and he's a cool guy. Now, we just need to get him to 10M hits/mo!

  6. Obama is doing his X-mas shopping for the country.