Obama likens the economy to a car that Bush and the Republicans ran into a ditch and he is the only one that knows how to drive. This has caused many pundits to compare the fiscal cliff to the final scene in “Thelma and Louise” when to avoid arrest they drive off the edge of the Grand Canyon. I believe a more appropriate comparison would be the Chickie scene in “Rebel without a Cause”.
With Obama playing Dean the new kid at school desperately wanting to be cool. Who fought once and won with healthcare is now challenged to play chickie. Using a stolen car (the economy he didn’t build) against his arch rival the Republicans ,to race towards the abyss to see who will bail first. The contest is illuminated by the vehicles of the media who don’t see fit to report on the destruction this contest of wills can cause. Their only thought is to see their guy win at all costs.
So exactly what is this cliff that Obama Stark and Buzz Boehner are racing towards? Will planes fall out of the sky if we go over it? Will women need to stock up on coat hangers incase Planned Parenthood the referral agency closes its doors? Will our military be reduced to using guns with day glow tips if we don’t do something?
This latest bump in the road was agreed to by both Obama and Congress in 2011 in exchange for increasing our credit card limit on the national debt. The point was to make it so onerous that we would never reach this point. But what could strike fear in a politician more than losing reelection and his or her cushy job? How about a .25% decrease in the rate of growth of Government spending. That means for every $100 of growth in vote buying programs only $99.75 would be approved. This does not affect current spending. Would anyone reading this be sore if their $100 raise per week was reduced to $99.75?
In order to soften the blow Social Security, Federal pensions (Congressional) and veteran’s benefits could not be touched. In addition those in Washington will be allowed to confiscate 20% more in taxes just for saving all those quarters in the budget. This is accomplished by reducing the minimum wage paid to doctors serving the poor on Medicare, letting the Bush tax cuts expire, raising the SS payroll tax and adding taxes on frivolous items like wheel chairs, crutches, and pacemakers through Obamacare.
You can now see why it is referred to as a fiscal cliff. It would spell the death of many political careers if they depended on actual governance and not vote buying. It also becomes apparent why all the talk has been about not how much spending to cut but how much to raise taxes. If Washington does nothing the taxes and cuts are automatic and it will send a signal to investors that they like Greece are not serious about reducing spending. This would mean the treasury will have to purchase more than the current 70% of their own bonds and we could see another credit down grade.
In the original “Rebel without a Cause” you never see us the taxpayer belted into the back seat of the sedans racing towards destiny. You never hear both drivers arguing over what our fair share of gas money should be. You do see the media’s darling bail before the cliff in 2016 to retire in Hawaii with a protected federal pension.