Matthew Boyle
The Daily Caller
11/11/2012
Louisiana Republican Rep. John Fleming told The Daily Caller that, ever since President Barack Obama’s re-election last Tuesday, he has been advising Americans to play it safe financially because he believes the economy — and the state of the country — may soon get much worse.
Fleming said he’s telling concerned constituents and business owners to “not extend yourselves in debt, make sure that you pay off things, don’t get into debt with credit cards, stay as liquid as possible. Don’t take risk, and don’t get into debt. You need to stay less vulnerable economically over the next two to four years, in hopes that the economy will sort itself out, and that Washington will get its act together.”
Fleming said he thinks the presidential election was hardly a mandate for Obama’s liberal policies, or a populist rejection of Republicans’ conservative ideals.
“I think always, when you have a candidate promising free stuff, and another promising less stuff or nothing, the one who promises more is always going to have the advantage,” he said. “The problem is that we’ve been doing that for about five decades, and it’s getting us into serious trouble.”…
…Ultimately, Fleming said he thinks President Obama should be the one who compromises with House Republicans – not the other way around…
The complete article is at The Daily Caller.
Also at The Daily Caller, Federal debt per household skyrockets in last three years
…Congratulations on successfully appealing to voters with crude, brutish messages of personal gratification, thereby finalizing your blueprint for America’s economic downfall……Congratulations on carefully avoiding the biggest fiscal problems we face, from entitlements to a debt-to-GDP ratio that has long since passed the historic danger zone. As an aside, if I were you, I would be preparing your families with near-term (under five years) plans for economic upheaval and possible societal unrest. I say that not because I desire anything of the sort, but because we seem to have reached a tipping point where more citizens want free contraceptives and EBT cards than believe in the American dream…
The Bush-era income tax rates will expire at the end of the year. That is only one of a number of financially significant–some say cataclysmic–deadlines that occur around year end: the payroll tax holiday ends, the alternative minimum tax patch will expire, $36 billion in Obamacare taxes will take effect, tax extenders will expire, the (minimal) 2009 “stimulus” tax cuts will run out, the inheritance tax will increase, and 100%…
