Washington already drove us off the fiscal cliff while no one was looking.
Gov. Bobby Jindal
As the nation eagerly awaits Washington’s solution to the so-called fiscal cliff, and as the negotiations continue back and forth in both the media and in reality, here are a few thoughts for consideration.
Today it’s the fiscal cliff, but that surely will not be the end of it; next year it will be the fiscal mountain, after that the fiscal black hole, and after that fiscal Armageddon. But the truth is Washington already drove us off the fiscal cliff while no one was looking. A nation that has a $16.3 trillion debt, a debt that is larger than our entire economy, has already driven through the guard rail and is in free fall with the cliff somewhere in the rear view mirror.
I had the honor of serving in Congress. Here’s what I learned – there will be no significant change without structural reforms. That’s the polite way of saying it. The less gentle version is that Congress and this administration are psychologically incapable of getting our fiscal house in order without laws that give them no other alternative…
The editorial continues at Politico.
Related: Woodward: Obama owns recession, going over fiscal cliff [video]
Update: Socialist Senator says GOP Senate ‘undemocratic’ for resisting Obama All hail Obama Rex
Here is video of noted conservative economist Art Laffer predicting “the economy is going to be really bad in 2013″ thanks to the higher taxes, bigger spending policies of Barack Obama. Laffer said Obama will win his battle for raising taxes, and he thinks the Republicans need to pass a bill in the House extending the current tax rates for all Americans. That way, Democrats will have to go on record supporting a separate piece of legislation that raises taxes, which Laffer said will “Make them own it.”
Laffer pointed out there will be 33 Senate seats up in 2014, and predicted Republicans will retake control of the U.S. Senate because the economy will be terrible in 2013, 2014 under Obama and the Democrats.
Update 2: NY Times reporters: ‘They are so much cockier now at the White House.’ [video]