Washington proves again it’s incapable of course correction.
The Orange County Register
The politics of the “fiscal cliff” deal is debatable: On the one hand, Boehner got the “Bush tax cuts” made permanent for most Americans; Obama was forced to abandon his goal of increasing rates for those earning $250,000. On the other, on taxes Republicans caved to the same class-warfare premises (the rich need to pay their “fair share”) they’d successfully fought off a mere two years ago; while on spending the Democrats not only refused to make cuts, they refused to make cuts even part of the discussion.
Which of the above is correct? Who cares? As I said, the politics is debatable. But the reality isn’t. I hate to keep plugging my book “After America” in this space, but if you buy multiple copies they’ll come in very useful for insulating your cabin after the power grid collapses. At any rate, right up there at the front – page six – I write as follows:
“The prevailing political realities of the United States do not allow for any meaningful course correction. And, without meaningful course correction, America is doomed.”…
…The Congressional Budget Office estimates that the latest triumphant deal includes $2 billion of cuts for fiscal year 2013. Wow! That’s what the Government of the United States borrows every 10 hours and 38 minutes. Spending two months negotiating 10 hours of savings is like driving to a supermarket three states away to save a nickel on your grocery bill…
Read the entire article at The OC Register.
…“The president says he isn’t going to have a debate with us over the debt ceiling,” Boehner said, according to a source. “He also says he’s not going to cut spending along with the debt limit hike.”…
RAND PAUL Shocker: I’m Not Sure There Was Ever a Bill! I Was Told It Was Online at 1:36 AM. We Voted at 1:39 AM” [video]
Update: Mark Steyn: Biden-McConnell fiscal cliff negotiation ‘deeply embarrassing,’ ‘a mark of shame’
H/T Joe Miller who has video of the Steyn interview with Brian Kilmeade.
Update: Video: How Corporate Tax Credits Got Into the ‘Cliff’ Deal Strange how corporate welfare for the President’s donors tends to get slipped into almost every deal . . .