Who Avoided What Cliff?

Tuesday, January 1, 2013
Posted in category Uncategorized

First, the legalized gangsters in the nation’s toilet raised the debt ceiling at the 11th hour so that the US government can borrow more and spend more, in spite of the looming budget carnage. Then they partied down into the wee hours of New Year’s Eve and agreed to further fleece our most productive people in order to keep the spend-a-thon sustained. New Year’s Eve was a convenient time for such fiscal buffoonery considering that the markets are closed until Wednesday. Still, with government spending zooming upward and spiraling out of control, the government is on track to exceed its borrowing limits, again, and within a month or two. Yet another cliff is ahead, and there will be yet another scheme concocted to avoid the cliff and ensuing economic collapse.

According to the Wall Street Journal, said Senate Majority Leader Mitch McConnell: “But I think we can say we’ve done some good for the country. We’ve taken care of the revenue side of this debate.” And what’s wrong with that statement besides the fact that these bastards think they did “good” for the country? I am going to argue that the bona fide definition of “revenue” is a return/yield from property/investment or income earned from the sale of goods, services, assets, etc., and not the modern, revised definition that includes government theft to pay for “expenditures.” If I steal from you, why is that not revenue? Why can I not be considered a self-declared government?

While for-profit businesses seek long-term strategies for bringing in revenue and controlling expenditures, government always acts with high time preferences: raise dough now, even at the expense of long-term “revenue” shortages. Rule changes will tease tax victims by allowing them to roll their 401k assets into a Roth IRA, which allows them to pay taxes now (potentially advantageous for some) while avoiding taxes on disbursements down the road. From a purely fiscal standpoint, this means that government gets your money now, but gives up its “revenues” in the long term. Always, all problems are pushed into the future to be dealt with when it comes time to cross those various bridges. These last minute crises always bring rise to media worship for the congressional criminals who dive in at the last minute and “save” our country from yet another fiscal Rubicon. The media bobbleheads experience rapture whenever our “heroic” leaders step up to save the day for the begging serfs.

Remember that elected and appointed “officials” have no long-term ties or interest in the government policies they create, and thus this gives rise to the behavior of here today, gone tomorrow, so take it while you can.

The cliff has been “avoided” in favor of a newer, bigger cliff. Indeed, build a bigger cliff and the politicians, along with their welfare queens, shall come.

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6 Responses to Who Avoided What Cliff?

  1. Amy Alkon says:

    January 1st, 2013 at 8:44 am

    A beautiful rage, beautifully worded. 

    Our legislative scum govern with a payday loan mindset. And the moron taxpayers from coast to coast keep rewarding them by putting them in power to do it. 

  2. KSB26 says:

    January 1st, 2013 at 9:09 am

    “But I think we can say we’ve done some good for the country. We’ve taken care of the revenue side of this debate.”

    Another thing is wrong with that statement. Once again FEDGOV gets its dessert first. Of course the revenue side of things was hashed out first. As for the spending cut side of things, that’ll die a quiet death in some sub-committee after a few months of half hearted negotiations.

    Spend! Spend! The children will pay! – Finnish saying.

  3. Wade says:

    January 1st, 2013 at 9:30 am

    This “deal” is an absolute joke…we’ve got a $1.2 trillion or so deficit, so they both increase taxes and increase spending…there are no cutbacks to the military security complex; no cutbacks in foreign aid; no cutbacks to the dept of energy; no cutbacks to the dept of education; no reigning in of the healthcare monopolies; etc

    there is no meaningful tax reform…capital continues to be taxed less than labor — ideally the taxes on both would be zero, but there is no reason for labor to have higher tax rates than capital, other than to cater to the monied interests

    There has been no discussion whatsoever about the private federal reserve’s zero interest rate policies, which transfer wealth from savers and pension plans to the banksters

    The real fiscal cliff is the difference between 1) all of the entitlements that have been promised, and 2) the money that has been set aside to pay for these entitlements…social security is actually the cleanest dirty shirt, although within the next decade we’ll start to see some sort of means testing…state and municipal pension promises cannot possibly be met, absent bailouts, which of course will be paid for via some combination of taxes on productive people, and/or inflation, which is a tax that has a higher burden on the middle and lower classes

    unfortunately our elected officials have only one goal: do what is necessary to get reelected and to continue getting contributions from the special interests

  4. jeannie queenie says:

    January 2nd, 2013 at 1:26 am

    Market Ticker has a short, but sweet piece from Dec 28 showing how we have been conned royally, even via social security, which was only a tax, no more.

  5. Bob Lewis says:

    January 2nd, 2013 at 10:47 am

    But man, proud man; dressed with a little authority plays such fantastic tricks before high heaven as to make angels weep.

  6. jeannie queenie says:

    January 2nd, 2013 at 8:59 pm

    Don’t hold your breath on these ‘crises’ ever ending, unless the masses rise up to fight the feds. Their hold on money has reigned supreme for eons.
    Just learned about a book written decades ago called, The Emperor’s Clothes Cost Twenty Dollars by Lloyd Darland. In it he describes how the fed reserve bank takes every penny we ever earn.  ”It was the creation of what we know today as the Federal Reserve Bank—a private entity created specifically to manipulate financial lives of BILLIONS of people worldwide.” 

    “It wasn’t legal, but they did it. It wasn’t ethical, but that wasn’t even worth mentioning. Yet it surrendered control over every penny you ever made (or will make) in your lifetime to an inner circle of money-grubbing elites.”  In short, anyone thinking they really control their financial future while under this secretive slavery of the elites, is duping themselves. If you are interested in getting this book, check out Bob Livingston’s website.

    If you then go down half way on that page, a good explanation reveals how the state determines our lives and finances..and totally to our detriment.
    Freedom in Chains
    Democracy as Pseudo-Savior
    By James Bovard

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