Skip to comments.President Obama’s paradoxical presentation on the ‘fiscal cliff’ dealet [Afraid to call him LIAR]
Posted on 01/03/2013 5:17:48 AM PST by SoFloFreeper
... Were back from vacation and, like many Americans, have been trying to figure out the details of the fiscal-cliff deal one of those classic middle-of-the-night congressional compromises that please virtually no one.
The White House, by its own accounting, ended up with $737 billion in deficit reduction, a far cry from the $2 trillion or so that it originally sought. But that hasnt stopped President Obama from touting the deal as a victory in a campaign-style video for supporters.
But a politician who highlights good news often leaves out the bad news. Lets see whats missing from Obamas presentation.
(Excerpt) Read more at m.washingtonpost.com ...
The "journalist" gives Chief Liar ONE Pinnochio. He deserves TEN.
"Since both sides seem to have tacitly decided the right measure for this deal is current policy, not current law, we initially were not sure if Obamas presentation was worthy of Pinocchios. But there is something very paradoxical about the story line here."
"In effect, Obama is arguing that eliminating tax cuts for the wealthy reduces the projected deficit, but keeping tax cuts for all other Americans and even fixing the alternative minimum tax has no impact on the deficit. At the same time, eliminating a tax cut for everyone (the payroll tax holiday) is neither a tax hike nor a deficit-reducer, because it was deemed to be temporary, even though every previous AMT fix had been temporary as well. The net effect is to maximize the impact of the tax hikes on the wealthy, and minimize the tax hikes on everyone else."
"For too-clever political jujitsu, Obama earns a Pinocchio. "
Since over half of voters were dumb enough to vote for Obama, those who actually get a paycheck are probably too dumb to notice when it gets smaller in January.
I would be surprised if George W. Bush (ethical, but no conservative IMO) wouldn't have signed this bill, too. Unappreciated in the discussion is that by financing the deficit by printing money instead of cutting fat from the insane spending, the resulting inflation amounts to a huge tax on savers. We've avoided the "cliff". But now we're heading into the abyss.
Dealing with mountains of debt by printing money did not work out too well for Weimar Germany. If history does rhyme, we may yet see a vegetarian war hero who is a charismatic speaker and who loves animals elected President at some time in the future.
BS. I guarantee this "deal" will not reduce the deficit one bit. These are just phony number made up through sheer (delusional) speculation with no basis in reality. Just like every other economic prediction we've ever heard out of Washington.