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15 Billion in Spending Cuts for 620 Billion in Tax Hikes
Posted By Daniel Greenfield On January 1, 2013 @ 11:58 am In The Point | 6 Comments
The real fiscal cliff is coming and it’s going to be a lot deeper and steeper than this. Even with the tax hikes, Federal spending remains completely and utterly unsustainable, the national debt is even more unsustainable and the entire package is a ticking time bomb.
Republican leaders in Congress had never shown any great communications skills and were demoralized by election defeats to put up much of a fight. They were too afraid of becoming unpopular to take a stand, even though their backs were up against a wall and there was nothing more to lose. This doesn’t augur well for the coming battle on the 2nd Amendment.
And so the deal is that the same tax money that people don’t have and spend money that you don’t have broken machine keeps on grinding along.
According to the Congressional Budget Office, the last-minute fiscal cliff deal reached by congressional leaders and President Barack Obama cuts only $15 billion in spending while increasing tax revenues by $620 billion—a 41:1 ratio of tax increases to spending cuts.
Republicans leaders have backed off an opposition to taxes and a concern for holding down the deficit, further watering down the party’s positions.
The 600 billion in new taxes won’t really plug the gap, but it will give everyone more play money to play with until the real fiscal cliff comes. More importantly it will undermine the Republican base while tossing some red meat to the Democratic base, which was the real goal all along.
Senator McConnell even echoed 99 percenter rhetoric, saying, “The President wanted tax increases, but thanks to this imperfect agreement, 99% of my constituents won’t be hit by those hikes.” That may be a poor choice of words, but it also shows how the left’s rhetoric has been absorbed into the political considerations of the Republican Party. It means that the premises of class warfare have largely been accepted.
…and reading the bill was, as usual, not necessary.
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