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|Subject: Re: Fiscal Cliff my @ss||Date: 11/10/2012 1:07 PM|
|Author: telegraph||Number: 46188 of 73713|
ha...Obama's already been campaigning...it wasn't 8 hours after the re - lection that it was all 'tax the rich' tax the rich....'tax the rich'....
Sorry...this is all going to have a bad ending.
Unless they get the spending under control......we're not only headed to the financial cliff but over it.
Likely, they'll just 'punt' and kick the ball down the field another couple yards into late next year and do absolutely nothing.
it will, of course, be even worse then.
With all the new ObamaKare taxes kicking in next year.....without exception.....
with all the massive costs coming with Obamakare in 2014....next year will be a recession you won't like.
Then the progressives will insist upon another trillion in porkulus for 'stimulus'....borrowing to spend your way to prosperity, which will just sink us even faster.
Obama does not understand the words 'spend less'.
He's got 4 years to borrow and binge......with no one to stop him other than the Chinese.
You realize that the US now 'buys' 70% of the bonds it sells since no one else wants them? That is QE? buying your own bonds to keep interest rates near zero.
We can't afford to pay interest on 16 trillion at 4% interest....you realize that would eat up 20% of the revenue coming it. Try it at 6%.