ninjadude, on 05 December 2012 - 03:53 AM, said:
so basically you're admitting that the timetables that you use to justify your ranting in this thread are meaningless. Thanks. 75B is 75B. It's not zero.
It’s not meaningless – get a clue. The 10 year time frame is what Washington establishes, i.e. not meaningless. $75B is my calculation, but I’ve seen others put it at about $80B. Yes, $80B is not zero, very good for you. But $80B does nothing to bring down the debt. What is needed is more like $500B per year. Yes, that is an arbitrary number. If you want try $300B or $700B or whatever is fine, but this is the kind of numbers you need to seriously attack the debt. Some brought up that that $80B was but only a portion of cutting a million here and there. All I asked was, then where are all of these other millions? Show me the rest (the $420B or whatever) that compliments the $80B, then I could see a raising of taxes to add the $80B to the $420B. But if you don’t have this $420B, then what good does the $80B do for you?
If spending isn’t controlled, then on 1 January there will be a $1.2T cut across the board over the next decade. That’s $120B per year. What’s interesting is that the Whitehouse claims that letting the Bush tax cuts expire for the top 2% will raise $120B. We’ve already seen that they will be short but what’s really interesting is that what is expected from taxes nulls out the cuts. So if the “deal” is made, nothing changes. This is not a cliff. This is not a deal. We’re in the same place. Do you understand that? It is all a created crises made up by this Administration to hide the real reasons. The Bush tax break only amounted to about $300 for the average person. Repealing the tax cuts isn’t going to send anyone over the cliff. When the tax cuts were first established, people were complaining that $300 wasn’t enough, so how is it a cliff now? I guess people become dependent on the money they earn themselves.
I had listed these other reasons in another post and I will list them here again:
1) Vilify the Conservatives (they get blamed either way if we go over or not on this non cliff).
2) To wrestle the power of the purse from the House, in order to raise the debt limit (to start).
3) Repeal of the 22nd Amendment (via some artificial crises).
4) Pull the wool over our eyes (or at least to about half).
5) By blaming the GOP, it will hide all the new taxes for Obamacare (minimum of $2000 per family).
Do you get it? Taxes are going up for everyone anyway. Not the $300 from letting the Bush tax cuts expire but the $2000 + for Obamacare. So if we go over this cliff, you’ll hear this Administration try to blame the GOP for causing taxes to go up in the thousands, not by $300 or $600. If the GOP caves, Obama gets control of the debt ceiling, will not cut spending and will blame the GOP for taxes going up anyway. That is my prediction.