Timothy Geithner made it clear that if the GOP will not abide with the administration’s growth killing “tax the rich” proposal, the Democrats will allow all Americans to suffer by going off the “fiscal cliff,” while surely pointing fingers at the Republicans as being “obstructionists” in the process.
Geithner is only repeating what the president has made clear from the beginning. Allow the Bush-era tax cuts to expire for the rich as a part of the negotiation to end the “fiscal cliff”, or else the Democrats are willing to let everyone suffer, as reported by USAToday. This, despite the fact that the tax would hurt growth, according to the non-partisan Congressional Budget Office.
He also indicated that there would be no talks to reform Social Security, despite the desperate need to do so. His sentiment has been echoed by other Democrats, who resist any reform to these programs that are crushing America’s economy and make it crystal clear that the only “obstructionists” are the Democrats who refuse to be fiscally responsible.
Geithner also has indicated that there should be no debt-ceiling, because he does not want the “drama”. Allowing unlimited increases to debt incurred by the federal government is a great way to ensure that she will forever be in debt. Are these people out of their minds?
As reported by Politico, under Timothy Geithner’s plan, “the president would have the authority to unilaterally raise the debt ceiling at any time.” This would take power away from congress, which is taking power away by the people, who are represented by those in Congress. Surely the founding fathers would be turning over in their graves.
Isn’t it interesting that Senate Majority Leader Harry Reid and President Obama opposed the debt ceiling increases in 2006 under President George W. Bush? Americans need to wake up to the very real damage the federal government is imposing by such unabashed spending and complete disregard for any spending restraint.
In sum, the Democrats will allow no discussion of entitlement reform, want an unlimited debt ceiling, and will not accept any policy that does not include a growth-hurting plan of taxing the wealthy. What do they want? Well, they want “credit” for one billion dollars of previous cuts (where?), as pointed out by Harry Reid. A billion dollars, by the way, accounts for .09 percent of the annual deficit. They are not serious, right? America can do better than these clowns, but will they wake up before it is too late?
Photo Source: Boston Herald