Our Fiscal Mess

It’s the season to be jolly, to party and to celebrate. So why do I see so much gloom and doom in the realm of the American wonderland? Just watch the news, or your paper in the morning and you will be scared out of your skin.

Had we not been promised that after the election a great uniting would take place no matter who won or lost? We were promised an attempt to balance the budget because if the debt was a pile of manure all of Washington and much of the country side surrounding it would be covered with s**t. Most of the people I know want to the government to balance the budget and live within its means.

Here's what we know about Obama's uncompromising offer:

•          Obama is insisting on $1.6 trillion in tax increases, twice what he campaigned on.

•          Obama is also demanding $150 billion in new stimulus spending.

•          Obama is demanding another $30 billion extension in unemployment benefits -- an admission that his economic policies have failed to create jobs and grow the economy.

•          Obama is demanding that the death tax go back up to 45% on estates and family farms worth $3.5 million and more. Several influential Senate Democrats from farm states are opposed to that.

•          And Obama is demanding that Congress permanently give up its authority over raising the debt ceiling. So he wants an unlimited credit card too!

Here are the Republican demands in a nutshell:

·              No new  taxes—even for the Rich

·              Cut entitlements

·              Close loopholes in the tax system

However, the Republicans are not willing to become the sacrificial goats and get blamed for the harsh things that need to happen. So, in the end they will all muddle about and do nothing much to solve the real problem. I for one cannot wait to see how Americans will like it when they become just another Europe.