Nero may not have actually “fiddled” while Rome burned in 64 A.D., but the aphorism applied to him has special pertinence to today’s environment in Washington, D.C. Many of our elected officials are fiddling while economic and fiscal calamity await the nation. And while Nero may not have actually created the Roman fire, the precarious perch our economy teeters on is the creation of our fiddlers.
The House has already passed two measures that would completely avert the so-called “fiscal cliff” that the media and economists are lamenting we’ll go over on January first without some compromising. Since the House measures include more spending cuts and no permanent lifting of the debt limit and don’t raise taxes on “the rich,” the bills are non-starters with the Senate and the White House.
Meanwhile, Senate Majority Leader Harry Reid, is calling on the House to pass the Senate’s bill. The Senate version allows rates on high income earners to increase from 35% to 39.6% and doesn’t include the spending cuts the House version implements. Since the Senate version includes a tax increase, it qualifies as a revenue bill, which makes it unconstitutional since all revenue bills must originate in the House. So Reid is banking on our ignorance, his stupidity, or both to have us believe that their legislation is even viable.
And where’s the President on all this? Unsurprisingly, he backs the Senate’s illegal bill, with less in spending cuts and allowing tax rates to go up for the top income bracket. Again, unsurprisingly, he wants more spending for another $80 billion “stimulus,” including extension of unemployment benefits. And even more unsurprisingly, he’s demanding that our rapidly-approaching spending limit be lifted and abolished altogether. Now isn’t that a brilliant idea to give a spendthrift an unlimited credit card after already racking up $6 trillion of our $16 trillion national debt in just four years?
For anyone who has a modicum of common sense and financial awareness, the President has more than proven his incompetency in fiscal matters. The fact that the media still paints him as the principled party to whom all others in Washington must show abeyance to and must compromise with is a testimonial to the gross incompetence of the mainstream media and their complete sellout of the country in favor of the President’s economy-crippling agenda.
Just to make this point clear: For six days of revenue (the $65 billion that would be raised by making top income-earners’ taxes go up), an unlimited credit card, and another $80 billion in wasteful “stimulus”, our illustrious president is willing to sacrifice the economy, our national solvency, financial security, and the credit rating of the United States. If anyone truly believes our Commander in Chief is looking out for the best interest of Americans and our country, I’ve got a bridge to sell you in Brooklyn. His demands are illogical, fiscally irresponsible, and could be financially devastating to the entire nation!
After witnessing this lunacy emanating from the White House, one can’t help but wonder at Obama’s desire to “fundamentally transform America” and if the way he intends to accomplish that transformation is by completely collapsing the American economy under the massive federal debt and declining dollar and then rebuild it according to his statist and fascistic ideology. After all, this White House believes that they shouldn’t “let a good crisis go to waste”; and how better to transform the nation than by creating a crisis that would facilitate his objective.
Based on Obama’s own words, while excoriating Bush for a $4 trillion debt increase over eight years, Obama is both irresponsible and unpatriotic. And nothing could be more irresponsible and unpatriotic than how he’s dictating the terms of economic destruction. He is willfully allowing the nation’s economy to wither and flounder to meet his asinine ultimatums.
And, lest we forget, it was his party in Congress that created the “taxmageddan” component to the fiscal cliff. The Democrats have demonized the “Bush tax cuts” for the past ten years and forced the sunset clause to make them temporary. They then signed on to the temporary cuts two years ago, which created the “cliff” on 1/1/13.
There have always been ideologues in Washington; but never have I seen such fiscally irresponsible, financially illogical, anti-American sycophants comprise an entire party in Washington as we see now in the Senate and in the White House. An entire party that is irresponsible, lacks genuine leadership in doing what’s right for the nation, and has no apparent concern for our financial and economic future. I’ve coined a term to describe their condition: they suffer from an acute case of cranial anusitis.
The House majority will be blamed for the financial wreck that Obama and Reid are foisting upon the nation, as their willing accomplices in the mainstream media will affix the blame to the only ones who are attempting to be responsible. And Obama will continue to “fiddle.”
AP award winning columnist Richard Larsen is President of Larsen Financial, a brokerage and financial planning firm in Pocatello, Idaho, and is a graduate of Idaho State University with a BA in Political Science and History and former member of the Idaho State Journal Editorial Board. He can be reached at email@example.com.
Photo credit: Dan Jacobs (Creative Commons)