Obama to Create Deficit Panel as U.S. Debt Soars
It took a little over a year, but it looks like the president is going ahead with at least one promise. and that promise is to create a panel aimed (ostensibly) at reducing the deficit. However, in reality? This presidential blue ribbon panel will be nothing more than a rubber stamp for Obama to do what he intended to do all along. Which was to raise taxes.
Forget about all the campaign promises of the 2008 campaign and forget about all the assurances that he would never raise taxes on anyone other than the 'evil rich,' all bets are off now. He knows that he cannot finance his socialist dreams of grandeur in the absence of dramatic financial outlays. And he full expects to achieve his dreams on the backs of those who were foolish enough to buy into his dream weave presidency.
The bottom line, there has yet to be a president since the inception of the federal income tax, who has raised taxes for any purpose, absent an increase in federal spending. The formula is really quite simply. If you intend to raise taxes in order to reduce deficits and balance the budget? Then you have to cut and reduce spending. Yet the two have yet to have ever happened. Regardless of the smoke and mirrors put forth to give that impression.
Barack Obama looked the American people in the eye on not one but dozens of occasions and told them, that he would never raise taxes on anyone making less than $250,000 a year. Which in retrospect? Makes Bill Clinton's like about never having had sex 'with that woman, Miss Lewinski' look like a grade school white lie.
And there is something else about this president and those presently in congress and the senate. They know that they are going against the wishes of the American people on taxes and cap and trade and health care and they know that they have turned their backs on the faltering economy, yet they persist in their determination to succeed in forcing their socialism on America.
Barack Obama has already seen the writing on the wall. He has all but conceded that what he is doing will potentially cost him a second term. And he has in as much said that he doesn't care. Not unlike Harry Reid who is looking to be defeated in November and a myriad of others representatives and senators who have cast their lot with the devil, knowing all along that they will not survive the aftermath. Some are beginning to bailout in advance and they are conceding that they will not stand for reelection.
Meanwhile, Obama is carrying forth with his promise of his own version of a trilateral commission. He has gone on record and stated that he doesn't want to take any option off the table, as it concerns the options for reducing the deficit are concerned with his deficit panel.
Should we pretend to be surprised when this commission comes back tot he president in a few months and tells him, that he needs to raise taxes on the middle class? Should we be surprised when he looks at us with a straight face and consoles us with one of his teleprompter speeches? And attempts to assuage any and all culpability and guilty that he has over doing it? I don't think so.
Make no mistake, this panel that he intends to empower this week, will have the unlimited ability to do precisely what he directs them to do. And once they have completed their task, our dear president will attempt to sell their scheme to America as if it was all arrived at via an honest effort and much soul searching.
Americans had better get with the program right now. They had better begin turning the screws on those representative who will listen. They had better communicate to those senators who will listen. and they had better send a strong and clear message to both congress and the White House.
That message is really very simple. Stop the socialist lunacy. Stop the tax and spend mentality. Make the honest effort to rein in the liberal socialist juggernaut and tax increases won't be necessary. Americans already pay enough taxes to support half of the world. and there in lies the problem.
We need to cease supporting the rest of the world. We need to stop supporting those who refuse to help themselves domestically and we need to have a complete re-accounting of how our money is spent. What we don't need, is some fluffed up socialist cheering squad commissioned by this or any other president, to tell us that we need to be taxed further so that they can spend more.
Read my lips mr. president.....no more taxes!
Obama's master plan is to be revealed today.
Former White House chief of staff Erskine Bowles and former Republican Senate Whip Alan Simpson would lead the panel, a senior administration official said Tuesday. The official spoke on the condition of anonymity because the president's executive order creating the National Commission on Fiscal Responsibility and Reform had not been announced.
The deficit spiked to an extraordinary $1.4 trillion last year and could top that figure this year as the struggling economy puts a big dent in tax revenues. Even worse from the perspective of economists and deficit hawks, the medium-term deficit picture is for deficits to hit around $1 trillion a year for the foreseeable future.
Obama and his economic team have said repeatedly that this is not sustainable. He told lawmakers during his State of the Union address that he would go around their vote and appoint a version of a deficit commission.
Obama's version of the commission is a weak substitute for what he really wanted: a panel created by Congress that could force lawmakers to consider unpopular remedies to reduce the debt, including curbing politically sensitive entitlements like Social Security and Medicare.
As rejected, the bipartisan 18-member panel would have worked for much of the year and, if 14 members agree, report a deficit reduction blueprint after the November elections that would be voted on before the new Congress convenes next year. The 14 would have to include at least half of the panel's Republicans.
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