The fiscal cliff is rapidly approaching, and no one can seem to agree on a possible solution. The White House is calling the Republican plan “magic beans and fairy dust”, but there plan isn’t any better.
While speaking to the press, Jay Carney said: ” It’s a couple sentences — it’s not a plan to say that we’re going to magically increase revenues through loophole closures and deduction caps with not a single element of specificity. So we don’t know who pays, we don’t know what we’re talking about in terms of actual legislation to increase revenues. It’s magic beans and fairy dust.”
Oddly enough, In 2011 President Obama said, “What we said was give us $1.2 trillion in additional revenues, which could be accomplished without hiking taxes — tax rates — but could simply be accomplished by eliminating loopholes, eliminating some deductions and engaging in a tax reform process that could have lowered rates generally while broadening the base.”
In other words: magic beans and fairy dust.
Many Republicans are now saying they need to negotiate in order to avoid the fiscal cliff. While Glenn and Stu don’t agree with compromising the values of conservatism, they have thought about suggesting letting the President get everything he wants so when it all comes crashing down he has no one to blame with himself. But as they pointed out, he’ll just ask for more until he has someone else to blame.
“They’ll just make up new stuff until you say you oppose it and they’ll blame it on that. It’s always moving the goal posts. The point for the President has nothing with the fiscal cliff, nothing to do with raising revenue, and it has little with raising taxes on the rich. What it has to do he wants to vilify the other side and he comes in as the hero,” Stu said. “I don’t think he has any intent whatsoever to make any deal.”
Glenn pointed out that if the Bush tax cuts expire and people are unhappy, he’ll get to negotiate new tax cuts will become the Obama tax cuts.
“It’s all Republican’s fault, and then he’ll have the biggest tax cut in American history,” Stu predicted.
“Really, the ones you should be pissed at are the Republicans. Where are the Republicans. Where are they? You didn’t know this was coming. This is your plan? This is your plan? With the greatest minds available on planet earth, you can go out and hire any firm and anybody this is your plan,” Glenn said.
Glenn said that with no one offering any solutions in Washington, it becomes clearer every day that people have to take care of there own families and communities. They need to be prepared for tough economic times ahead, and they need to be prepared to take care of their own needs because the federal government will be out of control.