You know your country is in a heap of trouble when even China has a crack at your finances. China has warned the USA that they can't keep kicking the proverbial debt can down the road because to do so will bring the country down. No! you don't say!! Seems there are smart people in China - or it could be that they own most of the USA debt and want some money back on their investment!
Yesterday, Obama got what he wanted. Without making significant cuts to his out-of-control spending, he managed to back the Republicans into a corner and force them to raise taxes on the evil rich - a move in direct violation to what they supposedly stand for. Even Paul Ryan - Romney's so-called conservative economic mind and VP choice - voted for the bill. How stupid can you get? Here we were under the impression that Paul Ryan was a conservative with conservative values, and yesterday he showed he was nothing more than an establishment RINO, doing his bit to keep his job safe and to keep the pork-barreling alive and well.
Because, attached to the Fiscal Cliff tax-hike was lots of pork: A tax break for Hollywood!; a tax break for NASCAR!; a subsidy for rum manufactured in Puerto Rico; tax breaks if you train a mine rescue worker; and wind-energy subsidies! Yes, that's how the USA rolls - pad all bills brought to the table with pork and bribes for special-interest groups which have NOTHING to do with saving the USA economy from drowning in debt, but which has everything to do with saving political skins. So, at the end of the day what the fiscal cliff deal means is that for every $41 raised in tax hikes, Obama only cuts spending by $1! What a man! The USA debt is going to shrink before our eyes.....not.
Is this really what members of Congress think they're sent to Washington to do? And now you have GOP members going ballistic because Boehner didn't include Hurricane Sandy relief in the bill. Well, when the $60 BILLION bailout for NY and NJ contains only $21 BILLION in actual relief spending and nearly $40 BILLION in more pork spending, then why the heck would they expect Boehner to pass that bill? Boehner has said that he will be putting forward a $21 billion package for Sandy relief next week, so the GOP RINO's should STFU until then.
Bunch of losers. I think they've all been in Washington far too long, and spent too little time out in the real world, where people are struggling to make ends meet. In 2008 Obama promised that he wouldn't raise taxes on those earning less than $250 000. The fiscal cliff bill will raise payroll taxes from 4.2% to 6.2%. So, in other words those making $100,000 a year will see their taxes increase by $2,000. Obamacare also includes another 7 various taxes on people earning <$250 000. Guess who plays fast and loose with the truth? Yes, Mr Obama! Surprise!! But, shhhh, don't tell his minion Obamabot liberal supporters that their messiah is lying to their face - believe me, they wouldn't believe it.
In any case, this is what America voted for in November. They have voted for bigger government and more spending on entitlements and free stuff. The only problem is that no one wants to pay for it. So, the USA either has to cut down on the free stuff and live within its means; or raise taxes to Swedish and Denmark levels on everyone with a job or business to be able to afford living as they want to. What's it going to be USA? Either you want the free stuff and the bill that goes with it - or you don't.
Either way, the USA can't keep putting off making the tough decision. You can not live on borrowed prosperity forever....just ask Greece how that's working out for them.
Beijing - China's official news agency warned the United States on Wednesday it was heading towards an "abyss you can never come out of" even though Congress backed a deal to avert the "fiscal cliff".
After the House of Representatives approved a bill which avoids tax rises for most Americans and delays automatic spending cuts, a commentary by Xinhua pointed to bigger fiscal challenges ahead for US lawmakers.
"As the world's sole superpower, the United States is clearly not Greece," Xinhua said. "But economics and common sense do not lie.
"People, or governments, can overspend for some time, but they simply cannot live on borrowed prosperity forever."
China, which has the world's biggest foreign exchange reserves, is a major buyer of US Treasury debt.
Kicking the can down the road
The state-run news agency identified the US public debt of nearly $16.4 trillion - more than 100% of its gross domestic product - as Washington's key challenge, calling it a "fiscal abyss" that made Europe's sovereign debt crisis seem a "mere hiccup".
"The most worrying thing about US politicians is that if they have come so close to falling off a 'cliff', they are far less likely to reach a deal to help their country climb out of an abyss," the commentary said.
"In a democracy like the United States, tax increases and spending cuts, the exact dose of medicine needed to cure its chronic debt disease, have long proved hugely unpopular among voters. So the politicians have chosen to kick the can down the road again and again.
"But as we all know, the can will never disappear," the commentary added. "Sometime and somewhere, you might trip over it and fall hard on the ground, or in the US case, into an abyss you can never come out of."
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Obama is a pathetic joke. Americans sure are dumb to re-elect him again after his shocking first term record. They fell for all the propaganda during the campaign and now they're going to pay, and pay, and pay whilst he vacations in Hawaiiiiiiii!
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