You’ve read all the propaganda in the mainstream media about how the “fiscal cliff” resolution bill will solve all our budget problems. The rich are finally “paying their fair share.”
Turns out the bill only saves $4 billion after you deduct all the goodies in the legislation, such as an extension of jobless benefits for 1 year and corporate welfare grants to NASCAR and Hollywood. This according to the White House’s own estimate (and you can bet they are being overly optimistic).
This does not include the $10 billion Sandy Aid bill that was passed three days later or the $50 billion Sandy Aid bill lawmakers will vote on this week.
The Hill reports that our deficit for fiscal year 2013 (which began last October) is on pace to be another $1 trillion loser. It will be the fifth $1 trillion deficit in five years. All the $1 trillion deficits have been under Obama. The Congressional Budget Office estimates we will have $1 trillion deficits for the next decade or more.
Meanwhile, in an interview with the Wall Street Journal a couple of days after the bill was passed, Speaker Boehner said Obama told him, “The United States does not have a spending problem.” Boehner was stunned.
Obama further asserted that he fixed any issues with escalating healthcare costs with Obamacare. This while Blue Cross and Blue Shield of California publish new rate schedules with a minimum of 45% rate increases.
How can anybody be so totally disconnected from reality as Obama is?
How can anybody be so stupid.
