Regardless of what compromise the President and Congress come up with, it will not significantly reduce the deficit or significantly decrease our debt. Representative Darrell Issa provides an overview of the tax increases in the budget proposals and sums up the result:

The bottom line is this: Under no proposed scenario does raising taxes eliminate  the deficit and return us to a balanced budget. The problem is government  spending.

Since neither the President nor the Congress has shown any interest in tempering spending (with four years of $1+ Trillion deficits), there is no reason to expect them to deal with the real issue.  We probably will get a deal, with increased taxes and some minor reductions in future spending.  But the government will continue to spend more, not less, and our chronic deficit-debt problems will continue.

Cinema Verite: 1984

December 27, 2012

… A world of absolute conformity, of continuous surveillance, of organized hatred …

 

The more highly industrialized the country, the more easily a materialistic philosophy will flourish in it, and the more deadly that philosophy will be. …The tendency of unlimited industrialism is to create bodies of men and women — of all classes — detached from tradition, alienated from religion and susceptible to mass suggestion: in other words, a mob. And a mob will be no less a mob if it is well fed, well clothed, well housed, and well disciplined.

T. S. Eliot

T.S. Eliot, The Idea of a Christian Society

If we want to play around with tax rates in the name of fairness, that’s fine. But lets not pretend it will fix our fiscal problems.

spendvrev

David Hogberg has more at Investor’s Business Daily.

 

This week the federal appeals court ordered the Obama administration to verify that it is revising the so-called contraception mandate in ObamaCare.  President Obama and White House officials have publicly pledged to make revisions relative to religious-affiliated groups.  In its ruling, the court defined these pledges as “a binding commitment.”  More details here.

This is an amazing precedent: the federal courts holding the federal administration responsible for its promises.  Brilliant!