Prepare to jump up off a high and mighty cliff that is only there because of the "clinking, clanking, clattering pile of caliginous junk" (thank you, wizard of Oz) we piled there to make it!
TeaParty Ameika (a wholly owned subsidiary of RepubliCorp) and their willingness to hold the country hostage while it risked economic ruin while it ruined our credit rating has put us in this situation. The raising of the debt ceiling, a perfunctory after the fact acknowledgement that the United States will live up to the debts that is already incurred, was turned into a threat to get things that they couldn't get under normal conditions.
As unpleasant as the sausage making in congress and the White House is to observe, I do think in the end a compromise will be reached. It has to be. The self-imposed fiscal cliff is Draconian and stupid and will hurtle us back into recession.
The compromise reached will please no one. Tax rates, particularly for the wealthy, will go up. some deductions may be capped. Entitlements will be trimmed in some way. Logically, defense spending should go down, but I wouldn't hold my breath on that one.
I pray that the medicare eligibility age is not raised. That would be self-defeating, as the best means to lower costs is to include more, not less, people in Medicare and Medicaid. There is some talk of means testing these programs to not include those who are wealthy enough to not need these programs, but good luck with that. Try to telling a high income earner he can't participate in a program he paid into.
So, close your eyes, divert your attention, and when you come back after Christmas, the deal should be done. You still may want to close your nose to it's odor.
No comments:
Post a Comment