Why not base jump the fiscal cliff?

No, seriously, let’s do it.

It would suck, it would create havoc, it would destroy the nation’s fiscal stability for decades to come.

Or maybe not. The coming sequesterization of federal funds, informally known as falling off the fiscal cliff (click) only amounts to $110 billion a year. Since the $1.1 trillion or whatever it is is spread over 10 years, the first year will be the hard one, after that just keep spending where it is and, bingo! Massive budget cuts!

And the current budget is fat. The defense budget alone is nearly $700 billion, double what it was when George W. Bush took office. Are we really to believe that we can’t trim that?

The fiscal cliff that everyone is discussing is, of course, the budget agreement that the TEA Party and its ilk forced the nation to accept in order to get the debt ceiling raised.

Here’s an explanation of it (click)

However it plays out, maybe it’s time to give it a shot. It punishes everyone, not just the military or social programs. If nothing else, we’ll put an end to this endless gridlock, and sequesterization might finally create enough chaos and recrimination to shut the TEA party up.

That alone  has enormous value.

Why? Because that gang of windbags has been able to sit around railing about the evils of government spending with impunity. Those weenie liberals always find a way to stop the cuts.

Just one example: The cuts will throw a lot of people out of work, which would make it a lot harder for those who claim government doesn’t create jobs to  justify their blathering.

During the debt ceiling crisis of 2011 these people were all over the place demanding cuts of everything.  I remember hearing some of their congresspeople –sorry, can’t remember the names — making speeches in which they made fun of the measley Trillion or so in cuts being discussed, saying it was woefully inadequate.

And I still hear that.

“$14 trillion in debt, what part of spending too much don’t you understand?” was spread all across some guy’s back window up in Morgan just last weekend. Some of that $14 trillion undoubtedly built the road he was driving on, but let’s not be picky.

No less a radical than Rep. Paul Ryan, now running for vice president, was one of those demanding it, saying the threat of sequesterization would force a special debt commission to come to some sort of agreement because the result of sequesterization was too horrendous to contemplate.

That Ryan then voted against the recommendations of the debt commission he was a member of, knowing full well it would mean sequesterization and the fiscal cliff he now blames on Obama, is a matter of record.

So, he wanted it, or at least was unwilling to compromise sufficiently to avoid it. Now he can have it.

Couple the cliff with the end of the Bush tax cuts, also slated to end this December unless extended, and we’ll be on our way to a balanced federal budget before you know it.

That is something everyone claims they want. The only way to get it is cut spending and raise government revenue, which is precisely what the fiscal cliff will provide unless some wimpy congresspeople once again cave in and keep it from happening.

 

 

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17 Responses to Why not base jump the fiscal cliff?

  1. James Hard says:

    Totally agree, Charley; the Republicans demanded this, and now they’re trying to blame it on Obama.
    As for the Bush tax cuts expiring, Lawrence O’Donnell makes a pretty good argument that the Dems could demolish the Grover Norquist pledge these guys all seem in thrall to. It goes like this: When the Bush tax cuts expire, Dems introduce a measure to cut the rates on under $250K back to where they are now – since it would be a tax cut, they’d have no choice but to vote for it…

  2. Howard Ratcliffe says:

    Ben Bernanke is forcing us off the cliff; he is printing $40Billion/month to buy Mortgage backed securities. Printing money to pay a Mortgage; nice concept more properly called Suicide.
    “Permit me to control a Nation’s money supply and I care not who makes its laws” Mayer Amschel Rothschild. He had a Red Hexagram on his door next to the address 666 Am Mein Frankfurt. His 5 sons ran the Treasuries of Europe with this motto and America was railroaded into it by Woodrow Wilson and his Satanic mentor Col Mandell House

  3. Howard Ratcliffe says:

    Inter-bank Interest Rates are essentially at 0%. Why on earth would anyone print money and charge interest to US Taxpayers to buy 0% paying US Treasuries? Every dollar printed devalues the $ and all the interest goes to Foreign Banks.
    Charlie, you are disgusting, flip and ignorant; people can see facts and see you are a liar having no equal.

    • Decider says:

      Wow! Howard can SEE facts and can SEE that Charles is a “liar having no equal”.
      With this prophetic VISION he soon will be claiming to SEE Russia from his backyard, SEE the need for “Second Amendment remedies” and SEE that it’s necessary to explain that he’s not a witch (warlock) — though, he still seems in denial about the latter . . . .

      • Decider says:

        It’s a great honor Charles — Howard is sure your “evilocity” exedes thirty-three degree Mason Sodomites and the Prince of Darkness.
        There needs to be an awards ceremony !

  4. Howard Ratcliffe says:

    QEIII is a perpetual money printing program of $40 Billion/month to purchase Mortgage backed securities. Only an insane person would use cash to purchase 0% bonds knowing ever dollar printed devalues all other dollars and the interest charged by the FED benefits International Banks, not taxpayers.
    Mortgage backed securities have a unique caveat, the asset titles are generally not even held by the banks, but were rather sold as Derivative investments to foreign investors; they will foreclose on taxpayers now rather than on the banks who caused the disaster.

    To be flip about 9/11 and now QEIII is incredibly irresponsible.

  5. KT says:

    ALL THE TEA PARTY’S FAULT, HUH? From your link: “Party leaders, the White House and most members of Congress supported the debt-ceiling deal: The BCA passed on a 268-161 vote in the House, with about one-third of House Republicans and half of House Democrats opposing it. It passed in the Senate, 74-26, with six Democratic senators and 19 Republican senators opposing it.”

    Erskine Bowles says it was Obama who scuttled the debt deal he and Simpson were commissioned to help with. http://pjmedia.com/instapundit/148720/

    PAUL RYAN A “RADICAL”? FLASHBACK: Obama in 2010 on Ryan Roadmap: ‘This is an entirely legitimate proposal.’ http://pjmedia.com/instapundit/148537/

    So what is YOUR proposal for getting out of our debt spiral, Charles?

    • ctrentelman says:

      we wouldn’t have had to mess with the debt ceiling deal if the Tea Party radicals in the House hadn’t been wagging the dog.

      The debt ceiling is because of money congress already ordered spent. Instead of acting as if they were standing up to Obama they should have manned up, approved the ceiling hike with no attachments and then approved tax hikes specifically targeted at paying for spending which, I repeat, CONGRESS ALREADY ORDERED.

      Yeah yeah, I know, the evil liberals made them spend it. Those wars that weren’t paid for, that medicare part D that wasn’t paid for — the GOP held both houses of congress and the white house but, yeah, they were helpless against those evil liberals.

    • ctrentelman says:

      oh yeah, almost pulled a romney and forgot the war(s).

      Defund the wars in Afghanistan and Iraq (whatever’s left) as of today, give the commanders 3 months to pull out, destroy in place anything that we can’t take with or give to the locals. I don’t believe for one minute that can’t be done — every army has a plan for quick withdrawl. Time to use it on this war.

      Savings: $100 billion a year, not to mention cutting short future medical costs for wounded soldiers.

  6. Howard Ratcliffe says:

    Charles, you flunked Math. The Budget Deficit is $1.7 Trillion or about $5,600 per taxpayer; the Federal Deficit is $16 Trillion or over $50,000. 40% of Americans don’t pay taxes, so these figures are far more onerous.
    Ben Bernanke just announced an open ended FED money printing program of $40 Billion/month called QEIII. Every dollar printed devalues the $US and saddles taxpayers with toxic Mortgage Junk Bonds whose Titles were often sold to Foreign investors illegally as Derivatives.
    Your raving ignorance is showing on every level now. Why not stop writing and start listening?

  7. KT says:

    So are you one of those “genocide, Meh” and “Islamist imperialism, Meh” liberals, Charles? Or an out-and-out isolationist? A lot of people would like to see us out of those countries, but I think an abrupt departure would be far more radical than anything Paul Ryan has proposed.

    Why do you think Obama raise troop levels in Afghanistan? (I know, he blew the surge there, but still, there had to be a rationale for maintaining troops there, given his previous promises).

    I guess your plan means that you repudiate the “Obama Doctrine”, in any case.

  8. Pingback: Another voice for the fiscal cliff | Blogging the Rambler

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