<

The sequestration idea came from the White House. But more troubling – why did the Republicans agree to it and let it become law? The President says he is not in favor of it going into effect. Why, then, did his people introduce it as a bill? But now that sequestration is law, the President holds all the winning economic cards.

So, what does this mean for the citizenry? It means taxes will go up come January 1, 2013, no matter what is agreed upon. For the Republicans, the negotiations are like having to go first in Russian roulette with no shells removed from the cylinder.

There will also be more so-called stimulus spending with borrowed money, driving the national debt even higher. And there is little chance adjustments will be made to Social Security and Medicare.

This is the good news – this is what will happen if the White House and Republicans come to an agreement.

The bad news is that no agreement will be reached and sequestration goes into effect; in other words, we go over the “fiscal cliff.” And if that happens, there will be massive tax increases coupled with massive cuts in spending, likely driving the economy back into recession.

How is it possible we find ourselves in such situation? Because we consistently elect and re-elect the wrong people to represent us. When will we wake up?

Did the President snooker the Republicans with sequestration (fiscal cliff)? You be the judge.


hit counter
hit counter

Tags: ,

Leave a Reply