The super committe fails so let’s go on a spending spree

[ShockediSay]

Source: Reuters


The super committee has predictably failed – maybe there was green kryptonite hidden in its meeting room. Months of nearly round-the-clock debate about reigning in the national debt, conducted at the highest levels of government, come to a close with nothing done about the problem. This is the essence of contemporary Washington: lots of empty talk, interest groups appeased, all difficult decisions indefinitely tabled and the national interest ignored.

What comes next? Most likely, Congress will make the national debt even worse.

Republicans want to extend the George W. Bush top-rate tax cuts. Democrats want to extend the Barack Obama payroll tax cut, and enact yet another bonus extension of unemployment benefits. One or all may happen by Christmas as both parties switch to full-blown pandering mode.

If the costs in the December 2010 stimulus bill are any guide, a package of extended tax cuts for the well-off, payroll tax cuts for everyone and bonus payments to the unemployed will add around $700 billion to the national debt.




Read more: http://blogs.reuters.com/gregg-easterbrook/2011/11/23/the-failure-of-the-super-committe-and-americas-continued-spending-spree/

---

I can explain why the Bush tax cuts for the wealthy caused the Great Recession (supplied upon request). As far as I and the OWS folks are concerned, continuation of the Bush rotten tax cuts for the wealthy is non-negotiable

Do we want to add to the wealth divide? The political divide? Do we want to help the billionaires like the Kochs, who took plenty out of the system but want to keep it all in their pockets by not paying taxes? Do we want to support their right wing neo fascist form of government?

Time we grew some and cut theirs, their platforms for right wing rule by big corporate billions. Better we go down to electoral defeat than display erectile dysfunction. In other words, it's time to stand up to the bastards !