A co-chairman of President Obama’s deficit reduction commission said that “everything that president is doing now has not one thing to do with policy or reality.”
“All they have to do is do a plan. You don’t even have to get down to specific legislation. But unless we do a plan, markets are just going to hit us right between the eyes,” former Sen. Alan Simpson (R-Wyo.) told Neil Cavuto on Fox.
The Simpson-Bowles report, which advises a combination of spending cuts, taxes and entitlement reform to get out of the red, has been championed by some lawmakers but brushed off by the one who commissioned it: Obama.
Simpson criticized commission members who wanted to just “really sock the rich.”
“Let’s just you say, anybody that earns over a million bucks a year, let’s just confiscate everything they have. Their yacht, the Caymans, the five homes, just take it all, and that would run the country for nine months. Who is kidding who?” he said.
The former senator called the tax-the-rich schemes “absolutely stupefying bait thrown out to a poor old gullible American public.”
“Every day we borrow $3,600,000,000, every day,” Simpson said. “Every single day we spend a buck, we borrow 41 cents. Where are the brains?”
It’s the spending, stupid.
“Every day we borrow $3,600,000,000, every day,” Simpson said. – that’s what the government is just borrowing: $150,0000,000 per hour, $6,250,000 per minute. Even if Republicans get elected, it’s gonna be hard work to fill the hole that we’ve dug for ourselves. And that’s not even figuring in entitlements. Mr. Simpson is right: Obama and his crew have done nothing to address this except pass blame on previous administrations, the “rich”, “big business”, etc.. If Obama is re-elected, it’s over – we’ll be worse off than Greece and the rest of the PIIGS (Portugal, Italy, Ireland, and Spain).
They don’t address it because when they’ve tried to in the past you average American “adult” voter threw a tantrum.
It all necessitated coming down to a financial Armageddon for the overwhelming majority of people to pull their heads out of their rear ends (and obviously the majority still won’t until t he feces hits the atmospheric wave machine.
Lots of Americans are gullible because they’ve been educated in Democrat controlled government schools. Virtually all civics, economics, personal finance, even real math and reading have been banished. Small wonder so many think if the rich get plundered they’ll get a cut.
Funny thing about this article: what to the Democrats think they are going to do with those confiscated yachts and mansions? They aren’t currency but will have to be sold and who is going to buy them if the rich have been plundered? The feds will just end up like NYC and other places with thousands of city owned properties that are rotting away because the city can’t, or won’t, keep them up and no one wants to buy because of the taxes and regulations. The same would apply to companies and stocks. The company will have to be well run to make it an economic concern and stocks would have to be sold (unless they paid a dividend) and if sold it would likely be at a steep loss in value.
what to the Democrats think they are going to do with those confiscated yachts and mansions? They aren’t currency but will have to be sold and who is going to buy them if the rich have been plundered?
You forgot – certain Democrats of correct pedigree, such as Ted Kennedy and John Kerry and various leftist Hollywood and Silicon Gulch moguls, have special dispensations to possess yachts and mansions. They shall ensure that the former yachts and mansions of the politically incorrect lootees be properly distributed to the trust fund babies who currently steer Foundations and NGOs and non-profits leftward.
Of course the marxists refused to adopt a plan.
Destruction of the economy, and hence the county, is what they want.
Led by the Marxist in Chief, of course.
and people argue he’s not even a socialist. What fools.
“Let’s just you say, anybody that earns over a million bucks a year, let’s just confiscate everything they have. Their yacht, the Caymans, the five homes, just take it all, and that would run the country for nine months. Who is kidding who?”
There’s your T-shirt synopsis of everything wrong with the “Fair Share” argument. I did not like Simpson much as a Senator as he was prone to unhinged outbursts much like Biden or Aiken. But he is spot-on here!
Rush just elaborated an interesting position, that Obama is giving up on any voter with a brain, on any voter looking at any issue – other than their government check. Period. They will just chum the waters on every issue, not intending ANYBODY really believe it.
We’ve speculated on this before as the reductio of current policies and trends, but – maybe tomorrow has arrived?
“Every single day we spend a buck, we borrow 41 cents. Where are the brains?”
I’d put that as a bumper sticker on my car, if it had a picture of Obama at the end of the quote. There’s a first time for everything.
It’s the Cloward-Piven strategy (or just delusion), stupid! (No one’s ever accused Democrats of being sensible, just ideological.)
C-P Strategy, maybe Jake Tapper will ask a question about that? Nah, all is well, POTUS is just a big spender, just another ordinary progressive.
Discussing ecomomics and deficit reduction with this administration is like watching an episode of Intervention: the addict has well meaning family and friends (unfortunately some are enablers as well) trying to help and ecourage them to change course to save themselves, but half the time the addict refuses to acknowledge reality and persists in the addictive behavior. We know how this plays out over time: the person ends up dead in the gutter and the only question is how many get pulled down with them.
I think a lot more self inflicted suffering is coming before this addict gets well. The only way an addicts family can cope is to cut them off and live life without them – hoping they get well, but not encouraging, enabling, or supporting them. Maybe it’s time to grow your own food, recyle, barter, and get off the grid. Time to starve the addict.
Or insist on a divorce.
42 years of living in San Francisco have taught me that the Left’s intellectual immaturity and blind belief fueled by their emotions renders them a lost cause; they’ll feed off of the private sector host until they kill it. And then blame the victim for expiring; because, being the new, innovative tax and spend regulators, they really just need a little more money and a little more control to make a difference, this time. You’ll see, unlike all those other times.