American Elephants


The Wizards of Washington Are Hard at Work To Make Your Life Immeasurably Better. by The Elephant's Child
August 3, 2009, 8:05 pm
Filed under: Capitalism, Economy, Taxes | Tags: , , ,

Probably many of you have seen videos of Treasury Secretary Timothy Geithner this weekend, appearing on George Stephanopolis’ program “This Week” on ABC, putting out a trial balloon carefully planned hint that they just might have to raise taxes on the middle class, to pay off their outrageous spending binge reduce the deficit so that the economy can start to grow again.  Press Secretary Robert Gibbs insisted that no, no it isn’t so, President Obama promised…

The federal budget — not all this extra stuff like bailing out car companies and banks — but the cost of running the government is up 11 percent this year.  The “stimulus” has accomplished nothing so far:  63 percent went to Medicaid, 13 percent to the State Fiscal Stabilization Fund, 6 percent to highways, 5 percent to other selected programs, and 12 percent to other programs not in the study — just in case you were wondering why a lot of jobs have not been created.  (GAO figures) The one part of the country where new jobs are plentiful?  Washington D.C.

Now that Congress is spending like the proverbial drunken sailors, news has come in that, um, tax revenues have seen the biggest single-year drop since the Great Depression. And the federal deficit balloons to an unbelievable $1.8 trillion, with $9 trillion coming.

PLUMMETING TAXES

Corporate income taxes are down 57 percent, individual tax receipts are down 22 percent from a year ago.  Social Security and Medicare taxes are sure to drop similarly.  It’s not a pretty picture.

Oddly enough, they claim that they are going to pay for all of this by the massive reductions in the cost of health care.  That is, they are going to pay for health insurance for that 45.7 percent of Americans who they call “uninsured”, and it’s going to cost less?  That must be some rationing that they plan for us.

How about canceling the rest of the “stimulus,” and not dumping more money into “cash for clunkers,” and canceling the insane Waxman-Markey climate bill for starters?  And then put off changing around the seventh part of the economy that is the health care that the majority of Americans like.  But wizards like to fix things, even if it’s all just an illusion.

Well, never mind.  The Great and Terrible Oz will fix things.  He has these pretty green spectacles that fasten on with two golden bands that pass around the  back of your head where they are locked together by a little key that is worn on a chain around the neck of the Guardian of the Gates.

If we can just find those red shoes…




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