Quiet days on the ranch. Occasional parties. Trips to Van Nuys. Writing and preparing.
The election approaches. Everyone buying into it like it’s a real event.
The more the right talk about, manifest socialism… the more the people will investigate. A self-fulfilling prophesy. The ill-judged Romney 47% remark seems to have hit a chord.
What sort of chord?
What does this random remark mean to those currently unemployed, underwater, disenfranchised?
In Europe the people are storming the palace. Austerity for what? Debt, deficit, bankers… as explosive as any Molotov cocktail to a modern European .
What is this debt? To whom do we owe the money? How did we get there in the first place? And why should we pay it back?
Unfortunately, if you rely on network nightly news programs for your information about the economy, you are likely to be misinformed about the main causes of the current deficit: in order of importance, the economic downturn, the Bush tax cuts and the wars in Iraq and Afghanistan.
The Center for Budget and Policy Priorities estimates that 34 percent of the 2010 deficit and 28 percent of the 2011 deficit can be attributed to the economic downturn.
The Bush tax cuts dwarf all other policy changes, costing the country an estimated $375 billion this year, or 24 percent of the deficit.
Newsweek: “the tax cuts were by far the largest, adding up to $2.3 trillion over 10 years.” Forty percent of the tax cuts’ benefits went to people earning over $500,000.
With cumulative spending of over $1.2 trillion for the Iraq and Afghanistan wars, the post-9/11 military escalation rounds out the list of top deficit culprits at 14 percent. (The cost could reach up to $4 trillion, including future veterans’ expenses.)
The news media under report or simply ignore the truth about the deficit instead concentrating on entitlements as the main culprit for the obscene debt.
If Obama wins in November he will have to re-calibrate his Presidency. He’ll have nothing to lose.
He may do what the loyal people of the USA have held onto both good and bad about their friendly President… that he is in fact the ultimate dog in the manger… an unchecked liberal, a gay loving entitlement loving…. muslim socialist… ready to launch the USA into the groovy 21st Century?
I’m not holding out much hope… but hey. I hope I’m wrong.
There’s always the deficit to worry about.