Economic sabotage

Exiting Democrats' spending legislation is a pork-bloated outrage

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Congress isn't just fiddling while America burns financially -- it's raiding our Treasury for even more money while it still can.

After purposely, and perhaps calculatingly, neglecting all year to write a budget for the country, Democrats in the "lame duck" session -- just before Christmas and before the government runs out of operating cash -- have dumped a $1.27 trillion pork-laden, 6,600-earmark spending bill on Congress, a nearly 2,000-page monster with warts few have yet seen.

After the Nov. 2 election, in which voters cried out for austerity, and with economic gloom about the land and federal bankruptcy and European-style unrest on the horizon, for Democrats to lead yet another raid on our Treasury to steal from American taxpayers is a historic slap in the face. It skirts criminality.

It strains credulity to believe this mammoth spending bill wasn't thrown together at the last minute to prevent its being read.

Of all the outrages perpetrated by this, the worst Congress in our history -- including a budget-busting, wholly ineffectual "stimulus" bill and a massive health-care bill Americans said they didn't want -- this spending bill may be the worst, merely for its brazenness.

The country already is on the verge of economic collapse because of Washington's unprecedented spending. This catch-all "omnibus" spending bill -- more accurately an "ominous" spending bill -- could be the truckload of straw that breaks the camel's back. It just might push our economy over the edge.

More specifically, when such out-of-control spending requires draconian austerity measures, most likely in 2011, social unrest may be inevitable -- including street protests that turn violent, such as we've seen in recent months in Greece, France and Great Britain. In Britain, the model of civility, Prince Charles and his wife, Camilla, recently were set upon in their car by rioting students.

What makes us think we are somehow immune from such unrest or exempt from the laws of economics?

We're not. A Chinese rating agency already has downgraded America's credit rating -- significant, considering all the U.S. debt held by China. And credit rating agency Moody's warned this week that President Obama's tax compromise with Republicans -- because it's not offset by spending cuts -- could put the country's Triple-A credit rating at risk.

"It warned," writes Fortune's Colin Barr, "that unless Congress gets its act together, it could see a once-unthinkable downgrade of the U.S. credit rating on its watch, which could balloon U.S. borrowing costs and make our financing position much more costly."

And all that was before the nearly 2,000-page spending bill was plopped down.

Adding in the spending bill, Bill Wilson, president of Americans for Limited Government, makes it sound even more dire: "A credit downgrade will increase borrowing costs, result in a funding crisis, threaten the dollar's status as the world's reserve currency, and risk another global financial meltdown.

"The debt is an imminent threat to the nation's prosperity. The crisis we face will make the riots in Greece, France, and the UK over austerity measures appear to be benign."

In a few years, Wilson notes, U.S. debt could exceed the gross domestic product -- meaning our government could owe more than the entire private sector can produce in one year.

Democrats have to know what they are doing. In fact, there may be a grand strategy: On the way out the door, they play Santa Claus with taxpayer money -- then, when drastic cuts must be made, they blame Republicans, newly in control of the House next year.

History will know better.

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ReformedRepub
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ReformedRepub 12/16/10 - 02:06 am
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If you are so intent on

If you are so intent on reducing the deficit, ACES, why not advocate for REMOVING the Bush era tax cuts? That alone would increase revenue over the next ten years by 4 TRILLION dollars. Removing the cuts for the highest would only add 700 billion, but the lower bracket cuts would add 3.71 trillion in revenue. Why is the pork that Republicans added not mentioned? Once the bill is passed, will you identify the Republicans who vote for the bill? will you decry them? I seriously doubt it. This bill will pass with Republican support, but I'd bet a dollar to a dime that not ONE word will be whined by the dishonest or uninformed ACES.

Mad Hatter
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Mad Hatter 12/16/10 - 05:29 am
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Reformed.... removing the tax

Reformed.... removing the tax cuts will not reduce the deficit. Every time taxes are cut across the board, revenue goes UP! The only way it will add 700 billion to the deficit would be if the government SPENDS 700 billion. You don't add to the deficit by NOT taking money from someone, you only add by spending. Why can't liberals seem to wrap their brain around that concept? Talk about dishonest and uninformed......sheesh.

Riverman1
83717
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Riverman1 12/16/10 - 06:00 am
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The Democratic solution is

The Democratic solution is expressed well by the first person to comment here. Keep spending, just find people to take more from. In a perfect Democratic Party run world we would all have the same no matter the work effort.

Mad Hatter
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Mad Hatter 12/16/10 - 06:08 am
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Reformed... Prove to us that

Reformed... Prove to us that we are wrong when we say you don't know what you are talking about. Explain exactly how raising taxes will add 4 trillion in revenue. When you do that, keep in mind that when the taxes were cut 10 years ago, that revenue went UP. Let's hear your explanation.

carcraft
25775
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carcraft 12/16/10 - 06:30 am
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Reformed Repub- By your

Reformed Repub- By your thinking my boss's failure to give me a raise has cut my pay. If only that greedy SOB would increase my pay by $50.000 a year I could then get $100,000.00 more in debt. That evil SOB, cutting my pay by not giving me a $50,000.00 per year raise is really cramping my life style. I know reformed Repub, you and all your liberal friends can send me a check so I can live better and get more into debt OK.

southernguy08
499
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southernguy08 12/16/10 - 07:55 am
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REFORMED, I'll see your end
Unpublished

REFORMED, I'll see your end of the Bush tax cuts and raise you matching them with an equal amount of cuts in entitlements. You got the stones to match me, or is that being racist?

southernguy08
499
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southernguy08 12/16/10 - 07:56 am
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Oh, REFORMED, this all must
Unpublished

Oh, REFORMED, this all must be done AFTER congress passes a BALANCED BUDGET AMENDMENT. Otherwise, we're just giving them more money to spend, and we all know, they'll find a way to spend it!

ReformedRepub
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ReformedRepub 12/16/10 - 08:10 am
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Have you all not read ANY of

Have you all not read ANY of my recent posts? I said don't renew the cuts, AND cut spending. The idea that reducing taxes increases revenue is preposterous. My main point against this tripe filled editorial is that Republicans have equally added pork to the bill, and will vote to pass it. It can't be blames entirely on the Democrats.Cutting taxes is like taking a cut in pay. If you were in financial trouble, would any of you ask your boss to reduce your pay?

southernguy08
499
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southernguy08 12/16/10 - 08:44 am
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Yes REFORMED, but most
Unpublished

Yes REFORMED, but most liberal like you say cut defense spending first. Again, I'll see your end of the Bush tax cuts and raise you matching it with cuts in entitlement programs AND an end to earmarks. That is AFTER a balanced budget amendment is passed. As for pork, we all know that BOTH parties are guilty of this. This is old news. Nancy Pelosi called for an end to earmarks how many times with her "It's time to drain the swamp." speeches. We see just how hot the "party of the working man" is on ending earmarks. Yeah, I'm laughing.

southernguy08
499
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southernguy08 12/16/10 - 08:55 am
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DASHIEL, just curious, who
Unpublished

DASHIEL, just curious, who said we'd never have unemployment in this country higher than 8% if he got his spending bill passed? Rhymes with Llama. Yeah, I'm laughing.

rmwhitley
5547
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rmwhitley 12/16/10 - 09:57 am
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Liberals tax and spend,
Unpublished

Liberals tax and spend, liberals tax and spend, liberals tax and spend, liberals tax and spend, liberals tax and spend, liberals tax and spend, liberals tax and spend, liberals tax and spend, liberals tax and spend. What doesn't the average American understand? Just recieved a 1099 for tax return on 2009. Tax refunds are now taxable. Liberals tax and spend, liberals tax and spend, liberals tax and spend, liberals tax and spend!

grouse
1635
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grouse 12/16/10 - 10:12 am
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The Chronicle editorial staff
Unpublished

The Chronicle editorial staff lives in an alternate universe....the Republicans want to extend tax cuts when the country can least afford them, and it's just a plain lie that Americans didn't want universal health care. Poll after poll confirmed that, while most Americans aren't happy with the bill, they overwhelmingly wanted health care.

southernguy08
499
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southernguy08 12/16/10 - 10:16 am
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Okay GROUSE, if you're so
Unpublished

Okay GROUSE, if you're so concerned about the country's finances, where's your plan to match what we'd save by not extending the tax cuts with equal cuts in entitlements? Dems love to buy votes with "social spending." Yeah, I'm laughing.

dani
12
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dani 12/16/10 - 10:28 am
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Pray for the Harry Reid

Pray for the Harry Reid spending bill to fail. We can't afford to wait for history to show us the effects. Have your representavie in D.C. STOP the wreck before it happens - defeat this pork-laden bill.

ReformedRepub
0
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ReformedRepub 12/16/10 - 10:34 am
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Republicans CUT taxes and

Republicans CUT taxes and spend, Republicans CUT taxes and spend, Republicans CUT taxes and spend. What administration is responsible for a budget surplus? Were taxes raised or lowered? What administration was in power when the budget deficit was raised by 1 trillion dollars in one fell swoop? What administration was in power when the economy tanked the last TWO times? The artificial economy that is in place will continue to have to be propped up by the government as long as our currency is fiat money, backed by nothing. Our currency will lose value as long as it's not backed by something tangible.

ReformedRepub
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ReformedRepub 12/16/10 - 10:37 am
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Southernguy, Republicans like

Southernguy, Republicans like to buy votes from the ignorant by somehow convincing them that the wealth will "trickle" down. It does trickle down, while it's FLOODING up to those who only care about you for what they can GET from you. They give you your paltry 75 dollars a month tax "break" while they enjoy the millions that they receive. BRILLIANT!

kmb413
533
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kmb413 12/16/10 - 10:59 am
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1. If the tax cuts expire the

1. If the tax cuts expire the govt will view the 'new found money' as something they can spend, not apply to the deficit.
2. Yes, everyone wants health care. That wasn't the issue. The issue was health insurance. Anyone can get health care.
3. A poor person never gave me a job.
4. rmwhitley put 'liberals' not democrats. Reformed response should have been conservatives not 'Republicans'.
5. The budget surplus was PROJECTED!! I can easily project that I will have money left at the end of the week, but does that mean it will really be there?
6. I will concede that Bush did add $850 billion with the bailout in Mid-October. Unfortunately for Obama the fiscal year started Oct 1, so even though he had not officially taken office, it counts on his fiscal year and he is blamed.

SoonerorLater
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SoonerorLater 12/16/10 - 11:03 am
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Simple minds see that at face

Simple minds see that at face value if you cut taxes, revenues will drop. This in a vacuum is true. However, delve deeper and see that tax cuts put more money in small business pockets, which they then use to grow their business, which they then hire more people, thus employment goes up thus broadening the tax base (more people paying taxes), and business profits rise thus generating more taxes, and government revenues then increase. This, coupled with reduced spending, will right the financial ship of this country.

SoonerorLater
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SoonerorLater 12/16/10 - 11:17 am
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2008 unemployment rate was

2008 unemployment rate was 5.8%, 2009 was 9.3% (current is 9.8%). From 2001 to 2008 the budget deficit was between $128 billion surplus in 2001 to a $458 billion deficit in 2008. For 2009 the deficit was $1.41 billion, 2010 projected to be $1.56 billion deficit and 2011 projected to be $1.27 deficit (from whitehouse.gov web site). Just looking at the scoreboard it would seem that the Obama has done more financial damage to this country in less than two years compared to those that claim Bush "wrecked" the economy.

ReformedRepub
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ReformedRepub 12/16/10 - 11:27 am
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Sooner, I do believe you mean

Sooner, I do believe you mean Trillion, and the additions to the 09 deficit, as stated by KMB, is really Bush's responsibility, albeit necessary to combat the economic collapse that occurred under his administration. As to the veracity of your budget surplus/deficit numbers, I have yet to verify them, and notice you leave out the addition to the deficit caused by the reduction in income caused by the Bush era tax reductions. As to Obama's "wrecking" of the economy, there has been increases regularly in employment, manufacturing and economic growth. As I say all the time, the Republican motto should be "Then let them all die, and further reduce the surplus population."

SoonerorLater
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SoonerorLater 12/16/10 - 11:38 am
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http://www.whitehouse.gov/omb

http://www.whitehouse.gov/omb/budget/Historicals

Verify it yourself. Another trait of those who post facts, they can back them up. Increase in regular employment, back that up. The unemployment rate when Obama took office was 7.7% and has fluctuated above the 9.5% mark for all of 2010 and is currently 9.8%.

http://www.npr.org/2010/12/03/99136097/tracking-u-s-monthly-unemployment

southernguy08
499
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southernguy08 12/16/10 - 11:37 am
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REFORMED, Democrats have been
Unpublished

REFORMED, Democrats have been buying votes from the ignorant and "po" for generations. Even tho Jim Crow Laws, lynchings, and racial discrimination took place throughout the south while Dems were in office, AA's have been brainwashed to think the Dem Party is their only friend. The Dem Party seems intent on giving fish to these people instead of teaching them to fish. REAL RESPONSIBLE. Yeah, I'm laughing.

southernguy08
499
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southernguy08 12/16/10 - 11:40 am
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REFORMED, are the Republicans
Unpublished

REFORMED, are the Republicans you blame for all the woes of the country the same Republicans who control NEITHER house of congress OR the White House? Just wondered if there was another Republican Party.

Scratch
147
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Scratch 12/16/10 - 12:37 pm
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Reformed, please check out

Reformed, please check out IRS website. It provides fed income tax revenues for past years. For example, 1995 - $4.97T; 2000 - $5.67T; 2002 (after Bush cuts) - $6.23T; 2004 - $7.38T; 2006 - $8.51T; 2008 - $10.02T. Where are revenue decreases? Why do you persist in stating as fact that revenues decrease when rates are cut? The IRS says the opposite is true.

burninater
9580
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burninater 12/16/10 - 12:44 pm
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0
"Moody's warned this week

"Moody's warned this week that President Obama's tax compromise with Republicans -- because it's not offset by spending cuts -- could put the country's Triple-A credit rating at risk."

More specifically: "The agreement to extend the Bush tax cuts for two years and trim workers' payroll tax contributions for one could raise the U.S. debt-to-GDP ratio at 2012 to 72-73% from around 62% now, Moody's said. It said that without the tax package, that number might have been around 68% in 2012."

http://finance.fortune.cnn.com/2010/12/14/moodys-warns-on-tax-cut-deal/

So according to Moody's, a 4-to-5% of GDP CUT in spending would be required JUST TO BREAK EVEN with the current extension of the Bush tax cuts. First thing that is done with a "voter mandate", "speaking with the voice of the people", is to INCREASE the debt. Absolutely mind-boggling that people think a populist uprising will result in elected candidates that behave any differently than they ever have. Recognize the motivations of greed people, and listen to "promises" accordingly.

And ACES, please. You do noone, except the greedy pork barrel spenders, any credit by facetiously pretending that Republicans contributed nothing to the level of earmarks in this bill. Here is a link of some noted earmarks in this bill.

http://www.taxpayer.net/user_uploads/file/Earmarks/2010/LIST%20OF%20EARM...

Lot of Republican names on here. Note the largest defense earmark on there, Gulf Coast Land Based Test Facility (LBTF), $21.7 million, Cochran and Wicker. Guess who aren't Mississippi Democrats? And apparently they wanted a cool $40 mill:

"Sen. Roger F. Wicker (MS) requests $40,000,000 for:
Northrop Grumman Shipbuilding Gulf Coast
Pascagoula, MS

Test facility to ensure multiple, integrated interfaces perform
flawlessly requires: modeling; planning; and component, equipment,
and system level pre-assembly; integration; and incremental testing
prior to shipboard installation."

http://washingtonwatch.com/bills/show/ED_58032.html

Interesting, $40 mill wanted for Northrup-Grumman facility ... they're a private company, working within the free market, leeching nothing off of our hard earned tax money, right? Right ...

We certainly have a spending problem in this country. Grow up and stop pretending that it's one-sided, one party, and that private enterprise shares none of the culpability.

carcraft
25775
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carcraft 12/16/10 - 12:46 pm
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Reformed- The President

Reformed- The President dosen't write THE budget (apperantly neither does Reid, Pelosi or Democrates in the House and Senate avoiding their Contitutional obligations), spend money or raise taxes. That is all done by the House. Who controlled the House and Senate when Clinton had his vaunted budget Surpluses? Why that would be the Republicans!

Chillen
17
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Chillen 12/16/10 - 12:50 pm
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The group of criminals in

The group of criminals in charge right now are doing this intentionally to screw the American public who voted them out (childish) and to create chaos so that we end up begging for government to step in and save the day.

The day for Civil War II is nearing. I can smell it in the air. I think it can be done non-violently. Just draw a line down the middle of the country. One side Red, one side Blue.

I will volunteer to help fianance and put up the 100 foot wall that we will need to keep the liberals from jumping to our side when their society collapses (and with 100% certainty, it will collapse).

Chillen
17
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Chillen 12/16/10 - 12:53 pm
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burninator. Do you live in

burninator. Do you live in Augusta? I've never seen you post anything about local issues.

burninater
9580
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burninater 12/16/10 - 01:02 pm
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N. Augusta, Chillen.

N. Augusta, Chillen. Distortion of the facts in the press tends to get me worked up enough to post, and it seems that local issues are dealt with more factually in the AC ... probably because it's easier for people to see when they're getting played in those cases ...

faithson
5157
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faithson 12/16/10 - 01:13 pm
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You say it is, I say it

You say it is, I say it isn't... This proclivity to divide our great nation by the likes of a billionaire Australian and his media company is 'evil incarnate'. There is no good that can come from 'criminalizing' your neighbor, who ever that person, party or collective may be. WE are all in this together, and with wise leadership we can overcome the trials of change that are upon us. MONEY in politics is the poison we must ALL agree upon before we can ever move the dial in a positive direction in this country.

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