So our beloved United States Congress has passed a bill that averts the "fiscal cliff." They have voted to take less money from most of us (how kind of them to allow us to keep some of our own money), and they are extending unemployment benefits. Other than that, I have no idea what is in this bill, and neither do most of the congress people who voted for it. I guess, like the healthcare bill, they had to pass it to find out what is in it.
We are told that there is $1 in cuts for every $41 in taxes. Breitbart.com tells us how this compares to past bills:
According to the Congressional Budget Office, the last-minute fiscal cliff deal reached by congressional leaders and President Barack Obama cuts only $15 billion in spending while increasing tax revenues by $620 billion—a 41:1 ratio of tax increases to spending cuts.
When Presidents Ronald Reagan and George H.W. Bush increased taxes in return for spending cuts—cuts that never ultimately came—they did so at ratios of 1:3 and 1:2.
“In 1982, President Reagan was promised $3 in spending cuts for every $1 in tax hikes,” Americans for Tax Reform says of those two incidents. “The tax hikes went through, but the spending cuts did not materialize.
President Reagan later said that signing onto this deal was the biggest mistake of his presidency.
"In 1990, President George H.W. Bush agreed to $2 in spending cuts for every $1 in tax hikes. The tax hikes went through, and we are still paying them today. Not a single penny of the promised spending cuts actually happened.”Don't believe what they tell you. This bill is a farce. We have gone "over the cliff" in every sense of the word. Sen. Rand Paul lays it out:
Put a fork in the US, honey, because we are so done.
It was a nice country while it lasted.