Tuesday, December 7, 2010

That did not take long

What happened to all those deficit hawks in the Republican party? They agreed to another year of unemployment benefits (welfare) so that they can get the Bush tax cut extension passed. In addition we are going to blow another hold in the budget by cutting the payroll tax by 2%. The payroll tax pays for Social Security. As Social Security benefits are not being cut by 2% the long term deficit situation was just made worse. So everybody gets what they want except for responsible hard working people like myself. Its interesting that one could have watched the Irish Parliament today on the internet where they were arguing about where they are going to cut their budget to meet IMF mandated austerity goals. This is a result of the years of profligate spending and failure of the Irish government to steward the peoples money. Look I am all for less taxes but these tax cuts and unemployment benefit extensions should be paid for with offsetting cuts in other parts of the budget. We are seeing countries go bankrupt in Europe and eventually we are going to end up the same way if we keep spending money we do not have. And where are all these small government Republicans? Play now pay later just like the Democrats.

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