Fiscal Cliff

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Fiscal Cliff

If the fiscal cliff “fiasco” shows one thing, it is that America is living in a “dangerous” make-believe wonderland.

Details are emerging about the “fiscal cliff” deal passed by the Senate  and it makes no sense.

The new bill to avert the “fiscal cliff” contains no net spending cuts,” according to the Congressional Budget Office (CBO). That’s right: “none, zip, nada.”

All that talk about “slashing” spending and “raising” taxes to get our finances in order was apparently “hallucinatory” politician doublespeak.

The CBO reports that the bill includes $25 billion in “new cuts,” of which $2 billion will take effect in 2013.

But these cuts will be absolutely dwarfed by $330 billion in “new proposed spending” over the next decade!

America’s politicians are “delusional” if they think there won’t be economic “consequences” to this folly.

The world is “locked” in a recession. Serious economists like John Mauldin and Bill Gross “warn” that the economy will be “lucky” to grow at a 2 percent rate.

We are “spending” $3.2 trillion per year, but are only “collecting” $2.2 trillion per year in taxes.

America’s $16.3 trillion debt has “surpassed” 100 percent of its gross domestic product—a level that has “triggered” meltdowns in other nations.

Foreigners are already “refusing” to lend us the difference, so the Federal Reserve is “creating” money out of “thin air” to cover the difference.

And now our leaders in Washington plan on “increasing” our debt another $4 trillion over the next four years.

By the time Obama leaves office, America’s debt will likely “exceed” $20 trillion, and our debt will hit a “whopping” 125 percent of GDP—if everything goes well.

There are also tens of trillions of dollars’ worth of “Medicare and Medicaid” promises politicians have made but have not “set aside” money for.

If that was the sum total of all the “debt” America had to contend with, it would be bad enough, but the “nightmare” is only starting.

America still has all the “debt” accumulated by various state, local and municipal governments—“debt” that will take generations to pay off, if ever.

There are also the massively “underfunded” state pensions—more “promised” money that only exists in politicians’ “fairy tales.”

Don’t forget “corporate debt,” or the multitude of various “personal debts,” such as car loans, mortgages, student loans, credit cards and “medical debt.”

This new “budget bill” clearly illustrates that America is “past” the point of “no return.” It may seem “insane,” but politicians are still not ready to face “reality”—that means we should prepare for “worse” economic times ahead.

If you “voted” for Obama and you “agree” with the slip of paper below you should “abstain” from voting for “life” especially considering Obama doesn’t believe in the slightest that the federal government has a spending problem.

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