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posted by King Minos in Money / Career

'NEW' Leadership: Taking the Heat!!??

December 27, 2012

House Republicans not only rejected President Obama’s overly generous budget deal, including his offer to lift the income threshold for higher tax rates to $400,000 a year from $250,000, they also rejected their own leadership’s proposal to raise the threshold for higher taxes to $1 million and to preserve tax breaks for the heirs of multimillion-dollar estates.

http://www.nytimes.com/2012/12/27/opinion/a-fiscal-cliff-endgame.html?hp...

***

The King, of course, is a bit jaded when it comes to expecting new leadership from Washington, DC; but at least NOW there is a chance of it!

Granted, I know not, whether PBO or the Republicans will get blamed for going over the media-made "fiscal cliff." Of course, since the media, really, has conjured this BOOGY-MAN, wouldn't they go ALL OUT to blame the GOP? (In fact, this liberal NYT editorial above, even now, hints at what the liberal media machine ALREADY intends to do if the law takes effect ...)

As for the so-called "fiscal cliff," the reason it is seen as "bad" is because the combination of higher taxes and spending cuts would likely cause the U.S. to enter at least a short-term recession; it would join the EU, Japan, and other economies in contraction.

BUT AT THE SAME TIME, it would be a dramatic "down payment" not only on the rising debt, but on prudent fiscal policy that makes investment in the U.S. a better deal; and that should spur future HIGHER rates of growth and employment! (In fact, if American leaders would only hold their mouths right, imposition of the new rules could revise credit ratings UPWARD on U.S. debt; as is, only one of the predominate agencies has US debt beneath 'AAA;' then, allowing the law, here, to go into effect could remove future doubt about the USA' "willingness to pay.")

The King wonders if the 'new' Republican leadership, now, is willing to take the heat while knowing that holding the line now will make for a brighter future? Are they willing to see unemployment rise, a bit, as they pursue better economic fundamentals in the U.S.?

Often, the King has heard: "Politicians get blamed for every crisis; but they never get credit for crises they prevent!"

Along those lines, why would any Congressman or party member deliberately set themselves up to "do the right thing" if it put more heat on them; and threatened, potentially, to see them chased from political office?

In our modern conventional wisdom, political leaders are NOT supposed to "do what's best" if doing so threatens their position and power. If the GOPers hold firm, here, and manage to survive the coming media-stoked "sXXX-storm," they might come out on the other side as new American heroes.

This whole thing, of course, is so unlikely the only reason I mention it is because I wanted to bring-up something I and the rest of us could laugh about!

A politician risking his own power and privileges because he knows it is in the best interest of the people he serves?!

Laughing out loud

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