Daily Fix, April 12

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Budget, budget and more budget – and an exclusive opportunity to see “Atlas Shrugged” on the big screen.

*As we talk about the budget, free markets and entitlement programs, Ayn Rand’s novel “Atlas Shrugged” is frequently referred to as an example of what happens when the government takes over and the free market dies. The Utah Young Republicans are bringing the movie to the Jordan Commons in Sandy at 7:30 PM, Saturday, April 16. We’ll start seating at 7:10. There is limited seating for the first 225 individuals. RSVP by emailing Dan Burton at utahyoungrepublicans@gmail.com and he will give you the payment information. I’ll be there. You should be too. Utah YRs

*The debt ceiling increase looms.  Timothy Geithner says we much increase by early July or the government “will” begin defaulting on its loans.  Republicans say there is no chance of passing a debt limit increase without significant cuts.  The White House wants a “clean” bill.  So what happens if we don’t increase the debt limit?  One possibility is that we begin raiding pension funds.  Kinda like we did on Social Security… WaPo

*Meanwhile, the American people has helped to create a “suicidal” government, where the majority of citizens want to increase spending, but think their taxes are too high. According to an article by Robert Samuelson, few Americans realize the extent of their dependency. In addition to benefiting from one or more government programs, we now try to be all things to all people. “Once politics was about only a few things; today, it is about nearly everything,” writes the eminent political scientist James Q. Wilson in a recent collection of essays (“American Politics, Then and Now”). The concept of “vital national interest” is stretched. We deploy government casually to satisfy any mass desire, correct any perceived social shortcoming or remedy any market deficiency.Des News

*Wall Street is getting used to high drama in Congress, but the fight over raising the debt limit will test even that seasoned resolve. If the recent funding tussle over less than 1% of the budget was playing with matches, then “the fight over the debt ceiling as playing with plastic explosives,” said Steve Bell, a former staff director with the Senate Budget Committee and now with the Bipartisan Policy Group. “What markets typically dislike the most is uncertainty,” said Douglas Holtz-Eakin, the president of the American Action Forum and former director of the Congressional Budget Office. “The more it drags out, the greater that impact will be, and that’s not a good thing.” The Hill

*GOP leaders got 4 of Obama’s czars axed – except three of the four had already moved on. The language in the short-term budget agreement seeks to put four of President Barack Obama’s policy czars out of jobs — those appointed to assist the president on health care, climate change, autos and manufacturing, and urban affairs. Sigh. Politico

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7 Responses to “Daily Fix, April 12”

  1. John Says:

    I haven’t read Atlas Shrugged; the trailer does not encourage me that it’ll be a good movie. Plus we know it’s Atlas Shrugged Part I so only the first half (or third?) of the book is filmed.

  2. rmwarnick Says:

    Today we found out that the budget deal includes an unrelated rider that kicks gray wolves off the endangered species list. Also, the new budget de-funds the National Oceanic and Atmospheric Administration’s climate research. Utah members of Congress attached a provision that forbids the BLM from spending any money to preserve wildlands in FY 2011.

    The Tea-GOP extortionists are just getting started. Lets hope enough Democrats vote NO to stop this.

  3. Speckk Says:

    @rmnwarnick There is extortion going on, but it’s been going on for decades.

    Congress has been raiding Social Security for the last 40 years. Wall Street barons manipulate the markets and your 401k, complicit with the Federal Reserve printing money for them like there’s no tomorrow. Together they create risk and chaos, grabbing all of our money and socializing the costs into public bailouts.

    Given their track record, none of these groups can be trusted with money, so why fall for their squeals of pain over any cut? We can’t afford this graft and corruption, so it’s time to cut our losses and vote for the limited government we’re guaranteed by charter in the enumerated powers.

    Otherwise we’ll continue to see decreases in purchasing power, which is extortion of the average wage earner and the elderly on fixed incomes by corrupt government.

  4. Larry Says:

    America’s progressive left is using these almost inconsequential, drop-in-the-bucket budget cuts to incite a class warfare summer of rage. Here they parade written soundbites across the screen to anger folks to participate in their fast to protest the Republican’s “immoral budget cuts.” Forget that we are borrowing trillions from our grandchildren…. they have a right to be taken care of and they want social and economic justice now!! http://front.moveon.org/why-were-fasting-against-the-immoral-budget/?rc=mo.email&id=26909-18177517-K7_cJbx

  5. rmwarnick Says:

    If there is any rage, it’s going to be directed at Democrats who caved to the Tea-GOP on tax cuts for the rich and budget cuts that are killing the economic recovery. These “almost inconsequential” cuts will wipe out half a million jobs.

  6. Pops Says:

    Those talking points aren’t working. Some of us know how the math works:

    a. People who don’t pay taxes don’t get tax cuts.
    b. 5% of $1M is more than 5% of $100K.

    The other thing we get is that every dollar taken in taxes is one less dollar available for jobs in the private sector. So why should we prefer jobs designed by bureaucrats for bureaucrats instead of jobs that do something useful that we’re willing to pay for

    A decrease in the rate of growth of the budget isn’t a cut – it’s a decrease in the rate of growth. The growth is still positive. The kind of cut we need is the kind that shrinks government significantly. Look at the pie cartoon a few posts down. We need to shrink government down to match the incoming revenue, for starters. The Republican in Congress have pretty much been a disappointment so far.

  7. rmwarnick Says:

    a. That’s why the Bush-Obama tax cuts for the rich are called “tax cuts for the rich.” Because lower and middle-income Americans don’t get the cuts. The federal income tax bill for a person making $15,000 is 51 percent higher today than it was 30 years ago. If your taxable income is $100,000, you are paying 33 percent less today than in 1981.

    b. Why can’t a taxpayer who makes $1 million afford to contribute a higher percentage than one who makes $100,000 (which is a lot more than I make!)

    If lower taxes on the rich led to job creation, how come the Bush administration had the worst jobs record since Herbert Hoover?

    The problem with “shrinking the government” as I noted above, is that instead of cutting the Pentagon budget the Tea-GOP is going after Medicare and other programs that help non-rich Americans. If you want to fight a war on the middle class, expect the middle class to fight back.

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