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Life In The Banana Republic

So we now have a first look at the recommendations of the White House’s fiscal commission on how best to deal with the budget deficit, and surprise, surprise — the wealthiest Americans make out like bandits, with even lower taxes than they now pay, while the other 90% of Americans will bear the burden with significant cuts to Social Security and Medicaid/Medicare. The total absurdity of these ideas is beyond belief. For starters, Social Security is not broken! There’s absolutely no reason to modify it in any way — unless of course you are waging class warfare on the lower and middle class. And how in the world do you recommend massive tax cuts if your goal is to reduce the deficit? If you are in debt up to your ears and are working two jobs to pay it off, you don’t go quitting one of your jobs as a way of paying off the debt faster. That’s ludicrous, and yet it’s exactly what the commission is recommending.

And what about the recession in which we are currently mired? Are these people even aware of the fact that we have close to 10% unemployment right now, with no relief in sight You go cutting government spending at a time like this, that means cutting jobs, which means even higher unemployment, which means even lower demand for consumer goods, which means an even worse economy. This is basic Econ 101.

Bottom line for the commission recommendations is that the rich get richer, the middle class and the poor get poorer, and life in the Banana Republic of America goes on.