Palin logic

English: Sarah Palin at the Time 100 Gala in M...

English: Sarah Palin at the Time 100 Gala in Manhattan on May 4, 2010 (Photo credit: Wikipedia)

According to Sarah Palin, if the GOP induce default and Barack Obama does not prevent it, it is an impeachable offense. If on the other hand, President Obama uses the 14th amendment or other unilateral means to avoid default, it will be an impeachable offense. Damned if he does and damned if he doesn’t. Would the country be better off now if Sarah Palin had been elected in 2008? I don’t think so. I doubt that she wrote this herself; it sounds like something that was written for her.

US national debt


English: (Photo credit: Wikipedia)

If we pay payroll taxes for 30 or 40 or 50 years as I did, then an individual is entitled to expect that the government lives up it its promises and provides adequate Social Security and Medicare benefits. If lenders lend money to the US government to fund the US national debt as wealthy citizens here in the US and around the world together with some governments have done, then they are entitled to expect repayment with interest in the future. Thus it is possible to look at all government expenditures as an entitlement of some sort. One principal difference among the various forms of entitlement is whether the funding is voluntary or forced through taxation. Another principal difference and one that is often overlooked is who are the beneficiaries of government entitlements? In the case of Social Security and Medicare, the beneficiaries are the 99%. The 1% pay payroll taxes too, but they are wealthy enough to pay for their own retirement and health care, most of us are not. The beneficiaries of the national debt being repaid are the 1%, wealthy individuals here in the US and around the world and some governments.

As I see it, some in government are willing to reduce some entitlements if the beneficiaries are the poor and middle class, while entitlements for the 1% must not be touched. Looked at that way, the GOP willingness to reduce Social Security and Medicare while preserving those entitlements of the wealthy 1% make perfect sense.

Mountains and molehills

Mountains - Autumn in Denali

Mountains – Autumn in Denali (Photo credit: blmiers2)

Molehills into mountains and fiscal molehills into fiscal mountains. The GOP and much of the media are trying to turn a fiscal molehill into a fiscal mountain on which there is a fiscal cliff. The media are doing it through ignorance and a desire for ratings. The GOP are doing it because they lost the election and failed in their stated goal of making Barack Obama a one-term president. They, the GOP,  see the fiscal cliff and the debt ceiling fight to follow as a way of delivering a one-two punch to the President’s second term, thereby weakening him and preventing the implementation of the voters’ preferred agenda. The results of a democratic election are only binding on the GOP when they are the victors.