Saturday, December 01, 2012

"Fiscal cliff"? When are we going to do something about growing this economy?

We hear a lot about the "fiscal cliff", or all of these terrible things that will happen on January 1st.

Indeed, some taxes are going up and we are still trying to figure out how BO-Care is going to be implemented at the state level.

My real problem is this:  We have lousy growth.  Our economy is not growing suffienctly to create jobs and pay the taxes that will reduce our deficits.

Friday's WSJ editorial explains everything:

"Without 3%-4% growth, Mr. Obama will never get middle-class incomes back to what they were even in 2007. 

Without faster growth, he'll never raise enough tax revenue to reduce his trillion-dollar deficits, much less finance ObamaCare. 

Without faster growth, he'll be forced to choose between cutting entitlements, raising taxes again, or facing a debt crisis that may not wait until 2016."

That's right.  We need more growth or we won't be able to pay for all of those services that Pres BO promised his voters.

Does Pres BO understand that?

He'd better understand it or he will soon be wishing that Mitt Romney had won the election.

Click here for our Friday show with Dr Ileana Johnson-Paugh:

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