Pew Research Center has put a number to the media propaganda push to convince the public anything that ever goes wrong is the fault of Republicans.
With the nation facing the potential of the Bush tax cuts sunsetting on Dec. 31, coupled with spending cuts, which throw the nation back into a recession — like we’ve ever come out of the last one — 53 percent of Americans say congressional Republicans would be more to blame than President Obama at 27 percent.
Though most Americans admit they don’t understand what the fiscal cliff means — just 28 percent say they understand the consequences very well — those surveyed, nonetheless, foresee dire consequences if it happens, because that is what the press told them.
But Cato economist Dan Mitchell says the fiscal cliff is a mere speed bump compared to what is coming and what no one, but no one is doing a damned thing about.
“If we go over the cliff, it simply means the economy will grow a bit slower and politicians will spend a bit more money. And the sequester actually would be (modest) good news, since it means the burden of government spending would be “only” $2 trillion higher 10 years from now, rather than $2.1 trillion higher. And even if Obama prevails in the fight, that simply means that we get a different mix of tax hikes and spending rises at a faster rate. Sure, that’s bad for the economy, but it’s not the end of the world. The real crisis is the ticking time bomb of entitlement programs and the welfare state.”
He then spells out the real problem that will explode in a few years or perhaps decades:
“… if you add up the amount of money that the government is promising to spend for entitlement programs in the future and compare that figure to the amount of revenue that the government projects it will collect for those programs, the cumulative shortfall is more than $100 trillion. And that’s after adjusting for inflation. Some politicians claim this huge, baked-into-the-cake expansion of government isn’t a problem, because we can raise taxes. But that’s exactly what Europe’s welfare states tried — and it didn’t work. Simply stated, even huge tax hikes won’t stem the flow of red ink in the long run if government keeps growing faster than the private economy. This is the fiscal problem that demands attention.”
Maybe going over the fiscal cliff might jolt a few people awake. Nah, live for today. In the long run we’re all dead and it is the Republicans’ fault.