15 comments on “Flat Tea

  1. Hey Dre,
    Wow, to read this article (If I just landed in the U.S.) I would have thought the Tea Party just took over both Houses and the Presidency. For God’s sake, they get a few dozen faces in and already they’re guilty of not changing all of Washington? The Dems couldn’t (or wouldn’t) do it with an overwhelming majority in BOTH Houses AND the presidency. They only got 40 T.P backed candidates in the House and 5 in the Senate according to ABC and NBC. How can they change anything with 1/20th of the Senate and 1/11th of the House? Btw, it’s a little deceptive to use a number ($858 billion) based on TEN YEARS and compare it to a stimulous ($787 billion) that was spent in ONE YEAR. Also, the vast majority of that money isn’t being GIVEN to anyone as the stimulous was, they get to KEEP it just as they have for the past 8 years. Maybe the Tea Party should have used their giant majority to block or reverse that vote?? I’m not understanding your thinking here.

  2. HipCon,

    All this post does is show that the more things change, the more they stay the same. Tea Party folks (again, another way of saying newer Republicans) haven’t even been sworn in yet and there is already evidence suggesting that spending and corporate influence on Congress – which have both been so vastly villified – won’t stop.

  3. Hey Dre,
    “there is already evidence suggesting that spending and corporate influence on Congress – which have both been so vastly villified – won’t stop.” -I couldn’t agree more on that one. It’s the main reason I feel as though we’re doomed financially. If we don’t cut (in one way or the other) Medicare and Medicaid and restructure Social Security (particually S.S.D.I. which is growing at 17% annually) I can’t see a way out. Just to prove the point; Right now we’re at a 1 to 1.6 trillion dollar deficit (depending on who’s figures you use) and the Deficit panel that President Obama used suggested approx. 200 billion in cuts. That’s only a 1/5 of what we need and they couldn’t even do that. The E.U. keeps passing Austerity measures only to see them shot down by special interests and public unions. If we can’t stop spending beyond our means, there is only one outcome. Read the book “Lennon’s Tomb”. It descibes the fall of the Soviet Empire and how the borrowing by states and municipalities from the central government hid their debt. When the world market started to realize how bad the situation had become, the Soviet Union tried glasnost and perestroika to hide the problem (instead of cutting and fixing it) which only increased the worlds fears. We’re on the same path. Help me understand something. Is the real reason people on the left hate the Tea Party so much because they know that Austerity means less for them and that they honestly believe that the problem can be solved by taking more from the rich?

    “The problem with Socialism, is that sooner or later, you run out of other people’s money.” -Margaret Thatcher

    • HipCon,

      I don’t disagree with the idea that spending is entirely too out of control. I’ve never argued against that. Even if Obama’s been maxing out an already maxed out credit card for progressive causes, the s*** must stop. Not an ounce of contention there from me.

      But as President Clinton proved, drastic cuts in spending aren’t the ONLY answer. Agressive taxation needs to happen as well. Significant reductions in spending coupled with revenue generated by heavy taxes = a few years of traumatic pain…but it also likely equals to a major economic crisis averted. If I had my way, I’d transform Obama into a President of Austerity in a heartbeat. But of course, thinking like that isn’t expedient in our political system.

  4. Hey Dre,
    Let’s play with some math to see how that would work. U.S total Federal tax revenues for 2009-1.053 trillion.(http://www.usgovernmentrevenue.com/yearrev2009_US.html
    percentage generated by top 10% at current 35%-737 billion
    estimated U.S. deficit $1.4 trillion (CBO)

    In order to make things right we would need nearly 3x current levels Tax rates on those top 10% to fill the deficit. ALMOST 100% taxation. Obviously we need other taxes. If we double their taxes to 70%, we’re still going to have to find 700 billion from the remaining 90% who only pay 30% of the taxes. In Clinton’s time you had a growing economy and a FAR smaller debt and deficit compared to GDP. The single biggest problem is medicare and medicaid. I’m afraid the theory of sparing the poor….is impossible.

    • Some of the people who belong to that movement because they actually do believe in the stated goal of the Tea Party might feel a little cheated by the people supposedly representing their interests. But if I could venture a guess, the majority of the Tea Partiers, whose membership in the movement is a reaction to a black man being in the White House, probably don’t feel cheated at all.

      • Hey Terrell,
        Do you really believe that if there was no racial message (by what I would call a small fraction) to the Tea Party, there would be no Tea Party? If so, How would you explain the same movement by Ross Perot in the early 1990’s when the situation financially wasn’t nearly as bad?

    • As tempted as I am to make this about race Terrell, it’s not (at least not as per the Tea Party movement in its entirety). Tea Partyers haven’t been tricked any more or less than any other voter in history. I mean, black folks in Harlem have been cheated by Smooth Charlie for years now. What about the black electorate who put AND KEPT Marion Berry in office? If there is a racial element to discuss here, it’s about people supporting “their own” and those elected officials betraying their trust.

      What I take away from this whole ordeal is lowered faith in just about ALL elected officials. So when I hear about newly elected officials getting cozy with lobbyists, going against campaign promises, and acting in direct contradiction to their constituents, I’m not surprised.

  5. OK, Andre. Enlighten me. Last I looked, the Dems STILL control the House and the Senate. Not a one of the Tea Party members has been sworn in yet. But I’ll make you a deal. How about you repost this sometime around the end of January, 2011. If everything is still true to text, I’ll concede.

    • It’s not too often that I side with conservatives, but Josh is right. Unless all of this happened as they were ACTING officials, this isn’t about the new comers. We’ll have to wait at least another month to see what kind of folks represent the 112th Congress. It’s too early for a post like this.

  6. Hey Dre,
    Have a Merry Christmas and a great New Year! I’ll see ya in 2011 my friend. Don’t make any resolutions that you can’t keep. I’m quitting smoking. (I don’t smoke anyway, this should be easy.)

  7. Hey Mike,
    The problem with Austerity measures are twofold. First, what the public will accept and what it needs are two different things. (Think about the public union strikes and riots and the rejection of Obama’s Deficit Panel recommendations) Secondly, in the short term, your going to have higher unemployment as the public sector trims back to a more realistic size. Theoretically, the reduced debt load by the state, the creation of jobs in the private sector (that were formally done by public sector) should create less costs for the government and more revenue as the jobs are created. This has actually worked, which is why the world markets react positively to it. It’s really the ONLY choice because continuing down the path of more debt, more government and more taxes is a death spiral during bad times.

  8. *One more important point on why it’s better to look toward austerity as opposed to simply raising taxes. You can tax prosperity, but you can’t create prosperity through taxes. For some reason, people get the two scenarios confused.

  9. Pingback: House Repossesion « The Unmitigated Word

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