Approaching The "Fiscal Cliff"

Posted on December 3rd, 2012

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Air Date: December 3, 2012

Host: Vic Eliason

Guest: Michael Connelly

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Michael Connelly is a U.S. Army vet, a retired constitutional attorney and the Executive Director of the United States Justice Foundation.

What is the “fiscal cliff” we keep hearing about in the news? Michael defined it as the point at which Americans will face massive tax increases, a time when the Bush era tax cuts would be reversed and spending cuts will take place not where we need them but instead in places we can’t afford them. These cuts will take place in areas such as national defense along with threats to military and veterans programs. All these will happen automatically unless Congress does something between now and the end of the year.

Michael believes we went over the cliff more than a year ago when the Republican controlled House caved in to the president’s demands on the debt ceiling.

Remember the “Super Committee” comprised of both House and Senate Republicans and Democrats? They were supposed to reach an agreement to cut 1.5 trillion dollars worth of spending over the next 10 years. If it didn’t, the president demanded there’d be automatic cuts. The problem with this concept is that it amounted to representatives forfeiting their right to vote on a topic on behalf of their constituents. In other words, the idea of a “Super Committee” is unconstitutional. This should have been challenged but none of our legislative leaders had the courage to step up and do it.

Michael believes there is no offer for definite spending cuts on the table from President Obama. He contends that even if President Obama does manage to get middle class tax cuts extended, it won’t make any difference to him because the increase in taxes due to Obamacare and tax increases due to new regulations placed upon the energy industry will make up for those tax cuts.

In the end, Michael feels President Obama wants us to go off the “fiscal cliff”. At that point the president could begin to nationalize the essential elements of government and the private economy. This could include cuts in the military, taking control of the health care system, disarming the populace and even taking control of everyone’s retirement investments.

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