The President’s Speech

President Obama laid out his claim. It was total class warfare. He wrapped his comments in “fairness”. He also spoke down to the American people. They have heard of the debt ceiling.

It’s funny to me that when compromise is on the table, it’s always the Republicans that are supposed to be compromising. Not the Democrats. Washington has a spending problem-that’s why we are hitting our debt ceiling. I think it’s called, “deficit spending”.

Fairness is subjective. It has nothing to do with real economics. Obama and others in politics repeatedly make normative economic statements, and not positive economic statements. What’s fair to you might not be fair to me.

Then he went into the debt ceiling. He blamed the House for the stalemate-not the four Democratic Senators. He also was disingenuous by saying we would default. America won’t default. We would have to curb discretionary spending.

The tax hike on the American people over the last three years have been the unbridled spending plans of the 2008-2010 Democratic Congress, Obamacare, and the printing press of the Federal Reserve that has cheapened the dollar. Those are real hidden “tax hikes” embedded in traditional Democratic policy.

Obama attacked the Tea Party. In some ways he is correct. The Tea Party only holds one house of Congress. They can’t dictate what should happen, yet. Hence, a compromise would be the phantom budget cuts that both parties are producing, no tax hikes, and no spending increases.

The only thing they are arguing about is timing. Should it be 6 months or 18? It really doesn’t matter.

There is no compromise. The size of the government needs to be cut. It’s not going to happen today. But it could happen after 2012.

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