Y’all pretty much know what I think about Sequestration, but now with the fiscal ‘cliff’ negotiations (read more campaign stops); I think we’re truly screwed and not going to get kissed either.
The dems are just flat refusing to budge on any ‘cuts’ to entitlements, and now the Prez is out campaigning for the ‘little people’ (read unions) to back him. Â Now I did read all of the WH Â sequestration package, and ALL the cuts come from Defense and Medicare/Medicaid. Not a single program that “I” would call an entitlement is listed (those include 99 week unemployment, food stamps forever, welfare, “free” phones, etc.)
A number of years ago (1996-7), Wisconsin did away with Welfare and did ‘workfare’ called “Wisconsin Works”; one report on it can been found HERE. Â The usual hate and discontent ensued, until people realized there was NO option, and in looking at the numbers, it appeared 44% failed to convert because they expected the gov’t to do it for them.
Another interesting part is the fact that the number of ‘self-reported’ disabilities skyrocketed, and lots of folks LEFT Wisconsin for neighboring states. Another good report is HERE on the Temporary Assistance to Needy Families (TANF) which was the program to limit welfare/workfare to 5 years…
Now, we have THIS from Obummer’s crowd… No requirement to work, no time limits, etc.
And I haven’t heard the first peep about re-looking at any foreign aid packages either…
And let’s not forget taxes… And the whole Alternate Minimum Tax (AMT) issue… That is not just for folks above $200K; it does impact people at the $50k income level.
Forbes Magazine does a pretty good job of explaining the issues HERE. Â
And the latest ‘tactic’ from the WH is to press to ‘vote’ on the tax relief “now” and discuss spending cuts “later”…
Now does anybody believe THAT will really happen???Â
I don’t… I think they are going to run us off that cliff, raise taxes, gut the military and probably Social Security (since they don’t contribute, why should those of us that DID get anything), and go right on spending this country into a third world country…
I believe we will see the USA be downgraded to (if we’re lucky) AA rating, and I’m betting we’ll see hyperinflation in the next two years. Â I just hope it’s not as bad as Argentina (reference HERE). Â
And we will not be able to service the debt on the loans to China et al, because the rates will be higher (that pesky rating)…Â
And will have no military capable of actually responding to any crisis, nor will we have the capability (either engineering or manufacturing) to replace anything in a timely fashion. Â I also believe the service industry will go in the tank, because people won’t be able to PAY for those services…
Think what a $3700 tax increase, plus $70-100/mo Obamacare costs will do to your ‘current’ disposable income. Â Now factor in let’s say 10% inflation, and say you were making $100,000. Now you ‘need’ $110,000 just to stay even, but now you only have $96,300- $1200, so now you’re down to $95,100. Â
But wait, your employer decides your health care is too expensive, so they cut you to 29 hours from that 40 hours you were getting…
EDIT- Peter has a post up on that very subject HERE.
$72,500-$3700-$1200, so now you’re down to $67,600… BUT to maintain that lifestyle you were accustomed to you need $110,000…
So how are you going to pay that maid, pool boy, eat out 3-4 days a week??? Or pay child care??? Or those two new car payments, or that house you’re upside down in???
Think this isn’t a possibility? Â This week a friend of mine in the defense industry just got her contract hours cut by 50% on her job (and was told take it or leave it), another friend is being laid off on Friday, and I’m hearing that some agencies are ‘accelerating’ their ‘mandated’ 30% cuts in support/contractor personnel by not funding them in CY 2013. Â
I would go drink heavily, but I just realized in the choice between booze and gas, I better do gas… sigh…
Kicking the soapbox back in the corner, and sorry to be such a downer…
Am I totally wrong here??? Â PLEASE tell me I’m wrong… Sigh
Sadly, agreed across the board. I think the real key here is that this is purposful. Obama has enough expertise around him that he knows this is coming. And he thinks the Republicans will “blink” . . . . . which I suspect is a real possibility.
Then he can get about the real transformation of our country into a Marxist paradise. Next target – 401Ks there we created by evil rich people. They will need to be “converted” to a government plan, which EVERYONE will be eldigibal for just because . . . . .
Well, that would be fairer than actually working for your retirement.
Bumpy ride sir, bumpy ride!!!
I wish you were wrong, but unfortunately I think you pretty much nailed it.
It’s the ObamaNation in full swing.
A brave new world.
Unfortunately, I also agree across the board. I don’t have a clue whether anyone will blink or not. In my mind it doesn’t matter. I think that the damage has already been done. The only question to me is whether it all falls apart quickly or slowly. With Obama’s re-election, I think it may happen sooner rather than later.
I’m doing everything I can to be as self sufficient as possible. The less I have to depend on anyone, the better off I’ll be!
Good luck everyone, it’s gonna be a rough year!
“Am I totally wrong here??? PLEASE tell me I’m wrong… Sigh”
————————
You’re totally wrong here NFO. This is going to get much worse.
Obama’s powerbase in failed states like California are broke. Obama is going to have to bail them out and will probably do this by a means of transfer payments from ‘have’ states to ‘have not’ states like Canada does. After all…you have a DUTY to care for the less fortunate, right…?
And just think of the uncounted billions tied up in your 401k’s…! Boy oh boy – he could help ALOT of people by ‘re-distributing’ that money, right?
And of course – abroad, since there is no world cop to keep them honest, every two bit gangster gov’t will flourish and expand.
Good luck, Yanks.
JM
No, you’re right. We are screwed, blewed, and tattooed.
As for the 401k, him doing that might be the one thing that gets liberal producers pissed at him. It would be like what will happen when the free government checks stop coming.
You are right, but there MIGHT, repeat MIGHT be a small sliver of light at the end of the Tunnel. Say all this happens, and the Powers that Be have to reap what they sow. It’s POSSIBLE that the Republitards can get the Senate back in 2014. Remember, Obamacare comes around Full Force in 2014. And when 60 Million Sheeple realize that they HAVE to Pay to get their “Free Health Care,” the Mid-Terms may go to the Repubs.
But I fully expect the Repubs to Blow that Opportunity also. But there’s a chance.
The best way to instill a socialist/communist government is to crash the economy and force the folks to “willingly” depend on you. This administration has zero plans to help the economy. The worse it gets, the better it is for them.
And then (some) people wonder why Heinlein dreamed of emigrating to the moon …. sigh.
I think we are going to see a lot of service industry (hotels, grocery stores, etc) jobs go to either 3×8 days/hours or 2×10 days/hours and people will work 2 of them. They will work 3×8 for Company A on Mon-Wed and work 2×10 for Company B on Thurs/Fri.
We will see.
I think it’s going to be worse than you imagine NFO.
Makes me wish I’d learned to put in a garden.
I would love to be more optimistic about this. But I still have three functioning brain cells.
The last tiny vestiges of the principles and freedoms on which this country was founded, the land of hope and oppurtunity that I grew up in, and the country I served and helped defend, are gone now. All that remains is the detonation.
My Lovely Bride says I shouldn’t be such a pessimist. I’m not, really. I’m an optimist who’s been screwed too much.
eia- Concur with all.
Tim- you’re NOT helping… sigh
LL- And NOT one I want to be a part of.
N91- Well said.
JM- I think you’re probably right, if a bit ahead of their ‘schedule’… dammit
DB- Point
Les- Possibly…
Agirl- Exactly!
Rev- Yep!
Larry- Good point, and they STILL won’t have benefits…
Rick- Get the books… Not too late to learn!
Don- Sadly, I can’t say I disagree…
I, too, think it will get much worse.
We are PAST the tipping point where things could have been turned around.
0bummer is doing this on purpose.
I’m seriously considering pulling all my money out of my 401(k)’s and just taking the hit on it this year.
drjim- THAT is an option I hadn’t considered, but might be worth it… Mine’s a 100.25k now anyway… sigh
I’ve been eliminating expenses, getting rid of debt, and going into survival mode now for two years. I see the whole rotten structure collapsing.
One thing anyone can do now. Stop using banks; use credit unions. Their operating expenses are much lower and are more likely to remain solvent.
The end times had to happen sometime.
Welcome to Weimar, pop. 3,012,000.
@NFO- I pulled mine waaay down a couple of years ago, and converted it into “other” holdings.
@WSF- Been using a Credit Union since 1984, and agree they have much better service, and rates, than banks do.
WSF- Concur and I’m in the credit union too…
Ed- agree… dammit
drjim- Yep!
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There are also no hidden or further documentation or
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There are also no hidden or extra documentation or faxing required here.
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The general standard applicant criteria right here is that they should be a UK resident and of 18 years of age.
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