George Wills makes an excellent point: Because the fiscal cliff deal made permanent the Bush-era tax cuts for all but about 1/2 of 1% of top taxpayers, financing the large federal apparatus liberals have in mind – is not possible. “The math” will not permit the vast expansions of federal power!
Now that’s good news! Fought it hook, tooth and nail, with a house speaker jaw boning a deaf president in private, this is nevertheless, a good thing.
Now we plunge on to another crises: The Debt Limit. Fiscal legislation originates in the House, money measures must originate with it. If it wished, it could mandate (to maintain the good faith and credibility of the United States) allow for interest payments to investors, and shut down any expansion of further debt.
It would be vetoed – of course – and a crises of “government shut-down” ensue. Only essential federal expenditures could take place. One can’t ask for a more conservative approach to spending! Hopefully government, under those circumstances, will shut down. The result of Senate inactivity, or veto should the Senate pass the bill proposed by the Republicans in the House.
- Senator Ted Cruz Pushes His “Opportunity Conservatism” on FOX News Sunday (Video) (thegatewaypundit.com)