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  Topic: None Dare Call It Default
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None Dare Call It Default
Wall Street Journal, by Holman Jenkins

Original Article

Posted By:SoCalGal, 11/24/2012 2:34:44 PM

To call Greece First World may be a stretch, but Greece has defaulted once already, and it is only a matter of time until Greece defaults again. Welcome to default-o-rama, the next chapter in the First World´s struggle for fiscal sustainability. (Snip) America´s fiscal cliff is an artificial crisis. We have no trouble borrowing in the short term. But at some point the market will demand evidence that long-term balance is being restored. President Obama said in his first post-election press conference that he doesn´t want any proposals that "sock it to the middle class." He knows better.

      


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Reply 1 - Posted by: SoCalGal, 11/24/2012 2:40:44 PM     (No. 9032103)

Jenkins opines that Obie knows cuts are necessary but that he wants to position himself and the Dems as the defender of spending. That sets up his younger constituency to go against the older citizens in a hassle over how health care dollars will be spent in the future.

That "death panel" is hiding behind the curtain.

Having just gone through a serious stroke and rehab with a family member, and noting the numbers of younger persons - many in their 30s and 40s - who are having major strokes requiring expensive treatment, I wonder how this can play out. (And don´t forget all the children, teens and young adults suffering from various cancers.)

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Reply 2 - Posted by: NorthernDog, 11/24/2012 2:58:30 PM     (No. 9032124)

You thought your Roth IRA wasn´t going to be taxed? The money will have to come from somewhere, and it will have to come from the people who have actually saved and diligently managed their nest egg.

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Reply 3 - Posted by: sunsong, 11/24/2012 5:06:50 PM     (No. 9032275)

Don´t be fooled - you´ve already had it socked to you - and for years. Now is time to pay the piper. It won´t be fun - but everyone needs to share the sacrifice.

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Reply 4 - Posted by: Country Boy, 11/24/2012 6:01:12 PM     (No. 9032323)

obama´s not after your Roth IRA. He wants a VAT tax, bad, real bad.

Middle class will get crushed. They have it coming. Sycophants.

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