By now it should be obvious to everyone in both parties that what the president means when he calls for a ‘balanced approach’ to ostensibly solve the public debt problem, that he is actually talking about increasing taxes. You know, on rich people who he feels are not paying their fair share.
If he knew anything about free-market economics, he would know that you don’t tax your way to prosperity, and you don’t borrow your way out of debt. If he knew anything about free-market economics he would know that a government that stifles a free market through increased taxation and regulation at a time when what is needed is economic growth and jobs, will do nothing but support the FUD factor. Fear, Uncertainty, and Doubt. The result of which is a depressed, stagnant, and weak economy. Which, according to the bean counters in Washington is where we are now.
Increasing taxes and regulation like (but not limited to) Obamacare, in an economic climate like we have now, will only serve to kill the economy, not save it.
If you want to believe that he and his ‘social justice’ pals are not aware of the negative consequences of their actions, go ahead and believe it. But it won’t change the outcome.
What the President is asking us to accept is economic suicide. When being ‘balanced’ means bleeding the economy to death, then no, there is no room for compromise.
The result is not unlike a ‘balanced approach’ to a mugging:
Give me your wallet or I’ll slit both your wrists.
Let’s compromise, how about only one wrist?