Dec 262010
 

Speaking on Fox News Sunday, Republican Senator, Tom Coburn (OK) warned that the United States will end up like Greece or Ireland if austerity measures aren’t taken. He claimed that the lame-duck Congress had not heard the message sent by voters in November, and that if the Congress didn’t change its course by adopting significant austerity measure, American would experience “apocalyptic pain.”

Senate Republicans’ “Dr. No” spending hawk warned Sunday that America would experience “apocalyptic pain” with between 15 percent and 18 percent unemployment and that the middle class would be “destroyed” if it didn’t get its fiscal house in order.

“If we don’t fix the problems in front of us everybody’s going to pay a significant price,” Sen. Tom Coburn (R-Okla.) said on “Fox News Sunday.”

Bridget Johnson, The Hill

Official portrait of Tom Coburn, U.S. Senator.
Image via Wikipedia

Coburn is just a skirmisher for the battle to come. The lines have been drawn and the strategic objectives set. The Obama tax deal gutted an already hemorrhagi­ng federal revenue base and collapsed the flank for any defense against deep and destructiv­e cuts to the budget that will most certainly be centered in social programs.

The deficit will be back on the center stage but will continue to be defined by Republican­s as a “spending problem.” Tax cuts will be hyped as “job stimulus,” and the vast majority of Americans will be asked to buck up and sacrifice.

It doesn’t matter that the dire straits of our Main St. economy was brought about through the greed of the wealthiest 1%, that a third of the wealth of the middle class was extracted to fill the coffers of rich Wall St. bankers, or that our 17% real unemployme­nt is the direct result of that extraction combined with incessant offshoring of American jobs.

Regardless­, the storyline will be shared sacrifice, but the reality will be that it’s only the bottom 98% who are to share. Listen to the talking heads in the media to see the paradigm is already shifting. They’re talking about “being thankful you have a job” and “being willing to take a pay cut.” It’s all about the “new normal.”

So bend over America — this is going to hurt — but somebody has to pay the price, and it’s not going to be the wealthy, because they own the Congress.


Read the entire Article at The Hill

Enhanced by Zemanta

 Leave a Reply

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

(required)

(required)