This surprising blogger who retired from a long career in banking and finance goes after his local congressman from Colorado and the Democratic party for all their deceptions regarding the Bowles-Simpson budget proposal.
Bowles Simpson slashes social security, Medicare, Medicaid, and other vital programs while cutting taxes substantially below where they would be if the Clinton era tax rates were simply continued. It imposes a maximum spending level as a percent of GDP at historically low levels and is designed almost like a constitutional amendment in that it will require a 60% super majority in the senate to overturn. While it may close some corporate tax loopholes, it eliminates taxes on foreign operations, a gigantic giveaway given how easily corporate flows can be manipulated in the global economy.Obviously, this represents another attempt to fool the American people in more "change we can believe in". (sarcasm)
So, who are you going to vote for? Tweedledee or Tweedledum? Isn't it wonderful that we live in a democracy where one can vote?
