Yesterday, to my dismay, the Republicans miserably failed the first test of the Voter Mandate that shellacked the Democrat Congressional majority on November 2, 2010. In the process, they created an $105 Billion earmark! How?
A simple task faced the Congress and the President here at the end of 2010: Pass a law to make permanent the tax rates that had been in effect since 2003.
On 11/2, the informed electorate agreed w/ the Republicans that taxes must not increase during a recession. They agreed that the US does not have a taxing problem; the US has a spending problem. They agreed that it was time for a major change. They agreed that Congress and the President must simplify the process of Legislating and create Bills that covered as single topic (ala Health Care and Student Loan Industry takeover).
And the first task for the Republicans, after the election and during the lame-duck Democrat power-grab, was to hold firm on taxes. The electorate was buoyed when the Republican Senate Leaders promised to filibuster any legislation brought to the floor until the 2001/2003 tax rates were extended or made permanent.
But alas… …epic fail.
For weeks the Republicans had held firm in an effort to make the Democrats pay (i.e. deficit neutral) for any extension of unemployment benefits… …and were winning the debate. But, in a spasm of perceived weakness, they capitulated to the Democrats’ will and added the 13-month Unemployment Benefit Extension to the agreement to keep tax rates where they are.
So, in effect, we have an $105,000,000,000 earmark added to a simple bill to continue the same rate of taxation. We have the Democrats succeeding in taking another $105,000,000,000 from our children and grandchildren. And, we have an epic failure on the part of the Republicans.
For all the posturing in support of the Tea Party, Conservative principles, low taxes, massive spending cuts, and regulation reform… …the first step out of the gate for the newly enlightened Republican Party is an $105 Billion Earmark.
$105,000,000,000 = Average $290 Per Week * 7,000,000 Beneficiaries * 13 Months * 4 Weeks
…and that doesn’t include the Government’s administrative costs.