White House says doomsday municipal deficit a “suicide mission”
Reigning in the deficit will be nothing short of a “suicide mission” for the people charged with the task, Alan Simpson, co-chair of President Barack Obama’s bipartisan Deficit Reduction Commission, told CNBC Monday. “We will get it from all sides, the right, the left, but the people of America know that something is very, very dysfunctional,” he said. “The
word ‘entitlement,’ to think you are entitled to something from your government regardless of your net worth or your government is just BS,” said Simpson.
At the state level, it is just as bad. “Doomsday is here for the state of Illinois,” said Laurence Msall, Civic Federation President, to the Sun-Times. “The Civic Federation wants to launch an intervention that includes significant budget cuts and the largest tax increase package in Illinois history, all in an effort to save the state from a $12.8 billion budget deficit. The state watchdog group calls for ‘historical’ increase in personal income tax.”
Some are predicting it will result in Americans experiencing “ordinary human poverty”. Sharon Astyk is a writer who observes thes things. “Our collective crisis seems to play out this way no matter what element – financial collapse, energy prices, food crisis…whatever is in ascendence, we end up in the same final outcome. Expecting growth in the housing market is a lot like expecting growth in the VCR market – the moment is past We could make much the same analysis for many other segments of the economy. Whence the high paying NYC and other urban restaurants that depend on high finance types buying expensive meals? Poof! Whence travel and tourism in an era of unemployment and rather inexplicably rising gas prices.”
Aware Brain 