EBTs, I like that, it makes a clear delineation.
He said he intends to cut them. I expect, at the very least, no increase.
Also, I think, I keep hearing in not so direct language that he is going to
cut regulation.
Mittens is a politician - a Republican who was elected in Massachusetts. In order to do that you either have to be comfortable lying to people's faces and telling them you are a liberal, or you are just a liberal to begin with. If you go back and watch older videos of Mittens, he has the opposite position than he says he does now. Add to the fact that he can't see that Obamacare is wrong at BOTH the Federal AND the State level, as its a violation of the right of conscience, the right to property and the right of association. This is the man who said he wants to keep the provision of Obamacare where you can't be denied coverage for previous conditions.. meaning its no longer insurance and without govt subsidies and forced participation provided by Obamacare, the insurance industry will die, or be so expensive that NO ONE can afford it. If you don't care about the inalienable rights of your citizens or the math, then you are a liberal, or just power hungry. I am hoping for the latter, and that Mittens will dance with the ones that brought him - but a principled leader for our cause he is not, nor can he be.He is an appeaser. He will help us only so long as he believes he needs to appease us.
But as I said, the trap is already set. Say Mittens DOES ease up the regulations- and we have cheap gas again,and the economy starts to grow at a decent rate. The Fed is printing over 1 trillion dollars a year now. You need a consistent 6.6% growth rate in a GDP of15 trillion to give that money any meaning in the real world - and that is without trying to make up for the last 4 years of Obama, much less 8 years of Bush. And 4 Trillion of that 15 Trillion GDP is govt spending to begin with, so if we assume Mittens actually "cuts" spending so that its the same as last year ( In Washington they assume a 6% increase, and anything less than that is a spending cut), that means the private economy of 11 Trillion has to grow by at least 9% to cover the trillion the government will spend in deficit via money printing- just to tread water, and we can't keep treading water without increasing growth further because the boomers are causing the entitlement spending to grow, and Obamacare only presses the accelerator- and don't forget with have increasing amounts of interest on that 1 Trillion we borrowed that the private economy ALSO has to make up for- over and above the 9% rate. Repeal Obamacare and we go over the cliff at 55 mph instead of 90 mph, but over the cliff we will go.
If the economy starts to grow again, but at less than those (extremely unlikely) rates, and nothing is done to reform entitlements, which is what I expect the cowards to do, then we get high inflation (and maybe hyperinflation) because the velocity of money will increase as people gain confidence in the recovery. This effect will probably kill any recovery pretty much as it starts. They could of course raise interest rates to try and kill the inflationary effect, but that will raise the governments borrowing rate as well, and again the burden of paying for that debt is placed on the private sector - again over the 9% it has to grow just to keep up with the original principle.
The hole has just been dug too deep for us to "grow our way out" - I offer no rays of sunshine, because the light at the end of the tunnel is a inbound train, not daylight. Cling to the walls and brace for impact. Math is a stubborn thing.
