Friday, January 4, 2013

Fiscal Cliff...

The 113th congress was voted into office yesterday… and in the closing words of the Who’s 1971 song “Won’t get Fooled Again” …Meet the new boss… same as the old boss. In their final hours, the 112th congress, now infamous for reducing the legislative body’s reputation to an all-time low, passed a last minute minimalist band-aid compromise to avert the so-called fiscal cliff.

One noteworthy element of this piece of legislation effectively raises taxes on wealthiest 2% of Americans, or those households earning $450K annually. This includes the nefarious 1% identified by the “occupy” movement, as well as the 1% wannbes. What is most striking about this legislation however, is what it doesn’t do.

The 11th hour deal did nothing to address the self-imposed “sequester” or the across the board 10% budget cuts enacted by the very legislative branch of government. Instead, it postpones any action for a couple of months… strategically positioned to be taken up after the debt ceiling deadline, occurring in February.

The take-away from this legislative debacle leads one to the logical conclusion of near-complete dysfunction on the part of our legislature.

Over the decades, our American legislature has fattened into a aristocratic over-class, far removed from the experiences of the American public… so much for a representative form of government. From a historical perspective, our legislators have come to resemble another aristocratic class…

The French Revolution should serve as a cautionary tale to our so-called “Public Servants” …for in the immortal words of George Santayana:

“Those who do not learn from history are doomed to repeat it.”