Farce

President Obama signs an executive order creating the bipartisan

National Commission on Fiscal Responsibility and Reform. Behind
him, Alan Simpson waits for the signature to be complete before
handing him the commission's recommendation to raise taxes.

I kid of course. The commission will still have to hold meetings to decide how much to raise taxes and what form they will take. VAT anyone? This is, pure and simple, a cover for the man who promised lower taxes for the middle class to raise them.

I wonder how many true believers are left out there. Does anyone believe there's a chance in hell that these guys will come back with a recommendation to leave taxes alone and spend less?

From WSJ:

The same day President Obama called for another $50 billion to $100 billion stimulus plan (and concomitant increase in the deficit), he also appointed the chairmen of his Deficit Reduction Commission. It says a lot about Washington that almost no one got the irony of those paired announcements.

The two cochairmen will be Democrat Erskine Bowles, President Bill Clinton's former White House chief of staff, and Republican Alan Simpson, the former Wyoming Senator. Mr. Simpson was best known for being a thorn in the side of conservatives and supply-siders when he was in the Senate. "He is a tax increaser and he's anti-immigrant," says Grover Norquist of Americans for Tax Reform.

The fix is in folks. The captain asks you to prepare for descent.

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