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He wants America's social contract destroyed. Both parties share blame. Bipartisan duplicity targets Medicare, Medicaid, Social Security, publicly-funded pensions, food stamps, unemployment benefits, and other domestic programs. They're vital to sustain.
Initial cuts are for starters. Much more is planned.
The New York Times supports the worst of Obamanomics. It blames Republicans. "Why are (they) so happy when they should be ashamed," it said?
Left unsaid is Obama's slash and burn demands. He insists deficit reduction be made on the backs or ordinary people. He's been cutting social programs all along. He wants much more.
He's hardline and unsympathetic. TimesSpeak blames Republicans alone. Doing so turns truth on its head. The criminal class in Washington is bipartisan. Don't expect Times editors to explain.
Economic conditions are dire. Open-ended QE failed. Money printing madness doesn't work. America's economy is contracting. Markets pay no attention.
When asset prices detach from fundamentals, bubbles result. The more they inflate, the greater the eventual pop. Systemic failure looms. When is anyone's guess. Deficit cutting promises harder than ever hard times.
In Q IV 2012, America's economy stalled. Since 2007, no growth occurred. Weakness defines things now. Conditions steadily erode. Sequestered austerity accelerates the process.
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