Is a Severe Recession Obama's Plan for 2012?

If you thought we barely passed through a bad recession, then wait for 2011. The huge tax increases that will occur when the tax cuts of 2002-2004 expire will deal a severe blow to our economy, which could send us into a much severe recession that the one we didn't even recover from.

Despite all the lies that come out of Obama's mouth (and I'm shocked at how he can keep a straight face while telling them), small businesses will suffer a deadly hit after January 1st. As you can read in today's Wall Street Journal, 48% of small business income will see a tax rate increase from 35% to 40.8%. That's a 5.8 tax rate increase, or more precisely, a 16% increase in the tax liability. At the end of 2011, as a small business owner, you should be happy to still be in business.

Now consider the fact that the GOP will take over the House (according to a study published by the Huffington Post, there's a 79% chance of that happening). Also, the GOP is very close to also getting the Senate. According to the RCP averages, Republicans will win 8 seats. That leaves them to win 2 of the other 3 competitive races (Wisconsin, California and Nevada), which is very probable.

So what's gonna happen? Republicans will control the full Congress, Obama will prevent them from passing any relief measures, and will blame the recession that he engineered on an inept GOP Congress. Then he will run on this in 2012. It seems like the only thing that could still save him, given the total support from the media.