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Be Careful What You Wish For

There is no doubt that Republicans will win big today. They are have made campaign promises throughout this election cycle faster than people can mark their ballots. 

They need to be careful with their promises, too, because if the United States is to become the way the Republicans want it to be, it will not be looking good for the American people. 

There are several realities of their “nirvana” in which they take control of the House.Here are some of the probable effects of their proposed programs:

Tax Cuts for the Very Rich

The Republicans intend to bring back the Bush tax cuts. This will ensure that the upper two percent of Americans get a tax cut. The mantra is that those cuts will bring jobs back because people who have money create jobs. 

As former Secretary Robert Reich documents so well in his book “Aftershock” it is precisely that group of people that does not create jobs. They either save their money, buy homes and factories off-shore or buy luxury items such as diamonds that do little for job creation. 

Middle class consumers spend most of their money in the economy and create the most jobs.

In addition, the tax cuts outlined by soon-to-be Speaker Boehner were reported by The Washington Post to add $4 trillion dollars over time to our nation's deficit. The excuse given by the GOP for entacting the tax cuts any way is that this would create jobs and thereby add to the tax base. But the economic projections just don’t add up in a way that would grow jobs in this economy.

Repeal of Wall Street Reforms

You would think these guys would learn from the massive problems we had in 2008. But not if Senator John Cornyn (R-Texas) has his way. He said he would push to change the reforms that Congress made. Senator Richard Shelby (R-Ala.) said that the reforms were so sweeping that the Republicans would change them. 

Soon-to-be-Speaker John Boehner has already said that the financial regulatory bills passed by the 111th Congress should be repealed.

Privatization of Social Security

The Bush administration tried to privatize Social Security and they even tried to do it through Republican control of the House and Senate. Republican Congressman Paul Ryan’s plan calls for investing a third of retirement money in private accounts. 

Even a non-economist can see this is just a thinly veiled attempt to prop up the stock market. What would have happened had this been the case in 2008 and the government had not acted quickly to bail out some of these Wall Street wonders?

Lobbyists for All

There have been numerous stories about how the Republicans have invited various lobbyists to help them craft their agenda. This doesn’t include the secret money that has been poured into this election cycle. People do not pour money into campaigns without something in return. It will be big money that gets access to the new Congress not John and Joan from the neighborhood.

Repeal of Obama's Health Care Plan

This has been a continuing theme of this election. Repeal “government health care.” The Republicans promise that they will deal with the onerous problems like the ability to purchase health care and pre-existing conditions. I wouldn’t bet on it. When they had control of Congress and The White House there was no legislation that addressed those issues. It is hard to believe that if they have control again that they will have finally have found religion.

The American people are angry. Unemployment is way too high. But, be careful what you wish for. You might just get it. And then what do we do as a nation?

Ellen Ratner is Washington bureau chief for Talk Radio News Service and a Fox News contributor.

Ellen Ratner joined Fox News Channel as a contributor in October 1997. Currently, Ratner serves as chief political correspondent and news analyst for "Talk Radio News Service" where she analyzes events, reports breaking news, and provides lively interviews with newsmakers in government and entertainment. She is founder of "Goats for the Old Goat." Over the last three years, donations have been made to acquire goats for liberated slaves who were returning to South Sudan. More than 7,000 goats have been donated to the people of South Sudan to provide sustainable sustenance for their families and a means to begin their lives again.