Obama, Let's Raise Taxes So We Can Spend More!

JoeBtfsplk 2012/07/10 15:20:20
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President Obama announced his plan last week to increase taxes on small businesses as part of a plan to tackle the debt: “So, that’s why I believe it’s time to let the tax cuts for the wealthiest Americans, folks like myself, to expire… I might feel differently if we were still in surplus. But we’ve got these huge deficits. And everybody agrees that we need to do something about these deficits and these debts.”

Sounds great except one BIG problem The President’s budget which contains this tax as part of a larger $1.9 trillion hike in rates produces an astonishing $11 trillion in new gross debt!

To put it simply, Obama wants to raise taxes and spend it on new programs with no intention of reducing the deficit or paying down the National Debt.

Obama is not the only problem.

It has been 1,170 days since Senate Democrats last passed a budget plan for America.

The fact that Harry Reid did not even allow the Senate budget committee to meet and work on a budget resolution last year has not stopped the government from spending $11 trillion and adding $4.7 trillion to the debt during this time.

American debt has now surpassed 100% of GDP which many economists believe is one of the main reasons unemployment remains at record highs and will remain there for the foreseeable future.
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