It’s Still Government Spending, Stupid

Michael Fell
December 29, 2012 Posted by Michael Fell mjfell@hotmail.com

Barack Obama, who has stayed in continuous campaign mode since birth, persists in insisting House Republicans submit to his demands to hike tax rates on “the rich.”  If Republicans do note cede to his decrees, Obama will let everyone’s tax rates go up and cut obama_liesone trillion dollars from the budget, half of which will come from defense government spending.

If he were truly interested in solving America’s fiscal troubles, this would not be his position.

Most definitely not…

Obama carries on with his nonstop campaign-style appearances, claiming that higher tax rates will reduce the U.S. deficit and cut the national debt.

That is categorically complete, total, absolute, utter fantasy.

The amount collected by the IRS from Obama’s long lusted for tax hikes would fund U.S. federal spending for fewer than nine days.

For members of the self-imagined, self-appointed “progressive” intellectual elite: That is less than two weeks.

At current spending levels the U.S. federal government borrows forty six cents of every dollar it spends.  Despite the fact that 2013 has not yet begun, through the first two months of fiscal year 2013 the U.S. is already approximately $300 billion in debt.

The biggest drivers of U.S. deficit spending are Medicare, Social Security, “safety net” programs and interest on the debt.  The looming short and long term costs of Obamacare have yet to fully reveal themselves, but given the U.S. federal government’s track record one can safely predict that it will be far more than what taxpayers were told and will rape their wallets for billions every year.

In other words, under the White House’s current “progressive” policies, it is only going to get worse, not better.

obama_pelosi_reidThe Oval Office occupier and his “progressive” Party Pravda press secretaries willfully ignore and refuse to mention that under the current tax rates, revenues are up by thirty billion dollars over last year.

Obama keeps claiming that raising tax rates on America’s highest earners, those who already pay forty percent of the revenue to the IRS, will be the silver bullet that solves America’s financial woes.  He continues blaming today’s deficits on his predecessor.

During his time in office, George W. Bush’s highest deficit was $438 billion.  Obama’s government has posted a $1 trillion plus deficit for four straight years.  2013 will make five.  America’s fiscal gloom and the looming “fiscal cliff” “crisis” are the result of “progressive” spending on wasteful big government socialist programs.

That is the reason.  Any other claim is pure unadulterated political snake oil.

America’s debt and deficit problems can only be resolved by cuts in spending.  When the United States receives another credit downgrade, it will be because of “progressives”, not Conservatives.  America needs to cut spending, not increase taxes.

Anyone who says differently should be in organic fertilizer distribution…or is that redistribution?
Warning: This show is addictive

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One Response to It’s Still Government Spending, Stupid

  1. messup on January 3, 2013 at 10:03 am

    Let’s call all this flim-flammery for what it really is…smoke an’ mirrors!
    Read ‘em an’ weep!
    http://www.economist.com/news/21566430-where-be-born-2013-lottery-life
    Item of interest for those New Left Progressive activists having decided to collapse America’s capitalism for that of Marxian/socialist western European type economy(in the USA).

    About Warren Buffet the “Oracle of Omaha.” On Bloomberg TV, 1/2/2013, he chortled (when asked how 2012 treated him) that 2012 was very good to him…increased his net worth some “17%.” When asked what was his best investment…BOA (Bank of America) was his answer.
    Lets “We The people” analyze this statement:
    1) In 2008/09 BOA and “all of the too big to fail” banks and investment companies were graced with “TARP I.” Treasury Sec. Paulsen’s gift to those financial institutions who knowingly were active in and participated with “the subprime debacle” and explosion of “the housing bubble.” Remember all the bonuses, too, these savvy banks and investment companies “were under contract to honor?”
    2) All the TARP I,II,QEI,II,III, TWIST and now a modified QEIII are going to be paid for by the “Fiscal Cliff” quasi negotiations ad infinitum? Not on your sweet patootie!!! Increased taxes to “the great unwashed across these fruited plains” are who will foot this “new increase in the debt limit” looming before We The People.
    3) “The Oracle of Omaha’s” 17% net increase in his net worth in 2012 is called “reverse re-distribution of income!!!” See, folks We The People paid for all of the TARP, QE’s and TWIST programs given to all “the too big to fail” companies in the USA, and overseas. Our taxes shored up these Wall Street tycoons investments, golden parachutes, bonuses et al. Don’t you see???Wall Street vs. Main Street by We The Elite People of culture of corruption in Washington DC is collapsing America’s capitalism and encouraging Western European style economy to proliferate across America….all for:1)greed, 2)power and 3)ultimately corruption. Pray. Amen.

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