SEARCH BLOG: OBAMA and ECONOMY
From The New York Times:
In recent days, Mr. Boehner has called for extending all of the Bush tax cuts for two years, which would cost more than $500 billion, and for freezing nonsecurity discretionary spending at 2008 levels, which some analysts say would require cuts of more than $100 billion. [full story]President Obama's plan to only raise taxes on those earning more than $250,000 per year, which will include many small business owners, is seen as a compromise. After all, it is costing the government money.
Has Mr. Obama considered that his wild-assed spending is costing taxpayers their money? The official government spin machine works this way: if projected spending increases are not allowed to happen, then that is a terrible cost to the American people. In order to avoid such calamity, the government must raise revenues [taxes] on those who defy social justice by making too much money.
What will happen to Obama's stash if taxes are not raised?