Now Obama Wants Fiscal Restraint
by Big Dog on Feb 23, 2009 at 20:36 Political
After signing the largest spending bill in the history of this country accounting for over one trillion dollars that we do not have, Barack Obama said that he intended to slash the deficit by 2/3 using a pay as you go plan. According to The Won, he intends to require a funding source for any spending. This is the same promise the Democrats made prior to the 2006 mid term elections and one they reinforced in December after they had won the majority. They were criticizing George Bush for his spending and promised not to spend money unless there was a funding source. They broke that as soon as they were sworn in and they certainly broke it with the spending bill.
It is convenient that The Won has decided to be fiscally responsible after he spent over a trillion dollars. That is a trillion that did not have a funding source. OK, the source is our grandchildren.
Obama stated that his plan means if they are to spend money then they will need to find something to cut. They will cut NOTHING significant because government never cuts. Obama is saying that he will fix the deficit he inherited. Here is a newsflash, all presidents in the past have inherited a deficit. Clinton had no surplus, that is an urban legend. The reality is the government still had a deficit when he left office.
Now, the amount was not nearly what it is now but spending a trillion more will not make it better.
Here is what is going to happen. Obama will say that he has cut everything that is possible but that they still need to raise revenue. Then he will levy a huge tax increase on taxpayers. He will tax the rich but that will depend on what definition of rich he decides to use. He changed it downward about 5 times.
He will allow the Bush tax cuts to expire which will cause a tax increase for the middle class. The middle class will be hit hard because they were the biggest recipients of Bush’s tax cuts (despite what the left says about tax cuts for the rich). I am willing to bet the marginal tax rate will be above 50% for the wealthier taxpayers. During Carter that 50% was levied on people making about $47,000 a year. The top rate was near 80% and I imagine that Obama will try to push it that high in the next few years.
He will be like Clinton and discuss how hard he tried and mention a number of times that he inherited the mess and that it is worse than he thought and all the other code words used as excuses for raising taxes. Obama will then go into the only leadership style he knows and that is crisis mode. He will tell us that it is a crisis and that we need to act now. He will then raise taxes.
Inflation will go up, unemployment will go up and revenue to the treasury will go down. History tells us this is what happens.
Don’t be fooled by the pay as you go scam. This is the precursor to raising taxes. They have to be able to convince people they did all they could and raising taxes is the last resort.
Source:
My Way News
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Tags: Democrats, fiscal responsibility, lies, Obama, tax increases
Amazing – after all these little pet projects have been porked into a non-simulus BS bill, now we need to be responsible with our spending. Unreal. There are a number of ways to cut government spending – like putting a freeze on all elected officials pay, making them buy and pay for their own vehicles and expenses, the list goes on and on. But none of them will be implemented – they will continue to live high on the hill while milking us for every penny WE earn. I’m disgusted.
“like putting a freeze on all elected officials pay, making them buy and pay for their own vehicles and expenses, the list goes on and on.”
Sounds good to me.
Something we can all agree on.
I can’t stop laughing at you over the surplus nonsense. Yes, that surplus. What an urban legend. How dare the people who define what a surplus is and isn’t say Clinton had a surplus when clearly you know he didn’t. That CBO…what a bunch of liars.
Sorry Adam, the CBO reports a DEFICIT for every year Clinton was in the White House. I have posted on it and have provided the links.
As for the way they do it, it still shows a deficit. But, if you borrow $10,000 from your father and then pay off all your bills the credit companies see you as having no debt. The reality is you owe the 10 grand.
But no matter what, the numbers are there and all you have to do is look at them.
The cynicism of Democrats is positively breath taking.
They can say whatever they want, no matter how blatantly it flies in the face of the truth, and the popular media, TV, newspapers, nightly news, The Daily Show, Leno, Letterman, and every other show watched by the mind numbed dipsticks that make up the ‘conventional wisdom’ demographic will repeat it as Truth.
What happened to reporters ‘speaking the truth to power’?
schatezee, I think you hit it pretty much on the head, just as BD does.
They will continue to live high, and in addition, make anyone near their level look like bad Americans for having more. They work very hard at making financial success look like a crime that needs to be paid for by -them- taking -your- money.
Unfortunately, this isn’t just the Dems anylonger; many Republicans are well on the way to that method of polit-speak.
I am in favor of a reduction in government worker (all forms) pay. In a recession, it is an honest thing to do. Government should bear responsibility just as the people do.
Adam, question; do you think Clunton created a suplus or not? What are you trying to say? Who is the “you” that laugh at?
Bush spent some serous money on fighting the wars of his eight years. Some claim as much as $450 billion. Obama spent twice that in the first month, fighting his “war.”
Frankly, I am very concerned here.
[…] bit of humor goes to Big Dog, of Big Dog’s House. Be sure to check out his post entitled, Now Obama Wants Fiscal Restraint: “…Here is what is going to happen. Obama will say that he has cut everything that is […]