Showing posts with label deficit. Show all posts
Showing posts with label deficit. Show all posts
Thursday, January 27, 2011
State of the Union: New Tone, Same Tune
According to President Obama, "...if we truly care about our deficit, we simply cannot afford a permanent extension of the tax cuts for the wealthiest 2% of Americans. Before we take money away from our schools, or scholarships away from our students, we should ask millionaires to give up their tax breaks."
Is the President seriously asking us to suspend our reasonable disbelief and buy his argument about whose responsibility the deficit is? That doesn't make sense; Every spending bill signed by President Obama directly added to the ever increasing federal deficit.
Labels:
Congressional Budget Office,
deficit,
Obamacare,
President Obama,
TARP,
tax rate
Friday, January 7, 2011
Obamacare Increases the Deficit
It seems to me that the esteemed Mr. Klein at the Washington Post has been given misinformation about the effect of Obamacare on Federal spending. "But wait," you say, "The CBO just came out with a report showing that repealing Obamacare will cost a hundred billion dollars!" True, they did come out with that report. Problem is, that report is based on the flawed assumptions given to them by then-Speaker Pelosi, and double counts a huge amount of "savings." Cuts to Medicare, for example, are counted twice. (read more...)
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