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It’s the Spending, Stupid

Barack Obama, who seemingly has remained in campaign mode since first entering public life, continues to insist House Republicans obey his command to hike tax rates on upper income earners.  If Republicans do note cede to his demands, Obama is willing to let everyone’s taxes go up and to cut one trillion dollars from the budget, a disproportionate amount of which will come from defense.

Were Obama sincerely interested in solving America’s fiscal dilemma, this would not be his stance.

He continues to make campaign appearances claiming that these higher tax rates are needed to lower the U.S. deficit and cut the national debt.

Nothing could be further from the truth.

The amount of revenue collected by the IRS as a result of such a tax rate increase would fund U.S. federal spending for less than nine days.

According to the latest data from the Congressional Budget Office, at current spending levels the federal government is borrowing forty six cents of every dollar it spends.  Through the first two months of fiscal year 2013 the government is already almost $300 billion in debt.

http://www.washingtontimes.com/news/2012/dec/7/government-borrows-46-cents-every-dollar-it-spends/print/

Medicare, Social Security and interest on the debt are the biggest drivers of the debt.  The true costs of Obamacare have yet to be revealed, but given the U.S. federal government’s track record it is safe to predict that it will be far more expensive than projected and finish in the red every year.

Collecting eight days’ worth of spending from upper level incomes will do nothing to affect the level of spending on any of these programs.

Additionally, Obama willfully ignores that at current tax rates, revenues are up by thirty billion dollars over last year.

Obama, his “progressive” political allies and the obedient lapdogs within the “progressive” Party Pravda continue to foster the notion that raising tax rates on the highest income earners, those who already pay forty percent of all income tax revenue, will be a panacea, the magical elixir needed to solve America’s fiscal woes.

They also continue to lay the blame for today’s deficits on former President George W. Bush.  Bush’s highest deficit was $438 billion during his last year in office.  Obama’s government is poised to post another $1 trillion deficit, which will mark the fifth straight year of $1 trillion or more deficits.

America’s current financial predicament is the result of wasteful “progressive” spending on big government socialist programs.

That is the reason.

America’s debt and deficit dilemmas can only be solved through reduced spending.  If and when the United States falls off a fiscal cliff or receives another credit downgrade, it will be because of “progressives”, not Conservatives.

The conversation should be about how to cut spending, not about how to increase taxes.

Political Party or media employer notwithstanding, anyone who says differently is being intellectually dishonest.

http://mjfellright.wordpress.com/2012/12/07/its-the-spending-stupid/

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Comments (2)

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  1. Charlie Percy says:

    Folks: I can’t stand that leftist creep Obama.. but the one issue of spending that NOBODY (Dem’s or Rep’s)ever puts out on the table is military spending. Military spending is OUT OF CONTROL in this country at about $700 BILLION a year. Not to mention billions a year quietly given in what amounts to supporting the Welfare state of Israel or all the “goodies” in the off-limit “black budget”: R @ D for exploring more new and exciting ways to kill people. The people on the chopping block are always the elderly or the poor. Our infrastructure is falling apart while we sustain hundreds of useless bases around the globe. Stop this insanity.

    Damn: why didn’t ya all stick to voting for the only truly libertarian politician Ron Paul?

  2. Jan Brown says:

    Maybe we could yank these esteemed legislators out of the hallowed halls long enough to to tell them to K.I.S.S (Keep it simple stupid) Pretend it’s your own money you’re spending….Don’t want to take it from your pet project ? Fine, cut the ‘fluff’ from your day & fire a couple of staff membersThen take a look with sicissors at the flat dumb research grants pulling on the milk tittie..oh, cut out the fancy lunches. …be sure you nix all the freebies your taxpayers have no benefit from…..AND PAY YOUR OWN TAXES BEFORE YOU RAISE MINE!!! Probably won’t work as most seem to leave common sense at home.