While the progressives and the media would rather distract and silence the message of the Tea Parties, the truth of their message is still evident. The left can’t understand the protests. In their minds, Obama’s going to lower taxes and Obama’s going to remake the country better. In their minds, they are off the hook. Well you’d need to have your head in the sand to believe that reckless government spending is going to bring all this about.
March 20th seems like ages ago, but let’s turn back the time and highlight some of the key quotes of the AP article “Obama budget could bring $9.3 trillion in deficits.” Keep in mind that this budget does not include the stimulus, the omnibus, TARP and proposed TARP2 bill.
“In his White House run, Obama assailed the economic policies of his predecessor, but the eye-popping deficit numbers threaten to swamp his ambitious agenda of overhauling health care, exploring new energy sources and enacting scores of domestic programs.”
I made the mistake once of saying, “Obama is doing what he said he would do.” I quickly amended that statement. Obama promised us fiscal responsibility. He promised to go line by line and remove wasteful spending. He said he would not sign legislation with earmarks. He blasted Bush’s spending only to more than triple down on that spending. Spending which all Americans (right and left) agree were irresponsible.
“The dismal deficit figures, if they prove to be accurate, inevitably raise the prospect that Obama and his Democratic allies controlling Congress would have to consider raising taxes after the recession ends or else pare back his agenda.”
What? Did Susan Roesgen not hear any of this at CNN before her meltdown in front of yesterday’s Chicago Tea Party? This was reported nearly a month ago. AP points out the biggest reason why the coveted Obama Tax cut (thanks for the $13 a week, Obama) is going to end in 2 years. Interesting how $13 bucks matters to Obama now, but it didn’t over the summer when gas tax relief was proposed.
"Deficits in the, let's say, 5 percent of GDP range would lead to rising debt-to-GDP ratios that would ultimately not be sustainable," Orszag told reporters.
Deficits so big put upward pressure on interest rates as the government offers more attractive interest rates to attract borrowers.”
What do I have to say? Obama’s own budget chief said it all, the numbers aren’t sustainable. I love the investment in the future argument, but how are we to get there if spending is not sustainable?
“Obama's $3.6 trillion budget for the 2010 fiscal year beginning Oct. 1 contains ambitious programs to overhaul the U.S. health care system and initiate new "cap-and-trade" rules to combat global warming.
Both initiatives involve raising federal revenues sharply higher, but those dollars wouldn't be used to defray the burgeoning deficit and would instead help pay for Obama's health plan and implement Obama's $400 tax credit for most workers and $800 for couples.”
So the tax on the 5% has nothing to do with paying off Obama’s deficits? So who’s going to pay for it all? I know it’s hard to believe, but you cannot confiscate $9.3 trillion dollars from the rich, they don’t have it. Perhaps, trillion sounds like too small of a word, so here is what $9.3 trillion looks like, $9,300,000,000,000. Yes, I am getting $400 a year from Obama and in return he is giving me a bill for $67,971 (that’s $9.3 trillion divided by 138 million tax payers) and the progressives can’t understand why people are protesting. Who’s going to pay the bill? We all are and that means you too. Progressives! It will either be in the form of higher taxes or in the form of an economic calamity.
I’ve only covered Obama so far! I didn’t even get into Bush. I’ll leave the progressives to level the spending charges there. Even before Obama the US had the 2nd highest corporate tax rates, which are not too expensive to cut as some would say. Obama has proposed the 2nd highest capital gains taxes. The government has squandered our social security funds. I live in NY, which means I pay the highest state income taxes, the highest state sales taxes, the highest gas taxes, Patterson’s proposed the highest state energy taxes, and I live in an area that has the highest property tax rate in the country (mostly thanks to unfunded state and government programs).
I’m surprised the left’s surprised that this right wing crazy is upset. When Obama said he was going to bring back “spend as you go” and cut wasteful spending, he didn’t count on people holding him to it. I see he was right about the left giving him a pass, but there were some paying attention and those some got together in huge masses yesterday to remind him of his promises.