Tax increases? Immediate. Spending cuts? Sometime when hell freezes over.
= Boehner offers to let Ubama and the rats bankrupt yet another generation of Americans (this time our great-grandchildren) so that the Republicans can have the honor of being blamed for both raising taxes AND pushing granny off a cliff ("spending cuts"). That's some great work, Boehner.
"NOW, you're negotiating!"
Pay attention to what is supposed to happen in the next two years.
And raise the debt ceiling by $1 trillion per year. Sweet!
If you raise taxes to collect 12% of the deficit (which probably end up being less) and if you cut spending by 12% of the deficit (which will probably end up being less), you still end up with deficits of over $800 billion every years. Over ten years, that’s $8 trillion more on the national debt. So by 2022, you have a debt of $23 trillion. That’s $230 billion for every 1% of interest (who knows what rates will be by then?) 2% interest on the debt would be half a trillion dollars. 4% would be a $trillion in interest alone. If the economy grows at an average of 2.25% every year, it would be about $19 trillion. Interest ($1 trillion) would consume over 5% of GDP. A lot of ifs. Just saying.
Resubmit the last Clinton / Gingrich Budget and go home to celebrate Festivus.
Anyone who can’t see that this is all just the same scam just deserves to have the word “STUPID” tattooed on their forehead.
The increase in tax revenue won’t happen because those people will find a way to avoid it. Including not investing their money. Which means fewer jobs and production.
The so called cuts in spending won’t happen on the whole because congress will just introduce new spending with new bills. Or as things are now. The executive branch does not even need congress in order to spend money.
On top of that even if all of the taxes and cuts went into effect and were not circumvented then it still would not matter. Because it is such a small fraction of the deficit spending that it simply won’t make a difference.
The only ones that should be stupid enough to believe this is anything other than a scam are the liberals.
What seems to have caused you to excerpt your own blog?