Consumers are doing the right thing by increasing savings but it will be a long slow process to get the ship back upright. Consumers are tightening their own belts and attitudes are changing. Will their voting habits change as well?
Mr. Obama and the Democrats are continuing on their merry way in the wrong direction.
taxpayers have to live on a budget,
and so city, county, state and the fed governments can too.
Obama Won’t Rule Out Middle Class Tax Hike (video of Stephanopoulos, Alexrod interview)
Most people who are not on govt help are doing just that. Like preparing for a hurricane. Also, as to this 250K figure. It must part of the dimrat party talking points. algore said once that if a taxpayer made 250k for 4 years running, that made them a millionaire. During klintoon’s folly, he could lie his ass off the the media swooned about what an outstanding liar he was. But klintoon had a few in the media that weren’t in the tank. ozero has them all in a financial pinch and they won’t dare speak out against their lord and master. The 250K figure is meaningless. Everyone with a paycheck will get hammered. Including the dimrat lemmings that blindly voted for and continue to follow their messiah.
CBO projects we will be spending 113% of GDP by 2026. That is at our current levels. As we know, when you increase cost of energy GDP goes down. That number will grow very quickly, and probably will be reached much sooner.
When the 2003 tax cuts expire at the end of 2010, the federal income tax rates go back up to the higher rates of the year 2000. Low income, middle income, and high income will all have their federal income taxes raised.
As Gomer Pyle used to say, “Surprise. Surprise”.
Actually it sounded like “Surpraaahz. Surpraaaahz”.
If cap and trade passes, with its antagonistic approach to American energy production guaranteed to radically raise energy prices and thus the price of EVERYTHING, and if obamacare passes which will raise the taxes on EVERYONE, and if the Bush tax cuts are allowed to expire and thus raising everyone's taxes, there will be no recovery.
America has had a good run since WWII, but unless obama and the demonrats are stopped, our time is over. Voters will have done what all of our enemies have failed to do.