Lets cut the spending, then raise taxes!
POSTED: Wednesday, December 12, 2012 - 6:58pm
UPDATED: Wednesday, December 19, 2012 - 3:55pm
Tyler, Tx — From the knock me over with a feather department, news from the Weekly Spectator this week.
According to the minority side of the Senate Budget Committee, $1.2 trillion of the proposed president Obama $1.6 trillion in tax hikes would go toward new spending.
While only $400 billion would go toward deficit reduction.
"The president's plan called for $1.6 trillion in new taxes, twice what the president asked for in the campaign. He asked for $800 billion during the campaign. Now he wants $1.6 trillion in new taxes," said Senator Jeff Sessions, the ranking member on the Senate Budget Committee, last week on the floor.
Sessions says "Our spending is growing. It is not decreasing. It is already projected to grow, but the President's proposal is to have it grow even faster than the law currently calls for."
The president and Republicans need to hammer out a deal. But all the media focuses on is there is no significant tax increases on the rich. That's all most people hear if they even pay attention to current events at all. The mainstream media stopped covering both sides years ago.
I heard one national reporter actually say yesterday-- and she was astonished -- "President Obama may not be even thinking of cutting entitlements."
Meanwhile, the money printing machines continue like there is no tomorrow.
That's my point of view, what's yours?