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  • Stop Job-Killing Obama Tax Hikes and Cut Government Spending, Now

    It’s hard to understand why President Obama took to the airwaves tonight at prime time. He still has no plan for dealing with government overspending and overborrowing, and he  gave the nation very little except a repetition of his never-ending call for tax hikes.

    In noting the risk of ever-increasing debt, President Obama said every family knows that “a little credit card debt is manageable.” The government has racked up $14.294 trillion in debt — thought of by no-one as a little credit card debt.  The spend-tax-and-borrow crowd, currently headed by President Obama, has been in charge in Washington too long.  They have mortgaged the futures of our children and grandchildren.  Our government is so deep in debt that the share of debt of a baby born today is $45,000.

    It is time for the spend-tax-and-borrow crowd to stop.  As the President indicated, conservatives want deep spending cuts.  In contrast, President Obama wants more taxes, a terrible idea.  First, the government already takes too much money from the pockets of Americans in taxes.  Second, if Americans give the government more money in taxes, the government will just find ways to spend it, rather than using it to pay off the public debt.  Third,  raising taxes reduces investment, which cuts economic growth and kills jobs.

    Americans sent a message in the election of 2010 — cut the size and cost of government.  Conservatives must act now to drive down spending on the way to a balanced budget, while protecting America, and without raising taxes.  Forget the McConnell, McConnell-Reid, Coburn, Gang-of-Six, Boehner, and Reid plans.  Go with the American plan — cut government spending, deeply and right now, for the good of the country.

    Posted in Economics [slideshow_deploy]

    44 Responses to Stop Job-Killing Obama Tax Hikes and Cut Government Spending, Now

    1. Glen says:

      The size of the Federal Gov't is beyond belief. The amount of spending is out of control. Doesn't the Gov't realize that people have to be working to pay taxes? I have one question. What has the Obama administration done for the good of America

      • AVullo says:

        NOTHING!!!

      • Rebecca Allen says:

        Be aware that Obama inherited 12 trillion in debt, with increased spending on wars and decreased revenue due to the Bush tax cuts. I don't know about you, but I received nothing in terms of tax relief in the Bush tax cuts of 2001 and 2003. Nothing! No change in the old paycheck. Obama's tax cut in 2009 increased my check by $34.00. That may not be much to some, but I appreciate the increase and I will always vote my pocketbook. And I will vote based on the economic class I am in, not the class I aspire to, that would not be in my self interest.

    2. Elliott says:

      "First, the government already takes too much money from the pockets of Americans in taxes."

      Taxes as a % of GDP is the lowest it's been in modern history.

      • George Colgrove, VA says:

        Mind you GDP also includes government spending – look it up in Wikipedia. If government spending is $3.83 trillion and the current GDP is $14.7 trillion, then the % of GDP of government spending is 26%. So here is the issue I have with this. We are saying that government spends $3.83 trillion and that government spending as a portion of that can be 26% of that amount – or – $1 trillion! So if you want to increase the GDP to justify more spending then you increase spending and so on. It is a spiral. Once you take out federal spending from the GDP, you are left with a Productive GDP of $10.87 trillion. I suspect if you look at this value over the last 10 years, you will find that it has gone down considerably. Government spending is 35% of the productive GDP!

      • Tom says:

        That's because there is less of a tax base with so many out of work.

      • John says:

        As a result of the recession …… as we come out of the recession look where the projections go (19.5%). Stop the BS!!

      • glevum says:

        Yes we know that – regardless of party in power! What will ordinary Americans do about it?

    3. Roy says:

      The president is doing great harm to our nation. Certainly his actions fall under high crimes and misdeameaners. He was not qualified to run the first time, not qualified to run a second time. Impeach.

    4. "It is time for the spend-tax-and-borrow crowd to stop."

      Me; Are there any new slogans we can use?

    5. socially_cal says:

      The job of the President to to ensure that partisan politics does not surface on a national address. This is abuse of his privilege. Furthermore, he is using scaremongering tactics on the people. Shallow.

    6. Grandma says:

      Seniors have already had tax cuts the past two years – Obama saw to it that we had no social security raises during 2010 and 2011. Is it still the same for 2012? Cut taxes and government spending. Live within your means like we seniors on fixed incomes are forced to do.

    7. A Nobody says:

      I am rich. I got tax breaks. Guess where I invested my money? Emerging markets. Higher growth rates. Why would I invest my tax breaks to create new jobs in the US with stagnant growth rates of 2-3% when I can get 8-10% in emerging markets?

      • Global Player says:

        Agree, Nobody! I'm not rich, but if I had enough money to jingle in my pocket, I'd invest outside the US as well!

      • hsabin says:

        But according to Obama, he wants you to put skin in the game don't you know! He is probably invested outside the US himself. Nancy Pelosi invested 250,000 with TBoone Pickens in his failed wind farm idea and I hope she lost it all! How about going out to ask all you know to ask all they know to vote for anyone but Obama in 2012?

    8. independent ric says:

      Obama is for Obama not the country that is his priority. Empty promise to Latino will continue till he is voted out of office.

    9. Steve says:

      David, its not about not raising taxes not matter what, it's about responsible government meeting its obligations. You take to the web with your mantra that Obama is the root cause of the current jobless problem, when in fact it is not backed up by any fact. Our current fiscal problems are due to many years of (going back at least to 2000) of cutting taxes and not cutting government services. Furthermore, the current level of globalization growth in which labor is being purchased at the lowest rate from China, India, and other third world countries, plays a huge role in the jobless problem. Your vision of the US is to lower the living standard of the American worker to that of the Chinese minimum salaried laborer, so that the wealthy of this country and reap even higher profits (we're talking 100's of millions of dollars if not Billions a year).

      Continuing this "We must not raise any taxes no matter what" really translates into, "Let's stop collecting taxes" which in turn would mean, lets just shut down the government. As silly as it sounds, your blog implies this anarchistic outcome.

      • kac says:

        I TOTALLY agree!!! Finally somebody with brains!!

      • Bobbie says:

        can you guys please explain why the immediate delete? Are there some rules we're suppose to be following? I didn't get the memo?

        • @Bobbie (and everyone else) — We recognize that some people are suddenly having problems commenting and we are looking into this problem right now. I apologize for the headaches, but we hope to have a solution quickly. As always, thanks for reading and contributing to the discussion.

        • Brandon Stewart Brandon Stewart says:

          @Bobbie (and everyone else) We’re looking into why so many people are suddenly having problems commenting and are working to find a solution very soon. Thanks for your patience — we value your opinions!

        • @Bobbie (and everyone else) — We recognize that some people are suddenly having problems commenting and we are looking into this problem right now. I apologize for the headaches, but we hope to have a solution quickly. As always, thanks for reading and contributing to the discussion.

      • Brubaker says:

        “We MUST raise any taxes no matter what” really translates into, “let’s stop collecting taxes.”

        What world do you inhabit? Opposition to raising taxes does not in any way equate to opposition to collecting existing taxes. Those are two entirely separate issues.

    10. auntiecoosa says:

      Obama wants to be the Mugabe of the Western Hemisphere. He can't see beyond the Neo-Marxist strategies of Antonio Gramsci, an Italian Communist, so lovingly taught to him by his Momma, Stanley Ann Dunham, and his grandparents and mentor.

    11. hughbaby says:

      President Obama has no plan because he is not capable of creating a plan. The people that he has surrounded himself with must not be capable either. Most of his experience deals with being critical of the system created by others. This type person knows nothing else. Until he leaves office, we must find a way to work around him. I believe that his own party leaders have realized this finally. If that is in fact true it is the best thing that I have seen happen in awhile.

    12. curlyfrye says:

      I agree with many of the opinions posted here.

    13. surfcitysocal says:

      Amen!

    14. PoppaBear says:

      Answer: Balanced Budget, Term Limits, return to the gold standard (the Fed and the float will kill this country) get rid of special interest groups….. limit congress to 2 terms just like we do with the President. Make it law that you have to have a balanced budget except in time of declared war. Back when we had the gold standard they could not just print money, it had to be backed up with gold. Run all the special interest groups out of Washington, they get in the way of everything…..

    15. jmvhvi says:

      As long a politicians of each party are unwilling to reduce the power of the government (through spending cuts), we will stand on the edge of ruin.

    16. stephanie villasenor says:

      I wish I could have the luxury to only look 6 months in front of my nose. Facts are: Republican presidents have asked for more debt ceiling increases in the last 30 years than democrats. Fact is, R's have presided over the biggest deficits. Fact is R policy lead the country into this country-wide depression. NOW, the R's want to blame the President who is trying to get us out of hell's hole.

      We see through you. How would George W. get us out of this mess? He passed the buck, that's how. None of you R's wanted the job because it is a thankless job. That is why you picked Sarah Palin as a losing VP candidate. You didn't want the job of cleaning up your mess. You R's are shamless.

      • 1 up says:

        the fact is the whole government is run by democratic leaders who know nothing, spending $500 for a damn hammer and you think they are all that. the democratic leaders are what sent us into this with all their spending. when bush was president he had no choice but to do what they said.

    17. ESR says:

      We still have to pay our bills, no matter what. The GOP shouldn't hold the good reputation of the US treasury hostage just to get the spending cuts without taxes that only about 18% of Americans claim to want.

      It is simply childish to use the debt ceiling as a hostage. Imagine if you tried this in your own life:

      I want my credit card company to lower its interest rates, so to protest I'm going to default on my payments. That'll show 'em. Yeah, right.

    18. Indy says:

      Can anyone at Heritage tell us if the stimulus spending has been pulled out of the baseline? If we have spent at the following rate:

      2008 $2.9 Trillion
      2009 $3.1 Trillion
      2010 $3.5 Trillion
      2011 $3.8 Trillion

      and the current plan in the House "cuts" (eyes rolling as I type) spending by $22 Billion in 2012, we will still spend $3.8 Trillion in 2012 so that would seem to me, the stimulus spending is in the baseline? Why isn't anyone talking about the Back in Black Plan by Senator Coburn? I realize it wouldn't pass but there have to be items in there, the GOP could leverage to make cuts in the next two years such as getting rid of duplicate programs and consolidating / eliminating agencies.

      Or, if nothing else, propose an across the board spending cut for each department and let each department firgure out where to cut spending, I'd like to see 10% across the board but would settle for 5%. In the private sector, we cannot shift cuts out ten years, we must focus on the present…the Feds should do the same.

    19. Roberge says:

      Is this a conservative message board. I have heard nothing but negative narrow minded opinions on this blog. No one person thinks raising taxes is a good idea. Most of you tories on here are making it sound like Obama is going to raise taxes on every american. NOT THE CASE. If anyone has listened to the proposal, it is to have limited modest incentives redistributed and partially phased over time to those who earn 250k a year and higher to a rate that won't even be noticeable over a 4-10 year period.

      I am also finding that most people have forgotten that Bush made a bunch of tax cuts that people loved. When you cut taxes you decrease revenues. For simple folk this means that the gov't is bringing in less money!!!! If you don't have spending cuts to match the tax cuts, then more debt is created. The debt in America went from 5 trillion to more than 11 trillion under the watch of GW who was suppose to be in for smaller more efficient and less expensive gov't. Here's my personal favorite, spending 300000000 dollars a DAY on a freakin war. That is 1 billion dollars a week!!!!!!! Now a portion of that was already invested because the military obviously must get payed, but in a hot war, the cost more that tripples.

      Let's have a little history lesson, why did people start losing their properties? The answer has many components. Extremely liberal lending practices, (ie no credit check) people who shouldn't have had mortgages were approved. Teaser rates which would skyrocket and end of first term, being able to write off mortgage interest, borrowing from gov't for down payment, faltering economy, creation of a housing bubble.

      When sub-prime borrowers were given mortgages with long 25-30 year terms, coupled with a teaser rate in the introductory term, and then doubling and some cases tripling in the new term, People's mortgage payment's tripled and it's no freakin wonder there is so many forclosures and vacancies across the country with people losing their homes left, right and centre.

      So in turn, there was a Republican President who was watching this happen and a government that was saying let the market take us where it will go. Well, with such a brain storm of wisdom, we have ended up like this. And this doesn't even include what the banks, and other lending institutions did with these mortgages. That made the problem 10x worse. Now the whole world owns these bad mortgages!!!!!

      This is now not a time for blame. There is a divided gov't and a compromise solution. Cut spending and increase revenues. They can only sell so many bonds. President Obama has inherited the biggest mess since the 1930's. It is time to step up and get er dun!!!

    20. Pingback: Addington’s Useful Idiots | emptywheel

    21. Nan says:

      How can any Congressperson, in good conscience, approve borrowing money to give away to foreign countries, give freebies to illegals, spending borrowed money on a war, to help people who hate us and will never change, while cutting seniors benefits, and ignoring the needs for roads, parks, ect. for America? Nan

    22. mary says:

      i would like to know why the government gives social security to people that never even worked thats wasting money there an people that worked an husbands worked an payed into ssi have to fight when they need it an cant work anymore to get what is rightfully ours also cut down spending on the military also they give unemployment to people that have worked very much either several weeks that havent been earned or payed iinto

    23. Common2Cents says:

      If Local, County, State and Federal governments do not cut expenses NOW, we will expire as a world economic force. How many taxpayers does it take to support the kind of economy that hires police officers for 20 years and pays them for 60 years. The public service workers who get full retirement after only 20 or 25 years with medical benefits attached are just too much of a drain on the rest of the economy. When will the politicians evere get the picture? It's not working now and it's only getting worse. Pull the plug on government wasteful spending. Bring common sense back. We're sliding down an increasingly slippery slope. But you know we can all toot our horns, but WHO is going to do SOMETHING?

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