Tuesday, January 01, 2013

$41 to $1 is called a deal.......

$41 in spending increases to every $1 in budget reductions. That's the deal. That's what McConnell and Reid and ultimately Boehner and Obama have provided for the American people as a solution to the fiscal cliff crisis.

Once again, they kick the can and they do nothing substantive concerning the ever burgeoning federal deficit.  Perhaps you and I should try that level of solution for our own financial problems. I am sure there are tons of banks who will want to front us the money on a brilliant idea of fiscal responsibility like that.

Once again the democrats and Barack Obama have held a gun to the head of the American people and blackmailed them into the heresy that socialism must prevail at all costs!

According to the Congressional Budget Office, the last-minute fiscal cliff deal reached by congressional leaders and President Barack Obama cuts only $15 billion in spending while increasing tax revenues by $620 billion—a 41:1 ratio of tax increases to spending cuts.

When Presidents Ronald Reagan and George H.W. Bush increased taxes in return for spending cuts—cuts that never ultimately came—they did so at ratios of 1:3 and 1:2.
“In 1982, President Reagan was promised $3 in spending cuts for every $1 in tax hikes,” Americans for Tax Reform says of those two incidents. “The tax hikes went through, but the spending cuts did not materialize. President Reagan later said that signing onto this deal was the biggest mistake of his presidency.
"In 1990, President George H.W. Bush agreed to $2 in spending cuts for every $1 in tax hikes. The tax hikes went through, and we are still paying them today. Not a single penny of the promised spending cuts actually happened.”

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