Anytime I have a criticism aboot Dear Leader or his White House, there will always be someone to dismiss anything I say by trying to tie me to George Bush. Never mind tiny details like me voting for Not Bush in 2004, or the fact that I was critical over Bush’s spending (which I think Obama is making much worse) and the handling of the war.
Mind you, these are usually the same “open-minded” and “tolerant” liberal progressives who have been telling me for the past eight years that dissent was the highest form of patriotism, but whatever. George Bush was a bad president, so no one is allowed to criticize the current President for anything ever.
So I’m sure articles like this one will make them wild out…
Federal revenues, which will hit a 40-year low of 14.9% of GDP this year, are expected to rise to 19.6% of GDP by 2014 and then 20.2% by 2019—which the CBO concedes is “high by historical standards.” This implies some enormous tax increases.
CBO assumes that some 28 million middle-class tax filers will get hit by the alternative minimum tax, something Democrats say they won’t let happen. CBO also assumes that all the Bush tax cuts disappear—not merely those for the rich, but those for lower and middle income families as well. So either the deficit is going to be about $1.3 trillion higher than Washington thinks, or out goes Mr. Obama’s campaign promise of not taxing those who make less than $250,000.
A burst of sustained economic growth, which we’d love to see, would substantially boost tax revenues and reduce future debt. But there’s nothing in the Obama budget that nurtures or rewards growth or small business. Most of the major policy initiatives, such as the $1 trillion cap-and-trade energy tax, are a drag on growth. Mr. Obama wants to raise capital gains, dividend and income tax rates, which will reduce risk taking, innovation and investment. The House health-care bill would impose an 8% payroll tax on millions of small business owners, which will destroy jobs.
The White House issued a statement yesterday that the President is “very concerned about these out-year deficits.” But apparently not so concerned as to stop pushing for a new $1 trillion health-care entitlement that is conveniently not included in these latest budget forecasts.
But remember, this is all the fault of George W. Bush for his reckless spending and reckless borrowing.
That’s why we have to sit silent and let Barack W. Obama spend more and borrow more, more recklessly.
UPDATE DEUX: Wow, common sense in…Los Angeles?!?