Friday, March 1, 2013

Obama's Sequester Math: $1 Trillion In New Taxes Called 'Spending Cuts'

Obama's Sequester Math: $300 Billion In New Revenues Called 'Spending Cuts' - Investors.com:

… "Viewed correctly, it turns out that more than $300 billion — about a third — of Obama's proposed 'spending cuts' are actually revenue increases.

As a result, instead of $1.2 trillion in spending cuts called for by the sequester over the next decade, Obama would add more than $1 trillion in revenues, while cutting outlays only about $600 billion. And much of those aren't real cuts, but tiny reductions in projected spending growth over the next decade.

And in the end, his plan, such as it is, will do nothing to forestall the nation's oncoming debt crisis.

After four years, Obama's unseriousness as a president continues to surprise us."

Obama's problem is really simple. He's knows how to campaign, he doesn't know how to govern. But he campaigns really good, look how many people he convinced to vote for him.

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