It was only a matter of time, but I didn’t think it would take only a short six month period. The Obama Administration has announced that it looks like they will have to raise taxes on the middle class. Officials on Sunday refused to rule out hiking taxes as one of the “hard choices” needed to fix the economy over the long haul.
For those who thought that President Obama was going to be a different type of politician, I guess you’re kicking yourself in the ass now. Republicans and Democrats alike will increase spending in the federal government and to do so, they have to raise taxes to pay for it. Taxes are a necessary thing in a society that is as advanced as the United States. The problem comes into play when too much spending is going on. We don’t need to spend millions of dollars to build a dog park for just one city. How is that going to create growth? Yes it will create a couple of dozen for a few months, but what happens after the park is done? How about the $4.545,000 for wood utilization research? Since 1985 taxpayers have already spent $90 million on this research and they still don’t know how to use wood.
Yesterday, Treasury Secretary Timothy Geithner and Lawrence Summers, head of the President’s National Economic Council, was asked if the administration would keep to their word of not raising taxes on 95% of the American people, their answer was that they weren’t too sure. Tiny Tim Geithner said “We have to bring these deficits down very dramatically, that’s going to require some very hard choices. “We will not get this economy back on track, recovery will not be strong and sustained, unless we convince the American people that we are going to have the will to bring these deficits down once recovery is firmly established,” he said.
What recovery is he referring to??? The recovery is just a bunch of spending of American taxpayer’s money to satisfy the industries that backed the Obama while he was running for office. The problem is that there shouldn’t be a deficit of 1.7 trillion dollars as we currently have thanks to Obama and friends.
There is a big difference between debt and deficit. President George W. Bush put us in debt, but Obama is giving us a major deficit. The Obama Administration has spent more money than all other presidents combined and he did it in less than six months.Tags: America, American, Bush, Economy, federal government, Government, Obama, Republican, taxes