What are the details?
Roman Witucki writes that President Obama has a serious plan to reduce our deficit and provide middle class families with economic certainty. What are the details?
President Obama thinks the federal government should not have a debt ceiling. That doesn’t tell me he is serious about reducing the deficit when he is trying to remove the checks and balances.
He and Congress also ignored the proposal by his appointed bipartisan debt commission to cut spending by $4 trillion and increase taxes for a balanced approach.
As of now, tax increases will take place. But the increase will be spent and no deficits will be cut.
President Obama wants more stimulus. Maybe he’ll find more “green” businesses to whom he can give loan guarantees. Will we get more of the same, Solyndra, Fisker and the like?
Some will take the funds and go overseas and others will just pay big bucks to their CEOs and then file for bankruptcy.
Forty billion was dedicated to green energy projects. Solyndra took $535 million and filed bankruptcy. One thousand jobs were lost. Fisker took about the same amount and had problems with production of an electric car. They are stalled because the producer of the batteries (A123 Systems) filed bankruptcy. Will foreign countries get to purchase A123 Systems?
Now we, the middle class, will be hit with several taxes of some sort to help pay for clients coming into the health care system with existing conditions. No wonder Mr. Obama wants taxes lowered on the middle class. Even Amy Klobuchar and Al Franken are calling “foul.”
A lot of taxes will be imposed on medical equipment suppliers and their users (Minnesota has a lot of them).
Maybe we should just fall off the cliff. At least spending, perhaps in all the wrong places, will be cut.