OBAMA-DUMB AND DUMBER...AGAIN ANNOUNCES PLAN TO CUT $1 IN SPENDING FOR $3 IN TAXES HE PROPOSES TO INCREASE...CAN WE STOP THIS MORON IN HIS TRACKS???

Obama to call for broad tax increases
Wants three dollars in taxes for each dollar of new cuts
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Obama proposed a deficit plan that calls for about three dollars in new tax increases for every dollar in additional spending cuts as he seeks to put his imprint on the ongoing talks over reducing the government's staggering debt burden.

Who voted in this financial moron? How did he get elected? Did nobody read about his lack of experience in anything other than living off the plans designed to allow minorities to be given preferences?

Again he wants to pay doctors less for Medicare patients.

In a plan his advisors described as his ideological vision, rather than a compromise offer to the GOP, Mr. Obama will also threaten to veto any plan Congress sends him that tackles entitlements but doesn't include tax increases, which he will argue is central to a "balanced" approach.

"The president will make clear he's not going to support any plan that asks everything of some Americans, nothing of others," said an administration official, who briefed reporters Sunday night in advance of a speech Mr. Obama is scheduled to give Monday. "He will veto any bill that takes one dime from the Medicare benefits seniors rely on without asking the wealthiest Americans and biggest corporations to pay their share."

Mr. Obama will argue his plan totals $4.4 trillion in deficit reduction, though $1.1 trillion of that comes from war savings all sides agree was going to happen anyway, another $1.2 trillion that has already been enacted, and more than $450 billion in tax increases he proposed last week — and has already accounted for in new spending. Another $430 billion comes from lower interest payments because of the potential lower debt.

That means in terms of actual new proposals, the president's plan totals about $1.2 trillion, of which the lion's share comes from his long-standing vow to raise taxes back to Clinton-era rates on the top income brackets. The rest is $580 billion in reductions to formula-driven entitlement programs, though officials on Sunday wouldn't detail what those cuts were, saying the specifics would be released Monday.

Those $580 billion in newly proposed cuts are dwarfed nearly three-to-one by the $1.5 trillion in additional taxes the president wants to see.

Mr. Obama's proposal is certain to be contentious on Capitol hill, where his $467 billion tax increases he proposed to fund his jobs-stimulus plan last week has already run into bipartisan opposition.

Speaking on NBC's "Meet the Press" program Sunday morning, Senate Minority Leader Mitch McConnell, Kentucky Republican, said tax increases have already proved unpopular. He pointed to failed efforts to raise taxes last year, just before Mr. Obama and Republican leaders agreed instead to extend all of the 2001 and 2003 tax cuts.

"We've got a 9.1 percent unemployment rate. Does anybody think that's a good idea other than the president?" the Kentucky Republican said. "There's bipartisan opposition to what the President is recommending already."

One area of broad agreement has emerged though: Both Mr. Obama and House Speaker John A. Boehner, Ohio Republican, support broad tax reform with a goal of lowering tax rates for both individuals and corporations.

But Mr. Obama will demand that the rate reductions be more than met by ending special tax breaks already in the code.

His advisors said his speech Monday is not meant to stake out a bipartisan plan that can pass Congress, but rather is an ideological statement about how he would like to make a dent in the government's debt, which is already once again flirting with hitting the legal limit.

A so-called 12-member super committee, formed by last month's debt deal, is working to come up with at least $1.2 trillion in proposed deficit reductions. Mr. Obama's speech is designed to give the panel some thoughts about directions to go.

What are they talking about???? These reductions will mean nothing and will still retain at least a $10 trillion growth in the national debt in the next 10 years!

Surely this will lead to the total financial destruction of our country.
BLOG COMMENTS:

way2confused
These proposed tax increases will not be used to reduce either the debt or the deficit. Obama will simply spend it.

Besides, is it only me? Does the proposed $3 trillion in cuts over 10 years only amount to $300 billion per year? Aren't our ANNUAL deficits around $1.3 trillion? If my math is correct, that means Obama still plans on spending $1 trillion more than we are taking in each and every year. In 10 years he will add another $10 trillion to our already overwhelming debt.

This is going to help us how?
Anti Socialist
Ideological view?

Socialism

any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods
Merriam-Webster
Doubling down on stupid is not my idea of a plan that will work.
We tried it his way, now its time to go back to what we know works:
FREE MARKET CAPITALISM.


Bigonza
Send Obama to GreeCe on a permanent vacation. Send Harry Reid too.

looneytoonsindville
He has a $450Billion jobs bill and he wants to raise taxes $1.5Trillion (some sources say $3Trillion)!!! After the jobs bill is paid for, he plans to use the rest of the money to pay voters to prostitute themselves and vote for him in 2012. I hope he doesn't throw any of that phoney baloney my way because I'm not eatin' it!!!

Native_New_Yorker
How about just cutting $5 trillion out of the budget and NO NEW TAXES!!!! This guy just can't quit spending. What a delusional, hubris idiot. November 2012 - Obama, Over and OUT!!!!!
Eric
Wow, can you say delusional? When we say cut the fat, it doesn't mean raise the tax!
Ford289HiPo .
To he11 with monkey-boy and his taxes. It's all about reparations. He's forcing everyone to pay for the past.

Granny Rob Robinson
Of course, the Marxist in Chief would be calling for broad tax increases -- it's in his DNA!

Jonathan
Whoooa... slow down there, Obama. There were almost specifics in the $500 billion of new stuff in this bill that almost exists. The specifics are due on Monday and the bill one month from now. Take it easy big boy. Time to go on another vacation. All that rabid slobbering over tax increases plumb tuckers out a hard working boy like you. Maybe Michelle will let you eat some fries and an ice cream.

looneytoonsindville
He needs another vacation like I need a hole in the head! He should lock himself in the White House underground bunker and stay there until February 2013. At that time, it would be a good opportunity for Punxsutawney Hussein to come out of the bunker and find out if there is going to be 4 more years of starvation and distress or if there is a new light on the horizon with real HOPE & CHANGE!!!

Mark Goff
This is so backwards and will kill this country. So... If you voted for our current president in 2008 to prove you weren’t a racist, please vote for someone else in 2012 to prove you’re not an idiot.

William Carter
What a clueless moron! A CIA-, Manchurian-candidate president could not be a more aggressive ideologue than this clown. The only thing he's NOT doing (so far) is bringing our own land under military attack before he springs his "one world solution" crap on us. He has done EVERYTHING else right on time, as advertised.

Dwayne
This Pres just doesn't get it. We don't have a revenue problem, we have a SPENDING PROBLEM. He is doubling down!