The article “How Obama’s Budget Throws A Big Punch At The GOP” notes that President Obama’s fiscal year 2013 budget is laying out stark differences between the Democrats who are willing to negotiate for a better future for the US and the GOP which wants to hoard resources for rich–and maintaining the Bush 43 tax cuts for rich does just that.
The article states “First, as a matter of economic policy, Obama has sought to stabilize and grow the economy in a way that has allowed annual deficits to remain at or above $1 trillion; his challenge now is to draw these down without severely damaging key support programs and federal investments – and the only way to do that is to combine scheduled and future spending cuts with higher tax revenues.
Those revenues -$1.5 trillion over 10 years – would come largely from allowing the Bush tax cuts to expire for high income earners, limiting their itemized deductions, and from ending the tax breaks they receive on their investment dividends. “
President Obama is taking charge as the article states “It calls out Republicans nearly a dozen times for their adamant refusal to take a penny in new revenue from wealthy Americans, dooming recent administration efforts to reduce deficits or stimulate the economy with new spending.”
Is there an ulterior motive for the GOP? The article states “In his budget message, Obama alludes to the GOP’s alternative vision: to use the mushrooming national debt as an excuse (or opportunity, if you’re so inclined) to phase out some of the most popular services the government provides while reducing taxes on wealthy Americans.”
The hidden agenda for the GOP can be clearly stated. Hot heads will curse the GOP and pragmatists will try to clearly show to our public what the GOP is planning.
The article “Study: Candidates’ plans lead to huge deficits” notes huge discrepancies between what the GOP is saying about President Obama and reality.
The article states “Huge tax cuts in the budget plans of Newt Gingrich and Rick Santorum would produce the kinds of trillion-dollar-plus deficits that the GOP candidates are blaming on President Barack Obama.
That’s the finding by the nonpartisan Committee for a Responsible Federal Budget, a Washington-based budget watchdog group.
The study also says the more modest tax and spending plans of Mitt Romney wouldn’t make a dent in deficits that are on track to average $800 billion or so a year over the coming decade under current trends and policies – and could add to them considerably….
By the end of fiscal 2016, little more than a month before Election Day, Gingrich’s plan would produce a deficit of 7.8 percent of the economy, or almost $1.5 trillion. Santorum’s blueprint would produce a deficit in the $1.2 trillion range, or 6.5 percent of gross domestic product, or GDP. And Romney’s plan – given the benefit of the doubt since his new tax plan is so vague – would generate a 2016 deficit of $700 billion to $800 billion or so.
Obama’s budget claims a $649 billion deficit by 2016, relying on tax increases to do it.”
The hidden agenda for the GOP can be clearly stated. Hot heads will curse the GOP and pragmatists will try to clearly show to our public what the “Party of No” is planning.