As government spending rockets out of control, it has dawned on some people in Congress that the American people are going to have to pay for all this spending at some point. The sources for this article are yesterday's New York Post and yesterday's Washington Examiner.
All of us remember President Obama's campaign promise not to raise taxes on anyone making less than $250,000 per year (household income) or individuals making less than $200,000. Well, that promise may have had an expiration date.
According to the New York Post:
"The president is about to appoint a task force (not another one!) to study reining in the national deficit -- and, he says, "what I want to do is to be completely agnostic in terms of solutions."
Meaning, says Obama, that he "can't set the whole thing up where a whole bunch of things are off the table."
Including his once-sacred tax pledge."
According to the Washington Examiner:
"To further clarify that he was talking about across-the-productive-board tax increases, Obama added this observation: "The real problem has to do with the fact that there is just a mismatch between the amount of money coming in and the amount of money going out. And that is going to require some big, tough choices that, so far, the political system has been unable to deal with.""
The bottom line on both these quotes is the same--"Hold on to your wallet!!" The other inconvenient thought is, "Who is responsible for all the spending?" Why not control spending instead of crippling the economy and the taxpayer with higher taxes?
I just need to make a note here that anytime politicians in Washington form a committee (which they are going to do to solve the budget problem), it's because they don't actually want to take responsibility for their actions. For example, when military bases are closed, it's always done by a committee, never by a political party or political leader. As I said, hang on to your wallet!!!
Leave a comment