Endless Spending, Deficits Mean Obama's Budget Is Dead on Arrival

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It is time to cut the tax breaks for the wealthy. They aren't creating jobs and we can't afford them.

JD of KS 2:30PM February 27, 2011

1. “Now is the perfect time to cut spending ”
You bet your life it is. We’re in debt for all the money in this world. Too far to go to another world to get more money for debt.
2. “And yes, let's forget about the Bush administration's decision to add two separate trillion dollar wars to our children's bar tab.”
"Saddam Hussein has been engaged in the development of weapons of mass destruction technology which is a threat to countries in the region and he has made a mockery of the weapons inspection process."
-Rep. Nancy Pelosi (D, CA), Dec. 16, 1998
"Iraq's search for weapons of mass destruction has proven impossible to deter and we should assume that it will continue for as long as Saddam is in power."
-- Al Gore, Sept. 23, 2002
"We have known for many years that Saddam Hussein is seeking and developing weapons of mass destruction."
-- Sen. Ted Kennedy (D, MA), Sept. 27, 2002
"In the four years since the inspectors left, intelligence reports show that Saddam Hussein has worked to rebuild his chemical and biological weapons stock, his missile delivery capability, and his nuclear program. He has also given aid, comfort, and sanctuary to terrorists, including al Qaeda members ... It is clear, however, that if left unchecked, Saddam Hussein will continue to increase his capacity to wage biological and chemical warfare, and will keep trying to develop nuclear weapons."
-- Sen. Hillary Clinton (D, NY), Oct 10, 2002
http://www.davidstuff.com/political/wmdquotes.htm
3. “trillion dollar tax cut for the rich ”
Tax cuts to rich gaind revenue for government , not lowered government revenue as you say:
“The Soak-the-Rich Catch-22”
“Since 1978, the U.S. has cut the highest marginal earned-income tax rate to 35% from 50%, the highest capital gains tax rate to 15% from about 50%, and the highest dividend tax rate to 15% from 70%. President Clinton cut the highest marginal tax rate on long-term capital gains from the sale of owner-occupied homes to 0% for almost all home owners. We’ve also cut just about every other income tax rate as well.”
“During this era of ubiquitous tax cuts, income tax receipts from the top 1% of income earners rose to 3.3% of GDP in 2007 (the latest year for which we have data) from 1.5% of GDP in 1978. Income tax receipts from the bottom 95% of income earners fell to 3.2% of GDP from 5.4% of GDP over the same time period. (See the nearby chart).”
http://cliftonchadwick.wordpress.com/2010/08/03/the-soak-the-rich-catch-22/

Bill Hedges of MO 9:11AM February 16, 2011

Nov. 2012 can't get here fast enough . Boy , our kids and grandkids are really going to mad at us . What if our parents and grandparents did this to us . What a bunch of selfish , self centered , I want it now people we have in this country now , shamefull .

Hunter of WI 8:08AM February 16, 2011

Wow, you're so right. Now is the perfect time to cut spending - right as the nation is barely recovering from the worst recession since World War II.
And yes, let's forget about the Bush administration's decision to add two separate trillion dollar wars to our children's bar tab. Let's completely ignore that GOP congressmen found it more pressing to renew a trillion dollar tax cut for the rich than to pursue a balanced budget - making it necessary to raise taxes in other areas just to make the balance sheet respectable.
Isn't it funny how conservatives only crow about limited government and balanced budgets when they're out of power?

A Fed-Up Democrat of TX 8:05AM February 16, 2011