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January 01, 2013

What a Joke … Senate Fiscal Cliff Deal Will Add $4 Trillion to National Deficit

Posted in: Barack Obama,Budget,Budget Deficits,class warfare,Community Agitator,Fiscal Cliff,National Debt,Republican,Senate,Tax & Spend Liberals,Taxes,WTF

Another Obamaination … Wasn’t the point of passing a bill to save us from the fiscal cliff supposed to lower federal deficits and the national debt? 

As reported at The Hill, the US Senate deal to avoid the “fiscal cliff” will add roughly $4 trillion to the deficit when compared to current law, according to new numbers from the Congressional Budget Office (CBO). What a complete an utter joke. The CBO says the Senate budget agreement will lead to an overall increase in spending of about $330 billion over 10 years. How does this save us from the fiscal cliff? This is what happens when you add a tax on the so-called rich as some means of fixing the problem, when it was nothing more than a lie from Obama and Democrats. Spending cuts need to be made and changes in SS, Medicare/Medicaid and other entitlement programs..

The CBO determined Tuesday that the package, hammered out late Monday evening by Vice President Biden and Senate Minority Leader Mitch McConnell (R-Ky.) would — over the next decade — come with a $3.9 trillion price tag.

The agreement, which is pending before the House after passing in a 89-8 Senate vote early Tuesday, would extend lower tax rates on annual household income under $450,000 and postpone automatic spending cuts for two months.

The extension of lower tax rates for a bulk of the nation’s taxpayers and the addition of a permanent patch to the alternative minimum tax would add roughly $3.6 trillion to the deficit over the next decade, the CBO said. Other individual, business, and energy tax extenders would add another $76 billion.

Any Republican who votes for this needs to be primary challenged in 2014. This is all just a bad joke and you made it happen America last November by reelection Barack Obama. I hope you are proud of yourselves.

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