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Story Archives: Obama's reckless proposition
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Obama's reckless proposition
President-elect Barack Hussein Obama has proposed a $675 billion to $775 billion economic stimulus plan, which he claims will help jumpstart the U.S. economy.
Obama takes office Jan. 20. The Democratic-controlled Congress is expected to act on Obama's economic recovery plan shortly thereafter.
The Obama Deal, or our name for Obama's grand scheme to interject the government into the private sector, was first proposed by the president-elect about one month ago. At the time, we were told the Obama Deal would invest records amount of money in a vast infrastructure program, which also would include work on schools, sewer systems, mass transit, electric grids, dams and other public utilities. Furthermore, the Obama Deal vows to upgrade computers in schools, expand broadband Internet access, make government buildings more energy-efficient and improve technology at hospitals and doctors' offices.
Not one word was mentioned by Obama on how the government would pay for all of the new, domestic, discretionary spending. Moreover, Obama did not breathe a word about raising taxes on the so-called rich in America, which he blabbered about when he was simply candidate Obama. Not one word.
It gets better.
Not only has Obama proposed a massive spending spree in the spirit Franklin D. Roosevelt, the president-elect now says a tax cut would be included as part of his $675 billion-$775 billion spending plan to aid our economy. The Left is upset with their boy wonder.
Specifically, Obama says some 40 percent, or some $300 billion, of the $675 billion-$775 billion spending spree would entail tax cuts for individuals and families and the business community.
According to the Obama Deal, couples who make less than $200,000 per year would get a pitiful $1,000 tax cut. Meanwhile, businesses would be offered tax credits if they hire more workers, while other incentives would be included in the Obama Deal to supposedly help the business community create jobs in -- of all places -- the private sector.
When the Obama camp leaked word over the weekend the administration would entertain some $300 billion in tax cuts to get the country moving forward again -- economically -- we could not help but wonder -- again -- who will pick the tab to pay for them.
Enacting tax cuts for the American people, whether it's personal or business, represent forward-thinking fiscal policy as far as we are concerned.
It would be irresponsible, though, for us not to acknowledge that any tax cuts the American people receive must be met by cuts in government spending.
That's not what the Obama Deal proposes.
Instead, the Obama Deal represents a reckless disregard for prudently managing the people's assets, which reminds us of the path President George W. Bush and a Republican-controlled Congress embarked upon some eight years ago. |
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