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Looks like more tax increases since there won't be a reduction in social programs. Anyone else agree?
WASHINGTON – President Barack Obama on Tuesday challenged Congress to pay for new increases in federal benefit programs as it goes rather than sink the nation deeper into a debt, calling it a matter of public responsibility. Republicans lashed back that Obama is no voice of fiscal restraint as the deficit soars.
The president's plan would require Congress to pay for new entitlement spending, such as health care, by raising taxes or coming up with budget cuts — a "pay-as-you-go" system that would have the force of law. Under the proposal, if new spending or tax reductions are not offset, there would be automatic cuts in so-called mandatory programs — although Social Security payments and some other programs would be exempt.
Not noted by the president: Tuesday's plan is a watered-down version of the so-called "PAYGO" rules proposed just last month in his own budget plan.
5 Answers
- Anonymous1 decade agoFavorite Answer
Yes. Say bye-bye to your wallet/purse!
"Tax cut for 95%"...LOL...LMFAO, all the way to the poor house along with everyone else.
Yay...Yes We Can!!!
Idiots.
- Anonymous1 decade ago
Nancy Pelosi instituted that policy in the House 2 years ago and look what it's gotten us? That policy is being given lip service only. No way can a politician NOT spend OUR money to BUY votes come election time. Not only do I not trust Obambi, I don't trust any of our elected officials. We need term limits really bad.
Source(s): When she took the gavel, Pelosi promised the most "ethical and responsible congress ever". Yeah right! Try the worst ever!!! - ToadheadLv 51 decade ago
Obama has not been hiding the fact he is planning on raising taxes.
He has just been lying about who exactly is going to have to pay those taxes.
He is banking on the American citizens being stupid and believing only the rich will pay higher taxes.
- Anonymous1 decade ago
"Looks like more tax increases since there won't be a reduction in social programs."
This has nothing to do with the clip you posted. It remains to be see what will be cut and what if any tax increases we will see.
- Anonymous1 decade ago
Shouldn't come as a surprise
