Skip to comments.Fiscal Cliff Deal: $1 in Spending Cuts for Every $41 in Tax Increases
Posted on 01/01/2013 12:58:59 AM PST by 2ndDivisionVet
According to the Congressional Budget Office, the last-minute fiscal cliff deal reached by congressional leaders and President Barack Obama cuts only $15 billion in spending while increasing tax revenues by $620 billiona 41:1 ratio of tax increases to spending cuts.
When Presidents Ronald Reagan and George H.W. Bush increased taxes in return for spending cutscuts that never ultimately camethey did so at ratios of 3:1 and 2:1.
In 1982, President Reagan was promised $3 in spending cuts for every $1 in tax hikes, Americans for Tax Reform says of those two incidents...
(Excerpt) Read more at breitbart.com ...
has the house agreed to it yet?
“If it isn’t time for a third party, when will it be? “
Never, as long as you have an idiot public that has been dumbed down to moron level.
Over 50 percent of the idiots think Obumbo is just swell, and they will, no doubt, welcome the new USSA.
You guys better start looking offshore for a new life.
America is not coming back from the abyss, at least not in your lifetime.
Not to worry.. This vote was only for a stop-gap measure. The final bill providing for spending cuts is probably only decades away.
The expense reductions will come two months from now, when the debt ceiling negotiations and the sequester coincide. That is now the next cliff.
If the House lets us go over that cliff, then the total cuts are $3 trillion and the additional revenue is $600 billion. That cuts the deficit by 30% over ten years, with 83% of the reduction coming from spending cuts. Along the way, of course, essential items will be added back to the Defense budget.
This is looking like a good deal. Just send us over the cliff in March!
Agreed. The parasites outnumber the hosts now, and there's no going back.
America is dead. The Democrats have won.
No such thing as cuts in spending.
“Agreed. The parasites outnumber the hosts now,”
Yes, Lancy...we are both long term FReepers, and we have seen the destruction of America over the last 15-20 years, and we see no turning back. Each day just seems to go from bad to worse in the Obamination.
Obama makes Slick Willy seem like a decent American. That just how disgusting he is.
Was talking to a group people. They were talking about the “fiscal cliff” .They said that the Congress didn’t do anything blah blah blah. They were so worried etc. I interrupted and asked ok anyone who can tell me what is the fiscal cliff I’ll give $1 to. Not a single idiot knew .the media has everyone brainwashed . it’s no cliff . it’s just a media ploy to destroy the GOP . Do the Congressmen even know what it the stupid media’s “fiscal cliff”
Socialism Is Legal Plunder - Frederic Bastiat
BIG GOVERNMENT IS CRONY SOCIALISM
I’m counting the days, Alex.
Unfortunately they can’t come soon enough.
After the character assassination of Sarah Palin, Joe the Plumber and other good Americans, the media knew they could get away with anything — including getting an incompetent boob bent on destroying the country elected as POTUS.
They are now more power-mad than ever.
A media that spent more ink and air time on Dan Quayle misspelling a word than the murders of 4 Americans in Benghazi.
“the news media works hand in hand with the dictator Obama and the democrats”
Well, of course. The Communist have taken over education and media. There are no other structures that are so vital to them.
Did you ever listen to the old Radio Moscow, or even much worse, Radio Albania, where every sentence had the term “Marxist-Leninist?
FOX seems to be the only thin line of objective journalism, and they are on thin ice.
“Im counting the days, Alex.”
Yes Rodney...the sooner the better.
I mean what the news media decrees then that is what is done. the media came up with this fiscal cliff bs and all the stupid public and all the stupid Senators vote to avoid this great cliff. does anyone know how we are going over some cliff? do any of them ? NO. Well a handful of Senators didn't , Rubio among them has sense but that is abysmal. there is no damn cliff. just don't vote for that stupid deal so what would we fall of some cliff? NO.
Music to read this thread by...
So, they basically were spending all this time digging a trench at the bottom of the fiscal cliff.
The word is “balanced”. Those mean Republicans were trying to take an axe instead of a scalpel to the budget, but fortunately for us Obama insisted on a balanced approach. /S
Capitulation... so easy, even a CAVE-man can do it.
We knew this was coming. All along.
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