Skip to comments.White House: Obama 'Will Not Sign' a Deal Unless It Increases Taxes
Posted on 11/29/2012 5:19:25 PM PST by Sub-Driver
White House: Obama 'Will Not Sign' a Deal Unless It Increases Taxes By Terence P. Jeffrey November 29, 2012
(CNSNews.com) - White House Press Secretary Jay Carney said today that no matter what else happens President Barack Obama--who is the only modern president other than Franklin Roosevelt to serve in four years when federal spending topped 24 percent of GDP--will not sign a deal to avoid the so-called fiscal cliff that will arrive at the end of this year unless that deal increases taxes.
"So the President made clear that he is not wedded to every detail of his plan," said Carney. "The President has also made categorically and abundantly clear that he will not sign an extension of the Bush-era tax cuts for top earners. Its bad economic policy and we cannot afford it. He will not sign that."
According to official calculations made by the White House Office of Management and Budget that go back to 1930, Barack Obama and Franklin Roosevelt are the only two presidents who have served in four fiscal years when federal spending exceeded 24 percent of GDP. Roosevelt did so in 1942, 1943, 1944, and 1945 (when he died in office). Obama did so in 2009, 2010, 2011 and 2012.
Since 1930, according to the White House, there has been only one year when federal tax revenues went as high as 20 percent of GDP. That was 2000, when revenues were 20.6 percent of GDP.
No matter what the federal income tax rates have been, at no time since 1930 has the federal government been able to collect as much as 21 percent of GDP in taxes.
(Excerpt) Read more at cnsnews.com ...
He will destroy this country if it is the last thing he does.
How short his memory is.. He ALREADY raised taxes, and it’s called OBAMACARE. Why aren’t the Republicans shouting this from the rooftops?
Be honest - Obama won’t sign any deal that includes real budget cuts.
House of Reps - We will not pass a bill unless it eliminates the DoEd, DoE, DoT, DoHHS, EPA, and DoAg.
Every time someone asks a Republican a question about anything the Republican should start talking about election fraud or some corrupt democrat they're investigating and never, ever, even acknowledge that wasn't what they were asked about.
No problem, he won’t have to. Keep watching, the weak kneed Repubs are fixing to cave like a house of cards any second now.
The 47% plus are about to get what they want.
LOL - I knew I missed something obvious. :)
STOP SPENDING! We’re sending money to pahkistahn, egipped, and the freakin’ palistinians? We’re spending money teaching african men to wash their weeners? We need to augment an austerity budget!
He's too dumb to do anything on his own.
Because their leadership is composed of RINO idiots!
President Tax Increase!
Obama’s holding his breath and stomping his feet again.
If we were not is such an economic death spiral this might be funny to watch...
I'd be happy with a deal that increases taxes--for, and only for, Obama voters. Call it a sin tax.
Of course he won’t..Obama needs to keep on giving as much “Free stuff” as possible to his mooching freeloading base, otherwise they will abandon him
I love the comparison to FDR and that 24%. It was during a time of war which we won. Where to fund it we were also selling war bonds where at 18.50 in twenty years would yield $25.00. When self sacrifice was demanded of our citizens. Gas was rationed, as well as foodstuffs, eggs, sugar, meat, and familys were issued stamps; ration stamps limiting their consumption per family. Where we would have blackouts to save electricity dedicated to the war effort and to win it. Not because of some cock-a-mammy excuse to reduce global warming. When churches were filled and even democrats believed in and prayed to God .
Yea compare this creep to FDR.