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White House: Obama 'Will Not Sign' a Deal Unless It Increases Taxes
CNSNews ^

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. It’s 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 ...


TOPICS: News/Current Events; Politics/Elections
KEYWORDS: 112th; bho44; bhoeconomy; fiscalcliff
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To: Sub-Driver

We just keep looking at this from the Republican point of view. What happens to the Democrats if nothing is done? Does that mean the Democrat voters lose their income tax refund during an election year? My...my....lots of Democrat Senators running for re-election in 2014. Real Shame if the Senate went over to the Republicans. Come on Democrats!


41 posted on 11/29/2012 7:55:40 PM PST by blueunicorn6 ("A crack shot and a good dancer")
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To: Newbomb Turk

Dont think for a minute that the GOP-e wants to lessen spending. They are playing a game.


42 posted on 11/29/2012 8:30:00 PM PST by Gasshog
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To: skeeter
Pelosi said they cut enough from the budget. But it's political talk for
lowering spending increases. The spending still goes up.

It's pure madness where the Dems are trying to take our country.
They F-n hate this country, and they tell us every day through their deeds.

43 posted on 11/29/2012 8:41:35 PM PST by MaxMax
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To: Nachum

Why not just finish off the economy and have everyone in bread lines must be his hidden campaign promise, ya think?


44 posted on 11/30/2012 6:57:35 AM PST by ExTexasRedhead
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, Ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


45 posted on 11/30/2012 7:35:46 AM PST by Nachum (The List is off the Google blacklist- www.nachumlist.com)
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To: Nachum

The only issue that matters to the Democrats is the increase of the debt ceiling. The rest is just smoke and mirrors. Likewise, the only card that the Republicans hold is to vote against a debt ceiling increase. So at this point, the Republicans should give Obama everything he wants EXCEPT for raising the debt ceiling. Then the Dems’ true colors will be revealed.


46 posted on 11/30/2012 8:07:06 AM PST by Hoodat ("As for God, His way is perfect" - Psalm 18:30)
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To: Nachum
This ping was brought to you by the Department of Redundancy Department

(See: Post 28)

47 posted on 11/30/2012 8:19:51 AM PST by Hoodat ("As for God, His way is perfect" - Psalm 18:30)
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To: Hoodat

Sorry about that!


48 posted on 11/30/2012 9:07:00 AM PST by Nachum (The List is off the Google blacklist- www.nachumlist.com)
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To: ExTexasRedhead

Let’s just say he has different plans for a post-crash America than you or I would.


49 posted on 11/30/2012 9:09:18 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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