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 ...
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!
Dont think for a minute that the GOP-e wants to lessen spending. They are playing a game.
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.
Why not just finish off the economy and have everyone in bread lines must be his hidden campaign promise, ya think?
The list, Ping
Let me know if you would like to be on or off the ping list
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.
(See: Post 28)
Sorry about that!
Let’s just say he has different plans for a post-crash America than you or I would.
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