Washington – In a speech on Wednesday, President Obama called for cutting the nation’s budget deficits b $4 trillion over the next 12 years, countering Republican budget plans with what he said was a more balanced approach that relies in part on tax increases for the wealthy as well as on spending cuts.
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In a speech that serves as the administration’s opening bid for negotiations over the nation’s fiscal future, Mr. Obama conceded a need to cut spending, rein in the growth of entitlement programs and close tax loopholes, officials said shortly before he spoke.
But he also insisted that the government must maintain what he called investment in programs that are necessary to compete globally. And he made clear that, despite his compromise with Congressional leaders in December, Mr. Obama would fight Republicans to end lowered tax rates for wealthy Americans that have been in place since President George W. Bush championed them in the last decade.
What a tipish!!! STOP YOUR OUT OF CONTROL. SPENDING!!!
BTW, his idea of “rich” is anyone -familes too – making 250K and over. Sorry but 250k is far from rich!
Typical socialist thinks money I make belongs to govt. I presume the money I make belongs to ME!! Not obama!!!!
Hopefully, this time, an Obama “millionaire” will be defined as those who are truly wealthy and making above a million dollars a year and NOT apply to those of us who make only $200,000 or $250,000 a year which in New York, is hardly enough to live on with kids in yeshiva and the costs of housing and travel so high.
That is exactly what we need to do with our economy in shambles: put the screws to the productive people who create wealth, provide jobs, grow economy and benefit our country in countless other ways. And also gut the military (not mentioned in this article but big part of his proposal) because the world is getting safer by the day.
I concluded some time ago that the president is not simply misguided but is seeking to do our country harm and eventually dismantle it. I grow more and more assured in that sad conclusion with every piece of news I get.
Who is John Galt?