Fiscal Cliff Deal: $1 in Spending Cuts for Every $41 in Tax Increases

  1. You have chosen to ignore posts from ComingLiberalCrackup. Show ComingLiberalCrackup's posts

    Fiscal Cliff Deal: $1 in Spending Cuts for Every $41 in Tax Increases

    This is the "balanced" approach of President Obama...and better believe the $1 in cuts are not really cuts anyway...

    CNN's New Year's Resolution seems to be to go deeper into the tank for the Democrats, cheerleading for passage of tax hikes with no spending cuts....

    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 billion—a 41:1 ratio of tax increases to spending cuts.

    When Presidents Ronald Reagan and George H.W. Bush increased taxes in return for spending cuts—cuts that never ultimately came—they did so at ratios of 1:3 and 1:2.

    “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. “The tax hikes went through, but the spending cuts did not materialize. President Reagan later said that signing onto this deal was the biggest mistake of his presidency.

    "In 1990, President George H.W. Bush agreed to $2 in spending cuts for every $1 in tax hikes. The tax hikes went through, and we are still paying them today. Not a single penny of the promised spending cuts actually happened.”



     

     
  2. You have chosen to ignore posts from Firewind. Show Firewind's posts

    Re: Fiscal Cliff Deal: $1 in Spending Cuts for Every $41 in Tax Increases

    89

    But it ain't over 'til it's over.  The House can still pull the old dodderers' and your cockles out of the fire.

     
  3. You have chosen to ignore posts from skeeter20. Show skeeter20's posts

    Re: Fiscal Cliff Deal: $1 in Spending Cuts for Every $41 in Tax Increases

    In response to ComingLiberalCrackup's comment:
    [QUOTE]

    This is the "balanced" approach of President Obama...and better believe the $1 in cuts are not really cuts anyway...

    CNN's New Year's Resolution seems to be to go deeper into the tank for the Democrats, cheerleading for passage of tax hikes with no spending cuts....

    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 billion—a 41:1 ratio of tax increases to spending cuts.

    When Presidents Ronald Reagan and George H.W. Bush increased taxes in return for spending cuts—cuts that never ultimately came—they did so at ratios of 1:3 and 1:2.

    “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. “The tax hikes went through, but the spending cuts did not materialize. President Reagan later said that signing onto this deal was the biggest mistake of his presidency.

    "In 1990, President George H.W. Bush agreed to $2 in spending cuts for every $1 in tax hikes. The tax hikes went through, and we are still paying them today. Not a single penny of the promised spending cuts actually happened.”



     

    [/QUOTE]


    Just like the debt impasse, we are sure to find out that the spending cuts are imaginary cuts in the rate of growth over ten years.  in other words, complete BS.

     

     
  4. You have chosen to ignore posts from ComingLiberalCrackup. Show ComingLiberalCrackup's posts

    Re: Fiscal Cliff Deal: $1 in Spending Cuts for Every $41 in Tax Increases

    The "fiscal cliff" deal that was designed to save money actually includes $330.3 billion in new spending over the next decade, according to the official estimate the Congressional Budget Office released Tuesday afternoon.

    CBO said the bill contains about $25.1 billion in new cuts, but those are swamped by the new spending on extended unemployment benefits for the long-term jobless and other new refundable tax credits that President Obama fought for.

    Of those cuts, only $2 billion are scheduled to take effect in 2013.

    And CBO also warned that some of the cuts Congress is counting are from programs on which CBO never expected the money to be spent anyway — such as cuts to the Consumer Operated and Oriented Plan, which was part of Mr. Obama's health care law.

    All told, the bill deepens the deficit by nearly $4 trillion over the next decade, when the new tax cuts and spending are combined.



    Read more: http://www.washingtontimes.com/blog/inside-politics/2013/jan/1/deficit-fiscal-cliff-bill-actually-spends-330-bill/#ixzz2Gkrjfhvc
    Follow us: @washtimes on Twitter
     
  5. You have chosen to ignore posts from skeeter20. Show skeeter20's posts

    Re: Fiscal Cliff Deal: $1 in Spending Cuts for Every $41 in Tax Increases

    In response to ComingLiberalCrackup's comment:
    [QUOTE]

    The "fiscal cliff" deal that was designed to save money actually includes $330.3 billion in new spending over the next decade, according to the official estimate the Congressional Budget Office released Tuesday afternoon.

    CBO said the bill contains about $25.1 billion in new cuts, but those are swamped by the new spending on extended unemployment benefits for the long-term jobless and other new refundable tax credits that President Obama fought for.

    Of those cuts, only $2 billion are scheduled to take effect in 2013.

    And CBO also warned that some of the cuts Congress is counting are from programs on which CBO never expected the money to be spent anyway — such as cuts to the Consumer Operated and Oriented Plan, which was part of Mr. Obama's health care law.

    All told, the bill deepens the deficit by nearly $4 trillion over the next decade, when the new tax cuts and spending are combined.



    Read more: http://www.washingtontimes.com/blog/inside-politics/2013/jan/1/deficit-fiscal-cliff-bill-actually-spends-330-bill/#ixzz2Gkrjfhvc
    Follow us: @washtimes on Twitter[/QUOTE]


    THIS IS THE PROBLEM!!!!

    Nothing makes sense to liberals, and the press dutifully reports the various colors of the naked emperors robes.

     
  6. You have chosen to ignore posts from ComingLiberalCrackup. Show ComingLiberalCrackup's posts

    Re: Fiscal Cliff Deal: $1 in Spending Cuts for Every $41 in Tax Increases

    In response to WhatDoYouWantNow's comment:
    [QUOTE]

    In response to ComingLiberalCrackup's comment:

    a 41:1 ratio of tax increases to spending cuts.



    I guess they should have let Obama and Boehner work out a deal last year, eh?

     

    I know I know. Everything is always 100% the Ds fault.

    [/QUOTE]

    As punishment for Republicans refusing to bow down to Obama, Democrats will increase spending even more? Punish our children and grandchildren  with massive debt, for spite?  

    Thanks for admitting the Party of Government has no limitations on its greed for confiscatory taxes and spending.  It is only the adults, the Republicans, who try to slow the runaway train.

     

     
  7. You have chosen to ignore posts from StalkingButler. Show StalkingButler's posts

    Re: Fiscal Cliff Deal: $1 in Spending Cuts for Every $41 in Tax Increases

    oh by the way, a bunch of democrat one percenters had their special tax breaks re-instated.

    http://www.breitbart.com/Big-Hollywood/2013/01/01/hollywood-loophole-fiscal-cliff

    Oh, what a friend we have in Obama.

     
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