Tea512

Is there anything more dead on arrival than President Obama election year propaganda $3.8 trillion budget and spending plan. This should be like hitting slow pitch softballs in a Sunday afternoon mixed league for the GOP. Then up steps the male streamers to act like it is real and watch Treasury Secretary Timothy Geithner tell Congress Tuesday that the president’s new spending plan would only add new taxes on only two percent of the nation’s wealthiest families and the alternative would be to seek more painful cuts in other government programs such as defense, Social Security and Medicare. The administration hopes to send Congress next week a framework for making changes in the country’s corporate tax structure. The nominal U.S. corporate tax rate is 35 percent, the highest in the world after Japan. The reason it is dead on arrival is Congress will put off any tough decisions on the budget until after the November elections. We see the problem in this budget as there is not enough big spending cuts to control the deficits, and any tax increase at this time is a bad decision. The big problem soaring costs of Medicare and Medicaid which are already enormous are expected to double in future years as baby boomers retire.

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