Wednesday, August 12, 2009

Obama's Next Awful Proposal

Because ObamaCare has been sucking up the oxygen lately, not to mention Cap-n-Tax, his next horrendous move is almost un-noticed.

But not entirely un-noticed--thanks to Americans for Tax Reform.

President Obama’s $3.69 trillion FY 2010 budget, the misnomered [read "Orwellian-monickered"] “A New Era of Responsibility,” confirmed critics’ fears. According to a report by the Congressional Budget Office (CBO), it would have increased total spending by $2.7 trillion over ten years over the current baseline, including interest. This would amount to an increase of $9,000 for every American. Furthermore, federal spending under the President’s budget would increase from 23.6 percent of GDP in 2011 to 24.5 percent in 2019, significantly above the past 40 year average of 20.7 percent. In 2009 alone it would total 28.5 percent of GDP and reach 25.5 percent in 2010.

That budget, ALL BY ITSELF, will cost you twenty days of labor.

ATR does not believe that deficits have a negative economic impact; only taxes and regulations do. But deficits DO have to be paid for, one way or the other, and the typical method is to raise taxes.

(You might have heard some talk about raising taxes.)

Our Governor, James Doyle, has seen to it that economic activity in Wisconsin will be squelched. That's because James Doyle has engineered a number of tax increases (and he lied like Hell about them).

How bad is it?

Wisconsin is now among the 12 worst States in the Union, measured by "cost of Government," and next calendar year will be worse. We rank 37th.


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