More from the Wall Street Journal:
President Obama demanded again yesterday that Republicans raise taxes in return for giving him the debt-limit increase he's also demanding. Nice of him to be so accommodating. He has in mind, oh, something in the neighborhood of $1 trillion. But it turns out he's a piker compared to Senate Democrats, whose budget leader has announced that his tax target is $2 trillion.Technorati tags: politics deficit government
Mr. Obama said yesterday it's time to "eat our peas," and $2 trillion is a lot of peas.
Senate Budget Chairman Kent Conrad emerged from his months at an undisclosed fiscal location yesterday to denounce Republicans, the rich, corporations, George W. Bush and anyone else he could blame for the ugly reality of a $1.4 trillion deficit 30 months into a Democratic Presidency and two years into an alleged economic recovery.
He didn't release an actual budget outline, as he is obliged to do under the law but which he hasn't done in two years. Instead he trickled out enough details to assess his rough priorities. Of the $4 trillion in alleged deficit reduction over 10 years, about half would be from tax increases, mostly on what he called "abusive tax shelters and tax havens" and families "sufficiently fortunate to be earning a million dollars a year."
1 comment:
All he was saying is Give Peas a Chance! President Warren Peas.
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