Saturday, April 6, 2013

Obama's Latest Budget - Just More Tax & Spend

Socialist President Obama will finally get a budget out for 2013 -14, two months late; but that is nothing new.  Obama has never produced a budget on time since taking office in 2008.  Nor has the Congress ever enacted an Obama budget and they won't do so this time either.  Obama's budget proposal is once again DOA, Dead On Arrival because it is just more of the same Tax and Spend Socialist Schemes.   Even though Obama already got $1.6 Trillion in new taxes, over ten years, in the Fiscal Cliff Deal and ObamaCare, the President is calling for $600 Billion more in new taxes on the "rich", which is really small businesses.  Haven't Obamanistas killed enough jobs already. 

If Republicans were to vote for Obama's latest tax scheme, it would be political suicide.   Let us hope that the Republican leaders in Congress are in touch with their base because if they are not in touch, they will be gone with the wind in the next election.  Obama is claiming that these new higher taxes are in exchange for Entitlement Reform that slows down the growth of Social Security and other benefits by adjusting inflation formulas.   Yes, that will save a few hundred billion dollars a year, which is good; but it will not solve the problem.   It is just tinkering around the edges; yet Socialists in Congress and the unions are going crazy at the suggestion.

Look, Social Security and Medicare, both of which are already means tested and Medicaid are headed toward insolvency.   The money is not there to pay these benefits, or the local, state and federal pensions sitting out there waiting to explode on the American people like a time bomb.   There is more than $100 Trillion in unfunded liability for these Entitlements and no money to pay them.   And, taking all assets from all Americans would not cover these IOU's either.  And, the only way to deal with Medicaid is to cap the government's exposure by implementing block grants to the states. 

It is clear that we have to raise the early retirement age for those under 50 to 65, instead of 62 and the full retirement age for kids under 30 to 70, since they are likely to live to be 90 or older.   And, all Americans will need to pay more for their Medicare coverage, even those currently getting it.   The minimum payment for Part B & D of Medicare of about $150 a month is just not enough.   The "rich" are already paying about $350 for Part B & D and even that will need to go up.   Can we at least have a discussion based on reality and common sense rather than Class Warfare and stupidity.

Obama's 2013 - 14 budget proposal will never lead to a balanced budget, just more years of Trillion dollars deficits that will result in the economic collapse of the United States.  Obama has declared April, National Financial Literacy month for the American people.   What a joke.  Obama can't even balance the national check book.  Who is Obama to lecture the American people on how to balance their check books.    What a laugh.      

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