On Face the Nation Sunday, Former Speaker Nancy Pelosi (D-Cal.) said that the tax increases on the rich are not enough because President Obama wants more taxes and more spending. The president originally asked for $800 billion in additional revenue by raising taxes on the rich over the next ten years. When Republicans agreed he then increased it to $1.6 trillion. The fiscal cliff deal increases taxation to $1.2 trillion over ten years if the economy remains stable, but Pelosi says the president wants more.
Obama’s deficit over the last four years has averaged over $1.4 trillion. If projected out over the next ten years as Democrats’ tax plans are, that equals $14 trillion in deficit dollars added to the National Debt. President Obama is demanding Republicans not only raise the Debt Ceiling to allow this spending, but is commanding it be eliminated entirely. Republicans say Democrats don’t have a revenue problem, but a spending problem.
Limbaugh blasts Democrats for their miserly expense on Hurricane Sandy victims.
“But another way of looking at the Sandy Relief Bill, $9.7 billion, is that it automatically takes about one-sixth of all the money that Obama raised by taxing all those millionaires and billionaires who make over $400 grand. That money was supposed to balance the budget, $60 billion. A brilliant political move now being praised by the inside-the-Beltway media, including the conservative media, is now praising Obama and praising the Republicans as losers. “
Republican Governor Chris Christie blamed Speaker Boehner and the Republicans for the tepid assistance.