Obama Can't Balance Budget With Social Spending Cuts

"As a Democrat, it is almost unbelievab­le to see my party in December grant a lengthy extension of the tax cuts for the rich and just over a month later start cutting away at programs for working & poor men and women.


I know I'll get messages from Obama's most ardent admirers saying that Obama "was forced" to extend the tax cuts, but that is simply not so. He says himself that they were necessary to keep us from falling into a double dip. He had the opportunit­y to eliminate the cuts after his election -- when his influence was at its peak -- and he deferred it. He kept deferring it, against the wishes of many Democrats in Congress, until after we lost an election. Then, he simply granted the cuts.


I wish the administra­tion was as worried about the plight of working and poor families -- as they appeared in December to be about reaching out to a more conservati­ve constituen­cy. These proposed cuts will accomplish little in terms of balancing the budget, but they'll do maximum damage to those they helped."

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The 'Rule of Thumb' about when tax cuts make sense:  "When a nation's bills are paid".  When the nation is in surplus.  

You don't go on vacation when you haven't paid the rent.  You don't buy a Rolls Royce when you're living in your parents' garage.  You don't buy Godiva chocolates when there's no food in the fridge or the cupboards to feed your kids.

When a tax cut requires a nation to borrow more money, adding to the deficit, increasing the national debt, that's robbing the People to give to the rich.  Average Americans, our children, grandchild­ren, great-gran­dchildren, for generation­s to come, are getting stuck with the bill.

In 2001, Bush's tax cuts were sold to us as "job creators".  They'd "stimulate the economy".  They didn't.  

The money for Bush's tax cuts had to be borrowed, just as these tax cuts are.  From China, SaudiArabi­a (which then turns around and donates to AlQaeda, Taliban, Hamas, etc.) and IRAN (yes, Iran owns us, too).

The money is all gone.  We're now stuck with cleaning up the party that the rich had (investing overseas, in other nations, outsourcin­g Americans' jobs and closing down US manufactur­ing).  We're not even able to pay off the principal -- We're barely able to pay the 'interest only' on this 'party'-bi­ll.

It's bad enough that working Americans have been paying for the parties of the rich, but it's even worse than that:  We're not only paying for their parties, we're taking out loans so that they can stuff their mattresses.  

If I'm paying for bathtubs full of Dom Perignon, I'd better d@mned well be the one soaking in it.
Read the Article at HuffingtonPost