The president’s howler of a spending plan was slammed — not by the rabid, right-wing conservative press, which is presumably out to get our charmer-in-chief no matter what he does — but by the British Daily Mail. Here’s the bullet points:
White House promises $1.8 trillion in deficit reduction, although similar previous claims have been debunked
New method of measuring cost-of-living increases will lower benefit payouts and push middle-class earners into higher tax brackets
Speaker Boehner’s spokesperson: ‘Any deficit reduction will come exclusively from tax hikes’
Administration’s formula depends on cost savings from Obamacare, which may be more costly to implement than previously thought
In a lengthy piece, the foreign publication explains that while the White House is claiming $4.3 trillion in budget cuts over the decade, trillions of those cuts don’t appear to be real. For example, the White House has already claimed $2.5 trillion in spending cuts the last two years, but because of the way some of those cuts were imagined, only $1.4 trillion over the decade was actually cut. The kicker? That number doesn’t actually cut overall government spending, it just slows the rate of spending increases.
http://www.ijreview.com/2013/04/460...maginary-spending-cuts-middle-class-tax-hike/
White House promises $1.8 trillion in deficit reduction, although similar previous claims have been debunked
New method of measuring cost-of-living increases will lower benefit payouts and push middle-class earners into higher tax brackets
Speaker Boehner’s spokesperson: ‘Any deficit reduction will come exclusively from tax hikes’
Administration’s formula depends on cost savings from Obamacare, which may be more costly to implement than previously thought
In a lengthy piece, the foreign publication explains that while the White House is claiming $4.3 trillion in budget cuts over the decade, trillions of those cuts don’t appear to be real. For example, the White House has already claimed $2.5 trillion in spending cuts the last two years, but because of the way some of those cuts were imagined, only $1.4 trillion over the decade was actually cut. The kicker? That number doesn’t actually cut overall government spending, it just slows the rate of spending increases.
http://www.ijreview.com/2013/04/460...maginary-spending-cuts-middle-class-tax-hike/
*Shakeshead*