When President Obama was talking taxes instead of the Super Bowl that should have been the first clue that he really is warning Americans that more taxation is coming, just as a Forbes.com article predicts will happen especially when Congress insists the spending cuts go into affect this year after all.
The trillions-dollar deficit isn’t going to go away by itself, of course. And so, on the eve of the Super Bowl, the president was out campaigning that the government needs more money in order to get out of debt. What he should have said is that the government, despite getting the green light to tax America’s wealthiest a little more is still not going to have enough income from that revenue to keep him from having to make those spending cuts our trillions-dollar deficit requires.
And that’s the real issue: President Obama hates not being able to pull out the American credit card and saying “charge it,” someone can pick up the tab later. The Congressional Budget Office is even saying a greater deficit is coming if America doesn’t reign in its spending or cut spending that is excessive.
The only way to get more money, therefore, to keep operating the government at the high spending rate currently being followed is to raise taxes; everyone’s to be exact. Forcing America’s wealthiest citizens to pay more isn’t going to generate enough revenue to touch that astronomical debt building up in this country thanks to rabid spenders in Congress. And the money from the wealthiest one percent will not be enough to keep allowing the grandiose spending plans of this administration either.
There isn’t an American budget around that can keep spending money they don’t have indefinitely. Sooner or later America’s wallet has to be filled to maintain its spending frequency or it has to be taken away and locked up from the shopaholic in the White House.
It’s understandable that Pres. Obama wants to keep funding the programs and plans he has mapped out for his second term. And the last thing he wants is to spend his last few years in office with his purse strings tied. Yet a prudent president would not make Congress have to tie them for him. And he wouldn’t be stating that more tax revenue is needed when folks are barely able to pay the tax man as it is.
Photo by Pete Souza/White House