In response to:

Obama Won, Major Tax Bomb Still on the Way

Kibitzer Wrote: Nov 07, 2012 3:15 PM
The Democrats controlled both houses of Congress during the last two and worst years of the Bush Presidency, and the first two years of the Obama Presidency, but of course that couldn't have had anything to do with the recession.

President Barack Obama won re-election Tuesday which means the United States is in the same exact fiscal situation it was in on Monday. We’re staring at $16 trillion in debt, but the more immediate problem comes on January 1 when every family will see a tax increase of $3500 as the Obama-Bush tax cuts expire and when more ObamaCare taxes kick in, better known as taxmaggedon.

First, let’s start with the first tax increase of $3500. This will happen if House Republicans, Senate Democrats and the White House can’t come up with a deal in the next 63 days....