In response to:

Obama Won, Major Tax Bomb Still on the Way

wdwrkr Wrote: Nov 07, 2012 12:17 PM
".we have spent like crazy going to war" Wrong. We have spent like crazy on entitlement programs, subsidies, stimulus, and green energy boondoggles.

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....