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Tipsheet

Obama's Tax Hikes are Not the Solution

When President Obama was sworn into office more than two years ago, he took out an unlimited credit card in the name of the American taxpayer and immediately proceeded to charge a trillion-dollar stimulus that failed to hold unemployment below 8 percent, as the White House promised.
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In February, President Obama proposed a budget with $8.7 trillion in new spending, despite the fact our nation is already more than $14 trillion in debt and increasing daily. Instead of fulfilling a promise made while vying for the White House to cut the U.S. deficit in half in his first term, he presented a budget that kept the U.S. on the same, unsustainable fiscal road.

Last week, House Republicans introduced a real budget proposal that reduces deficits by more than $4 trillion over the next decade. It introduces real reforms to get our fiscal house in order and actually pay off the debt before our children and grandchildren are stuck with our spending bill.

But yesterday, President Obama offered empty, political rhetoric to the American people. Suddenly he’s feigning outrage against the current debt levels and the out-of-control spending. He thinks taxing those making over $250,000 will solve our budget woes and create jobs. It won’t. The President is just singing the second verse of his same old song.

If President Obama was serious about saving the taxpayer money, he would have started asking for cuts two years ago.

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