Get Connected
  • facebook
  • twitter
Print

The administration needs to cut spending

HAVING won $700 billion in tax increases over the next 10 years in December, President Obama and Senate Democratic Leader Harry Reid said over the weekend that they want more revenue before they will cut spending.

In separate interviews on Sunday, the leaders of the Democratic Party delivered the same talking points: more money for the federal government.

"There is no doubt we need additional revenue, coupled with smart spending reductions in order to bring down our deficit," the president told CBS. "And we can do it in a gradual way so that it doesn't have a huge impact."

Reid and Obama say they want to close tax "loopholes," but they continue to expand the tax code with special tax breaks for various special interest groups.

Reid and Obama put a $12 billion-a-year tax credit for the wind industry in the fiscal cliff deal. Yet Reid went on national TV and said that instead of cutting federal spending, Congress must end tax loopholes.

"We believe we should fill those tax loopholes, get rid of them, I should say," Reid told George Stepha-nopoulos of ABC-TV. "And that's where we need to go."

Reid said he had "cut" non-defense spending by $2.6 trillion. That is dishonest. All Reid did was promise to slow the spending increases over the next 10 years.

A few facts are in order:

 

  • Federal revenues are expected to hit a record $2.9 trillion this year.
  •  

     

  • The federal government will spend $3.8 trillion, and it will borrow $900 billion of that.
  •  

     

  • The federal government has "borrowed" $6 trillion in four years. The national debt now tops $16 trillion.
  •  

    "The American people are on our side," Reid said on ABC's "This Week" on Sunday. "The American people don't believe in these austere things."

    The contention that the American people don't believe the federal government should show the same discipline they do is simply outrageous.

    The American people have been through a recession that cost them trillions. They have trimmed spending.

    It's time Democrats showed the same discipline Americans have.


    Print

    User Comments