Obama Heads West on Campaign-Style Swing to Sell Plan on Tax Increases
After bankrupting the country Obama’s campaign plan seems to be how he is the best candidate to solve the debt crisis he created by taxing our economy into a depression.
By Roger Runningen and Mike Dorning at Bloomberg.com
EXCERPTS:
Both the White House and House Republicans have offered plans to reduce cumulative budget deficits by $4 trillion, over 12 years and 10 years respectively. Obama’s plan would include $1 trillion in tax increases that his advisers say could be raised from families earning at least $250,000, while the Republicans’ measure would not raise taxes.
The president’s task of promoting his deficit reduction plan gained new urgency this week after Standard & Poor’s placed a “negative” outlook on the nation’s AAA credit rating. The New York-based company cited a “material” risk that Republicans and Democrats would not be able to agree on a plan to reduce long-term deficits by 2013.
“For a Democrat, Southern California is the bonanza,” he said. “The entertainment community is very generous to Democrats.”
The state provided 20 percent — $77.8 million — of the funding for Obama’s 2008 presidential campaign, according to the Center for Responsive Politics, a Washington-based organization that examines the influence of money on the political process.
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