Monday, November 10, 2008

Obamanomics- Revenue and Spending

Sorry that I've posted twice in the same day--actually within about half an hour of the last post--but I really felt I had to post this.

As I said in my last post, Obama's policies regarding taxes, no matter how well intentioned, are misguided. His policies will only slow the economy and decrease revenue. Let's see how Obama will do with the spare change that will be left in his pockets afterwards? Here are some respected sources regarding the spending policies of Obama and his Republican former-opponent, McCain.

National Taxpayer's Union
http://www.ntu.org/pdf/P080603Obama_SpendingAnalysis.pdf
http://www.ntu.org/pdf/P080925_McCainAgendaCostUpdate.pdf
Washington Post's Fact Checker by Michael Dobbs
http://voices.washingtonpost.com/fact-checker/2008/10/obamas_spending_cuts.html

Now tell me this...where is Obama going to get $342 Billion to pay for his new programs, plus current government costs? What school of economics does the president-elect subscribe to? How is the American economy going to cope with adding to its already massive debt? What informed voter with understanding of third-grade math would vote for Obama?

The way a real economy works: Revenue - spending = balanced budget
The way Obama's economy works:
-(federal debt + interest) - upkeep costs - current programs - $342 billion in new programs - revenue lost from tax cuts in the wrong places and tax hikes in even worse places = balanced budget

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