The Constitution was made to guard the people against the dangers of good intentions." --American Statesman Daniel Webster (1782-1852)

Wednesday, April 20, 2011

Income Redistribution

This I stumbled across following other links. and it explains much.   

In Obama’s recent speech on reducing the debt (also see my earlier post on this subject), President Obama proposed instituting a “debt trigger,” or fail-safe mechanism, that would force the government to make substantial reductions in discretionary spending if deficits exceed 2.8 percent of GDP starting 2014 (which they are going to as a result of his budget calling on more and more spending combined with his policies which encourage lower and lower GDP). Entitlement programs would be exempt, which is important, because entitlement programs make up most of what our government spends money on and are predicted to overwhelm our entire budget in the coming decades, so by making them exempt from this ‘debt trigger’, the President conveniently votes present on the most important issues facing our nation once again.
     You can read the rest here.......http://conservativehideout.com/wordpress/2011/04/20/obama-proposes-massive-automatic-tax-increases-with-debt-failsafe-trigger/

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