"You and I have a rendezvous with destiny. We will preserve for our children this, the last best hope of man on earth, or we will sentence them to take the first step into a thousand years of darkness. If we fail, at least let our children and our children's children say of us we justified our brief moment here. We did all that could be done."
Ronald Reagan

Thursday, April 11, 2013

Scottie Hughes - Overturning Obama's Budget

Obama's budget, two months overdue, mixes almost $600 billion in new taxes over the coming decade with modest curbs on spending, including lower-than-scheduled benefit increases for people receiving Social Security. The wealthy would lose the full benefit of some tax breaks while the poor and middle class would gradually slip into higher tax brackets.

Presidential budgets are often declared "dead on arrival" and this one may be just the latest to get that label. But it differs from last February's campaign-year missive by proposing a new, government-wide inflation adjustment - affecting Social Security, veterans' pensions and the indexing of tax brackets - that has long been offered to Republicans in hopes of winning concessions on new tax revenues.

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