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Sunday, April 15, 2012

More On The Buffet Bill

 Obama has been pushing what he touts as the be all, end all of budget fixes or at least that is what he wants us to believe. He expects us to accept this as a serious proposal and one which will solve our trillion $ plus deficits we have found ourselves saddled with since he took office. Obama was the first and only president to have a trillion dollar deficit. He was also the only president to have 2 of them and then 3 of them and now 4 of them. He scoffs at Congressman Ryans budget as being heartless but Ryan's budget is at least a serious attempt to get our yearly deficits under control. If what Mark Steyn says is true obama will have raised enough money with the buffet bill to cover the 2011 deficit by the year 2526. Yep....just 514 years and he expects us to accept this as a serious proposal.

A-hem. According to the Congressional Budget Office (the same nonpartisan bean-counters who project that on Obama’s current spending proposals the entire U.S. economy will cease to exist in 2027) Obama’s Buffett Rule will raise — stand well back — $3.2 billion per year. Or what the United States government currently borrows every 17 hours. So in 514 years it will have raised enough additional revenue to pay off the 2011 federal budget deficit. If you want to mark it on your calendar, 514 years is the year 2526.

H/T National Review

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