This is the warmed-over plan that was rebuffed in Congress even when Democrats were in the majority in the firm belief that it made no sense to raise anyone’s taxes in a weak economy. Mr. Obama himself acknowledged this at the end of 2010 when he reluctantly agreed to extend all of the Bush tax-cut rates for another two years.
If Mr. Obama is re-elected to a second term and the Democrats make gains in Congress, he’s certain to push again for higher taxes. That’s what his politically divisive, class-warfare, spread-the-wealth, “fair share” campaign is really all about.
It is virtually impossible to overstate how much the U.S. economy has declined under Mr. Obama’s anti-growth, anti-job policies during the past four years. He inherited a deep hole, but he has dug us into a deeper one.
Since 2009, out-of-control deficit spending has added more than $5 trillion to an unprecedented national debt that has soared above $16 trillion.
Our feeble economy is growing at a snail’s pace of 1.7 percent a year; full-time jobs are in short supply; business investment has stalled; median incomes are down sharply; wages are flat; home prices have not recovered; and mortgage foreclosures are still at frightening levels.
More than 24 million people are unemployed or underemployed or have stopped looking for work. Gas prices are crushing family and small-business budgets. Poverty is at the highest level in 50 years.
A record number of U.S. households, affecting 50 million Americans, faced hunger last year and were forced to cut back on meals, according to a recent report from the U.S. Department of Agriculture.
Despite Mr. Obama’s Orwellian campaign slogan, we aren’t moving “forward.” We’re falling further behind and going in the wrong direction. It’s not going to change until he leaves office.
Donald Lambro is a syndicated columnist and former chief political correspondent for The Washington Times.