Democrat Fiscal Insanity Continues

[Sinatra]

Pelosi and Co. are pushing forward with a spending bill that somehow manages to both raise taxes and increase the debt to the tune of $134 BILLION MORE!!!!

Unfriggin' believable!!!!
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Or, as Keith Hennessey suggests in his must-read deconstruction of the big-spending bill Congress will approve this week, the Call It Anything But Don’t Call It Stimulus Act. Nancy Pelosi calls it the American Jobs and Closing Tax Loopholes Act of 2010, which forms the acronym AJCTLA, and that sounds like nonsense when spoken. It’s a perfect match for its title, as Hennessey explains, because it does nothing to help American jobs and everything to allow Congress to help itself to even more fantasy money.
In fact, it manages to both increase the deficit and hike taxes, a rather neat little trick that one might think would embarrass even Democrats in 2010. The CBO confirms that AJCTLA has the following long-term consequences:

$40 B net tax increase

$174 B spending increase

$134 B deficit increase


Hot Air The Hypocrisy Act of 2010

 

[Sinatra]

And among the most disgusting aspects of this new Democrat spending bill is the following...

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Hennessey lists five reasons why this bill represents rank hypocrisy on the part of Democrats in Congress, but the first two are more than sufficient. The new bill will not pass Pay-Go rules, which Democrats celebrated as conclusive evidence of their fiscal responsibility when the passed the rule in February. That’s really nothing new; they have bypassed Pay-Go for every significant bill that Democrats have proposed ever since Barack Obama signed it into law.

The second hypocrisy comes with the “doctor fix” in AJCTLA, which both violates Pay-Go all by itself and turns ObamaCare into a deficit producer. That’s also nothing new, as many of us pointed out during the ObamaCare debate. Even without the doctor fix, ObamaCare’s revenue projections and spending plans were both based on fantasy and would have run into red ink almost immediately anyway. Democrats knew that the doctor fix would blow up those imaginary numbers from the start, though, and acted as though the doctor fix was a completely separate question.


Hot Air The Hypocrisy Act of 2010

 

[Sinatra]

Other suggested names for the act:

1. Hope and Change act of 2010

2. Rainbow and Unicorn act

3. Puppy and kitten protection act

4. Stick it to the taxpayers and their grandchildren act


Hot Air The Hypocrisy Act of 2010