Sallow
The Big Bad Wolf.
I don't know, you tell me. The idea was obviously not considered by the President. Think Stimulus Plan and Health Care Reform as two examples.
And besides, "no new" doesn't prevent widespread spending increases on "old programs".
Although increasing revenue would help the situation, it won't help in this case because Congress is not fiscally responsible and will continue to do as they have been doing and that is to spend more than every dime they receive.
I for one am not opposed to increasing tax rates. But, if you are going to increase tax rates by 5% and follow that up with an increase in spending of 7%, you have only made the problem worse. Go ahead and raise taxes. But, damn it, Congress has to figure out that when they do that it does not mean they can just increase spending as well. There in lies the problem.
Immie
That's completely and utterly incorrect. President Obama tried to introduce Paygo into one of the spending bills. It was rejected by Republicans. And it was Republicans that got rid of it in the first place.
And that excuses the fact that he has outspent every President before him?
Outspent how?
With TARP? With the GM bailout?
Those are two iniatives left by the Bush administration.
Conservatives ROYALLY fucked things up. And continue to do so.
It is their mission statement to bankrupt the government and create a Plutocracy in this country.
Tax cuts have never done anything to help unemployment. In fact..everytime tax get cut, the economy gets worse.