Obama’s Budget Busting With Tax Hikes

Tuesday, February 3rd, 2015 and is filed under Blog, Debt, Economy

Submitting his $4 trillion busting-at-the-seams budget to a Republican Congress today might have felt a little pointless to President Obama — and redundant.

As the Heritage Foundation’s economic policy analyst Curtis Dubay wrote,

This is the seventh budget he has released, and each of them had trillions of dollars of tax hikes that would needlessly increase the tax burden on American families and increase the already bloated size of the federal government.

But it’s been trending #2016budget all day on social media and analysts are coming out of the woodwork to praise or criticize depending on which policy perspective they come from.

Obama calls for higher taxes for businesses and the  wealthy to cover the cost of increased domestic and military spending and infrastructure — as well as an end to sequestration and tax credits for things like education, childcare, paid leave and more.

He seemingly continues to live in fantasy world where government provision, supposedly, costs middle class and lower class Americans nothing, but that’s far from the truth.

“We need to put politics aside, pass a budget that funds our national security priorities at home and abroad and gives middle class families the security they need to get ahead on the new economy,” he said of the budget.

Of course, Obama is the first to employ politics in nearly everything he does, including the making of this budget — and Republicans in Congress know that.

Conservative Rep. Tim Huelskamp sent this humorous tweet:

Retweet thi$! The most expen$ive book in the world. @BarackObama #budget — $29 billion per page! pic.twitter.com/0flbeRpozU

— Cong. Tim Huelskamp (@CongHuelskamp) February 2, 2015

Blatantly missing from the budget are ways to fix social security and medicare entitlements, which are drowning our country in more debt every single year.

The budget does include $561 billion in military spending, to help in the fight against Russia, ISIS and cybersecurity issues. Conservatives can get on board with that, but they aren’t going to stand for it being paid for with tax increases that will hurt the economy.

Conservatives like Rep. Mike Kelly spoke out, calling the budget a “nonstarter” and Rep. Raul Labrador called it “tone deaf.”