Friday morning finance report and it is reported the federal government would deliver a package of $6.4 billion in tax cuts, $400 million in funding for infrastructure, and about $9 billion in new spending that will boost investments in public education, health care, infrastructure and other social programs.
But to the dismay of conservative opposition, the package is estimated to add only $150 million to the deficit in the first six months of fiscal 2014, meaning that the GOP would still lose out, and the Democrats would come out on top.
A $5 trillion deficit that year means $500 million for Democrats.
Obama’s biggest promise to the left on the campaign trail was to balance the budget in two years. On Friday, he더킹카지노 got another $4.8 trillion in tax cuts for households earning $400,000 or more — as though that would somehow make it more difficult for a wealthy majority to keep spending from ballooning.
It does nothing to address the problem with the $1 trillion he says he would like to pay for, which still totals more than예스카지노 40 percent of government spending and will grow by $300 billion annually.
The $4.8 trillion package has been repeatedly estimated to add only about $500 billion in revenue to the fiscal year 2013 budget without raising taxes on the wealthy. But House Republicans are already trying to reduce it b바카라사이트y $1 trillion, the equivalent of about $600 million in savings.
And if tax reform is somehow lowered to make it appear to actually increase the deficit, Republicans might use some of those savings to eliminate some of President Obama’s entitlement programs, and to lower corporate tax rates that currently average 35 percent.
That’s just the latest in a series of proposals that are going to further increase the national debt.
As more and more of it is being pumped into the national infrastructure, it could only get worse.