In an interview with C-span over the Memorial Day weekend President Obama stated the obvious America is Broke.
Steve Scully of C-Span asked the President the following: “SCULLY: You know the numbers, $1.7 trillion debt, a national deficit of $11 trillion. At what point do we run out of money?” President Obama answered “Well we are there right now.” If this is the case and it is why do we wake up everyday to new proposals for another $30 billion for a bankrupt GM, $10-11 Trillion for National Healthcare. When your broke should you not cut back on spending instead of digging yourself in deeper? Makes sense to me. And how will we pay for all this new spending? More taxes for everyone. Yes even though the President campaigned with a promise that only persons making over $250K a year would see tax increases, and the masses would see tax reductions, we are all in for huge increases in taxes. They have proposed a whole bunch of new taxes to pay for health care. 1st they want to tax food that’s bad for us starting with soda. Most all of us drink soda. I certainly do everyday though for me its been all diet for about 10 years and caffeine free for about 2. There will be a new tax on every can & bottle of soda. Then the whopper a VAT or Value Added Tax on everything that is sold. this is basically a national sales tax on top of the sales tax your state or city already imposes. they are talking around 20-25%. So if an when this passes in PA which already has a 6% sales tax a $150 I-pod will set you back $189 based on a 20% VAT. There’s change you can believe in. They also want to tax health care benefits provided by your employer for the first time ever. So there will be less in your paycheck to buy the more expensive things you still need and want. Now this will really help an ailing economy. Let’s see you’ll have less take home pay to buy things with. So you’ll be less inclined to buy things, especially since they now cost at least 20% more. So we buy less, this slows down the economy, the Government gets less tax income, more people lose their jobs because we can’t afford to buy things. Yeah that will work. But at least your get FREE health care! Wake up people nothing is free. This Free health care may be the most expensive Free thing you ever got to the point where it bankrupts our country. Think about it, and please respond and tell me what You Think. Thanks, Spiney
