$1,000,000,000,000Politics

But Mitch McConnell said this wasn’t going to happen!!!

Democratic leaders have had little time to craft a new position for their party since passing a tax deal Tuesday that will raise $620 billion in revenue over the next ten years.

The emerging consensus, however, is that the next installment of deficit reduction should reach $2 trillion and about half of it should come from higher taxes.

This sets up tax reform as one of the biggest fights of the 113th Congress, which began on Thursday.

It’s almost like they woke up this week, reflexively demanded a tax increase, realized they got $620bil… and slapped together another trillion.

Sigh.

  • Loudoun GOPer

    What a surprise! Our faithful leaders go along with a tax increase on the rich, and the Democrats say, “thank you! Now let’s raise those taxes even more!! Don’t worry, one of these days we might think about cutting spending. HA HA HA!! Just kidding!”
    Republicans = Charlie Brown
    Democrats = Lucy
    Spending cuts for tax increases = Football
    And this is why we don’t vote for tax increases, EVER!!!

  • http://www.facebook.com/michaelj.barrett.355 Michael J Barrett

    Once again, is it too hard to understand that we have a structural imbalance in regard to the budget, and the only way to fix it is to do four things; cut expenses, raise revenue, modify entitlements, and pass tax reform? All four are required, and all four will ask republicans and democrats to negotiate and compromise so we can end this absurd continutation of self inflicted fiscal wounds, fix the problem long term, create a sense of stability for markets and business, and get back on a trajectory of solid growth. One thing is perfectly clear; no one of the four above can put our fiscal house back in order. No, it takes all four in about equal measure. It is time for serious and capable leaders to act like statesman instead of small children.

    • http://www.facebook.com/profile.php?id=1427002848 James Cohen

      That is an insult to small children, Michael.