Friday, March 06, 2009

Obama: $1 trillion Tax Increase in the Midst of Recession

GOP's Ryan: 'Gusher of Spending' Worsens Recession

Thursday, March 5, 2009 1:42 PM

By: Jim Meyers Article Font Size

Rep. Paul Ryan, the highest ranking Republican on the House Budget Committee, tells Newsmax it’s “just incredible” that President Barack Obama and the Democrats are seeking to raise taxes by more than $1 trillion in the midst of a recession.

The Wisconsin legislator also said the so-called stimulus bill is really an attempt to pander to special interest groups that support the Democrats.

Newsmax’s Ashley Martella asked Rep. Ryan for his thoughts on the huge budget proposed by the Obama administration.

“It’s the biggest government budget I have ever seen. I could just leave it at that, but let me give you a few points,” Ryan said.

[Editor's Note: Watch Paul Ryan discuss Obama’s dangerous economic strategy - Go Here Now]

“This budget in its first year proposes to take the size of our government to the largest it’s been since 1945. It doubles our national debt within eight years. In fact, for all the criticism of the Bush administration and their increase in the debt, this budget surpasses eight years of debt increases in the Bush administration within two years of the Obama administration.

“And during a recession they’re trying to impose a $1.4 trillion tax increase on the economy, on work, on income, on saving, on investing, on energy, on manufacturing. It strikes me as just incredible that in the middle of a recession, of all times, they would bring a budget that seeks to impose a gusher of new spending and all of these new taxes.

“And even with the high tax increase they’re talking about, they will never get to a balanced budget. They don’t even propose to try to get to a balanced budget. In fact, under this budget they’re proposing, our deficits are the highest that they’ve ever been.”

Martella asked Rep. Ryan if the stimulus package is going to work.

“I don’t think so, and that’s one of the reasons I voted against it,” Ryan responded.

“The whole notion that you can borrow and spend your way to prosperity has been refuted by economic evidence. It didn’t work when we tried the same policies in the ‘30s. It didn’t work when the Japanese tried the same policies in the ‘90s.

“It balloons our borrowing. It makes our borrowing costs go up. It puts bad pressure on the Federal Reserve.

“But even if you are committed to this economic doctrine of borrowing and spending to get the economy moving, most of the spending doesn’t occur for a couple of more years, and so it doesn’t even occur during the time when they say the spending should occur to get this economy going again.

“It’s more of a plan to put in place a very large government and it’s a down payment on this big budget they put in place…

“I think what they ended up doing was putting in the stimulus bill the things they’ve always wanted to do, to set aside the pent-up demand from their special interest spending lobby groups and then call it stimulus.”

Martella noted that Ryan is one of the leaders of an effort to institute a line item veto that would force legislators to vote on individual appropriations.

“The president ought to be able to take the pork out of these bills he signs and send it back to Congress and force Congress to take a clean up or down vote on these ridiculous spending items,” Ryan explained.

“Just last Wednesday the House passed a bloated spending bill with 9,000 earmarks in it — $250,000 to renovate the old DuPont family tugboat, a couple of hundred thousand dollars for advertising expenses for two convenience store owners in Louisville, Kentucky, money for swine odor research. On and on and on the list goes.

“What happens is the president has to sign this huge [budget] bill or veto the huge bill. Let’s give the president the ability to embarrass some of this pork out of the budget send it back and make us vote on it individually.”

If tax and spend plans don’t rejuvenate the economy, Martella asked, are Republicans prepared to make an issue of it in 2010?

“Absolutely,” Ryan declared. “We’re making an issue of it right now by saying we don’t think this is the right direction.”

[Editor's Note: Watch Paul Ryan discuss Obama’s dangerous economic strategy - Go Here Now]

© 2009 Newsmax. All rights reserved.


At 8:32 PM, Anonymous Anonymous said...

With all the damage Dupont and her subsidaries have done to tens of thousands of people, I question how they can even be in consideration for this emergency Ommnibus stimulus bill, costing taxpayers $250,000 to refurbish the DuPont family tugboat?
Look at the Vitek-TMJ Implant Disaster. Federal documents are STILL sealed regarding the specifics of the Vitek and the silastic sheeting elastomer.
Teflon has been known to be dangerous for over 20 years. Silicone for over 50 years. Look at the birth defects caused by teflon and its residual effects. What damage has the chemical spills caused to this generation and most importantly, future generations? Silicone has an eerily similar history and have you noticed that when teflon was taken off the market a new silicone bakeware came to be? All silicone contains teflon. I had a silicone implant placed in a loaded jaw joint. My latest MRI shows silicone in my joint and God knows where else in my body. Dupont, Dow Corning and GE were also involved with silicone implants. When at the World's fair in New York as a child, I remember GE's exhibit and the song "It's a great big beautiful tomorrow"....
Maybe they were warning us back then in the 60's. GE, owning NBC News, criticizes the ongiong war in the Middle East yet earns great profits from the conflict. NBC claims that they are simply fufilling contracts previously drafted and entered into to supply weapons and parts for weaponry but discointinued this practice very recently. The contracts were to "civilian" companies within the borders of Iran. I don't believe that for a second.
The continuing fraud and corruption of these companies and our elected and appointed leaders should have us all up in arms and take to the streets. What has happen to high integrity, honesty, and accountability? In all things in which evil is protected only more evil can come.


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