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Live Video: Obama on the Downgrade

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RogueOne8/08/2011 12:43:40 pm PDT

re: #264 allegro

Why is it always “entitlement reform” with you guys and never corporate welfare reform? Why is the latter never even in the lingo tossed so cavalierly?

because we can’t raise taxes high enough to compensate for the spending increases. The numbers do not add up no matter how badly you want to increase tax rates. In order to balance the budget we would have to come up with an extra $1.7 trillion/year in taxes. Not gonna happen.