Wednesday, January 2

Wow! Disaster avoided! Obozo has *saved* us!!

Do you consider yourself both liberal and pretty well informed about the government, the economy and the financial conditions of each?

If so, try answering some basic questions.

First, what's the concensus estimate (CBO) amount of new taxes the shit-sandwich bill passed to avoid the so-called fiscal cliff is slated to raise each year?

Second: How much *more* cash did the Obozo administration spend in the most recent fiscal year than it took in in all taxes combined? (I.e. what was the "deficit" for the last year?)

Third: To the nearest one percent, the amount *predicted* to be raised by the income tax increase is what percentage of the most recent year's deficit?

Once you've tried answering those *very* basic questions, look at the graph below:

The left bar is the amount of the income-tax increase per year: $62 Billion.
The right bar is the federal deficit for the fiscal year just ended--something like a TRILLION dollars, which is one thousand Billions.

So if not a single "rich" person adjusts their situation to pay lower taxes, and the new "magic bullet" law does indeed collect the planned $62 Billion per year, we will knock that deficit down by...six percent.

Oh wait...that would also require that government *spending* not increase.

So...how serious were any of the people who passed this worthless piece of crap?



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