As Dems Stump for Stimulus 2.0, Americans Are Seeing Red

October 18, 2011

America’s Third Consecutive Year of Trillion-Dollar Deficits Under Obama Comes While Democrats Call for More Spending and Job-Destroying Tax Hikes

A report out late last week showed the U.S. budget deficit was above $1 trillion for the third consecutive year—an embarrassing milestone for an administration that has been reflexively spending money we don’t have and continues to call for yet another stimulus spending spree.
Even as they call for more failed stimulus spending, Democrats are fighting tooth-and-nail to resist further spending cuts to make the government live within its means. Democrat Leader Nancy Pelosi firmly said she would not agree to any further spending cuts as a part of a deficit reduction deal.
Instead of resolving to undo their failed spending spree of the last several years, Democrats are proposing more job-destroying tax increases to accompany their calls for more failed stimulus. And Americans are understandably angry that Democrats seem unable to learn their lesson from one bout with failure.

BACKGROUND

A report out late last week showed the U.S. budget deficit was above $1 trillion for the third consecutive year—an embarrassing milestone for an administration has been reflexively spending money we don’t have and continues to call for yet another stimulus spending spree:

“U.S. BUDGET DEFICIT HIT $1.3 TRILLION IN FISCAL 2011,” “STAYING ABOVE $1 TRILLION FOR A THIRD STRAIGHT YEAR”: “The U.S. budget gap widened slightly in fiscal 2011, staying above $1 trillion for a third straight year and providing fodder for a political battle over taxes and spending ahead of next year’s presidential election.” (“US Budget Deficit Hits $1.3 Trillion in Fiscal 2011,” Reuters, 10/14/2011)

“NATIONAL DEBT HAS NOW INCREASED $4 TRILLION ON PRESIDENT OBAMA’S WATCH.” “The latest posting by the Treasury Department shows the national debt has now increased $4 trillion on President Obama’s watch. The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion.” (Mark Knoller, “National Debt Has Increased $4 Trillion Under Obama,” CBS News, 8/22/2011)

OBAMA DEBT BURDEN “THE MOST RAPID INCREASE IN THE DEBT UNDER ANY U.S. PRESIDENT.” (Mark Knoller, “National Debt Has Increased $4 Trillion Under Obama,” CBS News, 8/22/2011)

LAST WEEK OBAMA OFFERED $467 BILLION IN TAX INCREASES TO PAY FOR $447 BILLION IN STIMULUS 2.0: “The Obama administration is asking Congress to raise taxes by $467 billion over 10 years to pay for the President’s one-year $447 billion stimulus, which he announced during a speech Thursday before a joint session of Congress.” (Neil Munro, “Obama Asks Congress for $467-Billion Tax Increase to Fund Jobs Plan,” The Daily Caller, 9/12/2011)

DEMOCRAT LEADER NANCY PELOSI: “OUR CAUCUS IS VERY UNIFIED” ABOUT OBAMA’S NEW STIMULUS AND TAX HIKES. “Dem Leaders Pelosi adds ‘Our caucus is very unified about the American Jobs Act’ responding to ?s about some Dems not liking Obama plan” (Tweet from Kelly O’Donnell, NBC News, 9/15/2011)

Even as they call for more failed stimulus spending, Democrats are fighting tooth-and-nail to resist further spending cuts to make the government live within its means. Democrat Leader Nancy Pelosi firmly said she would not agree to any further spending cuts as a part of a deficit reduction deal:

PELOSI TELLS LIBERAL BLOGGERS: DEMOCRATS WILL “REFUSE TO AGREE TO FURTHER SPENDING CUTS” EVEN IF IT MEANS A SHUTDOWN. “At a meeting this morning with online writers, House Minority Leader Nancy Pelosi tried to persuade progressives that the Democratic caucus won’t get rolled in future hostage standoffs. … The clear implications, however, is that she does in fact expect Democrats to refuse to agree to further spending cuts even if refusal results in a shutdown.” (Matthew Yglesias, “Pelosi Vows Dems Won’t Get Rolled Again,” Think Progress, 8/4/2011)

Instead of resolving to undo their failed spending spree of the last several years, Democrats are proposing more job-destroying tax increases to accompany their calls for more failed stimulus. And Americans are understandably angry that Democrats seem unable to learn their lesson from one bout with failure:

“OBAMA VOWS VETO IF DEFICIT PLAN HAS NO TAX INCREASES”: “President Obama called on Monday for Congress to adopt his ‘balanced’ plan combining entitlement cuts, tax increases and war savings to reduce the federal deficit by more than $3 trillion over the next 10 years, and said he would veto any approach that relied solely on spending reductions to address the fiscal shortfall.

“ ‘I will not support any plan that puts all the burden for closing our deficit on ordinary Americans,’ he said.” (Helene Cooper, “Obama Vows Veto if Deficit Plan Has No Tax Increases,” The New York Times, 9/19/2011)

“HOUSE DEMS WANT DEFICIT PANEL TO FIND ‘SIGNIFICANT’ NEW REVENUES”:“The policy package — consisting of recommendations from the senior Democrats on 16 top committees and sent to the leaders of the deficit-slashing supercommittee — calls for significant new revenue hikes to reduce the deficit. …

“ ‘The American people overwhelmingly agree that significant revenues must be included in any plan,’ Minority Leader Nancy Pelosi (D-Calif.) said in a letter to the supercommittee that accompanied the proposals.” (Mike Lillis, “House Dems Want Deficit Panel to Find ‘Significant’ New Revenues,” The Hill, 10/13/2011)

CNN POLL: 59% OF AMERICANS SAY OBAMA’S POLICIES WILL FAIL, NEARLY DOUBLE THE LEVEL IN 2009: “According to the survey, 36% say they think the president’s policies will succeed, with 59% saying Obama’s policies will fail, up 12 points from last year and nearly double the 32% who said in 2009 that the president’s policies will fail.” (“CNN Poll: Record High Say Obama’s Policies Will Fail,” CNN, 10/17/2011)