Jobs Plan: Excuse to Grow Government
The President made us listen to a speech on another expensive, repetitive “jobs” program. As he outlined another $447 billion, he told us that he wanted to offset the new outlays with cuts to other programs. He’d even ask the super committee to find that amount in cuts over ten years. While failing to actually create jobs, at least he wasn’t just using jobs as a shell game to make government bigger.
Wrong. The plan, of course, includes four or five hundred billion in tax increases.
Yesterday, the President’s policy team made clear that the new spending would increase the size of government, as it would be equaled by tax hikes. Of course in Washington accounting, one year’s worth of spending is equal to ten years of tax hikes. But it’s not just about tax hikes and spending increases, it’s that the President and his liberal allies are using both as a solution to our economic woes.
The President still thinks that redistributing money is the key to economic growth. His formula: more taxes on those making over $250,000 a year, hedge fund managers, and jet owners + giving cash to unemployed people and companies willing to hire them = sound economic strategy.
This, and his much-ballyhooed bank regulation package causes Bank of America to announce 30,000 layoffs over the next few years. Let me be clear, our economy can’t take much more of this liberal meddling.