The House and Senate Republicans who voted for this 'deal', voted for $3.9 trillion more federal debt. The CBO has scored this 'deal', and this is an enormous budget-buster.
So the budget situation more than ever requires a balanced plan. The President promised that a balanced plan includes $1.6 trillion in revenue over 10 years.
Carney said Tuesday that Obama would reprise his plan from earlier this year to raise $1.6 trillion in taxes by raising tax rates, imposing a new special tax on millionaires and scaling back deductions and loopholes.This deal gets about $600 billion in new revenue. The President and Democrats must ensure that future budget plans, spending AND revenue, includes at least $1 trillion in new revenue. They must publicly state that there is a gap of $1 trillion in revenue.
Anything less than the bottom line $1 trillion in revenue......NO!. UNACCEPTABLE!
As HoundDog diaried earlier today, With-tax-revenues-of-only-18%-of-GDP-we-can-not-sustain-government-spending-of-23% !!