President Obama counting new taxes as spending cuts

Eyeglasses with newspaper and coffee cup

With the passage of the March 1 deadline, sequestration is now set to take effect. The next big battle is the Continuing Resolution, which according to Tea Party Patriots Legislative Advisor Bill Pascoe should be a relatively simple battle. Bill reported to Tea Party Patriots Local Coordinators on Sunday that both sides are tired of near-disasters with deadlines, so Democrats are likely to accept sequestration as part of the next Continuing Resolution. Republicans are likely to accept funding for the Affordable Care Act as part of their end of the bargain.

Before we move completely past sequestration onto the Continuing Resolution, however, it’s important that Patriots across the country have the weapons necessary to combat continued misleading statements by the Beltway crowd. Late last week, Investor’s Business Daily (IBD) found a big weapon in the President’s claim that he wants a “balanced” approach to deficit reduction:

Worse, Obama’s “balanced” plan actually counts hundreds of billions of new revenues from taxes, fees and rebates as “spending reductions.” Examples:

• His plan to “strengthen” unemployment insurance is labeled as a cut, but it’s really a $50 billion tax hike.

• The $35 billion from the federal worker retirement programs involves boosting worker contributions.

• Most of the $35 billion in Medicare savings comes from charging wealthy seniors more.

• The $140 billion in “reduced payments to drug companies” are in fact rebates Obama wants drugmakers to pay Uncle Sam for selling drugs to poor seniors.

• Then there’s the $45 billion in spectrum fees and asset sa

President Obama  counting new taxes as spending cuts

les that Obama lists as spending reductions.

Viewed correctly, it turns out that more than $300 billion — about a third — of Obama’s proposed “spending cuts” are actually revenue increases.

The next time your Congressman or Senators try to tell you at a town hall that the Tea Party and other fiscal conservatives should have accepted the President’s “compromise,” tell them the facts – that continuing to raise taxes under the false flag of deficit reduction and spending reductions is no substitute for real action on spending cuts and entitlement reforms.