National Income and Expenditures Source: OECD & Tax Foundation

Contradictory Messages from the Obama Administration on Tax Increases:

"You don't raise taxes in a recession.”
President Obama - August 5, 2009

“We have a Democratic president and administration that is prepared to sign a tough package that includes…a revenue component.”
President Obama - July 19, 2011

Former Obama Economic Guru admits Negative Effect of Tax Increases.
  • In a study authored by Christina Roemer, Former Chair of President Obama’s Council of Economic Advisors, found that even a tax increase of just 1% on the economy, would conversely have almost double a negative effect on the economy.
  • If taxes went up just 1% - 1.84% would be taken out of the economy – hurting job growth and economic activity.
  • To view the study – click HERE
Source: OECD & Tax Foundation
National Income and ExpendituresImage: Mary Meeker, Kleiner Perkins

Budget Growth at a Glance

  • This chart is good summation of our fiscal picture.
  • Note the size of the two pies, Income vs. Expenses.
  • The Obama anemic economy and high unemployment has resulted in $250B in less revenue since 2008.
  • Growth in the economy alone will not balance the budget-spending cuts are a must.
  • Entitlement programs–58% of the budget–is the fastest growing segment of our budget, rising 27% in just two years.
  • ObamaCare is a new entitlement program that has yet to be costed into this chart.
  • CBO says interest payments on debt will grow to $1 trillion in just 10 years.
  • Spending cuts outside of Entitlement programs won’t be enough to balance the budget.

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