Up to 00 Another Big Budget Blow-Out Get Loans Now

With summer coming, your thinking may be embracing whether you'll need an additional mortgage to afford a drive on the beach--or even for the grocery store.

But, of course, for the spendaholics in Washington, gasoline costs must really appear to be chump change--compared for the federal budget.

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When surfing the 'Net one other day, this headline in the Associated Press screamed out for attention: "Democrats Agree on .9 Trillion Budget." Yes, which is "trillion" having a "t"--and nearly three trillion at that.

Another Big Budget Blow-Out

It ought to be said that the Democrats provide the old term "new math" new meaning. For, along using their huge budget blueprint, they also announced there can be a billion budget surplus in five years. Five years is an extended time, especially in "Democratic years." It means that your child could finish high school and from college before you'd ever view a dime of the surplus.

But wait--I am getting in advance of myself here. For the Democrats don't really intend for you, the common taxpayer, to take advantage of that surplus. Because, you see, according to Dem calculations, that surplus 5 years hence are only able to occur if a number of President Bush's tax cuts are in a situation to expire.

That's right--the Democrats in power on Capitol Hill are yet again declaring war on tax cuts. Doesn't it make you yearn to the days when Republicans were in control over Congress? Oh, that's right--even some Republicans tend to catch spendaholic fever after they reach Washington.

Under the Democratic blueprint, taxes on income, dividends, and stock sales will increase in 2013--what I would call a blueprint for economic stagnation. There's strong evidence that the tax cuts approved in 2001 and 2003 helped to jumpstart a stalled economy--but Democrats are apparently closing their eyes around the evidence. Why? Because it conflicts using their vision of government being the primary engine of economic growth, rather than business.

Democrats are ready a ray of hope for that middle class in the form with the chance of renewing some tax cuts totaling about 0 billion. The pay-as-you-go rule would be also applied--meaning that spending increases in Medicare, children's health care, or farm subsidies would've to be covered in advance to ensure the deficit won't grow larger. The concern is how the plan doesn't limit the financing to spending cuts, but also permits tax increases in other areas with the budget to generate up for your shortfall.

Senate Budget Committee Chairman Kent Conrad, a Democrat from North Dakota, was quoted with the AP as saying, "We've been placed in a very deep hole. This plan will commence to dig us out." But a Republican for the same committee, Judd Gregg of New Hampshire, burst the Democratic bubble by noting that this budget blueprint would yield "the largest tax surge in U.S. history" as well as "billions in new spending."

It's clear that, with their latest federal financial plan, the Democrats are gearing up their pr machine to the 2008 election. The issue is that, quite simply, their numbers usually do not add up.

And I think the typical taxpayer is finally catching on.



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