November 14, 2012

On the futility of letting the Bush tax rates expire and expecting it to solve the budget deficit…

Do you know how much money is raised by eliminating the Bush tax cuts? It's $824 billion. We're now looking, ladies, at our fifth trillion-plus-dollar deficit. So all during the campaign we shouted our lungs out, we shouted from the mountaintop, "You cannot reduce the deficit, you can't even make a dent in the deficit by letting the Bush tax rates expire! There's not enough money. You can't do it. In fact, if you confiscate all the money the rich have over a million dollars, you run the government for six weeks and then you're out of money. That's how much money we're spending. That's how much money that we are watching go out the door and how much money we're borrowing.”

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