Wednesday, April 7, 2010

Obama's First Asteroid?

During a speech in which he tried "selling" Health Care Reform after he already signed it into law, O.B.A.M.,A.* mocked Republicans, Independents, TEA Party activist and the rest of us who don't like high deficits and debt, saying that when he signed the disastrous Health Care act, he looked around and didn't see any asteroids.

Well, look again, O.B.A.M.,A., the first one may be on its way...

The United States should consider raising taxes to help bring deficits under control and may need to consider a European-style value-added tax, White House adviser Paul Volcker said on Tuesday.

Volcker, answering a question from the audience at a New York Historical Society event, said the value-added tax "was not as toxic an idea" as it has been in the past and also said a carbon or other energy-related tax may become necessary.

Though he acknowledged that both were still unpopular ideas, he said getting entitlement costs and the U.S. budget deficit under control may require such moves. "If at the end of the day we need to raise taxes, we should raise taxes," he said.

* O.B.A.M.,A. = One Big Ass Mistake, America


Chuck April 7, 2010 at 6:38 PM  

I don't think Mr Volcker was speaking out of turn. I think this is what is called a trial balloon. We have had a lot of these during the Obama reign, some have worked some have failed. Basically one of the administration officials raise a controversial idea and then the administration watches for the public response. If there is no outcry, we will hear from it again. If there is, the administration says the official misspoke or was misinterpreted or some other nonsense.

WoFat April 7, 2010 at 8:15 PM  

I think mr. volcker meant, "We know this is unpopular, but we have the votes to pass anything we bloody well please – and you can't do anything about it. Na na na na na na."

Anonymous,  April 7, 2010 at 11:14 PM  

We are going to get shafted.
But pay backs are a Bi---.

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