Posts tagged ‘Dan Mitchell’

Ugh, I Missed This Little Turd

From Dan Mitchell

Called a “debt failsafe trigger,” Obama’s scheme would automatically raise taxes if politicians spend too much. According to the talking points distributed by the White House, the automatic tax increase would take effect “if, by 2014, the projected ratio of debt-to-GDP is not stabilized and declining toward the end of the decade.”

Pretty good evidence that the default mentality in Washington is that "all your money are belong to us" and whatever is leftover that the government does not happen to spend, you are welcome to use for yourself.