Without the super committee, the spending cuts start automatically in January of 2013.
When the Bush tax cuts expire in December of 2012, Obama won't allow them to be renewed.
Spending cuts + a return to the old tax rates = deficit reduction.
Congress has been taken out of the equation. No treasonous Tea Party/Republicans to mess things up.
Another brilliant move by Obama.
When the Bush tax cuts expire in December of 2012, Obama won't allow them to be renewed.
Spending cuts + a return to the old tax rates = deficit reduction.
Congress has been taken out of the equation. No treasonous Tea Party/Republicans to mess things up.
Another brilliant move by Obama.