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Saturday, October 15, 2011

Under Obama 2009 And 2011 Deficits The Highest In History

By Susan Duclos

The Hill reports that according to the Treasury 2011 produced the second highest deficit in history at $1.299 trillion with highest being in 2009 with a $1.412 trillion shortfall.

Both occurred under Barack Obama's presidency.

I am sure many liberal Democrats will claim the deficit is so high because there isn't enough revenue, hence in their eyes the tax and spend Democrats will scream about raising taxes.

In the words of Marco Rubio, we do not need any new taxes we need taxpayers. That means job growth, the more people put to work the more revenue via taxes are paid into the system.

Republicans have unveiled their jobs package, which addresses that very problem. Not increasing revenue by increasing taxes but by creating jobs and an atmosphere of stability for job creators to put America back to work.

The plan includes but is not limited to;

•Reducing regulatory burdens by requiring congressional review and approval of any government regulations that have a significant impact on the economy or burden small businesses and auditing existing and pending regulations to identify and address those that hinder economic growth.

•Fixing the tax code by increasing competitiveness to spur investment and create more American jobs by streamlining the tax code and lowering the tax rate for businesses and individuals including small business owners to no more than 25 percent and reforming the tax code to allow American businesses to bring back their overseas profits without having to pay a tax penalty so they can invest in our economy and create American jobs.

•Encouraging entrepreneurship and growth by Modernizing our patent system to protect our nation’s innovators, discourage frivolous lawsuits, and expedite patent reviews, Re-Authorize and improve federal programs and approval processes to streamline
development of new products and Removing barriers to building a first class workforce so that the United States can compete in the global marketplace and lead the way in technological development and growth.

•Maximizing domestic energy production by promoting lower energy prices through increased domestic production and encouraging all forms of energy production.

•Paying down America’s unsustainable debt burden and start living within our means by enacting further spending cuts.

Instead of attacking businesses and creating an atmosphere of fear because of over regulation and constant threats of raising their taxes, give them stability so they can grow, expand and put Americans back to work again.

And I'm saying it bluntly, that this administration is the greatest wet blanket to business, and progress and job creation in my lifetime. And I can prove it and I could spend the next 3 hours giving you examples of all of us in this market place that are frightened to death about all the new regulations, our healthcare costs escalate, regulations coming from left and right. A President that seems, that keeps using that word redistribution. Well, my customers and the companies that provide the vitality for the hospitality and restaurant industry, in the United States of America, they are frightened of this administration.And it makes you slow down and not invest your money. Everybody complains about how much money is on the side in America.

You bet and until we change the tempo and the conversation from Washington, it's not going to change. And those of us who have business opportunities and the capital to do it are going to sit in fear of the President. And a lot of people don't want to say that. They'll say, God, don't be attacking Obama. Well, this is Obama's deal and it's Obama that's responsible for this fear in America."------ Steve Wynn, the CEO of casino company Wynn Resorts

The more people they put to work the more revenue is collected via taxes and the smaller the deficit becomes.

It is simple math.

You can see the America's Job Creators Act here. (10 page PDF)