Obama's economy
All he wants is our money. From
Bloomberg:
Obama Says U.S. Needs Revenue Along With Spending Cuts
President Barack Obama said there is �no doubt� the government needs new revenue from closing tax �loopholes� and limiting deductions, along with enacting spending cuts, to reduce the federal deficit.
There�s �no reason why we can�t have really strong growth in 2013,� the president said in an interview with CBS television yesterday before the network�s Super Bowl broadcast. He cited a recovering housing industry, strong manufacturing and rising car sales.
More taxes? He doesn't understand his spending problem. If we taxed everybody at 100% when their income topped $250,000, that would raise enough revenue to run government for about nine months.
Another little item from
The Hill:
Gasoline costs take biggest share of household income in three decades
Trips to the gasoline pump in 2012 and 2008 took their biggest share of U.S. household income in several decades, according to the federal Energy Information Administration (EIA).
The Energy Department�s statistical arm reported Monday that the average household spent $2,912 for gasoline in 2012, which makes up almost 4 percent of pre-tax income, tying 2008 for the highest percentage in roughly 30 years.
Which of course will raise the prices of everything that has to be delivered at some point in the manufacturing chain -- ie: everything...
Posted by DaveH at February 4, 2013 5:34 PM