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President Obama continues to call for a “balanced approach” when it comes to raising the debt ceiling. In fact, he did so seven times during his primetime speech to the nation this past Monday. So what is the president’s idea of a balanced approach?
Well we know he continues to call for an increase in revenue which is simply Madison Avenue speak forraising taxes. To many Americans this probably sounds like a good idea, we just need more money so the government can meet its obligations. But where will that money come from?
According to the president it’s going to come from those evil rich people making more than $250,000.00 per year. They can afford it, they all own private jets and are not paying their fare share. The problem is that the president’s math does not work; you cannot raise more than a trillion-dollars in revenue by only taxing those that make more than $250K per year.
