Pelosi wants to Spend Another $26 Billion

Just a couple weeks after Congress voted to spend $34 billion to extend jobless benefits, Nancy Pelosi is bringing the House back from its summer recess to vote on another $26 billion bill to send aid to the states who face budget crises. This supposedly will help save 140,000 teacher jobs and other government jobs.

So, what's another $26 billion? $34 billion here, $26 billion there, pretty soon we'll be talking about real money!

And Obama and the Democrats still find the nerve to trash George W. Bush for running up the deficit! Yet, we will be having trillion dollar deficits as far as the eyes can see, because now that the Democrats and Obama have raised the bar on spending, they surely don't want to go back to pre-recession levels.

This is how Washington grabs power. In an emergency, they raise the spending, which makes the public more dependent on government, and then they raise taxes. There is no effort whatsoever to cut spending once the emergency has passed.

I read that 45% of the population paid no federal income taxes in 2009. 45%! Yet, the Democrats want to let the Bush tax cuts expire on January 1. They may let the lower bracket rates stay the same, but raise the rates at the high end. They will combine this with an increase in capital gains tax rates and revive the estate tax. Their excuse is that this will only effect about 2% of the population. Well, that 2% is who creates the jobs! Additionally, I want to be part of that 2%!

Yet, since this will result in an economic headwind, how will I make enough income to get into that top 2%? I will keep striving of course, but Washington continues to make it more and more difficult for all of us. Until we get some fresh new leadership down there, such as a JFK or a Reagan, this economy will be a dud for years to come.