Tag: Barrack Obama

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The Republican Tax Plan…An Exercise In Hypocrisy and Deceit

Senator McConnell said. “My preference on tax reform is that it be revenue neutral.” The old deficit hawk expressed his distaste for any further swelling of the national debt.  “What I hope we will clearly avoid, and I’m confident we will, is a trillion-dollar stimulus,” It was clearly obvious to almost anyone that there was no need for a trillion dollar stimulus. Under the Obama administration the economy was on the rebound, the American auto industry had been pulled back from the brink of bankruptcy, the Dodd-Frank banking act had added tough new regulations that insured the shenanigans of the Wall Street banks would not plunge the country into monetary crisis again.  The day before the election in 2016 the Dow Jones Industrial Average closed at 18,259.  The unemployment rate was at 4.6% when President Obama left office, down from a high-water mark of 9.7 in? 2010.  Despite McConnell’s sentiments on deficit spending, that is what the Senate Republicans did last night, a $1 trillion unfunded “stimulus” package.