Whether the deal to reduce the government deficit passes or not, says radio talk-show host Rush Limbaugh, the American people are still going to get a tax increase.
“Any way you slice it you are going to get tax increases. That’s how screwed we are,” he said.
Limbaugh blames the complex accounting done by the Congressional Budget Office, he said on his radio show on Monday.
President George W. Bush’s tax cuts that are due to expire at the end of next year, he says. If Obama extends the cuts, the CBO will consider that a $ 5 trillion reduction in government income which will have to be made up elsewhere. If they expire, that’s a direct tax hike on Americans, Limbaugh said.
“Anyone wanting to tell you there are no tax increases in this technically may be right, this piece of legislation does not have a specific tax increases in it. But what’s slated to happen over the next few months results in one,” Limbaugh said.
“There hasn’t been a significant cut in spending,” he added. “There’s nothing that’s going to affect the rate of growth of government, nothing that’s making it smaller.”
Limbaugh said the current deal will give Obama the perfect argument to use during his reelection campaign because it’s a deal designed to continue economic decline.
“He’ll say ‘we tried slashing government spending, I went along with it and it didn’t help. Can we all agree now finally that the rich will have to pay their fair share?’ “
“That’s what I see coming down the pike as part of Obama’s reelection narrative.”
Limbaugh played an excerpt from White House press secretary Jay Carney’s briefing in which he made it clear that Congress’ 12-person commission would not be barred from increasing taxes. “One of the selling points for Republicans is that it will be impossible for this select commission to raise taxes. Jay Carney disagrees.
“These are the presumptions that everyone’s been acting on, the White House is saying, no, you’re wrong.”
Limbaugh said the media has been falling over itself to praise the deal, and that is further proof that it has faults.
“The media is calling this a victory in order to get the house Republicans to vote for it, calling it a big win for the tea party.
““The left wants the pols to say that this grand bipartisan bill has gutted government spending,” he added. “It’s all part of the tea party winning. The left will embark on an all-out effort to declare the ‘debt ceiling elevator deal’ as a huge cut in the size of government. Government haters win – blah, blah, blah.
“So when the economy continues to implode, and it will by design — this is a campaign year, it is a presidential election year — they’re going to portray this as a massive cut in government. You’ve seen it. That’s why everybody is talking about it being a big win for the tea party.”
© 2014 Newsmax. All rights reserved.