All you hopey-changey folks out there who bought the Obama line about tax cuts for everyone but the “rich”. Nancy Pelosi has a message for you: Just Kidding!
The House voted 233 to 196, along party lines, to approve a streamlined version of Obama’s budget request that would trim his spending proposals for the fiscal year that begins in October and curtail his plans to cut taxes. But it would permit work to begin on the central issues of Obama’s presidency: an expansion of health care coverage for the uninsured, more money for college loans and a cap-and-trade system to reduce gases that contribute to global warming.
Best of all is that there is no money to pay for all of this. Or nowhere near enough. So the very first thing tossed overboard are Obama’s much-ballyhooed middle class tax cuts. But a gargantuan tax hike on energy usage (which will be highly regressive, impacting those least able to afford it) THAT’s in.
How’s that hope for change, America? Is this really the change you voted for?
Wait until that energy tax begins to bite.