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Letter: It’s a spending problem

Posted: August 18, 2012 2:00 a.m.
Updated: August 18, 2012 2:00 a.m.

With a GDP of $15 trillion, the U.S. in July carried $15.9 trillion in official debt and unfunded liabilities of $38.6 trillion in Medicare and $8.6 trillion in Social Security. And that’s just what’s officially acknowledged.

So, what’s Obama’s answer? “Tax the rich,” of course.

You all know the drill.

Well, you can take 100 percent of the incomes of every couple that makes more than $250,000, and it amounts to a trillion or two. That’s $2 trillion max, against a debt of more than $60 trillion.

Sorry, Mr. President ... the U.S. has a spending problem. It doesn’t have a taxing problem.

And you, dear sir, are the Spender-In-Chief


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