The President’s “Debt Reduction”: $1.6 Trillion in Tax Hikes, Almost No Net Spending Reductions

During his Rose Garden speech Monday, the President claimed that his new “debt reduction” plan would provide $2 of spending cuts for every $1 of tax increases. A closer look at the administration’s own numbers, however, suggests the President, well, exaggerated. A realistic assessment—based mainly on table S-6 of the Administration’s plan—shows that his $1.57 […]

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al Qaeda Delivers New Message from Bin-Laden Claiming Credit for “Arab Spring” Uprisings

He may be dead, but he won’t stop talking: Osama Bin Laden’s latest message, apparently recorded shortly before his death, was released by Al Qaeda on Tuesday, two days after the U.S. commemorated the 9/11 attacks. In the message, Bin Laden urged Americans to “rise up” against the large corporations – and Israel -which control the […]

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NTC Given Libya’s UN Seat

The UN General Assembly voted Friday to give Libya’s seat in the UN to the National Transitional Council which led the rebellion that ousted former strongman Muammar Qaddafi. The Associated Press reported that the resolution was approved by a vote of 114-17 with 15 abstentions. The vote means that a senior council official will be […]

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Solyndra Execs Renege, Will Take the Fifth at Oversight Hearing

Two Solyndra executives slated to testify before a House committee Friday have announced they will invoke their Fifth Amendment rights against self-incrimination and refuse to answer any of the committee’s questions. The two had previously told the committee they would not plead the Fifth if they could push back the date of their testimony. Jan […]

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President Barack Obama provided a broad outline of his deficit reduction plan Sunday that includes $1.5 trillion in new taxes through a new tax rate for millionaires and repeal of the Bush tax cuts for Americans couples making more than $250,000 per year. The millionaire’s tax proposal, dubbed the “Buffett Rule” by the White House, […]

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$1.5 Trillion in New Taxes

Two years ago, as the United States was coming out of the last recession, President Obama was asked how raising taxes on anyone would help with the economy. The President’s answer? “Normally you don’t raise taxes in a recession, which is why we haven’t, and why we’ve instead cut taxes.” Fast forward to today, as […]

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