Clinton, Obama ignore budget crisis, promise billions

[Terri]

McClatchey

HOUSTON — Hillary Clinton and Barack Obama champion fiscal responsibility on the campaign trail, but both Democratic presidential hopefuls are promising massive new spending without providing details on how they'd pay for it.

The nation already will face unprecedented fiscal challenges as the baby-boom generation — about 76 million Americans born from 1946 to 1964 — reaches retirement age and begins straining the federal budget as never before.

The federal budget deficit is projected to exceed $400 billion next year. Deficits are paid for by borrowing. The gross federal debt, the sum of what our government owes, is in the neighborhood of $9 trillion.

More (http://www.mcclatchydc.com/227/story/28448.html)

[clovers]

This is not new! The Democrats have been "economically challenged" as far back as I can recall. FDR actually prolonged the depression with his misguided fiscal policies, and they STILL regard him as a "savior".

Does it take a genius to understand, that by raising taxes on business to give away to the non-producers, they are simply compounding the problem? 1. a business exists for the purpose of making money.
2. if a business LOSES money, the most obvious step is to reduce expenses, so higher taxes = more layoffs and/or downsizing, or even an increase in prices, and the inflationary spiral continues.

If a fifth grader could figure that out, where does that place our legislators?