Obama & Senate Republicans Reach Fiscal Cliff Deal: New Tax Hikes & No Cuts in Record Spending

"Gee, a very last minute deal that gives Barry everything he wanted, without ANY compromise on his part. The Fascist Liar "wins" again. He puts working Americans under the tyranny of a socialist-like government that takes its money and redistributes it to the lazy and those, who have decided to be dependent on the welfare state anyway they can. Our government unconstitutionally redistributes wealth through entitlements, welfare, and overreaching federal regulating agencies. The Fascist Liar doesn’t care; because he promised to fundamentally change America. His fellow fascists cheer him on. I do not know how in the world highly-educated people can fall for that idiotic notion. Enjoy your tax hikes fools. It’s all coming out of YOUR pocket. You’re just too stupid to realize that . Just like the press conference he gave last night surrounded by those morons. They act like trained seals. No offense to the trained seals. Not one of those “low information morons” understands that every dollar they squeeze out of the “rich” is eventually going to come out of the pockets of regular Americans. I guess Ron White was right when he said “you can’t fix stupid”. MC

Since the President took office, annual government spending has increased by 25%, with the federal government spending $3.6 trillion this past year. As a share of the economy – Federal spending has averaged over 24% of gross domestic product – the highest level as a share of the economy since World War II.
(Budget House)

Obama and Senate Republicans reached a fiscal cliff deal late Monday. The deal will include new tax hikes on wealthy Americans and no cuts in Obama’s record spending.

The Washington Post reported:

President Obama and Senate leaders struck a bipartisan agreement late Monday to let income taxes rise sharply for the first time in two decades, fulfilling Obama’s promise to raise taxes on the rich and avoiding the worst effects of the “fiscal cliff.”
The agreement, brokered by Vice President Biden and Senate Minority Leader Mitch McConnell (R-Ky.), primarily targets taxpayers who earn more than $450,000 per year, raising their rates for wages and investment profits. At the same time, the deal would protect more than 100 million households earning less than $250,000 a year from income tax increases scheduled to take effect Jan. 1.