Last Friday, CBO released its estimate of the President’s budget, which showed $1.1 trillion in reduced borrowing. That is significantly less deficit reduction than the President’s claim of $1.8 trillion when he released his budget just last month. CBO also shows almost all of the deficit reduction is through higher taxes. The President’s budget would raise nearly $1 trillion in taxes to pay for canceling the nearly $1 trillion sequester. This is nothing new from President Obama. His budgets have always supported higher taxes -- not to reduce the debt, but to finance his vision of a liberal government that has a simple answer for every problem: more spending.
When Americans hear about the unraveling IRS scandal, they might not automatically think of their health care. But they should. The health care law was allowed to stand by the U.S. Supreme Court only because it was determined to be a tax. Enter the IRS.
All indications are that Democrats will propose a sequester delay that is just more taxes on hardworking taxpayers. The total raised by these tax increases in one year would be $11.1 billion. The sequester’s size in 2013 is $85 billion. These taxes raise $101 billion over 10 years, compared to the Budget Control Act’s sequester and lowered discretionary spending of $995 billion.
The U.S. Court of Appeals for the Third Circuit ruled last week that another unilateral appointment by President Obama was unconstitutional. The decision -- NLRB v. New Vista -- agrees with the reasoning of U.S. Court of Appeals for the D.C. Circuit. That court ruled in January, in the Noel Canningcase, that the President’s authority to make recess appointments is limited to inter-session recesses of the Senate, and not intra-session recesses.