Now that Paul Ryan has produced a long-term budget plan that Fiscal Commission co-chairs Erskine Bowles and former Sen. Alan Simpson have called “a serious, honest, straightforward approach to addressing our nation's enormous fiscal challenges.” People are beginning to ask where is the Democratic alternative. There isn’t one. And there isn’t going to be one anytime soon.
The reality is that liberals already used every trick in the accounting book to pay for Obamacare’s trillion dollars in new spending. Half of Obamacare was paid for by stealing more than half a trillion dollars from Medicare. The other half was paid for by a $813 billion tax hike. And after all that, President Obama’s must recent budget proposal still adds the an estimated $9.8 trillion to the country's accrued debt over the next decade.
There is only one way any Democratic plan could close the gap between what Obama wants the government to spend and what it is currently scheduled to take in: take more from you in the form of higher taxes. There’s just one problem: the American people think they are taxed enough already. An April 3-4, poll by Rasmussen Reports found that 64% of Likely U.S. Voters believe Americans overtaxed. The number is even higher among independents. 70% of voters not affiliated with either major party believe Americans have to pay too much in taxes.
Then again, Obama could just try and inflate his way out of the problem.