Or as they and the media like to now call taxes: Revenue.
Senate Democrats would raise nearly $1 trillion in new taxes under a budget proposal they laid out for President Obama while lunching with him in the U.S. Capitol on Tuesday.
The president is making the rounds in the Capitol to help facilitate talks on a budget deal, which is set to consume lawmakers in the coming months as they work to strike a “grand bargain” on reducing the nation’s debt and deficit.
“He is very supportive of the path we are moving down,” Sen. Patty Murray, D-Wash., said after the lunch.
Murray, who chairs the Senate budget panel, will unveil a budget plan Wednesday that would use $975 billion in tax increases and $975 billion in spending cuts to achieve $1.85 trillion in deficit reduction, according to those familiar with the plan.
Smoke, meet mirror. Here’s the amusing part: They claim there will be $1.85 trillion in deficit reduction with $975 billion in spending cuts (deep, painful cuts!), yet these are the same folks caterwauling about a puny reduction of $85 billion in future spending from the Obama Sequester. All day, every day there are doomsday stories about such an insignificant reduction in spending, but at the same time we’re supposed to believe they’re serious about knocking off nearly $2 trillion from the deficit? It’s just not credible.
Speaking of no credibility, even Obama’s former car czar has gotten in on the sequester hysteria with some amusing tweets:
Heartbreaking, isn’t it?