The tax increases and spending cuts scheduled to take effect January 2013 would slow the economy and raise unemployment next year unless policy makers strike a deal to keep those changes from having an impact. This agreement would boost the economy in the short term, but it would also expand the federal budget deficit over time if not combined with other policy changes. A $1.2 trillion federal deficit is projected for fiscal year 2012. This will be the fourth straight projected deficit of over $1 trillion, and Republicans are saying this proves that Obama was not doing enough to reduce government spending and expand the economy. I agree with the republicans that Obama has not done enough to get this country back on its feet.
http://online.wsj.com/article/SB10001424052970204740904577194872392678482.html?mod=WSJ_hp_MIDDLENexttoWhatsNewsSecond
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