On Tuesday, the Congressional Budget Office projected a deficit of $1.1 trillion in 2012, jobless rates to stay well above 8.0 percent and economic growth to stay around two percent.
Nebraska Sen. Mike Johanns (R-Neb.) says these numbers prove that the Obama agenda is not working and is actually making things much worse.
“Everything he is doing is causing high unemployment and it looks like it’s going to get worse.”
Johanns is stunned that Obama hardly even referenced deficits in his State of the Union speech. He also says projections of much lower deficits in the coming years will not happen because those estimates assume all of the Bush tax cuts will expire.
“You don’t see him talk about deficit. He’s making it clear that his policies are going to result in the middle class being hammered. There’s no way out of the mess that’s being created. This is a snowball coming down the mountain.”
Johanns says scrapping the Bush tax cuts would depress our economy. He also gives a glimpse at the fiscal restraint Senate Republicans will be advocating this year.