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National Debt


  • September 22, 2011

    Washington, D.C. – Today, CapitolWatch called on Members of Congress to reject President Obama’s tax andspend solution to lowering the employment rate. Following the President’sfailed trillion dollar stimulus effort his latest job creation gimmick is asecond half trillion dollar stimulus, this time complete with tax increases.

    “The President himself said that you ‘don’t raise taxes’ in a downeconomy, yet he’s brought up the tired idea of taxing families and businessesby billions of dollars, while spending billions more on untold projects ofdubious value,” said Steve Ralls, Executive Director for CapitolWatch.

    After almost three years in office and a fluctuating unemployment ratewhich now hovers at 9%, President Obama has decided to solely focus on jobcreation. For those with short memories, the month after he was inauguratedwith the help of a Democrat controlled Congress, the President passed atrillion dollar stimulus bill. This bill was also supposed to create jobs and“keep the unemployment rate below 8%” according to White House economists. Nowcomes a second pass, this time being branded as a “jobs” (not “stimulus”) billat a price tag of $447 billion.

     “How much more do we have tospend on the failed ‘stimulus’ experiment to realize that this is an idea bestreserved for the classroom and not Main Street. The true path for job creationis creating incentives for small businesses and reigning in the out of controlgovernment spending which has been crowding out investment by the privatesector,” added Ralls.

    Key to the President’s plan would be to limit itemized deductions forindividuals who make more than $200,000 a year and families that make more than$250,000. This is something the Obama administration has previously pushed todo through its budget proposals. Office of Management and Budget Director Jack Lewtold reporters at a White House press briefing that this would raise about$400billion in new revenue.


    CapitolWatch is a non-profit grassrootspublic education organization with over 250,000 supporters nationwide –communicating with Congress on behalf of all American taxpayers. CapitolWatchis dedicated to defending American taxpayers from higher taxes and wastefulspending. Originally established in 1984 - during the Cold War - as apro-defense lobby, CapitolWatch has evolved into a forceful advocate fortaxpayers' rights. With the help of it’s over 250,000 supporters, CapitolWatchserves as an influential voice for taxpayers in Washington. Learn more at:

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