Obama says the country can’t afford the “cost” of tax cuts that were instituted about a decade ago. The word “cost” is used by nearly every news organization in this regard. We (as in the non-wealthy) supposedly “pay” for the “cost” of a new tax rate. Now, unless the president is arguing that the baseline of government spending should encompass owning all your money and anything the IRS doesn’t take “costs” something, then only spending can really “cost” Americans.
Moreover, if the imaginary $80 billion yearly “cost” is so significant, why can’t the president match it with a mere $80 billion in real spending cuts? Who “pays” for the cost of failing to cut spending ? Rather, the president’s proposed budget would add $6.4 trillion in deficits between 2013 and 2022, according to the non-partisan Congressional Budget Office.