After Barack Obama rammed his $620 billion tax increase bill through Congress with hardly any Republican support, he is now advocating even more tax increases. He, of course, will not use all of these gargantuan and economy-dragging tax increases to reduce the national debt nor his annual $1 trillion deficits -- four such deficits so far and counting -- but President Obama will use the additional tax revenue for his new spending programs.
Indeed, President Obama was in North Carolina yesterday pushing for all kinds of new spending programs including $1 billion in federal aid for a network of 15 so-called “innovation institutes” which will foster “more efficient” business models. This guy’s appetite for new government programs is insatiable. You would have thought that the absolute failure of Obama’s $1 trillion stimulus program in 2009 would have taught him a lesson. But listening to both his second inaugural speech and his state of the union speech on Tuesday shows that Obama absolutely is not chastened by the abject failure of his big government programs and he wants even more spending.