NH GOP - Obama-Biden Foolish to Believe 'Buffet Rule' Can Save Deficit

Either They’re Ignoring The Numbers Or They Don’t Care, Which Is It?

Concord, NH – New Hampshire Republican State Committee Chairman Wayne MacDonald released the statement below in advance of Vice President Joe Biden’s trip to the Granite State.  The New Hampshire Union Leader reported that “Vice President Joe Biden will talk about President Barack Obama's ‘efforts to promote tax fairness’ during a stop at the Exeter Town Hall on Thursday.” (John DiStaso, “Biden will Promote ‘Buffet Rule’ in Thursday Visit to Exeter,” New Hampshire Union Leader, 4/9/2012)

“If Joe Biden and President Obama want to talk about ‘tax fairness’ they should focus on ways to lower taxes as opposed to raising taxes on job creators and employers.  Voters in New Hampshire are smart enough to know that this ‘Buffet Rule’ gimmick is another empty talking point designed to win elections and ignore the problems we face.   The Wall Street Journal confirmed that the so-called ‘Buffet Rule’ would amount to ‘less than one-tenth of one percent of the $1.2 trillion budget.’  How can Biden and Obama say with a straight face that this is the solution to our $15 trillion national debt?

“This Obama-Biden ‘Buffet Rule’ disguise is a ploy to hide from voters the fact that this White House cannot and will not force the government to live within its means.  Granite State families are forced to live with tighter and tighter budgets, especially in the face of rising gas prices, yet Obama continues to campaign and ignore the problems we face.”

Additional Information on the “Buffet Rule” & Obama’s Record on the Nation’s Debt

The Wall Street Journal: “This Year, The Buffett Rule Would Increase Federal Revenues By All Of $1.1 Billion. That's Less Than One-Tenth Of One Percent Of The $1.2 Trillion Budget Deficit Mr. Obama Is Scheduled To Run This Year.” (Editorial, “The Bottom 0.1%,” The Wall Street Journal, 3/21/12)

Los Angeles Times: “The Proposed Buffett Rule Is More A Political Statement Than A Deficit-Reduction Tool, Given How Little Money It Would Raise.” (Editorial, “The ‘Buffett Rule,’ And More,” Los Angeles Times, 9/20/11)

Politico: “By Contrast, According To A CBO Report, Obama’s Policies Will Result in $6.4 Trillion In Deficits In The Next Ten Years.” (David Rogers, “CBO: Exploding Debt Under Obama,” Politico, 3/16/12)

Politifact: “Obama Is The Undisputed Debt King Of The Last Five Presidents.” (“Nancy Pelosi Posts Questionable Chart On Debt Accumulation By Barack Obama, Predecessors,” Politifact, 5/19/11)