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The Buffett Rule Obfuscates the Real Debt Crisis (redstate)

Over the past few weeks, Obama has exhibited the intensity of a Navy SEAL in
his execution of class warfare.  He is trying to convince everyone that those
who earn 17% of Adjusted Gross Income, yet pay 36.7% of federal income taxes
don’t pay anything, while those who pay little or no taxes shoulder the entire
tax burden.  Obama will continue to toss out misinformation throughout the
campaign about all these billionaires that supposedly pay little in taxes.

While he is prosecuting his class jihad, we should remind him of these facts
and figures:

* Obama has accrued more debt in 3 ½ years than Bush did in 8 years – and
Bush was a big spender.  When President Bush was sworn in on January 20, 2001,
the total federal debt stood at $5.728 trillion.  On January 20, 2009, the day
he left office, the debt had increased to $10.629 trillion, a jump of $4.9
trillion.  Just 38 months later, the debt has increased another $4.992
trillion to a grand total of $15.621 trillion (as of April 9)!

* Amazingly, $4.577 trillion, or 91% of Obama’s debt increase comes from ...

redstate