Last week, Democratic Congressman Barney Frank told the editorial board of the Standard-Times newspaper in New Bedford, Mass., that he supports an expansion of entitlement programs. Where will the money come from? Some of it may come from cutting the military’s budget by 25 percent, the rest will come from higher taxes.
Here’s an excerpt and a link:
“After the November election, Democrats will push for a second economic stimulus package that includes money for the states' stalled infrastructure projects, along with help paying for healthcare expenses, food stamps and extended unemployment benefits, U.S. Rep. Barney Frank said Thursday.
In a meeting with the editorial board of The Standard-Times, Rep. Frank, D-Mass., also called for a 25 percent cut in military spending, saying the Pentagon has to start choosing from its many weapons programs, and that upper-income taxpayers are going to see an increase in what they are asked to pay…. Unemployment insurance benefits won't increase, he said, but the period of collecting them will, and eligibility requirements might be relaxed.
And, ultimately, there will be tax increases on the upper brackets. "We'll have to raise taxes ultimately. Not now, but eventually," he said.
See the whole story at:
http://www.southcoasttoday.com/apps/pbcs.dll/article?AID=/20081024/NEWS/810240332/-1/NEWS10
The Democrats control both the House and Senate, and Frank is far from alone in his views. With Obama in the White House there will be no veto power to stand against them.