U.S. Senator Dick Blumenthal’s statement after voting for a Senate deal on the fiscal cliff:
“I’m frustrated and unhappy that we couldn’t reach a better solution much sooner, but this deal is better than no deal at all. Avoiding the fiscal cliff protects the nation’s middle class–including 1.4 million families in Connecticut–from steep severely damaging tax hikes, and preserves unemployment insurance for 43,000 laid-off workers in Connecticut. These points and others are vital to continued economic growth and job creation–in short, saving the economy from slipping back into recession. Also important, it avoids for now, slashing arbitrary spending cuts that would particularly damage defense spending, endangering our national security, and Connecticut’s defense industry jobs.
“We do need to address our national debt with smart spending cuts and revenue increases by closing loopholes and special breaks, and reducing health care costs–a balanced approach in a larger agreement early in the new year. We cannot balance the budget on the backs of our seniors and most vulnerable. We need to make a New Year’s resolution to change the way business gets done in Washington.”
“I reluctantly supported it because it sets in stone lower tax rates for roughly 99 percent of American taxpayers,” said Sen. Orrin Hatch, R-Utah. “With millions of Americans watching Washington with anger, frustration and anxiety that their taxes will skyrocket, this is the best course of action we can take to protect as many people as possible from massive tax hikes.”
Not really a ‘massive’ tax hike. People making $60K/yr would see about a $38.00/week and people making $100K would see $88/week increases. That is about what your taxes should be. Bush gave a temporary tax break years ago. The idea was we were supposed to save or use that money to pay down debt but I guess people did not do that for one reason or another. I am worried about our unsustainable debt and spending. Sooner or later that is going to bite us in the backside.
*** Rich gets a U.S. Senate freshman’s pass on this one, with hopes he can rally enough support and political power on continued positive work for CT and the USA. *** GO, RICHIE RICH! ***