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IPFS News Link • Obama Administration

Obama's Secret Plan to Drastically Reduce the Deficit and Save the Economy

04-15-2010 • Businessinsider.com/

Some 60% of this incredible shrinkage will be achieved through tax hikes, and 40% via spending cuts, which together will generate the needed $938 billion in savings. Here is the breakdown: $331 billion-"bank responsibility fees" designed to address "too big to fail" $252 billion-expiring Bush tax cuts for couples earning over $250,000 a year $250 billion-scaling back the wars in Iran and Afghanistan $105 billion-already announced spending freezes

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