Food Assistance vs. Fiscal Cliff Revenue
Earlier, RB put the new revenue from the fiscal cliff deal in perspective here. To summarize, the budget deficit from fiscal year 2011 was $1,089 Billion. The new revenue from higher taxes? An impressive $62 Billion, also known as a rounding error.
Today, Senator Session’s staff put together a graph displaying yearly federal spending on all food assistance. Find the graph below:
With $62 billion in new revenue, we would have been able to cover all federal food assistance in 2007. However, during the past few years federal spending on food assistance has skyrocketed to an estimated $110 billion in 2013. The new revenue from the fiscal cliff deal doesn’t even come close to cover this federal expenditure.
When will people realize that the Democrats’ insistence on raising taxes has absolutely nothing to do with plugging the deficit. It does have everything to do with partisanship and ideology.
It’s the spending, dummy.