am n am nimity. in taehran tens of thousands tok part in the demonstration. as we told you earlier, it s a big day for the budget. he sends it up to capitol hill. let s take a look at some of the issues here. if you look here, green is revenue. gold is spending. orange is the deficits. here is where we start out here and it s the first few years you want to worry the most about because politics and debate will containing. you see spending is up here. government revenues down there, which means the government will run more red ink. all deficits throughout the presidency pick right there. what is the president cutting here in the president s propose something cuts. but they re all in this slice of the budget. see the darker green right here? 12% of the budget is nondiscretionary security spending. i m sorry, nonsecurity discretionary spending.
it s not at all clear to me that the numbers make any sense. you re looking at raising taxes on everybody in january. and you have can t possibly argue that that s going to have anything but a negative impact on growth and the revenue that growth produces. you seem to be saying that cutting the taxes or allowing the tax cut to continue for people who make over 250,000 a year will pay for itself in new government revenues. it will be one of these things where you lower the rates, but more revenue comes in than otherwise would come in. you believe in that process? you just said so. no, i m arguing this is a spending problem. we ve been spending our way into massive debt. so the taxing didn t bother you, adding to the deficit? i will say if we don t fix this problem of this automatic tax increase, you are going to see further economic problems and less employment, which does nothing to fix our revenue
and you have can t possibly argue that that s going to have anything but a negative impact on growth and the revenue that growth produces. you seem to be saying that cutting the taxes or allowing the tax cut to continue for people who make over 250,000 a year will pay for itself in new government revenues. it will be one of these things where you lower the rates, but more revenue comes in than otherwise would come in. you believe in that process? you just said so. no, i m arguing this is a spending problem. we ve been spending our way into massive debt. so the taxing didn t bother you, adding to the deficit? i will say if we don t fix this problem of this automatic tax increase, you are going to see further economic problems and less employment, which does nothing to fix our revenue problem. here s what the founder of tea party patriot said about michele bachmann got getting a slot on ways and means.
negative impact on growth and the revenue that growth produces. okay, so you believe, you seem to be saying, matt, here, that cutting the taxes or allowing the tax cut to continue for people who make over $250,000 a year is going to pay for itself in new government revenues? in other words, it s going to be one of these things where you lower the rates or keep the rates low, but more revenue comes in than otherwise would come in, you believe in that process? you just said so. i m arguing that this is a spending problem. we ve been spending our way into massive debt. okay. so the taxing doesn t bother you adding to the deficit? i will say that if we don t if we don t fix this problem with this automatic tax increase you re going to see further economic problems and less employment which does nothing to fix our revenue problem. well, here s what the profounder of tea party said about michele bachmann not getting a slot on the ways and
america s credit has always gotten the highest rating. aaa. moody s, one of the top three u.s. rating companies releasing a new report the deal, if passed, could threaten moody s outlook on u.s. credit which would make foreign investors demand higher interest payments to keep buying u.s. debt in the future. how much does the u.s. rely on foreign countries buying our debt? tim gieithner pitched it to buyers in saudi arabia last summer, hillary clinton did the same in china last year. thanks to the tax cut deal, years from now our kids may have to pay more in interest on the money we re borrowing from china and others to finance tax cuts. moody s, quote, the deal will boost economic growth in the next two years but adversely affect the government budget deficit and debt level. keeping the existing tax rates would not provide an itchtous to growth. more, it should have a positive effect on government revenues and reduce payments related to unemployment. the magnitude of this effect will b