Bill Clinton: Obama’s deficit plan ‘confusing,’ slams tax raises

The deficit problem is so bad right now that even you you simply confiscated all of the income of the wealthy with a 100% tax, you wouldn't make up the deficit for more than a few months, the debt would continue to increase, not decrease, and you would lose those rich people you have stolen from making the problem even worse in the future. Even Bill Clinton gets it (kind of). From Yahoo!News: Bill Clinton calls President Obama’s deficit plan ‘confusing,’ slams tax raises

If Barack Obama is going to turn around the nation's economy, he'd better avoid raising taxes, former President Bill Clinton warned this week.

Bill Clinton goes Obama 2009:

 "I personally don't believe we ought to be raising taxes or cutting spending until we get this economy off the ground," Clinton told  the conservative site Newsmax. "If we cut government spending, which I normally would be very inclined to do when the deficit's this big, with interest rates already near zero you can't get the benefits out of it.

...A blog for House Majority Leader Eric Cantor (R-Va.) on Wednesday touted the interview under the headline "Clinton: No Tax Hikes, No New Regulations"

"And look who else is coming out against President Obama's plan," Brian Walsh, National Republican Senatorial Committee Communications Director, wrote in a blast email touting Politico's coverage of the Newsmax interview.

"Former President Bill Clinton says now is not the time to hike taxes: http://is.gd/J2UVz2 #demsindisarray" the Republican National Committee tweeted.

Overall, Clinton told Newsmax that he believes the president's plan is "a little confusing" and hopes Republicans and Democrats can reach a bipartisan deal that begins with payroll tax cuts, which he says yield the biggest returns:

What I would like to say to the president and Speaker [John] Boehner is, O.K., you both have your deal. Go work it out. Meanwhile focus on putting American back to work because it just confused Americans. Americans lost the fact that whatever you feel about this millionaire surcharge, it won't solve the problem.

Fact is, for the first time in our history just entitlement spending by itself is greater than all federal tax revenues combined:

So if entitlement spending isn't cut and cut significantly, forget about erasing the deficit or not increasing the debt as it will be mathematically impossible.