FOXNEWS America Live May 16, 2012
debt crisis. let me give you the timetable if i may. about two weeks after the election american will run out of borrowing power, we'll have to raise the debt ceiling, that is just two weeks after the election. on january the 1st this taxmargeddon hits and that's four things. all tax rates goes up. the taxes on dividends and interests go up. the payroll tax holiday ends, that is a tax increase for everyone. and $1.2 trillion will be sequestered, that means spending taken out of healthcare and the military, that is the so-called taxmageddon, that is the timetable being laid out. that'...
Source: archive.org