Even as they hammer Democrats for running up record budget deficits, Senate Republicans want to permanently extend tax breaks that would cost more than $4 trillion over the next decade, nearly doubling projected deficits over that period, the Washington Post reported. The $4 trillion cost is more than four times the projected deficit impact of President Obama's health care overhaul and stimulus package combined. Senate Minority Leader Mitch McConnell, R-Ky., offered the standard GOP response that the government is spending too much, not taxing too little. But aides for McConnell have been able to come up with only $300 billion is proposed budget cuts, a "drop in the bucket compared with his $4 trillion-plus plan," the Post noted. As for Americans being taxed too much, a USA Today analysis in May determined that federal, state and local taxes are at their lowest level since the 1950s. A new Gallup poll also found that only 37 percent of Americans support extending all the tax cuts approved during the Bush administration.
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