Obama's Fear of Spending Cuts

National Review writes, According to President Obama, the $62 billion in new taxes this year imposed as part of the fiscal-cliff deal will have no effect on economic growth. In fact, the president believes that he can safely impose another $58 billion in tax increases to replace spending cuts from the upcoming sequester. And, of course, Obamacare’s almost $42 billion in new taxes (and regulations) in 2013 don’t have any impact on hiring or investment. But, the president says, the $44 billion in cuts this year resulting from the sequester will throw the U.S. economy back into recession. The president seems to…

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