Read my lips: (No) new taxes!

That would be the VAT tax....a hidden tax on everything:

Indeed, to stem the tide of red ink, there is a growing push to levy a new "value-added tax" -- commonly referred to as a VAT -- on all American taxpayers.

When Mr. Obama took office, the deficit stood at $1.2 trillion -- then a record. But he was determined to pursue his agenda, so he and Congress doubled down and exploded the deficit by passing a $787 billion stimulus and a $410 billion spending increase. Then Mr. Obama proposed, and Congress adopted, a budget that will increase the national debt by $7.5 trillion over 10 years.

As a result, this year's deficit will likely hit $2 trillion, almostdouble what it was when Mr. Obama took office. And deficits from 2010 through 2019 will average just under $1 trillion.