Skip to comments.Official: Obama plans to slash deficit in half (SHOULD THIS BE UNDER POLITICAL HUMOR?)
Posted on 02/22/2009 12:00:13 PM PST by jessduntno
Official: Obama plans to slash deficit in half
President Barack Obama has committed hundreds of billions of dollars to help revive the economy and is working on a plan to cut the federal deficit in half by the end of his first term.
Obama will touch on his efforts to restore fiscal discipline at a White House fiscal policy summit on Monday and in an address to Congress on Tuesday. On Thursday he plans to send at least a summary of his first budget request to Capitol Hill. The bottom line, said an administration official Saturday, is to halve the federal deficit to $533 billion by the time his first term ends in 2013.
"We can't generate sustained growth without getting our deficits under control," Obama said in his weekly radio and Internet address that seemed to preview his intentions. He said his budget will be "sober in its assessments, honest in its accounting, and lays out in detail my strategy for investing in what we need, cutting what we don't, and restoring fiscal discipline." Republicans were not convinced. They said Obama's plan would hurt small businesses, including many filing taxes as individuals and possibly facing higher taxes under his plan. "I don't think raising taxes is a great idea," Senate Republican leader Mitch McConnell of Kentucky told CNN's "State of the Union" on Sunday. "And when our good friends on the other side of the aisle say raising the taxes on the wealthy, what they're really talking about is small business."
(Excerpt) Read more at news.aol.com ...
Well, he had to double it before he could slash it in half.
And, no, Liz Sidotti lacks all sense of humor.
He can do it, you know, just by printing more money.
Yes, definitely political humor.
"Say you want a revolution..."
This is so nutty I’m having visions of woody allen’s banana republic wherein the fearless leader announces that everyone will change their underwear every 10 minutes and they’ll have to wear it on the outside so we can check.
That part cannot be more than 3 months away right now.
This is just Alinsky-type propaganda to pave the way for raising taxes and government gaining that much more control of our lives.
If he succeeds in getting his ideas put into action, he will make the Peanut Era look like Utopia.
Yeah, sure. Right after he walks across the Potomac
By taxing the every-livin’ day-lights out of anyone with $$$, OR by seizing investments and safe-deposit box contents in the name of crises? Just askin’.
Obummer must have droped his pants and started blowing smoke agan.
Of course the point being that it sounds good. The MSM will naturally laud the effort and eventually claim that it “is working.” Facts will be ignored as usual.
“Obummer must have droped his pants and started blowing smoke agan.”
Smoke? Don’t recognize the name, but the face is familiar...
Military - gone
NASA - gone
Border enforcement - gone
Elections - gone
67 MILLION OBAMA VOTERS ARE COUNTING ON YOU TO PAY THEIR BILLS
Yep, good one. And your IRA too, absorbed into the SocSec nightmare but counted as income, not a liability. Socialized Health Care and the “right” to die will take care of that actuarial time bomb. Budget green is people!
Clinton 1993, pass stimulus then taxes
Ain't gonna happen, without a war anyway
Yes because its gonna be damn funny when Obama touts a budget cut and tax hikes and then throws Congress under the bus when they refuse to do such!
is working on a plan to cut the federal deficit in half by the end of his first term.
He just added a trillion dollars to our childrens debt. The deficit is what the government spends over what it said itwould in a given period of time. Read additional debt. So all he is saying is he is going to add less debt to our children in 4 years then planned Not much benefit with his trillion dollars he just did add.
Sure, first he’ll quintuple it, then ‘slash’ it in half, leaving it 2.5 times as big as under Bush.
no wonder Jimmy Carter is smiling, he will not be the worst anymore...
One man, one vote
Has got to go
We can survive wars, hurricanes, tornados, pestilence, famine,....
....but....the US cannot survive welfare deadbeats who have the vote.
"The only part of government really reduced under Clinton has been the civilian work force. Yet even here, to be more accurate, it's not government in general that has gotten smaller, but rather Defense that has been cut, thereby masking Clinton's overall bigger-government appetite.
"* From 1993 through 1999 (estimates), Defense discretionary spending has fallen from $292.4 billion to $265.1 billion -- a 9.3 percent decrease.
"* The Defense accounts absorbed 67 percent (222,800) of the 331,000 FTE reductions in federal civilian employment over the same time period."
So where's Obama going to get the money to reduce the deficit? Taxes on "the rich" and big reductions in defense.
"The President shall be Commander in Chief of the Army and Navy of the United States, and of the Militia of the several States, when called into the actual Service of the United States"
The Constitution is not a suicide pact. Americans are not recruited to be martyrs. (Maybe recruits from those mysterious extra seven or eight states in Obama's America crave martyrdom?)
If in addition to higher taxes on "the rich" President Obama slashes the defense budget to get the savings then screw the President.
Our military have and are developing weapons and have manpower needs that they deem necessary to destroy our enemies now and to be prepared for any future enemy. That is their job.
During the campaign Obama made clear his intention to deny our military. That is treason in this era of war as far as the eye can see.
Sure he’ll cut the deficit in half. He’ll need to install cooling towers at the mint to keep the printing presses from melting, but it’s just a matter of engineering.
This means....TAXES! I would guess lots of hidden taxes so he can claim net CUTs in middles class taxes. The other point to note: His massive spending of trillions in bailouts and stimulus are OFF BUDGET! So he doesnt include that in total of the 50%
The Shill Left Wing Media continues its lies.
The next story is about an “undocumented immigrant” not an illegal.
Goebbels would be proud of the current MSM.
Or he cooks the books.
Congress controls the budget so how is Obama going to do this?
Are you sure this didn’t come from Onion.com?
You just can't make this stuff up. Like an alcoholic preaching tee totaling.
ZERO just added 3 trillion to the debt!
What a clown!!!
Easily done; just raise taxes on those filthy rich folks. You know, the ones who make $150K or more, a year. That ought to do it./s
OMG, what a bunch of forked tongues they have.
New Obama nominee for Commerce Secretary will explain how he will cut the budget in half: