Obama sets goal to cut $4 trillion from deficit (Developing): congressional sources

Reuters ^ | Reuters

[sunmars]

(Reuters) - President Barack Obama will set a goal of reducing the U.S. deficit by $4 trillion in the next 12 years or less in a speech Wednesday, a congressional source said.

His plan would curb the U.S. deficit to 2.5 percent of GDP in 2015, and by 2 percent toward the end of the decade, the source said.

[sunmars]

Here come the unicorns and fluffy bunnies.

[refermech]

What, 4 trillion in new “ fees “ ??

[Steely Tom]

I’ll gladly pay you Tuesday for a hamburger today.

[BenLurkin]

Then why $800 billion Porkulus?

Actions speak louder than words.

[sunmars]

and you can guess where he wants that 4 trillion from....your wallet.

[Concho]

Damn right, its going to come out of our pockets by increased taxes or seizure of your bank accounts. Better be for yanking your worth and putting it offshore where he cant touch it.

[bray]

Has Bhoener surrendered yet?

Pray for America

[paulycy]

Marxists lie about other peoples' money.

[IamConservative]

More bull squeeze. Obama cannot promise anything beyond January 2013.

[sunmars]

precisely, how much further can you kick it down the road Obama. This speech is gonna be a dumpload truck full of hosecrap tonight by the looks of it.

[sunmars]

After meeting with Pres Obama, GOP leaders say no way they’ll agree to tax hikes as part of his deficit reduction program.

In other words, Bambi’s speech tonight is full of tax hikes.

[metmom]

He shouldn’t have added it in the first place.

[driftdiver]

There’s something like $7 T in 401Ks and IRAs. They have been trying to figure out a way to get that money since he took office.

[4buttons]

-by raising taxes.

[rawhide]

Seems to me that obamma is wanting to hamstrung future presidents, while continuing to spend all he wants while he president or at least until after he reelected next year. It is easy to reduce the deficit when you put the onus onto future presidents and little on yourself. If obamma was serious, let him start with next year's budget.

[GoCards]

yes and butterflies coming out of my ass.....

[sthguard]

Here’s a simpler plan: make liberalism a capital offense.

[mikey_hates_everything]

How can that possibly ever happen with all that we have witnessed over just $38 billion in supposed cuts?

[4buttons]

“There’s something like $7 T in 401Ks and IRAs. They have been trying to figure out a way to get that money since he took office.”

Like this:

http://www.google.com/custom?hl=en&newwindow=1&safe=off&sa=X&ei=0c-lTYKYMMOWtweUtKTCAg&ved=0CAwQBSgA&q=new+school+economics+401k&spell=1

[MNDude]

He’s full of BS, but in any case, he’s basically telling the American people “You can see that the republicans don’t intend to cut more than $14 billion in taxes, so I’ll have to take charge”