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Obama: Job of debt reduction nearly done
Washington Post ^ | Monday, February 11, 11:29 AM | By Lori Montgomery,

Posted on 02/11/2013 10:28:02 AM PST by Lazamataz

One thing you won’t hear when President Obama delivers his State of the Union address Tuesday: An ambitious new plan to rein in the debt.

In recent days, the White House has pressed the message that, if policymakers can agree on a strategy for replacing across-the-board spending cuts set to hit next month, the president will pretty much have achieved his debt-reduction goals.

“Over the last few years, Democrats and Republicans have come together and cut our deficit [over the next decade] by more than $2.5 trillion through a balanced mix of spending cuts and higher tax rates for the wealthiest Americans. That’s more than halfway towards the $4 trillion in deficit reduction that economists and elected officials from both parties say we need to stabilize our debt,” Obama said during his weekend radio address.

By the administration’s math, Washington needs to enact only another $1.5 trillion in 10-year savings to hit the $4 trillion target, White House economic adviser Jason Furman told reporters last week. At $1.2 trillion, the automatic cuts, known as the sequester, quite nearly fit the bill.

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Front Page News; Government; News/Current Events
KEYWORDS: debt; deficit; sequestration; spending
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As a friend put it:

WTF? It hasn't STARTED you asshat! This "man" is smoking crack in the White House! Seriously, what kind of idiot would say this? Its like saying: hey, eat dirt, its yummy! Or watching your 6 year old say they didn't eat the cookies, with chocolate chips stuck to their cheeks.... Good LORD. This emperor has no clothes.

.... but I could only respond:

I know, I know, this sounds utterly insane.

But in a way, OTrauma is right. If you default on all your debts, your debt is reduced. And we are halfway to complete default.

1 posted on 02/11/2013 10:28:09 AM PST by Lazamataz
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To: Lazamataz

The ChiComs won’t like us defaulting. But I’m sure they’d take all our Air Craft Carriers and Boomers in lieu of cash.


2 posted on 02/11/2013 10:33:51 AM PST by massgopguy (I owe everything to George Bailey)
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To: Lazamataz

Socialist economics is now King Obama’s updated New-Math.


3 posted on 02/11/2013 10:35:54 AM PST by Iron Munro (I miss America, don't you?)
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To: Lazamataz

It’s a MATH PROBLEM. They all have it.

1 + 1 = 17.


4 posted on 02/11/2013 10:36:35 AM PST by carriage_hill (AR-10s & AR-15s Are The 21st Century's Muskets. Free Men Need Not Ask Permission!)
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To: Lazamataz

What planet is Obama on???


5 posted on 02/11/2013 10:36:35 AM PST by GeronL (http://asspos.blogspot.com)
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To: Lazamataz

Can’t govern? In over your head?

Simply change the narrative. Use the willing sycophants in the media to carry your water for you.

Lather, rinse, repeat.


6 posted on 02/11/2013 10:37:16 AM PST by headstamp 2 (What would Scooby do?)
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To: Lazamataz

All this 10-year things are BOGUS


7 posted on 02/11/2013 10:40:41 AM PST by GeronL (http://asspos.blogspot.com)
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To: Lazamataz

Didn’t he mean, “The debt of job reduction is almost done.”


8 posted on 02/11/2013 10:43:23 AM PST by Noumenon (One individual with courage, determination and a rifle can change the course of history.)
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To: Lazamataz
I can't vouch for the accuracy of the following, but it is from a "reputable" blog:

In the real world, in fact, many of their “cuts” cut nothing at all. The Transportation Department got credit for “cutting” a $280 million tunnel that had been canceled six months earlier. It also “cut” a $375,000 road project that had been created by a legislative typo, on a road that did not exist....
Warren Meyer, Congressional Ethics, February 10, 2013.

9 posted on 02/11/2013 10:47:57 AM PST by 1rudeboy
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To: Lazamataz

Taxes are set by statute and regulation, so last years. “Budget cuts” are in the annual budget and have a live of one year, or until the next budget.

Promises of tax now, cut later have NEVER been kept and anyone agreeing to such a plan is complicit in the deception.

HW Bush’s tax hike was to be balanced with a spending cut “later” that never happened.


10 posted on 02/11/2013 10:49:59 AM PST by DBrow
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, Ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


11 posted on 02/11/2013 10:51:15 AM PST by Nachum (The Obama "List" at www.nachumlist.com)
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To: Lazamataz

Wow - that was fast!

Looks like the right man was elected.

(/s - do I really need it?)


12 posted on 02/11/2013 10:51:31 AM PST by jonno (Having an opinion is not the same as having the answer...)
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To: massgopguy
The ChiComs won’t like us defaulting

Except they'll be too busy running from the pitchfork mobs to write us any nasty letters...


13 posted on 02/11/2013 10:51:55 AM PST by Buckeye McFrog
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To: Lazamataz

Just a perfect example of:
Figures don’t lie but liars figure.


14 posted on 02/11/2013 10:57:49 AM PST by TexasRedeye (Eschew obfuscation.)
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To: DBrow

Deception is standard procedure.


15 posted on 02/11/2013 10:58:07 AM PST by Ray76 (Do you reject Obama? And all his works? And all his empty promises?)
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To: Lazamataz

“Obama: Job of debt reduction nearly done”

Wow.....To think I missed it. Well that “Austerity” stuff wasn’t really that bad after all. I can’t understand why the Greeks and Spaniards are whining so much about it.


16 posted on 02/11/2013 11:11:30 AM PST by RFEngineer
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To: Lazamataz

No, no, no. He was mis-quoted. What he really said:

“Job of economic destruction nearly done.”


17 posted on 02/11/2013 11:14:44 AM PST by 43north (BHO: 50% black, 50% white, 100% RED)
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To: GeronL; sickoflibs
All this 10-year things are BOGUS

the soviet style '10 yr plans' and fake trust funds allow a mere $4 Trillion *cut* over a decade, to cancel out a Trillion/yr in new debt ???

i picked the wrong lifetime to give up qualudes...

18 posted on 02/11/2013 11:19:36 AM PST by Gilbo_3 (Gov is not reason; not eloquent; its force.Like fire,a dangerous servant & master. George Washington)
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To: 1rudeboy

I believe they are also considering ending the Iraq and Afganistan wars as cuts even though the endings were already done.


19 posted on 02/11/2013 11:28:11 AM PST by Rusty0604
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To: Lazamataz
Obama: Job of debt reduction nearly done

IOW, he has taken a play from the Clinton book of governing and, essentially, is saying "I have reduced all the debt I intended to reduce"{.


(For those who may not recall, Clinton said "I kept all the promises I intended to keep".)

20 posted on 02/11/2013 11:41:58 AM PST by DustyMoment (Congress - another name for anti-American criminals!!)
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