Posted on 02/22/2009 6:08:59 PM PST by GOPGuide
President Obama will this week make an enormously ambitious and high-risk promise to the American people that he can not only spend the US out of recession but also push ahead with expensive campaign promises while simultaneously slashing the budget deficit.
In a key prime-time address to Congress tomorrow, followed by the outline of his first budget on Thursday, Mr Obama will lay out an agenda to cut the ballooning national deficit in half within four years, while pressing ahead with plans to tackle healthcare, education and climate change.
The pledges come amid a financial crisis that one of Mr Obama's top advisers said could be even worse than the Great Depression, and after his Administration has already outlined plans to line up an extraordinary $3trillion (£2trillion) to stabilise the stricken banking sector and revive the economy. About $2 trillion of that will come from borrowing.
After last October's $700billion rescue package for Wall Street, and Mr Obama's $787billion economic stimulus package that he signed into law last week, many predicted that the President would be forced to shelve much of his domestic agenda. Analysts said that it would be too costly at a time when the national deficit is projected to reach $1.5 trillion this year.
Yet Mr Obama, in his speech tomorrow night - which will have all the trappings of a State of the Union address - will call for even more spending: a big expansion of healthcare coverage, education reform and the development of alternative energy sources.
At the same time, in a White House “fiscal responsibility summit” tomorrow, he will lay out plans to cut back the deficit to $533 billion by 2013.
(Excerpt) Read more at timesonline.co.uk ...
What a jacka**.
Why should he care that it’s irresponsible? He’s a totally inexperieced left wing elitist.
Even if it was cut in half, it would still be twice as big as it was. Mission accomplished.
http://www.freerepublic.com/focus/chat/2136635/posts
“Are you looking for a job?”
Note: This thread is updated on a regular basis.
Defence is going to get drastic cuts.
It could be since Obama has his greasy little claws on it. Would someone tell how you increase spending and cut the deficit? It can't be done.
You got that right. It was their plan all along. Bring our guys home and let the world descend into chaos. I hate our new government.
They’re not going to stop badmouthing the economy until the next election cycle.
See tagline.
Nationalize 401-K’s and IRA’s...and print more money...that’s how you cut the deficit while you spend like crazy.
BTW....WHAT time is his stupid speech? I don’t want it to interfere with “24”
How long are ordinary folks willing to pay taxes to fund Obama’s left-wing agenda of subsidies to non-economic “green” energy scams, people who don’t pay their mortgages, wealth redistribution, welfare to foreign countries, etc etc etc. And now, apparently he wants to increase marginal rates to pay for it to boot.
This is no joke. There is a real-life tax revolt brewing in this country. Obama is playing with fire here. We’ve grown accustomed to the angry left - we might just see the angry silent majority very soon if Obama gets his way. Paging Mr. Santelli....
Every time Obama speaks, my wallet gets lighter..
The end is the same. Bankruptcy and rampant inflation. Carter times ten. And yes, I'm old enough to remember what Jimmy Peanuts did to us.
The rupture of the global economic dam has begun.
His gets fatter. Welcome to the brave new world. A pox on everyone who voted for him.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.