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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
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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To: 1rudeboy
I can't vouch for the accuracy of the following, but it is from a "reputable" blog:

Sadly, that's true. That has been government accounting for decades. Another example is this: Suppose the govt. planned to spend $100 billion on a new weapons system but, in the end, only spent $75 billion? They will tell the taxpayers that they cut spending by 25%!

21 posted on 02/11/2013 11:46:11 AM PST by DustyMoment (Congress - another name for anti-American criminals!!)
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To: Lazamataz
“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.

The most disgusting part—which is why the SOTU speech is worthless—is that Obama will say pretty much the same on Tuesday night and the lapdog Republicans will rise with their RAT betters and give acclamation to that joke of an assertion.

22 posted on 02/11/2013 11:48:27 AM PST by Dahoser (Separation of church and state? No, we need separation of media and state.)
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To: Lazamataz

I don’t know about our air craft carriers (since the ChiComs are now building their own brand new ones anyway).... but maybe they’ll take them, yes. The CHiComs will probably first take all our natural resources in repayment of our huge debt to them (you know, the resources Obama won’t let Americans develop or use).

And some additional properties to boot.


23 posted on 02/11/2013 11:54:55 AM PST by faithhopecharity
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To: Lazamataz

Sometimes I think he’s evil, and sometimes I think he’s nuts. I know it could be both. Today I’m leaning toward Bidenshi! crazy.


24 posted on 02/11/2013 12:00:21 PM PST by St_Thomas_Aquinas
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To: St_Thomas_Aquinas

He reads his talking points.

The really scary people write them.


25 posted on 02/11/2013 12:09:04 PM PST by cgbg (HLM--"Democracy is the theory that people know what they want, and deserve to get it good and hard.")
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To: Lazamataz





26 posted on 02/11/2013 12:18:40 PM PST by Cheerio (Barry Hussein Soetoro-0bama=The Complete Destruction of American Capitalism)
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To: cgbg

“He reads his talking points.

The really scary people write them.”

The scariest part of all is half on the American people believe this!


27 posted on 02/11/2013 12:23:19 PM PST by martinidon
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To: Lazamataz

28 posted on 02/11/2013 12:26:13 PM PST by dead (I've got my eye out for Mullah Omar.)
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To: St_Thomas_Aquinas
Not crazy...evil.

Obama has adopted the Krugman and NYT strategy of pretending that the debt/deficit are really all right. This way they don't have to go along with cuts.

So does it matter that Obama and Dems constantly railed against Bush for his deficits? Apparently not.

29 posted on 02/11/2013 12:45:09 PM PST by what's up
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To: Lazamataz

Every time I read crap like this about our POS POTUS I thin about how I would love to thank every a$$hat that voted for him, stayed home because they couldn’t vote for a Mormon and last but least those intrepid souls that voted the absolute loser option, the 3rd party. Thanks a pant load to each and everyone of you idiots!!!!!


30 posted on 02/11/2013 1:12:23 PM PST by rhubarbk
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To: rhubarbk

thin = think


31 posted on 02/11/2013 1:13:59 PM PST by rhubarbk
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To: Lazamataz
The drugs in D.C. are really kicking in! Hallucinogenics abound!
32 posted on 02/11/2013 1:27:33 PM PST by Bushbacker1 (Molon Labe! (Oathkeeper))
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To: Gilbo_3; GeronL
RE :”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 ???”

They have to pass a bill NOW to cut (retirement entitlement) benefits in 10 years or things will be so bad in 10 years that they will have to cut benefits (in 10 years)???

OK, sometimes its not the media, some times the GOP just argues stupid stuff.

The only reason to pass a bill now to cut benies in 10 years is
1) Fear that voters in 10 years wont go for it then (10 years) either so pass it now.
2) To take credit for deficit reduction without having to p...s voters off now , all gain no pain, cake now for me, slimfast later for you
3) The claim that some workers will be better prepared to work till 70 if they they are warned 15 years in advance.

#3 is fantasy too. Who bases their current retirements savings on future SS and medicare? I dont see the poor Korean gal at Haircutter who cuts my hair standing all day when she is 70. Or grocery checkers...ETC

33 posted on 02/11/2013 1:49:16 PM PST by sickoflibs (Losing to Dems and Obama is not a principle! Its just losing.)
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To: sickoflibs

These bills, “over 10 years” don’t apply to future sessions of Congress. They only have control of one year at a time and they cannot tell future Congresses what to do


34 posted on 02/11/2013 1:54:54 PM PST by GeronL (http://asspos.blogspot.com)
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To: carriage_hill
To employ the writer Lori Montgomery's academic term:

1 + 1 pretty much = 17

HF

P.S. Truly it is the Washington comPost!

35 posted on 02/12/2013 6:43:03 AM PST by holden (Alter or abolish it yet?)
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