Official: Obama plans to slash deficit in half

Associated Press ^ | February 22, 2009 | Liz Sidoti

[dbz77]

Official: Obama plans to slash deficit in half By LIZ SIDOTI, Associated Press Writer Liz Sidoti, Associated Press Writer – 2 hrs 5 mins ago

WASHINGTON – 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. He inherited a deficit of about $1.3 trillion from former President George W. Bush.

The official, speaking on condition of anonymity because the president has not yet released his budget for the fiscal year 2010, which begins Oct. 1, said the deficit will be shrunk by scaling back Iraq war spending, ending the temporary tax breaks enacted by the Bush administration for those making $250,000 or more a year, and streamlining government.

[dbz77]

So far, the stimulus package has had an opposite effect.

[IMissPresidentReagan]

I plan to win the Powerball....we’ll see which happens first.

[Army Air Corps]

Next come the tax increases that we all knew were coming.

[deadrock]

And how is Oslama going to convince the commie Rats in Congress this? Pelosi and Reid will not stand for it.

[kittymyrib]

LOL...Breaking News: BO WILL PROVIDE FREE BREAD AND CIRCUSES FOR EVERYONE

In the not-too-distant future, it will become evident even to the most ignorant members of the msm that this egomaniac has lost touch with reality.

[BornToBeAmerican]

O will sell out to the highest bidder, slash our net worth and use the proceeds to halve our debt.

NO DEAL!!!!!!

[goodnesswins]

I swear....these are just sent out from the WHITEHOUSE as HEADLINES....that is ALL the peons read/hear.....HEADLINES!

[Dead Dog]

In the immortal words of Dukakis “We’re going to tax the sh!t out of them...”

[Diogenesis]

How?

NASA ................................................................... $11 billion per year
War on Terror (through protection of President Bush) ............ $10 billion per month
Entire US Budget Deficit in FY 2007 ...................................... $162 billion.

Auto bailout tab ............................................................ $130 billion
Bank "bailout" ................................................. $400 billion, then $600 billion or whatever

Porksimus Maximus ......................................... $ 980 billion with compound interest and inflation ignored

Lawrence Summers and Tim Geithner (payoffs to male friends, banks, Congressmen,
.....resultant requisite whores and jets, and googleplex of secret tax shelters) ...... $2.2 trillion, then $7.5 trillion, then ...

Investigating, arraigning, prosecuting and incarcerating the Senators and Congressmen responsible ........... PRICELESS

[The Sons of Liberty]

LOL...Breaking News: BO WILL PROVIDE FREE BREAD AND CIRCUSES FOR EVERYONE

I want to eat cake!

[goodnesswins]

Well....I heard he was going to raise taxes on businesses and the "wealthy"....and let the Bush tax cuts expire....MARKET WILL BE DOWN ON Monday!

[Colonel_Flagg]

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.

That'll be a short speech. One with no words, if accuracy is important to anyone.

[Jeff Chandler]

Moses parting the red ink?

[Gaffer]

I certainly hope so...something has got to shock this country back to its senses.....

[alecqss]

I plan to win the Powerball....we’ll see which happens first.

;-) Obama's plans come first so, if you win, you'll never see the money.

[Texas Fossil]

The only way the Kenyan can lower the deficit is to confiscate citizens assets. He may want to do that, but actions have consequences.

If he wants a quick end to his administration that would accomplish it.

[Sacajaweau]

Sure looks like he’s keeping two sets of books...

[Reagan Man]

The liberal agenda... increase taxes and cut military spending.

Time for more trampling on the Constitution.

[omega4179]

Monday: I hereby sign this absolutely critical porkulus package
Saturday: I need to cut the deficict in half in 3 years.