Posted on 01/20/2010 5:47:04 AM PST by SJackson
WASHINGTON — President Obama plans to create a bipartisan commission to make recommendations to Congress on ways to reduce the federal budget deficit under an agreement reached Tuesday night at the White House.
The agreement is tentative, pending consultations between Congressional leaders and some House and Senate lawmakers. Some details remained in flux.
But according to people familiar with the deal, in principle it commits Democrats to work with Republicans to do what they have not been able to do for a decade through the regular process: compromise on spending cuts and tax increases to produce reductions in annual deficits that, under George W. Bush and now Mr. Obama, have reached the highest levels since World War II.
In the short run, such a commission would buy time for the White House and Congress, putting off decisions until after this year’s midterm elections while the commission deliberates. Democrats and most economists argue that this year is not the right time to make big cuts in spending or raise taxes while the economy remains at risk of falling back into recession.
(Excerpt) Read more at nytimes.com ...
It's for show only. To show people that yeah, we are just as concerned about the deficit as you are and we are doing something about it. It's no different from the "jobs summit" or any of the other summits Obama's held. A bunch of people will sit and chat at a table in front of cameras with bottled water in front of them, they will chat for a whole day, maybe several, and then come out and tell the media "ok, we have solved the deficit problem". And when the left talks of controlling deficits, be alarmed. Very alarmed. Look no further than Patterson - $1B in new taxes !
... under George W. Bush and now Mr. Obama, have reached the highest levels since World War II.
Regardless under whose watch the spending occurred, the whole financial crisis was engineered and triggered by the Democrats and their leftist cohorts. Under Obama they created a shock and awe deficit leaping into the trillions for the first time.
Agreed. I see all the good conservatives on FREEP opposing this crap, but until Tuesday I wasn’t sure just how many people out there were truly fed up. Massachusetts of all places! Now I know we have support. :)
“...Shelley’s ladies-in-waiting”.
Haha : )
Good one !, RummyChick : )
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.