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Obama: I Promise To Cut The Deficit In Half By 2013
The Business Insider ^ | 6-27-2010 | Henry Blodget

Posted on 06/27/2010 5:23:26 PM PDT by blam

Obama: I Promise To Cut The Deficit In Half By 2013

Henry Blodget
Jun. 27, 2010, 8:10 PM

According to the AP, President Obama just promised to cut the US deficit in half as a percentage of GDP by 2013.

That would certainly be a start. So can we get Congress to commit to that?

If so, we'd be a lot more supportive of additional near-term stimulus spending (which, otherwise, we think will just become long-term structural overspending).

Obama also said a lot of other stuff:

By DARLENE SUPERVILLE and TOM RAUM, Associated Press Writers

TORONTO (AP) — President Barack Obama on Sunday welcomed an international commitment for rich countries to slash their deficits in half by 2013, despite his earlier warnings against halting stimulus spending too abruptly.

"We can't all rush to the exits at the same time," Obama told a news conference at the conclusion of a summit of the 20 major industrial and developing economies.

Obama also issued a warning to North Korea, saying its alleged sinking of a South Korean warship was "belligerent behavior that is unacceptable" to the international community.

"It is absolutely critical for the international community to rally behind" South Korean President Lee Myung-bak, Obama said.

Obama spoke after G-20 leaders issued a statement calling for "advanced" nations to cut their budget deficits — as a proportion of gross domestic product growth — in half by 2013, and to put their annual deficits on either a lower or more stable basis by 2016.

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


TOPICS: News/Current Events
KEYWORDS: 2013; budget; debt; deficit; economy; g20; obama; presflustercluck; prezflustercluck
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1 posted on 06/27/2010 5:23:34 PM PDT by blam
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To: blam

I call his bluff and raise him another Joe Wilson.....


2 posted on 06/27/2010 5:24:34 PM PDT by cranked
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To: blam

http://www.johnspeedie.com/healy/laughs.wav


3 posted on 06/27/2010 5:24:46 PM PDT by BenLurkin
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To: blam

...but first, I have to buy off the electorate with a few trillion more.


4 posted on 06/27/2010 5:25:20 PM PDT by dr_who
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To: blam

O plans to cut our deficit by raising taxes to 100%.


5 posted on 06/27/2010 5:25:53 PM PDT by Argus
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To: blam

hey Odumbo, the AMERICAN CITIZEN promises to help cut the deficit STARTING THIS NOVEMBER!


6 posted on 06/27/2010 5:26:07 PM PDT by Doogle (USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated)
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To: blam

No more promises from this liar. Cut it first, then we’ll talk.


7 posted on 06/27/2010 5:26:24 PM PDT by ThePatriotsFlag (http://www.thepatriotsflag.com - The Patriot's Flag)
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To: Argus

beat me to it...


8 posted on 06/27/2010 5:27:06 PM PDT by MarMema
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To: blam
Kenyan is getting better and grander in lying
9 posted on 06/27/2010 5:27:33 PM PDT by Leo Carpathian (fffffFRrrreeeeepppeeee-ssed!)
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To: blam

He also said he plans to control the tides too


10 posted on 06/27/2010 5:28:05 PM PDT by clamper1797 (Would you hold my hand ... If I saw you in heaven ... to my angel in heaven)
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To: blam

HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA...breath...HA HA HA HA HA HA HA HA HA, oh what’s the point...


11 posted on 06/27/2010 5:28:07 PM PDT by Amityschild (Stop Spending!)
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To: blam

He also said he plans to command the tides too


12 posted on 06/27/2010 5:28:25 PM PDT by clamper1797 (Would you hold my hand ... If I saw you in heaven ... to my angel in heaven)
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To: blam
I Promise To Cut The Deficit In Half By 2013

Go for it you amateur.

Photobucket

13 posted on 06/27/2010 5:28:28 PM PDT by EGPWS (Trust in God, question everyone else)
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To: Argus

Exactly, that won’t happen via Spending Cuts, we all, rich and middle and poor, will be taxed heavily and regulated into poverty.


14 posted on 06/27/2010 5:28:35 PM PDT by padre35 (You shall not ignore the laws of God, the Market, the Jungle, and Reciprocity Rm10.10)
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To: blam
Hey Mr. President, you got a deal! Of course, that should be the deficit when you took over (part of the Democrat majority in 2006). Because the budget deficit for 2007 - the last GOP/Bush budget - was $152 billion.

So Mr. President, I'm curious to hear how you're going to get the budget deficit - you know, your $1.6 TRILLION deficit - down to $76 billion. VERY curious, Mr. President!

15 posted on 06/27/2010 5:28:38 PM PDT by PugetSoundSoldier (Indignation over the Sting of Truth is the defense of the indefensible)
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To: blam

He’ll get the deficit cut alright—after the Republicans take over Congress in January 2011.


16 posted on 06/27/2010 5:29:08 PM PDT by RayChuang88 (FairTax: America's economic cure)
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To: cranked

anyone else think that pic of him up on Drudge right now is down right terrifying


17 posted on 06/27/2010 5:29:39 PM PDT by eak3
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To: cranked

He will tax you to DEATH.


18 posted on 06/27/2010 5:30:04 PM PDT by nmh (Intelligent people recognize Intelligent Design (God).)
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To: blam
President Barack Obama on Sunday welcomed an international commitment for rich countries to slash their deficits in half by 2013, despite his earlier warnings against halting stimulus spending too abruptly.

Future management book: "Profiles in Leadership Failures: Barack Obama"

19 posted on 06/27/2010 5:30:16 PM PDT by COBOL2Java (Obama is the least qualified guy in whatever room he walks into.)
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To: blam

He can promise anything for the years when he won’t be around to answer for what happens.


20 posted on 06/27/2010 5:30:22 PM PDT by Nepeta
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