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 ...
If I had photoshop, I would change INGSOC to KENSOC.
There are numerous times where I’m tempted to be sarcastic. This time I’ll skip it. Seriously speaking, what we currently owe, we can’t even really pay the interest on, not even counting the “healthcare reform,” and what that will entail. Take a gander at the wonderful marker-ticker.org. Karl can express it far better than I, with numbers that are accurate. At this point, the only way he could even get in the neighborhood of close would necessitate total cuts of things like social security/medicaid/medicare. Not just some cuts, total removal of same. No wizard of finance here; I just know enough to recognize that Mr. Denninger said it all: the math just is. If I had my tinfoil hat nearby, I could hypothesize some, but I think it’s downstairs.
2013?
That assumes he wins a 2nd term.
How ‘ya going to do that, Obambi? Defund the military?
The man is a complete f£€{tard.
And, that is if he cuts anything out of the budget at all. (Channeling the O) "Hey, we don't really need the defense dept. do we?"
May we also add that this jerk has never worked a day in his life!!!!!
The best way to do that is to remove oneself, and other like minded individuals, from office in 2010.
Did he first say, "Let me be clear..?" His most barefaced lies and misdirections start this way. For example, "Let me be clear, if you like the insurance you have, you will be able to keep it."
Since his goal is to destroy the US as we know it, we should thank our lucky stars that he's only an amateur.
He looks "spaced out". Perhaps the drugs he did in the 80s haven't fully worn off yet.
I recall some statement(s) by The O that he would not raise taxes even “one dime” on the middle class.
So, the weathy better buck up and get their checkbooks out.
Interesting considering the fact that the next Presidential election is 2012. Guess many will buy his crap once again.
simple.
keep spending like a crazed mink, but reverse Bush tax cuts so do a huge tax increase in 2011, plus Cap&Tax, plus a big V.A.T. tax.
simple.
I remember making similar sounding promises to certain girls when I was in my early 20s.
This is an easy goal— just return to Bush era level spending! (Damn, ain’t that a scarey observation?)
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