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 ...
So quadruple it and then cut it in half? That’s a major accomplishment...and still and outrageously high deficit, still adding onto the massive amount of debt that was added before with the interest piling up, and up, and up and compounding.
Ugh-don’t remind me and yes that is the picture
You've also noticed, I'm certain, that his assorted "campaign financing", even going back to his Illinois Senate days, has been NOTHING other than highly suspect.
Well, Americans will either take back their nation or they will not. At the moment, sadly, and speaking as a professional trader for 30 years' time, I am sadly unable to place a wager.
Best to you, and FReegards!
Perhaps his last name is really “Kennedy”. Just a thought.
Or is Baraq simply telling us that in 2013 he will just be spending 7 trillion$ a year we don't have instead of 14?
I'm sure there have been more ignorant and incompetent retards in the US, but never before playing the role of president...
“It is absolutely critical for the international community to rally behind” South Korean President Lee Myung-bak, Obama said...while hiding under his desk.
Note how dear leader assumes he’ll still be in office in 2013.
After doubling it in less than a year. Yeah right, Obama. Shut up and go away.
that picture is disturbing- he looks drugged
With a debt that increased from 9 trillion to 13 trillion?
Why aren't these communist bastards being locked up?
In 2015 the national debt is estimated to exceed 100% of GDP, up from a low of 30% in 1980.
Debt has only exceeded GDP once before, and that was in WWII when REAL GDP was way lower.
These communists are robbing us blind without facing any consequences.
Obama and Pelosi are arch criminals.
In 2012 it will exceed 100% , not 2015.
Aside from this....I will soon produce a cure for cancer, publish the Unified Theory, and dismiss all worries and wants from everyday life.....after my re-election in 2012.
I would attend the inauguration, but I'm busy dining on $100/lb beef. I'll send my suit instead to read from the teleprompter....
The former community organizer/senator is CLUELESS about how to play the role of POTUS.
Weak & Weaker.
Maybe he should start by cutting his party budget.
Stolen.
"I'm going to do it by doubling your taxes, DUH!"
How can they reduce the amount they pay in interest on the debt? Isn't that automatic?
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