Category Archives: deficit
In the final press conference of his first term, the president explained what he will and will not do. He might take executive action against guns and he won’t be negotiating the debt ceiling with a gun to the head of the American people .
The tax hike on the rich to avoid the fiscal cliff will bring in 60 billion dollars. This year’s deficit is a trillion dollars. The president doesn’t want to cut spending. Stay tuned.
Uncle Sam’s starting point for spending is a baseline of the previous year CBO projections for the coming year.
”The most absurd current example is Mr. Obama’s claim that his “$4 trillion” plan reduces the deficit by about $800 billion over 10 years by ending the wars in Iraq and Afghanistan. But those “savings,” as he calls them, are measured against a White House budget office spending baseline that is fictional. Those wars are already being unwound and everyone knows the money will never be spent. But they are called “savings” to gull the public and make the deficit reduction add up to a large-sounding $4 trillion.”
Going into tonight’s debate, Obama is mired in troubles (I couldn’t cram in Fast and Furious, Afghan police killing American troops, or the coverup of the Benghazi attacks ), yet he leads in the polls, and Republicans are hammering Romney!
If you’ve got half an hour to blow, here’s an entertaining and angry speech by Pat Caddell, former pollster for Jimmy Carter.