Sounds like a born-again president, huh? But wait...Obama's deficit this year alone is over $1.9 trillion, at that rate, in 12 years, Obama will accrue $22.8 trillion in additional debt.The math is fuzzy, the plan is wrong. If Obama were serious about the debt and deficit, he would offer to cut at least $1 trillion of his $1.9 trillion deficit THIS YEAR. And signup to a full $3 trillion in cuts for each year until the debt is paid down entirely.
The branding term "tax hikes on the rich" is a cunard, of course. Gross incomes of $250k per year hit primarily small business owners. If an S-Corp, or a Schedule C filer, as most are, these business comprise the majority in this group.Taxes are grossly unfair today, if Obama gets his way, those paying 70% of taxes today, will get the tax hike, making the system even more lopsided. The doublespeak doesn't end there, today Obama coined a new way to say tax hike - "spending reductions in tax code", does it get more patronizing than that?
Then you have Obama's yearning for an end to the Bush tax cuts, which benefited primarily the middle class in the country. Obama's generalities on health care, and savings by cutting fraud seem to be so trite by now, its astounding he would repeat the phrase. If there are savings to be made in Medicare fraud, then where has he been? The reason of course is talk, and not action. Even Joe Biden was caught asleep during Obama's retreaded speech today.
Obama is more than late with his seemingly new-found hawkish attitude toward the deficits, in fact, he missed the party entirely. The Barak Obama presidency is a mistake. The country sees it now, the hope is that we, as a country, make it to 2012 and a new senate and president before the card house collapses completely.
Related:
CBO Reports Cuts Are Actually Just $352 million.
