Red Ink Respite? Yeah Right …
Having already drowned several future generations of Americans under a Pacific-sized ocean of red ink, U.S. President Barack Obama now wants the federal government to start “living within its means” via pay-as-you-go legislation.
Well, not exactly … Obama’s plan would simply require that sufficient tax increases and other revenue enhancements be in place prior to Washington politicians approving any new spending items.
Except that’s not it, either … the truth is, Obama’s plan only requires that the cost of new spending legislation be financed over a ten-year span.
So in other words, it’s not really “pay-as-you-go” legislation at all.
What is it?
Another PR gimmick – a tacit acknowledgment by the White House that foreign creditors and domestic consumers have become more than a little bit spooked by America’s unprecedented $1.8 trillion deficit and $11.3 trillion (and climbing) debt.
And so Obama is doing what he always does whenever his pollsters see numbers moving the wrong way, which is to start paying lip service to fiscally conservative policy (or at least what looks like fiscally conservative policy).
Of course, according to today’s Washington Post, Obama is “proposing tough new rules that would require lawmakers to pay for new initiatives — including an expected overhaul of the health system — or face automatic spending cuts.”
Yeah right … read the fine print. It’s the part that’s written in red ink.
Comments
By Liberty for me on June 9th, 2009 at 3:25 pm
TOO funny..Like we could ever pay for this debt.If you dont know we are going to default by now,your head is so far up Obamas ass we would need an oil rig to get you back.
By James the Foot Soldier on June 9th, 2009 at 5:17 pm
In case y’all haven’t figured it out yet – President Obama TALKS as a conservative and RULES as a communist – just ask the happy union workers at Government Motors.
By Silence Dogood on June 9th, 2009 at 8:52 pm
DON’T BELIEVE OBAMA when he tries to talk like a fiscal conservative…he is probably stupid enough to cut taxes during a time of war and almost double the national debt built up over 200 years in just two brief administrations and still just plead for more tax cuts…and all the while call himself and his party the party of fiscal conservatives and restraint. Wait a minute, wait a minute, maybe it is not Obama I am thinking of at all?????????????
By BIN News Editorial Staff on June 9th, 2009 at 10:58 pm
Foot Fungus forgets we had eight years of “W” to dig this hole, and the current Administration has only had a few months to start to dig us out.
Yes. “W” got us in this hole. It’s a fact. Admit it. Who else to blame?
Wacko rhetoric will not get us out. But, that’s mostly what we find here.
By lou on June 10th, 2009 at 7:40 am
I believe Obama is just like Bush