February 14, 2009

Obama to Shift Focus to Budget Deficit - WSJ.com

Obama to Shift Focus to Budget Deficit - WSJ.com:

We have heard all this before, No? Everyone will applaud and bow nicely to reducing the crushing deficits and the mounting debt....until a plan emerges that drastically changes our standard of living and then the wailing will begin. Remember that The Comptroller General resigned out of frustration because no one would pay attention....before the trillion dollar + deficits.

"You can't touch my entitlement!" "Someone else should pay the price [pick your reason].

Nevertheless, Obama's willingness to initiate the discussion again is encouraging. Notice no mention at this time of those third rail topics Social Security, Medicaid and Medicare!

"Along those lines, White House budget director Peter R. Orszag has committed to instituting tougher budget-discipline rules -- once the economy turns around. Those include a mandate that any 'nonemergency' spending increases be offset by equal spending cuts or tax increases."

That's easy...everything suddenly becomes emergency spending!

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