22 February 2009

Cutting the deficit

Obama plans to reduce the deficit by scaling back on war spending and getting rid of the tax-cuts for the rich. We'll wait and see if it happens, but it makes perfect sense to me:

...the deficit will be shrunk by scaling back Iraq war spending, ending the temporary tax breaks enacted by the Bush administration for those making $250,000 or more a year, and streamlining government.

4 comments:

Comrade Kevin said...

It's a start. I, having no great insight about what seems like an educated guess, will not have an official opinion until I see how and if it works.

sanshinseon said...

But it's dishonest -- "scaling back Iraq war spending" OK, but he'll need to spend much more than 2006-8 levels in Afgan / Pakistan, and he's not including that -- could run to far more than the savings from Iraq.

And, he hasn't yet made any of the truly hard decisions -- which are, big-ticket weapons-systems to defund? -- some of them useless but they employ many Americans. Cutting will mean loss of good jobs -- in states & districts with powerful Sens & Reps defending those programs.

BHO starts honestly addressing those 2 issues head-on, and i'll start giving him props.

Karlo said...

My sense is that these foreign engagements and weapons programs are terrible make-work projects in terms of bang for the buck. But I agree that we'll need to wait to see if any of this really happens. I have no idea what the U.S. military hopes to accomplish in southern Afganistan.

ddjango said...

I don't believe it for a minute - he'll trash entitlements, esp. SS, before he bites the hand that owns him