“The president,” White House senior adviser David Plouffe said today n NBC’s Meet the Press, “will be laying out his approach to long-term deficit reduction later this week“. It’s about time. Whereas he released a budget earlier this year forecasting a deficit well over one-and-one-half trillion dollars, House Budget Committee chairman Paul Ryan released a budget last week which made the tough choices the Democrat dodged, a budget that many of Mr. Obama’s political allies have derided and demogogued.
Yet, as Jennifer Rubin notes, the mere “fact that the president is now racing to catch up with the spending cutters and that the right is more united than ever tells you how large the impact of the 2010 midterms is.” Perhaps, the concern, articulated through Tea Party protests, has finally reached the ears of the administration. Last month, I asked if Senate Majority Leader Harry Reid was even aware of the magnitude of the federal debt. Today, one of the president’s top political advisors promises a deficit reduction plan “later this week.”
Until we see the plan, we won’t know if the president gets the real magnitude of our nation’s fiscal crisis. Will he eschew the idea of federal spending as a necessary economic “stimulus”? As Mark Steyn puts it:
What’s about to hit America is not a “shock.” It’s not an earthquake, it’s not a tsunami, it’s what Paul Ryan calls “the most predictable crisis in the history of our country.” It has one cause: spending. The spending of the class that laughs at the class that drives to work to maintain President Obama, Senator Reid, Senator Baucus, Senator Harkin, and Minority Leader Pelosi’s “communications director” in their comforts and complacency.
The Democrats’ solution to the problem is to deny there is one. Unsustainable binge spending is, as the computer wallahs say, not a bug but a feature: We’ll stimulate the economy with a stimulus grant for a Stimulus Grant-Writing Community Outreach Permit Coordinator regulated by the Federal Department of Community-Organizer Grant Applications. What’s to worry about?
Those liberals “disheartened” by the recent deal are living in denial. They seem to believe that the solution to every problem is increased federal spending.
The president, rhetorically at least, now seems to have gotten the message of the fall 2010 elections — as well as those in New Jersey, Virginia and Massachusetts which proceeded them. But, in the 2008 campaign, Barack Obama also promised a “net spending cut” only, when in office, to sign on to the biggest spending increases in American history.