It’s the deficit, stupid

January 31, 2012 by B. Daniel Blatt

Federal budget deficit to stand at $1.1 trillion:

A new budget report released Tuesday predicts the government will run a $1.1 trillion deficit in the fiscal year that ends in September, a slight dip from last year but still very high by any measure.

Now, will someone in the legacy media please ask President Obama what his plans are to lower the deficit? And follow up when he talks about raising taxes on millionaires and billionaires as such hikes will barely dent the deficit?

Comments

TnnsNE1 says
January 31, 2012 at 11:14 am - January 31, 2012
I have been looking for an analysis of just how much the “Obama Tax Increases” will raise. I can’t seem to find a “reliable” number. Can anyone help?
sonicfrog says
January 31, 2012 at 11:36 am - January 31, 2012
Now, will someone in the legacy media please ask President Obama what his plans are to lower the deficit?
No need. We all know he can’t make any plans to lower the deficit because there are icky Republicans controlling the House of Representatives…. Duh!
Sebastian Shaw says
January 31, 2012 at 11:51 am - January 31, 2012
There’s thousands of tax increases coming from ObamaCare, Dodd-Frank, Porkulus & new EPA regulations. The uncertainty in the above matters is part of the reason why no one is hiring.
Obama is stumped when woman confronts Obama about husband unable to find a job:
http://www.realclearpolitics.com/video/2012/01/30/obama_tells_woman_her_husband_shouldnt_be_unemployed_according_to_him.html
His response? “Interesting.” In other words, Obama’s handlers let a person in who is not an Obama sycophant & he was unprepared for the question.
Heliotrope says
January 31, 2012 at 2:36 pm - January 31, 2012
Then wouldn’t the ‘non-extremist’ route be to find a middle ground of increasing taxes to a degree and cutting spending less harshly than would be necessary with the present level of taxation? In fact, wouldn’t that route end up being the necessary one if spending needs to be cut but the politicians involved don’t want to be painted as extremists? But will there ever be a day that the Republicans caucus would give up their no tax increase pledge if it meant getting essential spending cuts? I think not.
Comment by Serenity — January 30, 2012 @ 12:58 am – January 30, 2012
For whatever reason, it appears that cutting your expenses and paying your bills is an “extremist” act.
Apparently, we have some obligation to increase the taxation on those who pay taxes in order to keep the goodies flowing to those who don’t pay taxes.
Apparently, it is “extremist” to cut back on the goodies to people who don’t pay taxes which has added 1.1 trillion dollars to the deficit this year alone.
I wonder how one arrives at the non-extemist definition of extremist.
As the host decays, the saprophyte demands more nutrition. Maybe it is time to put the fungus to some useful purpose.
V the K says
February 1, 2012 at 6:22 am - February 1, 2012
As long as the Democrats keep up the old bait-and-switch of “Tax increases now, spending cuts ten years from now (*wink*),” there is no reason for Republicans not to hold the line.