President Obama has a golden chance to keep the commitment he made before taking office. That reforming entitlement programs headed for insolvency is a must.<quoted text>
Cutting spending, I never heard such rubbish. Since Obama has been in office he has more spending cuts than any other president in history. Google it and see. Forget the bailouts. We are talking the normal budget, 1000's out of work in every state due to feds not funding any more. So tell me, how much more do you want him to cut ???
And this tripe about the rich paying , if a walmart employee pays only $10 tax and the Wall St guy pays $10,000 from his weekly pay check they are BOTH paying the same for what they earn. Why is it so hard to get this in your head, only crap like that comes from Hannity who keeps going on about rich paying all the tax. And you want to know why ? its because those same rich people are depriving that Walmart person from earning more to pay more tax so go figure. How do you plan on fixing that, is everyone going to get rich ? I don't think so.
Unfortunately, he appears oblivious to the warnings about these programs.
The president's plan, delivered by Treasury Secretary Timothy Geithner, is to cut total spending by a meager $400 million over 10 years while raising a net $1.6 trillion in new taxes.
Obama also proposes tens of billions in spending on stimulus projects and continuance of long-term unemployment insurance and the supposedly temporary payroll tax cut.
Republicans make a strong argument that increasing revenue by limiting deductions, rather than sharply hiking rates, would have less of an impact on economic growth.
With his obsession on tax rates rather than on debt and entitlements, the president does not look focused on finding a two-party solution for crises that two parties created.
This is where we are.