Obama Says He’ll Cut Massive Deficit In Half By 2013
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After signing into effect the Generational Theft Act of 2009, Obama is now claiming he’s set to reduce the national deficit in half by 2013. How? By raising taxes on the portion of America that already carries a massively disproportionate amount of the tax burden (Top earning 5% of Americans paid 60% of America’s taxes in 2006). My favorite method has to be his other suggestion, “eliminating wasteful public programs.” You mean like Porkulus?
President Barack Obama wants to slash America’s ballooning deficit in half by 2013 by cutting spending on the Iraq war, eliminating wasteful public programs and raising taxes on the wealthy, an administration official said on Saturday.
“The deficit this administration inherited was $1.3 trillion or 9.2 percent of GDP. By 2013, the end of the president’s first term, the budget cuts the deficit to $533 billion or 3.0 percent of GDP,” the official said on condition of anonymity.
“Most of the savings will come from winding down the war in Iraq, increased (tax) revenue from those making more than $250,000 a year, and savings from making government work more efficiently and eliminating programs that do not work,” the official said.
Perhaps he does mean Porkulus and his big plan was to sign it into effect last week and then this week sign a new anti-Porkulus, thereby cutting his projected deficit in half in just a matter of days!
Let’s see how long it takes before he starts to scale back that oversized claim. 2 weeks? 2 days? Any minute now. Any minute.
Update: Mississippi Governor Haley Barbour points out that even at half this will still be the largest deficit ever for the United States:
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February 22nd, 2009 at 1:05 pm
Yep, I don’t at all doubt “Hussein” O will cut it in half by being complicit (as was GWB with 911), if not actively engaged in wiping out more than half of the United State’s population between now and 2013 – one less mouth is one less mouth to have to feed or to be worried about; don’t you know?
February 23rd, 2009 at 9:40 am
Can’t wait for what comes out of the “financial responsibility” summit today. Maybe Matt’s right and he’ll push for an anti-stimulus. What the heck, another day, another sea change.