russ_watters
Mentor
- 23,691
- 11,130
Backing up a step, Obama's $3 trillion debt increase reduction proposal: http://www.cnn.com/2011/09/19/politics/obama-debt/index.html?hpt=hp_t2
A couple of things immediately jump out at you:
1. It includes zero cuts in discretionary spending, but half of the total is tax increases, further distancing himself from the debt deal he made just a couple of months ago. After having made the Tea Party out as being unreasonably unwilling to compromise, he proves their position to be right by completely trashing the deal he made. Good luck getting them to compromise the next time you need something, Obama: next time, they should actually make you sign the cuts into law before agreeing to anything at all.
2. It uses the end of the Iraq and Afghanistan wars as 1/3 of the "cuts". I suppose that's the upside of putting them onto the budget, but no one's going to buy the gimmick of claiming a multi-year, phased drawdown that started before he entered office (Iraq) is a cut he made. I do suppose he could call ending his Afghanistan surge a cut, though...
Caveat - I've looked for CBO budget estimates and it looks like the CBO baseline improperly assumes spending in Iraq and Afghanistan will continue at last year's levels for the forseeable future. But an improper baseline doesn't make for a savings when you correct the calculation. Particularly when the Obama has already provided reduction projections in his own previous budget requests:
http://www.cbo.gov/ftpdocs/121xx/doc12130/04-15-AnalysisPresidentsBudget.pdf
Doing the math on that, it total's $1013 billion in "savings" - I'm not sure where the discrepancy is vs the $1.1T he announced in his "plan", but perhaps he simply dropped the last two years of his placeholder or I got the number of years wrong...
A couple of things immediately jump out at you:
1. It includes zero cuts in discretionary spending, but half of the total is tax increases, further distancing himself from the debt deal he made just a couple of months ago. After having made the Tea Party out as being unreasonably unwilling to compromise, he proves their position to be right by completely trashing the deal he made. Good luck getting them to compromise the next time you need something, Obama: next time, they should actually make you sign the cuts into law before agreeing to anything at all.
2. It uses the end of the Iraq and Afghanistan wars as 1/3 of the "cuts". I suppose that's the upside of putting them onto the budget, but no one's going to buy the gimmick of claiming a multi-year, phased drawdown that started before he entered office (Iraq) is a cut he made. I do suppose he could call ending his Afghanistan surge a cut, though...
Caveat - I've looked for CBO budget estimates and it looks like the CBO baseline improperly assumes spending in Iraq and Afghanistan will continue at last year's levels for the forseeable future. But an improper baseline doesn't make for a savings when you correct the calculation. Particularly when the Obama has already provided reduction projections in his own previous budget requests:
CBO said:The main reason for the difference is that
the baseline incorporates the assumption that funding for
war-related activities will continue at $159 billion a year
(the amount provided so far for 2011, annualized) with
adjustments for inflation, whereas the President’s budget
includes a request for appropriations of $127 billion for
such activities for 2012 and a placeholder of $50 billion a
year thereafter.
http://www.cbo.gov/ftpdocs/121xx/doc12130/04-15-AnalysisPresidentsBudget.pdf
Doing the math on that, it total's $1013 billion in "savings" - I'm not sure where the discrepancy is vs the $1.1T he announced in his "plan", but perhaps he simply dropped the last two years of his placeholder or I got the number of years wrong...
Last edited: