In his news conference today, President Obama said:
As I said in the last press conference, if you’re a progressive you should want to get our fiscal house in order, because once we do, it allows us to then have a serious conversation about the investments that we need to make — like infrastructure, like rebuilding our roads and our bridges and airports, like investing more in college education, like making sure that we’re focused on the kinds of research and technology that’s going to help us win the future. It’s a lot easier to do that when we’ve got our fiscal house in order. And that was an argument that I was willing to go out and make to a lot of skeptical Democrats, as you saw yesterday.
So it seems like he’s saying we need to get our fiscal house in order so that progressives in government can then push for more spending, thus moving our fiscal house back in the direction of out of order. If that happens, I’d bet that the Dems’ solution will be to raise taxes yet again.
If this is Obama’s plan, it proves all the more that spending, not revenue, is the problem, since Obama’s idea of revenue-based deficit-cutting seems to be the kind that undoes itself.