Having absented himself from the budget debate until the end, having run up several trillion dollars in debt, having expanded government, having proven himself completely incapable of comprehending that government is not the answer, Barack Obama is set to announce a deficit reduction plan.
But as all things Obama, it’s likely to be smoke, mirrors and campaign strategy, with only “goals” planned and a “win the future” campaign moniker placed over the spin (emphasis mine):
In his remarks, which come after Friday’s bipartisan deal to cut domestic spending by about $38 billion for the remainder of this budget year, Mr. Obama will not offer details but will set deficit-cutting goals, White House officials said. The numbers were still under discussion on Sunday.
“He’ll lay out his approach this week in terms of the scale of debt reduction he thinks the country needs so we can grow economically and win the future — a balanced approach,” David Plouffe, the senior White House political strategist, said on “Fox News Sunday,” one of four talk shows on which he appeared Sunday.
Obama has been brought kicking and screaming to the table, and there is no honesty to his commitment to deficit reduction.
It’s all Alexrod/Plouffe campaign messaging, a political game, hoping the American people will repeat the mistakes of the past by forgetting the past two and one-half years.
[Headline corrected to reflect that Obama speech will be Wednesday, not tomorrow.]
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Meanwhile, the bond vigilantes begin to turn their eyes towards the US.
“In March, Pimco’s flagship Total Return Fund (TRF) has now taken an active short position in US government debt: -3% on a Market Value basis (or $7.1 billion), and a whopping -18% on a Duration Weighted Exposure basis.”
Zerohedge
“the fact that the world’s largest bond manager — which has made a fortune riding the great bond bull over the years — is short US bonds is a huge turn. That this comes amid such anxiety over the Federal debt also raises the stakes.”
Business Insider
" a balanced approach,” David Plouffe"
By that he means new taxes, right? A 'balanced approach' to a Democrat usually means new taxes now and a promise to trim spending at some unspecified point in time.
You watch tonight; that'll be Obama. Tax now and promise to cut spending later. Something for nothing.
Here's to hoping that the American people will NOT repeat the mistakes of the past by forgetting the past two and one-half years under the failed oil-bama administration.
What should be BHO's 1st ad of 2012 (Ooops looks like the GOP beat me to it).
http://www.youtube.com/watch?v=VIA5aszzA18
Leprechauns. He's found a troop of leprechauns.
Um, Wednesday, I believe I read. Not tomorrow. Suggest headline correction.
@Robert – thanks, corrected. (Psst, don't tell Eric Boehlert I had another error.)
Eric Boehlert isn't worthy of tying your shoes, Professor. I'm looking forward to Obama's shifty tergiversations about raising taxes, which he will attempt to disguise by some tricky euphemisms such as "fees."
This sad sack appears trainable to a slight degree, but we're dealing here with a person who in his heart of hearts believes that government is the cure for whatever ails the economy. He is a danger to the American way of life.
Oops. Forgot to ask you if you could explain David Plouffe's amazing goof-up on the Sunday talk shows when he called the Boehner spending cuts "draconian" and "historic." Does Plouffe realize that these two adjectives connote somewhat contradictory meanings?
Not the first time an Obama spokesman speaks out of both sides of his mouth!!!
The Wed press conference, summarized in advance.
Take Credit, Pass Blame, Blow Smoke
A great deal of Tax Increases (renamed) phrased in a way to make the listener think they are not aimed at them will be proposed for Now, while a great number of nebulous spending cuts phrased in a way to indicate they will never affect the listener will be proposed for some indefinate time in the future, perhaps when Time Machines become available at Costco.
And then our President will go out and play golf.