Obama to G20: USA to halve deficit by 2013

Quote from Lucrum:

Obviously Big Ears Barry expects the G20 leaders to drink the Kool-Aid.
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They must all be laughing at him right now, for a number of reasons.

1. In a letter stressing the importance of not withdrawing stimulus, he is talking about USA deficit reduction.

2. Even if he was able to acheive this lofty goal, which he won't, it still leaves the USA with a gigantic deficit and increasing debt levels.
 
Quote from rew:

Halving a $1.4 trillion deficit means having a deficit of "only" $700 billion -- 50% higher than it was during the pre-crash Bush years. (And those deficits were bad enough.) So even if this reduction is achieved I will be less than impressed.
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Really puts things into perspective, doesn't it?
 
Obama has inspired me to cut down on my debt too. I'm going to reduce my debt to creditors by 50% by 2013 also. And just like the way Obama does things, first I'm going to pick up that new big screen TV, buy a new car, get my kitchen & bathrooms remodeled, and buy a new wardrobe. Thats right...I'm going to spend my way out of bankruptcy because thats how Obama says its done.

He's my hero!
 
Quote from Kassz007:

http://news.bbc.co.uk/2/hi/business/10353247.stm

This might be old news to some, but it's the first I've heard of this ambitous plan. Obama, in a letter to G20 leaders that stresses the need to not withdraw stimulus too quickly, has stated that the USA will reduce their budget deficit in half by 2013. Does anyone have a clue how this is possible? I mean, realistically, will the USA be able to cut spending + raise taxes enough to HALVE the budget deficit in just 2.5 years? I have my doubts.
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There is enough defense pork to cut to do it.... I'm already hearing talk about the pentagon being asked to start getting their house in order.
 
Quote from rew:

Halving a $1.4 trillion deficit means having a deficit of "only" $700 billion -- 50% higher than it was during the pre-crash Bush years.
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Not quite - the last Bush budget was $1.4T deficit.
 
Oh, just wait until Obamacare comes a calling. The anointed one and his merry douche bag follower Democraps say it will only cost a trillion over 10 years, and will not add to the deficit. LOL Try 2-3 trillion dollars added to our deficits for this garbage health care plan, not including the usual bullshit social spending which they won't cut. Not to mention destroying our healthcare system in the process. Nov. 2nd cannot get here fast enough!!!!!!!!
 
Quote from rew:

Halving a $1.4 trillion deficit means having a deficit of "only" $700 billion -- 50% higher than it was during the pre-crash Bush years. (And those deficits were bad enough.) So even if this reduction is achieved I will be less than impressed.
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my sentiments exactly...seems very feasible, and also falls way short of what we probably need to be doing
 
Not quite - the last Bush budget was $1.4T deficit
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no it wasn't, FY 2009 was more Obama than Bush. FY09 starts on 1 October 2008, so FY 2009 includes not only bailout but stimulus, which is 100% obama.

The last all-bush was FY 2008, $455B deficit.
 
I'm beginning to think that Obama lacks enough intelligence to be an effective leader.

I've always been opposed to his ideology and policies, but thought that he was politically savvy and smart. Now I think he just got lucky, with Bush fatigue and that he is actually in way over his head.
 
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