Obama Intends to Trim Deficit By 2013
President Obama is putting the finishing touches on an ambitious first budget that seeks to cut the federal deficit in half over the next four years, primarily by raising taxes on businesses and the wealthy and by slashing spending on the wars in Iraq and Afghanistan, administration officials said.
In addition to tackling a deficit swollen by the $787 billion stimulus package and other efforts to ease the nation’s economic crisis, the budget blueprint will press aggressively for progress on the domestic agenda Obama outlined during the presidential campaign. This would include key changes to environmental policies and a major expansion of health coverage that he hopes to enact later this year.

"Obama Hood" will rob from the "rich" and give to the...government.
A summary of Obama’s budget request for the fiscal year that begins in October will be delivered to Congress on Thursday, with the complete, multi-hundred-page document to follow in April. But Obama plans to unveil his goals for scaling back record deficits and rebuilding the nation’s costly and inefficient health care system tomorrow, when he addresses lawmakers and budget experts at a White House summit on restoring “fiscal responsibility” to Washington.
Yesterday in his weekly radio and Internet address, Obama said he is determined to “get exploding deficits under control” and said his budget request is “sober in its assessments, honest in its accounting, and lays out in detail my strategy for investing in what we need, cutting what we don’t, and restoring fiscal discipline.”
Reducing the deficit, he said, is critical: “We can’t generate sustained growth without getting our deficits under control.”
Obama faces the long-term challenge of retirement and health programs that threaten to bankrupt the government years down the road, as well as the more immediate problem of deficits bloated by spending on the economy and financial system bailouts. His budget proposal takes aim at the short-term problem, administration officials said, but also would begin to address the nation’s chronic budget imbalance by squeezing savings from federal health programs for the elderly and the poor.

Obama "stimulus" is called higher taxes.
Even before Congress approved the stimulus package this month, congressional budget analysts forecast that this year’s deficit would approach $1.2 trillion — 8.3 percent of the overall economy, the highest since World War II. With the stimulus and other expenses, some analysts say, the annual gap between federal spending and income could reach $2 trillion when the fiscal year ends in September. (Read more.)
B.S. Report–What a novel, original plan President Obama has: continue to soak the most productive citizens by confiscating their justly-earned wealth–to give to the least-productive citizens through government programs. Gee, that has never been tried before, has it?
Obama is such a smooth operator he can almost make you forget that his ideas are absolutely archaic. And do you really believe that Obama is going to limit his tax hikes to those earning $250k a year? That and ending the Iraq war is going to pay for his trillions in spending increases? That won’t even keep us at the status quo.
No, the moment President Obama has the favorable climate to do more, i.e. health care reform, he will. What’s most annoying is his absolute certitude–critics liked to talk about how GW Bush never admitted he was wrong, but he didn’t hold a candle to Obama and his team’s arrogance.
For instance, White House Budget Director Peter Orszag said, “We will cut the deficit in half by the end of the president’s first term. The plan would keep the deficit hovering near $1 trillion in 2010 and 2011, but shows it dropping to $533 billion by 2013, he said — still high but a more manageable 3 percent of the economy.” (Conveniently, the plan would be in time for the re-election campaign…no sense in doing things that might work immediately…even the spending in the “stimulus” package isn’t due until late in 2010 and onward.)
Where is he getting these numbers from? Well, as Rodney Dangerfield famously said in the movie ‘Back to School,’ “How about Fantasyland?”


















