Friday, July 13, 2012
President Obama: "GOP Not Serious About Deficit Reduction": No One in Power is Serious about Deficit Reduction
President Obama is correct that the Republican Party is not serious about Deficit Reduction. All of their budget cuts are targeted towards roughly 15% of the Federal Budget or 600B$ a year, which sound like a big number and bigger then a lot of economies in the World. But in a Federal Budget approaching 4T$ a year, which would make it the third or fourth largest economy in the World by itself. Thats small potatoes, its barley an appetizer before the big meal that would get the debt and deficit under control with real Budget Cuts in the neighborhood of 1T$ a year plus. Plus real Budget Reforms so the Federal Government is doing less and the Sates and people are doing more for themselves. And real Tax Reform that eliminates all of the wasteful Tax Expenditures in the Tax Code. House Republicans have yet to put a plan on the table that targets what I call the big four, Social Security, Medicare, Defense and Tax Reform, why because those things would be very hard to do politically. House Republicans are interested in sounding like Fiscal Conservatives but not actually being Fiscal Conservatives, which are two different things.
To be fair President Obama and Senate Democrats aren't serious about Deficit Reduction either. The only thing they are interested in, is the 2012 General Elections and getting reelected. President Obama has yet to put a serious Deficit Reduction plan on the table and Senate Democrats have yet to put their own plan on the table either. Their message has been lets wait until the elections are over and we are reelected or until this isn't an issue that can hurt us politically. Where we can't get hurt for taking on our own Special Interest Groups. The only two people that are serious about Deficit Reduction that have plans that can actually fix the problem. Are two people that will never have the power to put their plans through and make them law. Libertarian Republican Presidential Candidate Ron Paul and Libertarian Party Presidential Nominee Gary Johnson, who both have come up with 1T$ a year in Budget Cuts.
No one in power is serious about Deficit Reduction right now, Republicans talk about the need for Deficit Reduction. But don't have a plan to accomplish it and Democrats talk about the need for balance in Deficit Reduction but don't have a plan to accomplish it. Another words both sides are full of hot air when it comes to Deficit Reduction and don't have a plan to accomplish what they are talking about.