WASHINGTON — President Obama will call for a three-year freeze in spending on many domestic programs, and for increases no greater than inflation after that, an initiative intended to signal his seriousness about cutting the budget deficit, administration officials said Monday...
This is getting some good comments that Pravda's actually publishing:
...So, let's see if I have this right. After lavishing trillions of dollars (current and future tax resources) on the banks and the Pentagon, we're now going to freeze spending on any programs that would actually benefit most citizens. Gosh, George Bush or Ronald Reagon couldn't have done it better... "The Audacity of Hype." is it my imagination, or are we getting more airplay of Won't Get Fooled Again on the classic rock stations?
Let's also let Krugman handle this one:
A spending freeze? That’s the brilliant response of the Obama team to their first serious political setback?
It’s appalling on every level.
It’s bad economics, depressing demand when the economy is still suffering from mass unemployment. Jonathan Zasloff writes that Obama seems to have decided to fire Tim Geithner and replace him with “the rotting corpse of Andrew Mellon” (Mellon was Herbert Hoover’s Treasury Secretary, who according to Hoover told him to “liquidate the workers, liquidate the farmers, purge the rottenness”.)
It’s bad long-run fiscal policy, shifting attention away from the essential need to reform health care and focusing on small change instead.
And it’s a betrayal of everything Obama’s supporters thought they were working for. Just like that, Obama has embraced and validated the Republican world-view — and more specifically, he has embraced the policy ideas of the man he defeated in 2008. A correspondent writes, “I feel like an idiot for supporting this guy.”
Now, I still cling to a fantasy: maybe, just possibly, Obama is going to tie his spending freeze to something that would actually help the economy, like an employment tax credit. (No, trivial tax breaks don’t count). There has, however, been no hint of anything like that in the reports so far. Right now, this looks like pure disaster.
Bob Herbert is muttering "liar" under his breath.
...Mr. Obama’s campaign mantra was “change” and most of his supporters took that to mean that he would change the way business was done in Washington and that he would reverse the disastrous economic policies that favored mega-corporations and the very wealthy at the expense of the middle class and the poor.
“Tonight, more Americans are out of work, and more are working harder for less,” said Mr. Obama in his acceptance speech at the Democratic National Convention in August 2008. “More of you have lost your homes and even more are watching your home values plummet. More of you have cars you can’t afford to drive, credit card bills you can’t afford to pay, and tuition that’s beyond your reach.”
Voters watching the straight-arrow candidate delivering that speech, in the midst of the worst economic crisis since the Depression, would not logically have thought that an obsessive focus on health insurance would trump job creation as the top domestic priority of an Obama administration.
But that’s what happened. Moreover, questions were raised about Mr. Obama’s candor when he spoke about health care. In his acceptance speech, for example, candidate Obama took a verbal shot at John McCain, sharply criticizing him for offering “a health care plan that would actually tax people’s benefits.”
Now Mr. Obama favors a plan that would tax at least some people’s benefits. Mr. Obama also repeatedly said that policyholders who were pleased with their plans and happy with their doctors would be able to keep both under his reform proposals.
Well, that wasn’t necessarily so, as the president eventually acknowledged. There would undoubtedly be changes in some people’s coverage as a result of “reform,” and some of those changes would be substantial. At a forum sponsored by ABC News last summer, Mr. Obama backed off of his frequent promise that no changes would occur, saying only that “if you are happy with your plan, and if you are happy with your doctor, we don’t want you to have to change.”
These less-than-candid instances are emblematic of much bigger problems. Mr. Obama promised during the campaign that he would be a different kind of president, one who would preside over a more open, more high-minded administration that would be far more in touch with the economic needs of ordinary working Americans. But no sooner was he elected than he put together an economic team that would protect, above all, the interests of Wall Street, the pharmaceutical industry, the health insurance companies, and so on.
How can you look out for the interests of working people with Tim Geithner whispering in one ear and Larry Summers in the other?
To be fair, it's not only that Larry and Timmeh have his ears. Petreus Caesar's got him by the short and curly. Greenwald:
...military spending -- all of which is discretionary -- accounts for over 50% of discretionary government spending. Yet it's absolutely forbidden to even contemplate reducing it as a means of reducing our debt or deficit. To the contrary, Obama ran on a platform of increasing military spending, and that is one of the few pledges he is faithfully and enthusiastically filling (while violating his pledge not to use deceitful budgetary tricks to fund our wars)
...In sum, as we cite our debtor status to freeze funding for things such as "air traffic control, farm subsidies, education, nutrition and national parks" -- all programs included in Obama's spending freeze -- our military and other "security-related" spending habits become more bloated every year, completely shielded from any constraints or reality. This, despite the fact that it is virtually impossible for the U.S. to make meaningful progress in debt reduction without serious reductions in our military programs...
Like we really want to do that, anyway. "We" being the only people who matter in Amerika. Bushie and Barry's Ba$e.
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