Oh, sure, Obama is also touting his promise to halve the federal deficit by 2013 and saying he means it. "People should learn that lesson about me because next year when I start presenting some very difficult choices to the country, I hope some of these folks who are hollering about deficits and debt step up because I'm calling their bluff," he said.
But his theories about deficit reduction might be a bit different from yours and mine. Obama wants us to believe (and apparently can't help believing himself) that our soaring deficits are the result of "messy and unfair" tax laws. You know the drill: The rich are not paying their fair share. Put aside for now his specious and class warfare-driven arguments about the rich. The latest data published by Heritage reveal that 90 percent of the rising long-term budget deficits are driven by rising spending and that just 10 percent of the rising deficits are caused by falling revenues. Moreover, the "tax cuts" for those earning more than $250,000 are responsible for just 4 percent of the swing from surpluses to deficits.
Yet after all his newly imposed federal spending programs, Obama will soon unveil the results of his "bipartisan" budget commission and swear he's going to drastically reduce the deficit -- mostly by raising taxes even more. To make the numbers work, even in theory, he'll have to break -- yet again -- his promise not to raise taxes "of any kind" on those making less than $250,000. And he'll expect to be lauded for his stewardship and given a pass for reneging on his pledge. Those who criticize him for his reckless spending, his broken promises and his economically suicidal blueprint to solve our debt and economic problems through higher taxes will be castigated as mere partisans. So predictable. So maddening. So destructive.
In a nutshell, then, Obama's plan is to spend us into bankruptcy without improving private-sector economic growth, impose national health care and other permanent entitlements to further bankrupt us and suppress the economy, exploit the Gulf oil spill to cram through the further growth-destroying cap-and-trade bill, and then revamp the tax code to place even further burdens on income earners and the economy as a whole. What, me worry? Duh! How about you?