A Quote by Barack Obama
He [Barack Obama] talked about deficit reduction. This got me he was talking about how the deficit's being reduced faster in the last 60 years. That's because he's collected more taxes. That's like bragging that you paid your rent after you robbed a bank. It makes no sense.
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The Farm Bill is one of the only bills that provides substantial deficit reduction that passed the Senate this year. It only makes sense that this deficit reduction bill would be included in a larger deficit reduction agreement.
Honest talk about the deficit is risky. Voters are more enthusiastic about the abstract notion of deficit reduction than about the painful details of accomplishing it.
When Republicans say, 'The first thing you do when you do deficit reduction is reduce rates,' it would be like Democrats saying, 'The first thing you do when you do deficit reduction is provide free Medicare at age 55.' We'd like to do that! But it won't bring the deficit down. That's for sure.
Barack Obama is talking about cutting taxes. On net, he is a tax cutter. But the difference between Obama and John McCain is that Obama is raising some taxes on families, for example, with incomes over $250,000. Now, that amounts to about 2 percent, the richest 2 percent of American households. And even with those tax changes, even with all of the tax changes Obama's talking about, taxes will be lower under Obama than they were under the Clinton years.
What I'm saying is America has a job deficit because hundreds of thousands of jobs went elsewhere. Not because [Barack] Obama raised your taxes. He, in fact, lowered them. They are lower.
With a congressional mandate to run the deficit up as high as need be, there is no reason to raise taxes now and risk aggravating the depression. Instead, Obama will follow the opposite of the Reagan strategy. Reagan cut taxes and increased the deficit so that liberals could not increase spending. Obama will raise spending and increase the deficit so that conservatives cannot cut taxes. And, when the economy is restored, he will raise taxes with impunity, since the only people who will have to pay them would be rich Republicans.
Mr. Obama's choices show how fundamentally unserious he is about deficit reduction and spending restraint.
Ronald Reagan cut taxes to raise the deficit to stop liberals in future years from increasing spending. Obama will raise spending to raise the deficit to stop conservatives in future years from cutting taxes. As he funds every liberal dream - from alternative energy production to infrastructure renovation to more federal revenue sharing - he will force a massive expansion in the size of government for a decade to come.
If you think about it, candidate Obama, Sen. Obama, was running on sort of long-run economic issues, like restoring prosperity to the middle class, dealing with the perennial problem of health care in the United States. He talked a lot about the budget deficit, about the need to transition to clean energy.
The only thing growing faster than the federal government's deficit is Chris Matthews' man-crush on Barack Obama.
When you're talking about long-term deficit reduction, $4 trillion worth, entitlement reform needs to be part of it.
When it comes to the budget, we know that we shouldn't be cutting more on core investments, like education, that are going to help us grow in the future. And we've already seen the deficit cut in half. It's going down faster than any time in the last 60 years. So why would we make more cuts in education, more cuts in basic research? Nobody thinks that's a good idea.
We had a $10 billion budget deficit when we got here in January of 2003. We cut that budget deficit; we did not raise taxes; we came back in '05, and we had an $8 billion surplus. That's how fast it can happen.
Some people worry about our federal deficit, but I, I worry about our bravery deficit. Our economy, our society - we're just losing out because we're not raising our girls to be brave. The bravery deficit is why women are underrepresented in STEM, in C-suites, in boardrooms, in Congress, and pretty much everywhere you look.
The world doesn't just revolve around you. There's a lot of talk in this country about the federal deficit. But I think we should talk more about our empathy deficit.
We are worried about the size of the deficit, which is why the president is pleased that the House and Senate have followed his lead in cutting the deficit in half over the next five years.
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