As a response to its rampant and unprecedented budget deficits, President Obama is doing just what we would expect from a good old fashioned and clueless politician – he endorses a task force to talk about deficit reduction until the end (!!) of the year:
President Barack Obama Saturday endorsed a bipartisan plan to name a special task force charged with coming up with a plan to curb the spiraling budget deficit, though the idea has lots of opposition from both his allies and rivals on Capitol Hill.
The bipartisan 18-member panel backed by Obama would study the issue for much of the year and — if at least half of the GOP panel members agree, a big obstacle — report a deficit reduction blueprint after the November elections that would be voted on before the new Congress convenes next year.
“These deficits did not happen overnight, and they won’t be solved overnight,” Obama said in a statement. “The only way to solve our long-term fiscal challenge is to solve it together — Democrats and Republicans.”
This task force will have plenty of time to sit around and do nothing while the taxpayer will continue to be pillaged. In the end, all I expect them to come up with is some superficial and immaterial spending reductions (to make it look good), and massive tax increases.
The highlighted part above is actually quite funny: Over the past 100 years there have been two parties in Congress that continuously ran up government spending and deficits. In particular over the past 10 years the Republican Bush administration ran up until then never before seen deficits. Then the Democratic Obama administration picked up on that an ran up even higher deficits.
Now, the solution to the problem is supposed to be a bipartisan task force, comprised of Republicans and Democrats to solve the structural deficits brought about be Republicans and Democrats.
If one is capable of understanding the hypocrisy behind these policies, the following is of course completely predictable and unsurprising:
First, however, the plan would have to pass the Senate on Tuesday, where a vote has already been scheduled. Moderate Democrats want to attach the deficit task force plan to legislation to permit the government to continue borrowing money to pay for its operations.
Ladies and gentlemen, I give you … the Government of the United States!