The media are breathlessly informing us of the Spender-in-Chief’s “major speech” today on “deficit reduction.” There are two ways to cut the deficit: (1) reduce spending, which is what Republicans want to do; (2) raise taxes, which I hope isn’t what Mr. Obama proposes, as if the problem is too little revenue ($2 trillion a year apparently not being enough). Actually, I can think of a third way: Vote Republican in 2012.
Here’s what I heard the president saying:
America is great because of its social programs. Tax cuts broke the budget. Big spending: not my fault. Republicans are in the pocket of the rich and are seeking to balance the budget on the backs of the poor and elderly. We will cut defense. We will invest in everything else. Time to raise taxes on the wealthy.