Press Conference by the President (OBAMA AGREES TO $1.7T IN CUTS!!!!)

[expat_panama]

Now, what that would require would be some shared sacrifice and a balanced approach that says we’re going to make significant cuts in domestic spending. And I have already said I am willing to take down domestic spending to the lowest percentage of our overall economy since Dwight Eisenhower.

Read more at Press Conference by the President | The White House

From Section 3 — Federal Government Outlays by Function of the federal budget at Budget of the United States Government: Historical Tables Fiscal Year 2012 we have Eisenhower's domestic spending peaking at 5.0% gdp and now it's 16.6%. The current gdp is $14.9T so this means we cut domestic spending by $1.7T. Others may be interested in this take: American Thinker- Print Article

Problem solved. Have a nice day.

 

[Sarah G]

Now, what that would require would be some shared sacrifice and a balanced approach that says we’re going to make significant cuts in domestic spending. And I have already said I am willing to take down domestic spending to the lowest percentage of our overall economy since Dwight Eisenhower.

Read more at Press Conference by the President | The White House

From Section 3 — Federal Government Outlays by Function of the federal budget at Budget of the United States Government: Historical Tables Fiscal Year 2012 we have Eisenhower's domestic spending peaking at 5.0% gdp and now it's 16.6%. The current gdp is $14.9T so this means we cut domestic spending by $1.7T. Others may be interested in this take: American Thinker- Print Article

Problem solved. Have a nice day.

For some reason, I just don't believe we're getting the complete story here.

 

[expat_panama]

...I just don't believe we're getting the complete story here.

We have what we have. We got the budget records and we have the press conference transcript. Tomorrow we may have an unemployed teleprompter mechanic.

 

[expat_panama]

I hope it is that easy, and will happen without dire consequences for poor, elderly, sick and public service employees. I'm sure the bankers, millionaires, and the brokers will do just fine.

You don't trust Obama's loyalties?

 

[Mad Scientist]

Obama will pull a "Bill Clinton" and say that "domestic spending" wasn't defined.

 

[expat_panama]

Obama will pull a "Bill Clinton" and say that "domestic spending" wasn't defined.

--and argue about how much "is" is 'IS'.

The bottom line here is you can't buy this quality of entertainment.

 

[CrusaderFrank]

"Don't call my bluff" LOL

OOpsies

 

[Oddball]

Press Conference by the President (OBAMA AGREES TO $1.7T IN CUTS!!!!)

Over what time frame....Like, ten years?

Probably back-loaded as well, so he's but a memory by the time any real proposed cuts come along.

Don't fall for it.

 

[dilloduck]

I hope it is that easy, and will happen without dire consequences for poor, elderly, sick and public service employees. I'm sure the bankers, millionaires, and the brokers will do just fine.

Shouldn't someone examine why all the people who deal with our money will do fine while the rest of us eat shit ?

How about the fed for instance ?

 

[boedicca]

As most of the cuts occur in 10 or 12 years from now, The One is still proposing massive increases in near term spending.

No thanks.

 

[expat_panama]

As most of the cuts occur in 10 or 12 years from now, The One is still proposing massive increases in near term spending. No thanks.

That's what I first thought too but read Obama's offer again, he's "willing to take down domestic spending to the lowest percentage of our overall economy since Dwight Eisenhower." So if he wants 10 or 12 years, then we're talking holding domestic spending at 5% gdp for that same 10 or 12 years. Works for me.