Obama: "We can't finish the job of deficit reduction through spending cuts alone"—
Jamie Dupree (@jamiedupree) January 14, 2013
What does it mean? For an answer, we have to get help from the #ObamaTranslator:
That sounds about right. After all, the fiscal cliff deal he signed two weeks ago raised taxes by only $41 for every $1 in spending cuts. Clearly, a “balanced approach” requires a much heavier reliance on tax increases.
Obama's argument: We can't reduce the deficit with cuts alone so we're never cutting spending ever. On anything. Ever.—
Mr. Plunge (@DailyPlunge) January 14, 2013
Note also President Obama’s talk about “finishing” the job of deficit reduction as if he has been hard at work cutting the deficit for the last four years and just needs to tie up some loose ends.
Will Obama propose any spending cuts at all?
Don’t get your hopes up.