Monday, April 11, 2011

2012 Budget

When President Obama delivered his State of the Union address, and subsequent 2012 budget, there was no mention of true debt reduction.Nor was there discussion of the true fiscal deterioration of our growing unsustainable debt.
It was obvious that he thought that the elections in 2010 were a fluke,and he could go on his merry spending spree.
After his SOTU adddress before a joint session of Congress,Cong. Paul Ryan gave a response for the Republicans.He is an impressive intellectul figure,but liitle attention was given to him by the media.
Suddenly the tables have turned.After the Republican win on the 2010 budget which saw the President being pulled into the debate at the last minute,a new phenomona occurred.
Ryan issued his 2012 budget,and even those who disagree have pointed out that he has changed the debate.His vision to tackle the trillions in defecits now forces Obama to come up with a whole new budget calling for cuts,and tax increases on the wealthy.
Obama known that the majority of Rep. House members have signed pledges--NO NEW TAXES,so this is a non-starter.
The upcoming debate on the debt limit, will pit the 2 parties against each other.But no longer is the debate whether to cut-it is now HOW MUCH AND WHERE?
Kudos to Cong. Ryan for changing the whole atmosphere.