President Obama Wrong to Prioritize Deficit Reduction

[Better Believe It]

Obama Wrong to Prioritize Deficit Reduction
By Matthew Rothschild
January 25, 2010

I’m worried that President Obama is going to focus too much on the deficit in his State of the Union speech this week and in his actions throughout this year.

I’m worried because such a focus will make it less likely that he’ll be able, or even inclined to, pass the kind of massive jobs bill we need to bring down unemployment.

Not to push such a bill through would be a moral failing of the highest order: We can’t let 15 million people languish on the unemployment lines. And it would also be a political failing: He’s setting a trap for himself here because if he doesn’t solve the jobs problem, Democrats will face a debacle in November.

I’m also worried because the obsession with the deficit will give ammunition to those who want to shoot holes in Medicare, Medicaid, and Social Security—the programs that largely make up what remains of our safety net, especially for the aged and the disabled.

There’s always trillions for war and bank bailouts, but when we come to claim what is ours, all of a sudden the cupboards are bare.

http://www.progressive.org/wx012510.html

[Lasher]

1. Right, let Republicans pay down the debt when they get back into office.

After all, it was they who ran up the national debt and wrecked the economy.

[kenfrequed]

4. Well...

This is almost a long term conservative plan. Spend into the deficet and cut into revenues by slashing taxes deeply. Run up the deficet high and then force democrats to cut their own throats when they have to balance the budget.

[Lasher]

5. Right, the game is called Starve the Beast.

The only winning move is not to play.

[DebbieCDC]

2. FDR tried it when economists told him the New Deal programs

were causing sky-high deficits that couldn't be managed. FDR tried it -- and the second half of Great Depression was the result. FDR wised up real quick. I don't think Obama is FDR. He's sure not learned anything from FDR's situation which is exactly where we are now. Those who refuse to learn from history are condemned to repeat it.

[librechik]

3. It just shows how Obama is listening to and appeasing the Repuglies instead of common sense

and just about every living economist worth a dime.

That's crazy stuff.