Monday, September 19, 2011

President Obama;s Deficit Plan: $1.1 Trillion From Ending War That Would Have Happened Anyway

The more I see this budget deficit plan, the less I think the GOP will go for it.  Take the $1.1 trillion savings that is bring proposed from ending US envolvement in Afghanistan and Iraq.

That is supposed to happen anyway.  It doesn't matter who is in the White House. 

Savings are coming in around $3.6 trillion.  If you take out this natural saving of $1.1 trillion over the next ten years, that means you're down to actual savings of $2.5 trillion.

It's a big number and I'm glad the President decided to go big on this. However, $1.5 trillion of the deficit reduction will come in the form of taxes on people who make over one million dollars a year.  

That leases $1 trillion in actual cuts.  I don't know if the GOP will go with this plan.  However, this is a template for Congress to work off of so maybe we'll see something come off this and not be used as a tool for 2012.

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