Categorized | Commentary/Editorial

Hilarious: Obama Calls Tax Increases Spending Reductions: UPDATED

Obama’s latest "Deficit Reduction Plan", announced today was, as expected, a joke.  Among other things, he’s still making the ludicrous claim that Obamacare reduces the deficit, and is an integral part of deficit reduction or something.   There were little specifics other than the fact that at least half of his speech was devoted to, you guessed it, spending proposals.  Here’s an example:

We will make the tough cuts necessary to achieve these savings, including in programs I care about, but I will not sacrifice the core investments we need to grow and create jobs. We’ll invest in medical research and clean energy technology. We’ll invest in new roads and airports and broadband access. We will invest in education and job training. We will do what we need to compete and we will win the future.

And so it goes.  It was a typically unserious deficit reduction plan from an increasingly unserious President who has no clue what he’s doing.  The funniest part of his speech  — perhaps funny is not the correct descriptive given the depth of the doo-doo we’re in with this guy — was his contention that tax increases are now spending cuts. I had to read this part twice:

The fourth step in our approach is to reduce spending in the tax code. In December, I agreed to extend the tax cuts for the wealthiest Americans because it was the only way I could prevent a tax hike on middle-class Americans. But we cannot afford $1 trillion worth of tax cuts for every millionaire and billionaire in our society. And I refuse to renew them again.

More rhetorical flatulence from Obama’s teleprompter. Reduce spending in the tax code?  It’s magic…tax increases are now spending cuts, and we all have a big tax increase, er…spending reduction in the tax code, to look forward to in about 20 months. That ought to motivate the nation’s entrepreneurs to expand their payrolls, right?  Make no mistake, we will all be paying for Obama’s tax hikes, whether it’s through higher prices, fewer jobs, or lower wages.  In addition, Obama’s energy policies are already creating an additional tax on everyone, call it the Obama Green Energy Fantasy Tax, through much higher energy costs.  Every product we buy which requires energy for production and/or transportation, which pretty much includes everything, is affected.  When you put all this together, you get a slower economy, more government transfer payments, and higher deficits.  That’s economics 101.  In short, raising taxes will not close the deficit. Obama closes his speech with another laugher:

In the coming years, if the recovery speeds up and our economy grows faster than our current projections, we can make even greater progress than I have pledged here.

Um, not much chance of the economy growing faster than expected under your policies, Big Guy.

Related: Ed Morrissey’s analysis of Obama’s tax and spending plan here.

Update: I neglected to mention that the only area Obama did mention specific spending cuts was in the one area the government is actually supposed to spend money: defense.  Terrific.  Obama just committed America to a third war kinetic military action, and this is where he wants to cut.

Update II: The author of what is still the only serious deficit plan offered so far, Paul Ryan, reacts to Obama’s latest farce:

Update III: I somehow missed this the first time around (most likely because I had the same reaction to Obama’s speech as Joe Biden).  At any rate, Obama actually uttered the following today:

We have to live within our means, reduce our deficit, and get back on a path that will allow us to pay down our debt.

Queue the Twilight Zone theme.

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  • AmsterdamExpat

    Somehow I think a new Facebook post is on its way.

    And I’d wager that Paul Ryan, too, will have something to say about the latest nonsense.

    P.S. As regards the later part, that was quick:

    • $8196935

      Ryan and Cantor were on FOX earlier taking on Boy O. re his speech and
      calling it fear mongering, , kicking off his own ’12 campaign,
      and no leadership , that was for starters.

    • Quiet_Righty

      Paul Ryan has already been on TV with his response to Obama’s speech. Ryan gave the President’s plan a very poor review. I hope Ryan will post his response soon.

      • crunchingk

        come on feel the noize,sarahs gonna rock the boys well get wild wild wild!!!!!

    • $8196935

      I posted this an hour ago

      FOX has on Cantor and Ryan Ripping Boy O re O’s speech today.
      exposing the O’s fear mongering, and kicking off his own ’12 campaign,
      and no leadership
      They are not caving to Boy O and taking him on.

      • AmsterdamExpat

        Sorry for the double post.

        • $8196935

          My post earlier didn’t show up so posted again.
          and see the earlier one now up

          A few others having the same problem

  • gahanson

    I didn’t bother to listen to the Blowhard in Chief, but it is not surprising that he continued his hying streak, as well as his nonsense streak.

    I hope Palin skewers him before the day is over.

  • Rogue2012andbeyond

    The funniest thing is that we are calling this "only adult in the room" person PRESIDENT of the USA. The joke is on us.

    PALIN 2012!!!PALIN 2012!!!PALIN 2012!!!PALIN 2012!!!PALIN 2012!!!PALIN 2012!!!PALIN 2012!!!PALIN 2012!!!PALIN 2012!!!PALIN 2012!!!PALIN 2012!!!PALIN 2012!!!PALIN 2012!!!

    • quidam65

      Something tells me he’s not on board for The Donald. Wonder what gives him away …

  • crunchingk

    t-paw puts sarah in the pycho circus canidates catergory !haha this man has wasted how much on dc operatives to say this bs haha go home timmy with your head dropped!!

  • technopeasant

    There is a method behind the madness of Obama.

    • crunchingk

      tecno,you had tattletails on here last night saying you were posting on ha about forget about palin trumps the new man or something like that !no way there were lying right?

      • technopeasant

        It was on a Donald Trump thread. I tried to get the trolls to back off Palin and stay on topic.

        In one way I am conventional. I believe that one should stay on topic especially with Trump being in the news so much recently.

        • crunchingk

          man i thought you had gone off the deep end LOL!!!

          • RefudiateGOPe

            If he had, the two of you would be side-by-side.

            • crunchingk

              thanks for your slam of the day refute!LOL

  • crunchingk

    judge just had the rinos "FRANKINSTIEN SARAH"on again!man ive seen enough of thier monster!!!!!!

  • freeperjim

    "Whatever room he walks into, he is the least qualified" – MahaRushie

  • Dan C

    Palin/Ryan could be it!

    On a sour note, Obama is a complete disaster. His dishonesty when it comes to these numbers is mind boggling. It would be funny and pathetic if it wasn’t so dangerous to our economic prosperity.

    • Ryan

      I like Paul Ryan, but I think he deserves either a shot as a Wisconsin senatorial candidate, or as Speaker of the House in the coming years. Allen West is my favorite V.P. pick.

      • Dan C

        That would be fine with me too, but I keep coming back to Wisconsin really helping our electoral situation. Either way, whether Ryan is VP or in the House, Sarah will be working with him big time in getting the budget under control. It is no accident she wrote an oped endorsing the Ryan roadmap and has supported him multiple times when others run away.

  • Ryan

    Obama gives another Malaise speech. Could it be he actually wants to be the second coming of Jimmy Carter?

  • cuatrocinco45

    Did anyone see the video of Biden dozing off during Obama’s speech? One of the funnier things I’ve seen recently. Maybe it can be posted in separate thread. It pretty much sums it all up. He’s delivering a key speech laying out his economic agenda for his 2nd term and his own VP can’t even stay awake.

    • Dan C

      What makes it so sad is that I can’t even blame Biden! lol

  • HiramHawk

    I am anxiously awaiting Governor Palin’s response 2 President Obama’s "people’s budget" announcement & his shameful praise 4 the Communist Chinese 2day, as his model 4 America…

    • crunchingk

      im sure ram and her are putting the finishing slices toghther now!HEHE

    • senator20526

      Boner and Cantor can’t wait to cave on this new proposal by Obama………maybe we can get another 352 million in cuts…….

  • ConservativeCanadian

    WTF is right.

    Apparently this president didn’t take, or couldn’t pass, an introduction to economics course at any of those fancy universities he supposedly attended. Now we know what he’s hiding in those transcripts he won’t release.

  • heypiasano

    For an educated man he has not learned a thing. He has no idea of what the American dream is. People from every walk of life want to come to the United States to have that chance to elevate themselves, so that they too can become rich or rich enough to have a better life than from where they came from.

    Jobs, business do not come from thin air, money is required and who has the money. IF you are Obama you just print it, everyone else has to work their asses off to earn it.

    It’s not going to work this time around, Sarah is going to pin the tail on the JackAss once and for all and send him packing back to George Soros. Sarah will have a little message attached

    " Attention George Soros America is not for Sale, Get It"

  • crunchingk

    please hurry sarah the 3 stooges boiner cantor and whoever in the house are bonified dunces!get down there and show these fools how to cut some damn spending sarah!!!!!

  • John_Frank

    Good post Doug, thank you.

    In response to the President’s speech, the Pentagon has warned that major spending cuts in defense will be detrimental to America’s military capabilities and national security.

    • senator20526

      You really think Obama cares?

  • karenv99

    Read a good one from Gillespie – obummer has "deficit attention disorder"! How appropriate! He is going to ‘cut’ spending does that mean ‘his spending’? We can’t trust a word out of his mouth – even biden was not buying it – he fell asleep!

    The ONLY thing that matters is SARAH2012!!!

    • senator20526

      and Boner and Cantor cant wait to grab their ankles.

  • Harrison Woodard

    Obama exhibits not just incompetence, but SCARY incompetence.

    God help us.

  • nkthgreek

    The more he shoots himself in the foot, the easier it makes Sarah’s job to become POTUS!

  • 4rcane

    Sarah Palin/ Paul Ryan 2012

    • imo123

      I always say Sarah Palin/? 2012 trusting Sarah to decide, but I am liking Ryan.

  • G

    Obama keeps telling all these lies, can no longer differentiate what’s real or not. He lost his credibility, however, in the first place, he is not credible.

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