THE OBVIOUS DEFICIT-CLOSERS at DickMorris.com: "As he tells us he wants to reduce the dangerous budget deficit, President Obama brings to mind the hapless engineers at Toyota who find that their vehicles accelerate whether or not the driver wants them to. It appears that no matter how hard Obama jams on the brakes with his newfound commitment to deficit reduction (after almost doubling the deficit in one year), the level of red ink just seems inexorably to rise. The House voted yesterday to raise the federal debt limit another $1.9 trillion.
Obviously, more fundamental change in the budget’s engineering is needed. But, unfortunately, it is easier to recall a car than a president.
Obama’s announced intention to freeze 13 percent of the budget for three years is a relatively minor cut. It will trim the deficit by only 3 percent over the decade.
But if the president really wanted to get serious about reducing the deficit, he’s got two easy steps to take:
1) Stop the remaining $500 billion of last year’s $800 billion stimulus package.
2) Refund to the Treasury the $500 billion in TARP funds repaid by the banks."
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