Thursday, March 26, 2009

Pathetic, unfunny joke.

Say what you will about Obama's plans to rescue the teetering economy, at least they're not a sad, pathetic, unfunny joke. Today the GOP finally unveiled it's "detailed road-to-recovery plan" which, interestingly enough, contains no details whatsoever other than a cut in income taxes to 25% for wage earners making over $100,000 a year and 10% for those making less.

Are you going to have any further details on this today?" the first [reporter] asked.
"On what?" asked Boehner.
"There's no detail in here," noted the reporter.
Answered Boehner: "This is a blueprint for where we're going. Are you asking about some other document?"
A second reporter followed up: "What about some numbers? What about the out-year deficit? What about balancing the budget? How are you going to do it?"
"We'll have the alternative budget details next week," promised Boehner. Minority Whip Eric Cantor (R-Va.) had wisely departed the room after offering his opening remarks. ("Today's Republican road-to-recovery is the latest in a series of GOP initiatives, solutions and plans," he had offered.)
A third reporter asked Boehner about the Republican goal for deficit reduction, noting President Obama aimed to cut it in half in five years. "What's your goal?"
"To do better," said Boehner.
"How? How much?"
"You'll see next week."
"Wait. Why not today? Because he asked you to present a budget."
"Now, hold on," said Boehner. "The president came to Capitol Hill and laid out his blueprint for his budget during the State of the Union. He didn't offer his details until days later."
"In general, where do you see cuts coming?" the Huffington Post asked.
"We'll wait and see next week," he said.
It will be interesting to see what the CBO makes of a budget that annihilates the country's tax base. Either it will balloon the debt beyond the wildest assumptions, or it will include absurd budget cuts that no party in power would ever seriously consider passing into law. Here are my predictions:

1) It will call for an absurdly unrealistic across-the-board spending cut that allows the GOP to avoid singling out specific programs for reduction.

2) It will call for an increase in defense spending.

3) It will make wildly unrealistic assumptions about economic growth to allow for a predicted elimination of the federal deficit in its 5th or so year.

4) It won't be anything like a serious attempt at putting together a budget, but rather, a document for the GOP to wave around at press conferences and claim they can do everything Obama wants to do in half the time at half the cost.

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