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Obama’s Budget Speech Litigates The Past

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It was forceful, it was direct and it was very pointed in putting the lie to the Ryan’s budget cuts that don’t include any revenue plans.

And let me say this for the record…Ryan’s plans are cruel. He had a chance to lead on this, but he failed.

In any event, Obama said that EVERYTHING was on the table and he pulled no punches today. With good reason. The budget issue had gotten away from him and he was trying to reign it back in. He would reduce the deficit by $4T over the next 12 years, with 75% of that coming through spending cuts, and 25% coming from revenue generation.

So what is he cutting?

Discretionary, defense, and Medicare/Medicaid spending will be affected significantly over the next 10 years.

But hey, don’t take my word for it. Check out the speech…



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