Barack Obama supported spending $700 billion on TARP, not to mention nearly $800 billion of the stimulus bill and another bailout for the auto industry.  Despite all this spending, Barack Obama is finally starting to pay attention to the national deficit.  The deficit is currently estimated to be $1.3 trillion, and could go as high as $1.6 trillion.  According to Barack Obama's plan, he hopes to cut the deficit in half by 2013.  This would be accomplished by pulling troops out of Iraq, allowing tax cuts for those making over $250,000 to lapse, and streamlining government.

     I was glad to hear Barack Obama discuss the national deficit, but I question his commitment.  With the size of the stimulus bill, various bailouts, and his campaign promises, I don't see how he will be successful.  Also, we can't forget about Afghanistan, where 17,000 additional U.S. troops will be sent, and our involvement will rise.  Reducing the deficit is an important goal, but I don't see Barack Obama being able to list it as one of his accomplishments in 4 years.


http://news.yahoo.com/s/ap/20090221/ap_on_go_pr_wh/obama_budget