Well, I didn't watch Sen. Obama's "advertisement for myself!" because I ain't buying it. Also, I heard consumers will spend less of their own money this Christmas (though likely more of someone else's). So this morning I did a little catching up on what the iO said ("Here's what
I'll do!") via a surprising source: The AP.
Obama's prime-time ad skips over budget realitiesTHE SPIN: "Here's what I'll do. Cut taxes for every working family making less than $200,000 a year. Give businesses a tax credit for every new employee that they hire right here in the U.S. over the next two years and eliminate tax breaks for companies that ship jobs overseas. Help homeowners who are making a good faith effort to pay their mortgages, by freezing foreclosures for 90 days. And just like after 9-11, we'll provide low-cost loans to help small businesses pay their workers and keep their doors open. "
THE FACTS: His proposals—the tax cuts, the low-cost loans, the $15 billion a year he promises for alternative energy, and more—cost money, and the country could be facing a record $1 trillion deficit next year. Indeed, Obama recently acknowledged—although not in his commercial—that: "The next president will have to scale back his agenda and some of his proposals."
When the iO said, "scale back some of
his proposals" he meant John McCain's proposals, not the iO's own proposals -- for instance, there is that whole Pentagon thing which can be turned into affordable housing.
On tax increases, his floor has come down from $250,000 to $200,000 in one week. Sen. Biden then knocked it down to $150,000. Let's see, dropping at fifty thousand a week their tax increase floor should be under me by Thanksgiving. In fact my feet feel more firmly planted already. I thank
whatever gods may be for my Go-vernment -- which goes not just for me, but for you, too!
