This chart makes it perfectly clear that despite eloquent words President Obama and the Democrats are STILL not yet serious about cutting the deficit. I notice that the White House was quick to try to "spin" the S&P ratings warning a couple of days ago, claiming that things weren't really that bad. And they are pretending they don't notice the steady fall in the dollar on world markets over the past month or two.
And then in a further unfathomable step, President Obama has commissioned YET ANOTHER deficit study group, to be led by Vice-President Biden, even though he ignored completely the recommendations of the last deficit study commission he chartered, and has been ignoring completely the work of the "gang of six" Senators that have been working on a bipartisan plan for months.
Republican representative Ryan's proposal (labeled the "House Budget" in the chart) certainly has some flaws (largely the refusal to raise taxes), but at least it deals with the real problem. I'm no fan of the Republicans these days, nor of their tendency to confuse the critical debt and deficit issues with all sorts of minority ideological side issues like abortion and funding for NPR, but at least they are in the ball park with their budget proposals.
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