"This result is projected to stabilize the debt-to-GDP ratio at an acceptable level once the economy recovers. The magnitude and timing of the policy measures necessary to achieve this goal are subject to considerable uncertainty and will depend on the evolution of the economy."
"In addition, the Commission shall propose recommendations that meaningfully improve the long-run fiscal outlook, including changes to address the growth of entitlement spending and the gap between the projected revenues and expenditures of the Federal Government."
Deceptive language hid dark intentions. Anti-populist commission members were charged with institutionalizing austerity, eroding middle America, increasing unemployment and poverty, destroying future hopes for millions, and ending the nation's social contract incrementally over time.
At the same time, increased corporate and elitist rights were planned. Robin Hood economic recommendations followed. They included sharply lower corporate taxes and permanent research and development tax credits.
Other proposals offered ways to implement budget cutting on the backs of people least able to afford it. The train left the station. Yearend initial measures will be announced. If not then, expect early 2013 clarity.
They'll conceal what's really at stake. Destroying America's social contract is planned. Key is eroding Social Security, Medicare, Medicaid, and public pensions en route to eliminating them altogether in their present form.
Before taking office, Obama fully agreed. Otherwise, someone else would have been the Democrat's standard bearer. Only those willing to spurn essential rights, erode those in place, and wage war on humanity need apply.
Obama qualified long before arriving in Washington. He was chosen for his support for wealth, power and privilege. He proved it multiple times in office.
He instituted numerous austerity cuts. Biggers ones lie ahead. He and House Speaker John Boehner are close to announcing initial measures. They'll impose crushing burdens on millions least able to afford them.
Robin Hood economics best describes them. New York Times duplicity portrays Obama as people friendly. His anti-populist harshness is hidden.
Times rhetoric reinvented him as opposing "budget cuts in a weak economy," demanding "Bush tax rates expire," and offering Republicans "no give on his campaign promise to ensure that the rich will pay more as part of" any deal struck.
He's "show(n) more determination and will to fight than he has at time in the last four years."
Republicans practice "political extortion." They're "used to (his) yielding to it. They may be waiting to see it he blinks again."
He campaigned and won on a pledge to "reduce the deficit while still making the investments we need to build a strong middle class and a strong economy."
Economist Paul Craig Roberts appears often on the Progressive Radio News Hour. He cuts through deceptive rhetoric, promises and policy.