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Obama Team's Deficit Cutting Proposal: Benefit the Few, Harm the Many

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In a November 10 press release, BPC "appaud(ed NCFRF's) address the nation's serious fiscal problems and hopes they can achieve the commission's support for a viable plan."

A supportive November 10 New York Times editorial also endorsed it titled, "Some Fiscal Reality," saying:

"The draft proposal by the chairmen of President Obama's deficit-reduction commission was a welcome antidote to the low-minded debate that dominated the midterm elections," offering "no credible plans."

"It lays out sensible principles....It puts everything on the table, including tax reform" and spending cuts. "At a time when good ideas are depressingly scarce in the political and economic debate, and bipartisan agreement even scarcer, this is a commendable start."

The editorial ended saying:

"We hoped the Republicans would pause long enough in their gleeful planning of President Obama's final defeat, and the Democrats would stop wringing their hands, long enough to read this important document - and then act on it."

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Given decades of distorting and suppressing truth, endorsing imperial wars, supporting wealth and power, backing corporate interests, and disdaining working Americans, the Times' position is unsurprising. It also recommends a value added tax to "spur growth," hitting lower income Americans hardest if enacted.

Hopefully saner voices and public outrage will kill it, sending it to history's dustbin where it belongs, along with neanderthal extremists who proposed it.

Stephen Lendman lives in Chicago and can be reached at Email address removed. Also visit his blog site at and listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network Thursdays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening. .

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I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

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We are entitled to entitlement programs like Socia... by Linda Ross on Friday, Nov 12, 2010 at 9:14:33 AM
I know what you were implying, but you should not ... by Blaine Kinsey on Friday, Nov 12, 2010 at 10:11:08 AM
I guess it is only considered "socialism" when the... by Dennis Kaiser on Friday, Nov 12, 2010 at 1:12:38 PM
I gave a variation on the following commentary on ... by Stewart Wechsler on Friday, Nov 12, 2010 at 2:33:38 PM
Do retired military personnel get Social Security,... by bruce powell on Friday, Nov 12, 2010 at 3:46:18 PM
The Redcoats are coming the Redcoats are ... by Markageloo Breza on Friday, Nov 12, 2010 at 8:58:53 PM
I agree with much of what Mr. Lendman says, with t... by John Peebles on Friday, Nov 12, 2010 at 11:24:55 PM
That's a silly idea, this deficit in SS thing. The... by phidipidese on Saturday, Nov 13, 2010 at 12:56:57 AM
Many Dumocrats have continually defended Obama as ... by liberalsrock on Saturday, Nov 13, 2010 at 10:41:34 AM
... by Matthew Peters on Saturday, Nov 13, 2010 at 12:11:57 PM
The National Commission on Fiscal Responsibility a... by Paul Karsh on Sunday, Nov 14, 2010 at 10:13:11 PM