Attack Of The Giant If

April 13th, 2011at 06:50pm Posted by Eli

Paul Krugman is conditionally okay with the content of Obama’s Big Important Budget Speech:

Much better than many of us feared. Hardly any Bowles-Simpson — yay!

The actual plan relies on some discretionary spending cuts, this time including defense — good, although I think too much is being cut from domestic spending. It relies on letting the Bush tax cuts for the rich expire — finally! — plus unspecified reductions in tax expenditures.

(…)

Overall, way better than the rumors and trial balloons. I can live with this. And whatever the pundits may say, it was much, much more serious than the Ryan “plan”.

However:

I should probably say, I could live with this as an end result. If this becomes the left pole, and the center is halfway between this and Ryan, then no — better to pursue the zero option of just doing nothing and letting the Bush tax cuts as a whole expire.

That is one enormous If for a president who plays tug-of-war in roller skates.

Entry Filed under: Corruption/Cronyism,Democrats,Economy,Healthcare,Media,Obama,Politics,Social Security,Taxes,Wankers


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