Friday, February 27, 2009

Obama's Savings

Health Care Savings -$316
Limit Tax Deductions for High Earners -$318
Carbon Permit Auctions -$646
Close Tax Loopholes -$354
End War in Iraq -$1,490
Allow Upper-Income Tax Cuts to Expire -$637
Deficit-Reducing Policies -$3,761


I commend President Obama for his plan to cut the deficit, but the War in Iraq savings are partially inflated. As has been mentioned many times over the past couple days:
Assuming that war spending will continue at FY2008 levels (adjusted for
inflation) – an amount even beyond what President Bush’s policy would have
required – strikes us as a gimmick to build up the spending amount in order to
reduce it and claim “savings”. We believe the Administration should have
included war costs at the levels they are proposing.

No comments: