Or was it a desparate attempt to get something; just anything to pass, so that he doesn’t have to go home completely empty-handed.
There are numerous factors at play here, Obama is in campaign-mode, wich gives him much less credibility than on a normal day, with respect to anything he may say. In this instance, however, he may be sincere.
Most notably, he not only touched , he took a firm hold onto the third rail. He wants to trim Medicare and Medicaid; wich is code for giving the republicans something they can salivate over. This is a dangerous door to open, once they get so much as a toe into the door they will soon be walking around in that room trying to see just how much they can vandalize, and eventually destroy.
No one should feel too good about extending the payroll tax cut, in the short term it will give some releif to individuals and small business, but in the long term weaken Social Security. Payroll Tax goes to fund Social Security, wich is why SS has never added one single cent to the deficit, it has always been totally funded by the payroll tax. Furthermore SS has been treated as a slush fund it has been continually borrowed from to fund other programs,much of that money has never been paid back into the fund as it should be. Billions upon billions, possibly trilions are still owed to the SS fund.
In my opinion, and I must say that my opinion is based on credible economics, the entire plan that the President unveiled is much too small, as was, the original stimulous plan. The 447 bilion the Presidnt proposed should have amounted to one third of the total. That 447 bln should have goneeverything he spoke of in his speech wich an additional one trillion going to rebuilding our crumbling infrastructure, wich would have been big enough and bold enough to actually have an impact to creating enough jobs to have a clearly positive effect.
Most dissapointing is the fact that we did not hear one word directed at reducing war spending, Bush’s wars (now Obama’s wars) and Bush’s tax cuts, now (Obama’s tax cuts) are well on the way to putting this country into bankruptcy. I must however, give him kudos on a marginally tougher and athoratative manner of speech. But, again, he’s in campaign-mode.