I'm not against targeted spending - I'll be interested in seeing what Obama means by it.

[stray cat]

Not every program deserves more money and spend, spend, spend isn't necessarily good for any budget.

I do wonder if we are getting pressure to reign in spending by countries who are lending us money for everything we want to buy. The bill comes due.....

[nadinbrzezinski]

1. Seen this movie before

this is a CLASSIC austerity plan, like those imposed in places like oh Mexico by the IMF.

You want to know who? China

This is truly the end of Empire, and the beginning of disaster capitalism in the US.

Currency controls are not that far off.

[DJ13]

3. I dont think many here understand the significance of your point

They think Naomi Wolf's books were about far away places, and that it could never happen here.

Besides, imagine the outcry by the general populace if they discovered that the US government was ceding authority over our domestic agenda to an outside group of bankers.

If you thought those haters of our being in the UN were vocal, THIS could get ugly.

[nadinbrzezinski]

4. This will get uggly

not could, will.

[Juche]

13. I haven't read shock doctrine

I need to though.

What is the end goal? Who is pushing for what goal exactly?

[nadinbrzezinski]

16. The end goal is to privatize all public goods and services

That is the end goal....

It is not an easy read, but one that people need to read.

For specific results see Mexico, Argentina, Chile and a few other places where the IMF has had its long hand...

NAFTA is also part of it, but on a much smaller way.

[EmeraldCityGrl]

2. Just listened to Jared Bernsteirn

on Racheal's show and thought he made a good argument
especially in the area of creating jobs by more targeted spending.

I was upset about this yesterday, but if the entire economic team is in there
going over item by item, this may be a good idea.

[JDPriestly]

7. They want to cut Social Security benefits.

The average Social Security benefit is about $1064 per senior citizen, per person per month. If they cut that, we are officially a third world country.

Ronald Reagan is to thank for this mess.
(Please Google the link for the information yourself. I posted the link several times yesterday. I'm not doing it again. The number was for December 2009 and wasn't hard to find.)

[EmeraldCityGrl]

8. SS will be exempt

"The freeze will cover about one-sixth of the federal budget, touching such areas as housing, health and human services, energy and agriculture. Money spent on defense, entitlement programs like Social Security, Medicare and Medicaid and homeland security would be exempt, White House officials said."

http://thehill.com/blogs/blog-briefing-room/news/77947-pres-obama-to-announce-discretionary-spending-freeze

What are you reading that says SS will be specifically cut?

[gkhouston]

10. Why does Homeland Security get a pass? That behemoth is deserving of scrutiny. n/t

[EmeraldCityGrl]

11. Because they're so afraid of looking weak on security. n/t

[gkhouston]

18. I almost laughed out loud when NPR ran a story this morning about TSA

employees. Just as the news of this spending freeze is circulating, when I'm probably not the only person thinking Homeland Security is bloated and the TSA is not effectively organized...

[JDPriestly]

14. They are setting up a special commission to recommend cuts to

Medicare and Social Security.

They hate us for our freedoms. Remember that one?

[nadinbrzezinski]

17. Because this has been done in EVERY OTHER COUNTRY

where these programs have come to be. That is why.

HISTORY...

[Arctic Dave]

5. The only targeted spending I want to see is on the fucking military.

Cut it in half.

[nadinbrzezinski]

6. That won't happen

not until the empire truly dies.

On the bright side, this is the point you can mark it's definite demise...

[notesdev]

9. I'm fine with a freeze... however

it is very noteworthy that the security state is seen as untouchable, even by what was supposedly the most anti-war President in a generation.

[Juche]

12. They cut spending for everything but the military

That alone should really tell you something. That is what the GOP tried to do when they controlled congress in the 1990s. Now Obama, as a democrat, is proposing the same thing.

I realize our deficits and debts are a problem. And I'm not an economist. But I thought a spending freeze (especially on programs that aid the poor, build science and affect infrastructure) cost more in GDP than they cost.

My impression is this will backfire and cost more money in lost GDP than it saves. Considering that demand has already fallen apart, it isn't going to help.

[Luminous Animal]

15. Until I see defense spending on the table, it is bullshit.

[gkhouston]

19. +1000. There are a lot of things funded out of the Pentagon that have nothing

to do with the care and feeding of the people currently in harm's way overseas.

[CBR]

20. I will see what the plan is before making a decision. nt

[LynneSin]

21. Honestly, even Bernie Sanders showed interest in this

And if the most liberal member of the Senate makes this comment - perhaps 'wait & see' is a good idea.

[groundloop]

22. OP is right on the mark, we need to see what President Obama is proposing before freaking out

I've seen a few posts claiming that Social Security is going to be cut. Far as I can tell that's bullshit right wing propaganda, but people still keep repeating it. President Obama doesn't give details of what's being proposed until tomorrow, there must be some damned good crystal balls out there.