Obama says U.S. deficit could jeopardise recovery

[The Northerner]

Source: Associated Press

WASHINGTON (Reuters) – President Barack Obama renewed his pledge on Saturday to make job creation his top priority in 2010 but said it was also critical to rein in a record budget deficit that threatened an economic recovery.

Obama used his weekly radio and Internet address to remind Americans of the various proposals he put forward in the last week to spur job growth and tame a $1.4 trillion deficit.

But before the release on Monday of his proposed budget for fiscal 2011, which begins on Oct. 1, he put a clear emphasis on addressing the deficit problem.

"As we work to create jobs, it is critical that we rein in the budget deficits we've been accumulating for far too long -- deficits that won't just burden our children and grandchildren, but could damage our markets, drive up our interest rates, and jeopardize our recovery right now," he said.

Read more: http://news.yahoo.com/s/nm/20100130/india_nm/india458266

[fasttense]

1. Here's an idea

Roll back the Reagan tax cuts for the uber rich and stop paying for the bush wars - U.S. deficit solved.

[Dr.Phool]

2. That doesn't make any sense at all.

Wouldn't it be much easier to eliminate Social Security, Medicare, Medicaid, VA benefits, food stamps, welfare, and unemployment?

Do I really need this?
:sarcasm:

[Downwinder]

3. Can always end the wars. n/t

[SlingBlade]

5. Now That's the Ticket .... No Wait , That's Not ...

Change you can believe in, Is It ? D'OH !

Hey, How bout we switch this time with the Re-Pukes.

This time WE'LL run up the budget deficit to stratospheric heights

And then THEY can come along latter and leave us a Budget Surplus

Which WE can then squander on our fellow Americans with things like

Health Care For All .....

Oh, Never mind, WE didn't WIN the last couple of elections, Did we.

Can't blame a guy for Dream'in though, CAN yA ? :puke:

[bossy22]

4. well we can do something even easier

roll back the bush cuts which are set to expire soon. That would add an extra $400 billion they say which would help alot.

the truth is though...what would help alot (especially in the future) would be to raise the social security age. IIRC the age was set at 62 since its implementation. At the time of its implementation the avg life span of an american was about 60 years; today its close to 80. Raising the age would be the smartest (and quite possibly the only feasable way) to preventing the eventual slide into the "red" for social security. People are living and working longer and our social safety net should recognize it. There could come a point where 1/3 of all americans would be on social security and the system would collapse.

on edit: the increase i would be talking about would be like 5 years. Even 5 years would take alot of strain out of the system