Opinion

The Great Debate

Time for a serious deficit plan

 President Barack Obama pledged to cut the deficit in half by the end of his first term. But because he focused on political gimmicks, rather than real reform, we’ve seen trillion-dollar deficits and nearly $6 trillion added to the debt instead. Based on what we heard from the president at a news conference Tuesday, his unserious attitude is likely to continue.

That’s worrying. Unless we can get a handle on Washington’s overspending, and quickly, it will continue to undermine our economy and jeopardize our children’s futures.

Sadly, the White House is not yet serious about doing that. Instead, it has predictably suggested politically driven tax hikes as appropriate offsets for the sequester, including a tax on corporate jets. If that sounds like a poll-tested P.R. gimmick rather than a serious solution, that’s because it is. A permanent tax increase like that would take 10 years just to raise enough money to replace one week’s worth of the sequester.

A similar scheme, attempted in the 1990s, actually resulted in lost revenue. It had to be repealed just a few years later because of the economic damage it caused.

In short, a tax on corporate jets isn’t a real plan. It’s a cheap stunt. And it certainly won’t shrink the deficit or increase jobs.

from For the Record:

After the warm glow, telling the cold, hard truths

dean-150Dean Wright is Global Editor, Ethics, Innovation and News Standards. Any opinions are his own.

The president was inaugurated in front of adoring crowds and positive reviews in the media. As the unpopular incumbent sat on the platform with him, the new Democratic chief executive took office as the nation faced a crippling economic crisis. The incoming president was a charismatic figure who had run a brilliant campaign and had handled the press with aplomb. The media were ready to give him a break.

That was 1933, and in Franklin Roosevelt’s case, the media gave him a break.

For Barack Obama, the honeymoon was shorter.

Less than 36 hours after Obama took the oath of office, the White House denied news photographers access to the new president’s do-over swearing in, instead releasing official White House photos of the event. Reuters, The Associated Press and Agence France-Presse protested and refused to distribute the official photos (which nevertheless showed up on the websites of a number of large U.S. newspapers).

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