$2 Trillion Over 10 Years

That’s how much money President Obama’s budget will save the American people:

With its new budget due Thursday, the White House is promising $2 trillion in 10-year savings, with an estimated $635 billion held in reserve as a down payment toward President Barack Obama’s pledge of health care reform.

[…]

Obama’s focus on high-end taxpayers is consistent with his larger philosophy — both in taxes and spending. In the case of agriculture subsidies, for example, the budget is also expected to limit government payments to farms earning more than $500,000. At the same time the president would extend his payroll tax break — most beneficial for working class families — while collecting more revenue by allowing some of the Bush-era tax breaks for the wealthy expire.

$2 trillion. That’s nearly enough to pay off the Wall Street bailout ($700 billion), the economic stimulus package ($800 billion) and the foundation of a universal health care program. All of those things will be paid for through good old-fashioned fiscal responsibility.

So it turns out that all the Republican complaining about the high cost of the stimulus package, calling it “generational theft” and whatnot, was just so much hot air.

Advertisements