Obama To Cut Deficit In Half

The Washington Post is reporting that President Obama's 2010 budget request will include provisions aimed at cutting the federal budget deficit in half by 2013. The reduction will come primarily through raising taxes on businesses and the wealthy, and by reducing spending on the wars in Iraq and Afghanistan.

I'm interested to see the details. Are these the same businesses that are currently seeking federal bailout money, and the same "wealthy" who are applying for federal mortgage assistance? And while a draw down in Iraq may appear to be a cost saver, these resources will only be shifted to the Afghani theater as military activity in that region increases in coming months.

The article also mentions a major expansion of health coverage, and usually when I see the words "major" and "health coverage" in the same sentence, "cost savings" are never words that follow.

I wonder if this planned deficit reduction will include any of the sunsetting "short-term" provisions of the recent stimulus legislation. Do you think mayors and educators are going to part with their new found largess without a fight?

Interesting times await...