Obama’s budget plans

This guy sure knows how to keep a blogger busy.  Matt Y. has a good summary:

  1. Obama wants the 2013 deficit to be half the size of the 2009 deficit he inherited.
  2. The 2010 deficit is going to be large.
  3. Specifically, we’ll go from $1.2 trillion in 2009 to $1.5 trillion in 2010 to $533 billion in 2013.
  4. Spending cuts are expected to come from the expiration of
    stimulus money, from a reduction in “emergency” appropriations for Iraq
    and Afghanistan, from reductions in Medicare Advantage giveaways to
    private insurance firms, and I believe from some other form of medical
  5. Revenue enhancements are projected to come from the
    expiration of the Bush tax cuts, from ending the hedge fund manager’s
    loophole, and from carbon auction permits.
  6. Overall, the idea is to get back down to a deficit of about 3
    percent of GDP, but to have a better health care system when we do it.


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