While the process was underway leading to the necessary agreement to keep from a potentially disastrous government shutdown, President Obama kept his own counsel while the House Republicans talked loud and long. On Wednesday, President Obama had his say on budgets and deficits. Typically he put it all in context, from the past to the future, and especially in the context of values.
I'm going to quote extensively from this speech, which as usual was more discussed than heard even on the day it was given. Then that's probably going to be it for awhile around here on these topics, because in Washington it's just going to be a lot of sound and fury signifying not very much, for the foreseeable future. And it will all be about numbers that have no meaning to me whatsoever. I'm still surprised that I can spend $30 at the grocery store and carry home so little.
But I will note a few last news items on these topics. It turns out (surprise surprise) that the vaunted $38 billion in budget cuts actually cut much less. One measure says a bit less than half, the Congressional Budget Office says much less than that. According to polls, voters give Democrats and the President credit for averting the shutdown and a majority approve of President Obama's handling of the situation, while a Public Policy Poll finds that "after a little more than 3 months in charge House Republicans have fallen so far out of favor with the American public that it's entirely possible Democrats could take control of the House back next year." Plus there is no great call for more budget cuts--slightly more Americans in this Gallup poll favor no more cuts.
Okay, now the speech--from the top (of the speech, and of this page)...
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