Monday 19 September 2011

Obama Plan to Cut US Deficit - Lacks Accountability?


To ensure accountability, one must not declare plans to the masses beyond their time in office. I’m not against planning for the future. Plans are necessary since it provide us with a framework to work around. I’m just against planning for popularity while not taking responsibility for it. It’s easy to make things look good on paper.

Bill Clinton projected that the US would be debt free by now back when he was in office. But....you know the story. Now, President Barack Obama is to unveil plans to cut the US deficit by $3trn over the next decade. The plan should be feasible. Its a common trend now that the world would face a financial crisis at least once a decade. What I'm trying to say is, the plan might not sail smoothly.

The plan that Obama is proposing would only materialize in 2022. Even if he succeed in the next election, he would be out approximately in 2016. Whats the use of 'promoting' your plan when you won’t be in office when the time comes? election purposes?


One way in achieving this plan is through the introduction of a “Buffett Rule”. Taxing people who earns more than $1mln. What a populist move. 

Warren Buffet has been complaining because he feels that he and his filthy rich peers aren’t paying enough tax.

  Tax me!

Long term plans (plan beyond the current president’s term) should be kept within the administration and away from the mass media. Only proposals which are expected to materialize in his term(s) should be announce to ensure accountability and the voting public is not deceived.

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