Is Obama too 'weak' to tackle the deficit?
The president's budget has drawn ire from the left and the right. Should he be doing more to rein in the national debt?
Even with spending cuts to many government programs, President Obama's latest budget foresees a $1.65 trillion deficit this year. That's 11 percent of the nation's $14 trillion economy — the biggest proportion since World War II. Economists warn that we're in a "danger zone" where the ballooning national debt could drive up interest rates and wreck the already flimsy economy. Obama's budget calls for reducing the deficit's share of the economy gradually over several years. Why isn't he doing more?
Obama clearly is not up to the task: Judging by this budget plan, Obama is "too weak, too cautious, too beholden to politics over policy to lead," says Andrew Sullivan in The Atlantic. He "proposes nothing" to reduce future entitlements and defense spending, which are the causes of this "crisis" and huge liabilities for future generations. If you're under 30 and believed in Obama, "know this: He just screwed you over."
"Obama to the next generation: Screw you, suckers"
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The president is making a risky political bet: Obama is betting "voters really don't care much about deficits," says James Pethokoukis at Reuters. Otherwise, he would have charted "a bold path on debt reduction," instead of trimming here and there, all while adding $8 trillion to the national debt by 2021. Obama is afraid a "tough-love budget" would "risk a renewed economic slowdown and his potential reelection." But the rising debt could spark a bond-market panic — "maybe sooner rather than later" — and that would cost Obama dearly.
"Obama budget reveals Obama's core"
His plan is still better than the GOP's: The only good thing that can be said about Obama's budget, says Paul Krugman in The New York Times, is that "it's much less awful than the Republican proposal." But Obama is wrong to "think that discretionary spending, not health care, is at the heart of our long-run deficit problems." The president's plan isn't nearly ambitious enough, and is "hardly something to cheer about."
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
'Making a police state out of the liberal university'
Instant Opinion Opinion, comment and editorials of the day
By Harold Maass, The Week US Published
-
8 looming climate tipping points that imperil our planet
The Explainer New reports detail the thresholds we may be close to crossing
By Devika Rao, The Week US Published
-
Try 6 free issues of The Week Junior
Spark your child's curiosity with The Week Junior - the award-winning current affairs magazine for 8-14s.
By The Week Published
-
Arizona court reinstates 1864 abortion ban
Speed Read The law makes all abortions illegal in the state except to save the mother's life
By Rafi Schwartz, The Week US Published
-
Trump, billions richer, is selling Bibles
Speed Read The former president is hawking a $60 "God Bless the USA Bible"
By Peter Weber, The Week US Published
-
The debate about Biden's age and mental fitness
In Depth Some critics argue Biden is too old to run again. Does the argument have merit?
By Grayson Quay Published
-
How would a second Trump presidency affect Britain?
Today's Big Question Re-election of Republican frontrunner could threaten UK security, warns former head of secret service
By Harriet Marsden, The Week UK Published
-
'Rwanda plan is less a deterrent and more a bluff'
Instant Opinion Opinion, comment and editorials of the day
By The Week UK Published
-
Henry Kissinger dies aged 100: a complicated legacy?
Talking Point Top US diplomat and Nobel Peace Prize winner remembered as both foreign policy genius and war criminal
By Harriet Marsden, The Week UK Last updated
-
Trump’s rhetoric: a shift to 'straight-up Nazi talk'
Why everyone's talking about Would-be president's sinister language is backed by an incendiary policy agenda, say commentators
By The Week UK Published
-
More covfefe: is the world ready for a second Donald Trump presidency?
Today's Big Question Republican's re-election would be a 'nightmare' scenario for Europe, Ukraine and the West
By Sorcha Bradley, The Week UK Published