This Will Not Turn Out Well
The President is going to lay out a deficit reduction plan. The forecast is that it will focus on Medicare and Medicaid, and we don’t think he is going to propose increases. In short, the President is going to start negotiating with himself to cut spending for the elderly and the very, very poor. (Take a look at the qualifications for Medicaid, you basically check a box that says “abject poverty”). So when he starts negotiating with the Radical Conservatives, the cuts will be even greater.
Of course, Obama will apparently call for an end to the Bush tax cuts for the wealthy. Hard to take this seriously when he signed a bill extending them for two more years just a couple of month ago.