Obama vacillates on cutting deficit

Obama's numbers here are questionable. He neglects to mention that his own estimates indicate that the deficit is expected to increase after first declining. In any case, he is indicating that he won't part with his beloved programs in trying to restrain spending.

“Already, we are on track to meet our goal of cutting our deficit in half by 2013, and I am absolutely committed to making the tough choices necessary to get us the rest of the way there and bring down our deficit in the long run,” Obama said in a speech at the summit of Asian Pacific leaders. “But we’re not cutting back on the investments that are essential to America’s long-term economic growth: education, clean energy, research and infrastructure. We will make sacrifices, but everyone here should know that as long as I’m president, we are not going to sacrifice America’s future or our leadership in the world.” . . . .