Yesterday's Wall Street Journal had a wonderful article on decoding 'Obama speak'. A few gems from the article:
"We are not going to get relief by turning back to the very same policies that for the last eight years doubled the national debt and threw our economy into a tailspin." Translation: Blame Republicans, and tax cuts.
It's time to "make hard choices to bring our deficit down." Translation: Hello, higher taxes.
"The only way to fully restore America's economic strength is to make the long-term investments that will lead to new jobs, new industries, and a renewed ability to compete with the rest of the world." Translation: Big government. President Obama loves the word "invest." (He used a form of it 11 times in his congressional address on Tuesday.) It sounds so modern and free market, and, most important, not like what it really is -- "spending." The administration is aware that the deficit is now the story. Thus Mr. Obama's suggestion that blowing out hundreds of billions for health care, energy and education somehow isn't Washington as usual -- but will instead yield American riches down the road.
"We need to make clean, renewable energy the profitable kind of energy." Translation: Your utility bills are going up.
"If your family earns less than $250,000 a year, you will not see your taxes increased a single dime." Translation: For now.
The president's budget proves he intends to tax the top 2% of earners at effective rates much higher than under Bill Clinton. Still, even if he taxed 100% of this group's income, it wouldn't come close to covering his budget costs. Nor will winding down Iraq. If Mr. Obama is committed to his agenda, much less his deficit reduction, the middle class will have to give it up.
We need to watch the actions of this administration--not listen to their words.
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