Obama Vows To Cut Wasteful Spending

President-Elect Names Peter Orszag as Budget Director, Calls For Fiscal Restraint As He Plans Expensive Stimulus Package

(CBS/AP)  President-elect Barack Obama pledged to make deficit reduction a goal of his administration Tuesday - but only after recovery from the financial crisis is well under way. "We are going to have to jump start the economy," he said.

At his second news conference in as many days, Obama claimed a "mandate to move the country in a new direction," and promised to consult with Republicans as he goes about it.

"I think what the American people want more than anything is just commonsense, smart government. They don't want ideology, they don't want bickering, sniping, they want action and effectiveness. When it comes to the budget, people don't want to continue argument about big government or small government, they want smart government and effective government."

The president-elect announced Peter Orszag would be his budget director, charged with scrutinizing spending with a goal of "eliminating those programs we don't need and insisting that those we do need operate in a cost-effective way." As an example that needs review, he cited reports that more than 2,700 millionaires received farm payments between 2003 and 2007, even though it wasn't clear they were eligible.

"Budget reform is not an option. It's a necessity," he said, adding he would ask his economic aides to "think anew and act anew."

Orszag is the director of the Congressional Budget Office, a man who the president-elect said "knows where the bodies are buried."

Obama's focus on careful federal spending marked something of a contrast from Monday, when he declared that restoring the economy to health took priority. Then, he urged Congress to prepare an economic stimulus program for him to sign as soon after Inauguration Day as possible. Estimates of the measure range from $500 billion to $700 billion over two years.

In Tuesday's remarks, he said, "As soon as the recovery is well under way, we need to set up a long-term plan to reduce the structural deficit and make sure we are not leaving a mountain of debt for the next generation."

"With several news availabilities and announcements this week, the President-elect is setting down some general principles for his economic team going forward to try to reassure the markets and consumers alike,” said CBSNews.com senior political editor Vaughn Ververs. “The new administration is still two months from taking power and but we’re seeing a real effort from the incoming team to make sure everyone knows they’re already beginning to work on a very complex and difficult set of problems.”

The deficit has soared during President Bush's tenure, and could well approach the once-unthinkable level of $1 trillion this year by the time the costs of the financial bailout and economic stimulus are taken into account.

Federal red ink hit a record $455 billion in fiscal 2008, ending Sept. 30, more than double the previous year.

"We are going to have to jump-start the economy ... but we have to make sure that those investments are wise. We have to make sure we are not wasting money in every area," Obama said Tuesday, defining the two objectives that will guide his economic program.

Elected on Nov. 4 in an Electoral College landslide, Obama claimed "a mandate to move the country in a new direction and not continue the same old practices that have gotten us into the fix we are in."

At the same time, he said, after gaining only 53 percent of the popular vote," we enter into the administration with a sense of humility and a recognition that wisdom is not the monopoly of any political party."

Along with Orszag, Obama named Robert Nabors as deputy budget director. Nabors has been the top staff aide on the House Appropriations Committee, which prepares spending legislation.

Earlier appointments included New York Federal Reserve President Timothy Geithner as treasury secretary and former Treasury Secretary Lawrence Summers to head National Economic Council.

[dilonsiel]

You idiots run up $20 or $30 or $100,000 in credit card debt from buying things you can''''''''t afford...

What''''''''s the first thing you do? Run to the bankruptcy courts, get it WIPED OFF THE BOOKS...so that everybody elses credit card interest goes up because you JUST STOLE FROM THEM....LEGALLY!

--------Posted by Rowdydfw

One of the major, if not first, reasons for (individual) bankruptcy is medical bills.

[strangeworld]

"Halliburton? They''''re supplying our troops...would you have our troops just break bread and divide the fishes while they''''re fighting for your freedom?"

Just so you know, Halliburton is no longer a US company...they moved their headquarters to Dubai last year to avoid paying US taxes. Number one...there''s no way that the US taxpayer should be paying contractors to do the work that soldiers can do at 20% of the price. If a war is worth fighting, or a strong military is worth having, we should be drafting to supply it so that everyone gets a chance to serve their country. this doesn''t sit right with the wealthy republicans who couldn''t bear the thought of their kids having to put off business school for a couple of years, but hey, who cares. Number two...there should be no military contracts going to foreign corporations like Halliburton, especially no bid contracts. I''d like to see the Obama administration strip Halliburton of their contracts and award them to companies who still give a rats rump about the US and it''s people. The only thing that Halliburton cares about is it''s ability to separate the US taxpayer from it''s money.

[iamfreeru]

Help is on its way? With whose money? It will run out- and then what? Obama will be standing alone looking like the fool with whom you elected,saying :
"...but I wasn''t experianced to run this country, why did you choose me?" Never his fault. Never your fault, either, right??

[hatesthecolt]

diots like you can''''t even see the problem. The government can''''t stop spending responsibly until the people do. It''''s that simple.

Posted by Rowdydfw

I do discuss issues and on these very pages, but only with those who want to engage at above a first grade level. I tried responding to you but all you do is spout the same HYSTERICAL ALL CAPS unsupported nonsense. Or you go sideways to the issue being discussed. It''s like conversing with a 4 year old. So yes I am reduced to treating you like the comic strip you have allowed yourself to become.

[hatesthecolt]

It''''s like people have just gone totally NUTS!

Posted by Rowdydfw

How is THAT for straight from the horse''s mouth (or maybe a different part of the anatomy)!

[clancy49]

The happy thought of the moment is: George Bush has finally "Left the Building."

[clancy49]

I didn''t vote for the President Elect, but the first wastes to cut out are the gigantic profits to Halliburton, Brown and Root, and Wackenhut for their services in the war and construction in Iraq? (Government contracts that are subcontracted giving really high profits to the companies.) Cut the pork from bills, and if you have ever seen the movie "Dave", maybe we just need a working CPA and not a committee. (Especially when the committee are foxes in the chicken coop). Just a thought.

[nikosk11]

Rowdydfw,

Obviously you can not see the forest because two trees (ignorence and hate) are blocking your view.

The truth is - like it or not - Repukes had congress for 12 years and this war criminal, yellow, was in office for 8. There is the problem; an American problem and you are part of it.

[nikosk11]

Rowdydfw,

I don''t see, or hear any complaints from you on the Billions and Billions going to Wall Street and to Hulliburton. Are you one of them?

[hatesthecolt]

You idiots run up $20 or $30 or $100,000 in credit card debt from buying things you can''''t afford...

What''''s the first thing you do? Run to the bankruptcy courts, get it WIPED OFF THE BOOKS...so that everybody elses credit card interest goes up because you JUST STOLE FROM THEM....LEGALLY!

Posted by Rowdydfw

Oh and there ar no republicans in personal debt crisis right now? Out there buying houses they can''t afford? What a hypocrite you are! (Oh wait, let me put that in all caps so you can read it... WHAT A HYPOCRITE YOU ARE!!)

[hatesthecolt]

MizzerZ, good post! Ah the hypocrisy so common in the right wing; big government is bad unless it is to my direct (and even better exclusive) benefit, then it''s good.

[mizzerz]

The GOVERNMENT cannot FIX it for YOU! What YOU are going to have to do is FIX IT YOURSELF!

Posted by Rowdydfw

If the government doesn''t help then who is defending democray overseas, Who is guarding our borders, who is providing schools and universities, who is providing aid to go to colleges and universities? Who are making our skys are safe? Who is making it possible for the elserly are taking care of? If it isn''t the government , I would like to know who?

[cheteunice]

How many ''promises'' has Obama hade since he announced his run for the presidency? And people really expect him to keep them? Right!

[cheteunice]

Not to call it wasteful spending, but if Obama really wants to cut federal expenses why doesn''''t he go to a $1 a year salary until the economy recovers! It would show Americans that he is serious and trustworthy!

[anotherview2-2009]

Words versus action. The level of money being thrown at poorly run major corporations is hardly a demonstration of "fiscal restraint." The government printing money at an unprecedented rate is not fiscal responsibility. And the encouragement for banks to loan and voters to borrow is exactly what got us here. Hardly "fiscal restraint."

And with Reid and Pelosi chomping at the bit for massive government programs Obama will be shown to have just mouthed the words, "fiscal restraint" by the time the accounting is done.

[cheteunice]

Not to call it wasteful spending, but if Obama really wants to cut federal expenses why doesn''''t he go to a 41 a year salary until the economy recovers! It would show Americans that he is serious and trustworthy!

[reaganitegop]

"Obama Vows To Cut Wasteful Spending"
_____________________________
_______________________

Better ask Pelosi and Reid about that first- because BHO lacks the stature to contol them, and it already appears he''''s really just a figurehead.

Doubt it? How else (other than weakness or naivete) to explain the appointment of Hillary to State? And HOW is he going to control the Clintons, pray tell? They can''''t even control each other... and Bill Clinton''''s dealing with/money from foreign clients that Hillary has lambasted on the Senate floor (Kazahkstan, UAE, Morroco) creates a ghastly conflict-of-interest, indeed.

WHY did Obama feel forced to make such comprimised appointments, and create such a multi-polar, disfunctional cabinet? NO-body thinks he can control Emanuel, either... wasn''''t this one of Bush''''s great faults? Cheney/Rummy vs. Rice/Powell?

These are moves borne of weakness, as Obama knows better than anyone his mythic image is a fraud. Fearful of being exposed, he''''s going with the flow of the DNC, hoping they''''ll cover for him... just like he shamefully acquiesed to the corrupt Chicago Daley Machine. "Get along to get ahead" has served Obama well... perhaps too well, as now the buck stops with him, and he''''s going to have to actually perform executive duties for once in his charmed life.


http://reaganiterepublicanresistance.blogspot.com/

[nikosk11]

ReaganiteGOP,

Did you know Reagans best years of his acting career was from 1980 to 1988?

[reaganitegop]

"Obama Vows To Cut Wasteful Spending"
____________________________________________________

Better ask Pelosi and Reid about that first- because BHO lacks the stature to contol them, and it already appears he''s really just a figurehead.

Doubt it? How else (other than weakness or naivete) to explain the appointment of Hillary to State? And HOW is he going to control the Clintons, pray tell? They can''t even control each other... and Bill Clinton''s dealing with/money from foreign clients that Hillary has lambasted on the Senate floor (Kazahkstan, UAE, Morroco) creates a ghastly conflict-of-interest, indeed.

WHY did Obama feel forced to make such comprimised appointments, and create such a multi-polar, disfunctional cabinet? NO-body thinks he can control Emanuel, either... wasn''t this one of Bush''s great faults? Cheney/Rummy vs. Rice/Powell?

These are moves borne of weakness, as Obama knows better than anyone his mythic image is a fraud. Fearful of being exposed, he''s going with the flow of the DNC, hoping they''ll cover for him... just like he shamefully acquiesed to the corrupt Chicago Daley Machine. "Get along to get ahead" has served Obama well... perhaps too well, as now the buck stops with him, and he''s going to have to actually perform executive duties for once in his charmed life.


http://reaganiterepublicanresistance.blogspot.com/

[cheteunice]

Not to call it wasteful spending, but if Obama really wants to cut federal expenses why doesn''t he go to a 41 a year salary until the economy recovers! It would show Americans that he is serious and trustworthy!