Obama's Jobs n' Deficit Thingie

Most of the focus pre-open this morning was on the newest wrinkle in the European Debt Crisis – aka Cirque Du So-Lame.

Now, around mid-morning, everyone’s tearing into Obama’s latest attempt at economic credibility.  The much-ballyhooed jobs plan that will magically pay for itself and cut the Buffetts of the world back down to size…

From the official statement:

Overall, it pays for the President’s jobs bill and produces net savings of more than $3 trillion over the next decade, on top of the roughly $1 trillion in spending cuts that the President already signed into law in the Budget Control Act – for a total savings of more than $4 trillion over the next decade. This would bring the country to a place, by 2017, where current spending is no longer adding to our debt, debt is falling as a share of the economy, and deficits are at a sustainable level.

Zeke Miller has the whole thing posted at Business Insider so click over…

Source:

Fact Sheet: Obama’s Tax And Deficit Plan (Business Insider)