COMMENTARY | In President Obama's speech Wednesday, he focused his energy on class warfare rhetoric. The venom pointed toward corporations and the rich is beginning to wear thin with those who just want the economy to get moving. Obama focused on the wealthy and the big corporations as he attempted to gain favor with the masses, but it is too late if that is the tack he wants to take.
Obama said in the speech, "We can't get to the $4 trillion in savings that we need by just cutting the 12 percent of the budget that pays for things like medical research and education funding and food inspectors and the weather service."
Yes he went there. President Obama said we may have to cut back the National Weather Service and food inspections. The strategy of bringing those agencies into play when discussing cuts means one thing: to create fear and support for his agenda.
Obama will bring more agencies into play as the deadline draws near and he will paint the Republicans across the aisle as cold-hearted conservatives looking to take away Social Security and MediCare. The rhetoric will ratchet up in the next few weeks as August creeps closer and the national debt limit is not handled.
Obama also said, "Nobody wants to put the creditworthiness of the United States in jeopardy."
He is using reports by agencies like Standard and Poor's to threaten the Republicans to make a deal. The fact is, many of the reporting agencies are clamoring for deficit reduction and, if taxes rise and government runs unchecked, they will lower the U.S. debt rating anyway.
Obama knows it is time to make tough choices but the choices have to come to some of the entitlements that have become overwrought with fraud. Welfare investigations and disability investigations could save billions of dollars over the next few years. Those found guilty of welfare fraud should see severe punishment, with a minimum of 10 years in federal prison.
Obama gave his speech as if he has the upper hand. Nothing is further from the truth. Obama must make the deal with the Republicans. He must cut spending and commit to a plan that eliminates the deficit by the year 2020. This is the only way to make the United States credit-worthy.
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