Obama: Cut Defense, Raise Taxes

No surprises from the new White House

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I love it when politicians break out of their traditional policy boxes and do something suprising, novel. Here is how the WaPo describes President Obama's first budgt: "President Obama is putting the finishing touches on an ambitious first budget that seeks to cut the federal deficit in half over the next four years, primarily by raising taxes on business and the wealthy and by slashing spending on the wars in Iraq and Afghanistan, administration officials said." So ...  after consulting economists and businesspeople on the left and the right, after looking for the best ideas he could find no matter what their origin, Obama comes up with the need to raise taxes and cut defense. Ok, then ....

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