Mr Socrates says the EU and IMF have recognised that the debt crisis in Portugal is not so bad by allowing more time for deficit reduction than before.
Mr Socrates says that the fact that the EU and the IMF have allowed more time for deficit reduction than before shows that they recognise that Portugal's debt crisis is not so bad.
I don't see many people on either side as being serious about deficit reduction.
I think that's a much better approach, although serious deficit reduction would still require us to tackle the tough challenges of entitlement and tax reform.
But at the same time Barack Obama was hitting the road to sell an alternative plan that relies more heavily on tax increases to achieve somewhat less deficit reduction.
But the trend under the law will actually be toward larger deficit reduction over time; indeed, the reduction in the deficit is expected to increase in the last 2 years of the budget window.
It hyped the danger of deficits, yet even on its own (not at all credible) accounting, spending cuts were used mainly to pay for tax cuts rather than deficit reduction.
Perot on how fast we can reduce the deficit and how much we can increase taxes in the middle class, I really respect what he's done in this campaign to bring the issue of deficit reduction to our attention.
The task of deficit reduction will fall somewhere in the distant future.
Instead, it would use the savings it would garner by eliminating many of the loopholes and exemptions in America's tax code to pay for big tax cuts, not deficit reduction.
The irony is that deficit reduction has never been Gingrich's heart-and-soul issue.
It's all sound, fury, and posturing, telling us a lot about the cynicism of politicians but signifying nothing in terms of actual deficit reduction.
Blinder thought that after so many false promises on deficit reduction over the last few years, a strong positive response by the bond market was unlikely.
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