"No Easy Off-Ramps" - Compare And Contrast

Tyler Durden's picture

"I will veto any effort to get rid of the automatic spending cuts... No easy off-ramps on this one. We need to keep the pressure up to compromise. Not turn off the pressure. Only way the spending cuts will not take place is if congress gets back to work and agrees on a balanced plan to reduce the deficit by at least $1.2 trillion. That is what they need to do. That’s the job they promise to do"

- Barack Obama, November 21, 2011

 

Fast forward to....

With our economy poised to continue to strengthen this year, the President will make clear that we can’t see another self-inflicted wound from Washington. The President will urge Congress to come together and act to ensure these devastating cuts to defense and job-creating programs don’t take effect.

- White House statement, February 5, 2013

.... and

"The threat of massive automatic cuts have already started to affect business decisions.  Deep indiscriminate cuts to things like education and training, energy and national security, will cost us jobs and it will slow down our recovery.... It’s not the right thing to do for the economy, it’s not the right thing for folks who are out there still looking for work. And the good news is this doesn’t have to happen.... [Congress] should at least pass a smaller package of spending cuts and tax reforms that would delay the economically damaging effects of the sequester for a few more months until Congress finds a way to replace these cuts with a smarter solution.

- Barack Obama, February 5, 2013