Diary

CBS News on Infomercial: Pretty speech, Barry, but we can't afford it.

(H/T: Instapundit) You get the feeling that Wyatt Andrews didn’t write the subtitle, because there’s no “may” about this one:

[Reality Check: The Cost Of Obama’s Pledges](http://www.cbsnews.com/stories/2008/10/29/eveningnews/realitycheck/main4557520.shtml?tag=topHome;topStories)
Web Exclusive: If Victorious, Barack Obama May Find Fewer Resources Than He Needs For His Campaign Promises

If he closes every loophole as promised, saves every dime from Iraq, raises taxes on the rich and trims the federal budget as he’s promised to do “line by line,” he still doesn’t pay for his list. If he’s elected, the first fact hitting his desk will be the figure projecting how much less of a budget he has to work with – thanks to the recession. He gave us a very compelling vision with his ad buy tonight. What he did not give us was any hint of the cold reality he’s facing or a sense of how he might prioritize his promises if voters trust him with the White House.



Without question, the Barack Obama infomercial served as a very slick and powerful recitation of the biggest promises he’s made as a presidential candidate. But the very bigness of his ideas is the problem: he seems blind to the concept his numbers don’t add up.Let’s start with his highly suspect, and widely discredited, claim that he can find federal “spending cuts beyond the costs” of his promises. Very few independent economists believe he has identified the savings needed to offset his remarkable list of tax credits, tax cuts and spending pledges.Fact: Even if you believe Obama intends to fix health care, most independent analysts say the cost is massive – $1.2 trillion over ten years, according to the highly respected Lewin Group. When the new Congress wakes up next year to a $1 trillion deficit, and answers the overwhelming new demands for another stimulus package, will the leadership really bite on a health care reform package that digs the deficit hole so much deeper?And that’s just the beginning of what Obama would spend.

Read the whole thing, because, indeed, the author goes on, for some time. Surprisingly so, to the point where you wonder whether Wyatt Andrew’s looked at his 401(K) recently. Or whether CBS is getting tired of the lack of press conferences from the Obama campaign. Or even that either, or both, just looked at the emperor, and noted the lack of clothes… any way it works, it’s almost as funny as watching the AP – yes, the Associated Presslikewise call shenanigans (H/T: Hot Air).

Moe Lane

PS: Yes, I noticed that the CBS thing is only showing up on the website, thus limiting its reach. What, did all of your fingers suddenly break?