Don't worry, 35 years with a degree in Economics will get me through the taxation elements of that quote just fine without a overwhelming need for accounting. I can work through the 38 ways to add and subtract quite well and read tax code if necessary. I also have a very hot tax attorney who doesn't charge when I call her for lunch.
Yes, Obama is calling for the reinstatement of the system that Bush dropped when he became President and started jacking up deficits. Imagine that. And without a drone Republican Congress with its nose firmly up Bush's ass for six straight years, it might be maintained for a while.
Gotta hate it when your one single jab starts off with an incorrect quote. Sorta takes the wind out being that sloppy, doesn't it? And as for wandering around, Naw, just waiting for somebody to play with.
Let me divert and start with correcting you about Bush and paygo.
The Housing and Economic Recovery Act of 2008 (Pub.L. 110-289, 122 Stat. 2654, enacted July 30, 2008) designed primarily to address the subprime mortgage crisis, was passed by the United States Congress on July 24, 2008 and signed by President George W. Bush on July 30, 2008
. It authorizes the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders write-down principal loan balances to 90 percent of current appraisal value....blah, blah, blah.
Notice the date Bush signed the bill? The bill had a significant paygo element- one that supposedly paid for the $7500 first time homebuyer tax credit/loan from IRS. I am intimately knowledgeable with this because it forced us to move from one property to another to avoid significant capital gains taxes that became the pay for the $7500 go. Anyway, paygo is a congressional practice, not chief executive.
Back to the quote. You keep promising, reprinting speeches and giving your credentials, but haven't taken up my challenge. Regardless of all context bullshit, what was he saying and what was wrong with it? What did he really mean? I believe he misstated what paygo is or was attempting to deceive. And this was a major policy statement--not a nit. This will require a little more thinking than you are used to giving. This is the real stuff.