Strike One  —  We initially supported the deal House Speaker John Boehner cut with the White House to cut $38.5 billion from the rest of the fiscal year 2011 budget.  It was only a pittance in the context of all of Washington's red ink, but it seemed an acceptable start, even if we assumed it would be imperfect in its details.

CBO Says Budget Deal Will Cut Spending by Only $352 Million  —  Rep. Harold Rogers, R-Ky., chairman of the House Appropriations Committee, has boasted that the spending deal provided the biggest budget cuts in history.  —  A Congressional Budget Office analysis of the fiscal 2011 spending deal …

Obama's Speech Was a Waste of Breath  —  Obama had a difficult assignment in this speech, partly because of the exaggerated hopes for it (see previous post).  Even allowing for that, it was weak both politically and substantively.  My instant unguarded reaction, in fact, was to find it not just weak but pitiful.

Statement: Robert Greenstein, President, on President Obama's Deficit-Reduction Plan  —  President Obama made an important contribution today to efforts to address the nation's long-term fiscal problems, proposing a plan to reduce deficits by about $4 trillion over the next 12 years and meet …

Obama's Speech on Reducing the Budget (Text)  —  Following is a prepared text of President Obama's debt-reduction speech, to be delivered on Wednesday at The George Washington University, as released by the White House:  —  Good afternoon.  It's great to be back at GW.