World leaders back delay to final climate deal, page 1

Sounds as though the controversial climate treaty President Obama was slated to sign next month is officially on the backburner.

SINGAPORE (Reuters) - U.S. President Barack Obama and other world leaders on Sunday supported delaying a legally binding climate pact until 2010 or even later, under a compromise deal for next month's Copenhagen summit.

"There was an assessment by the leaders that it was unrealistic to expect a full, internationally legally binding agreement to be negotiated between now and when Copenhagen starts in 22 days," senior U.S. negotiator Michael Froman told reporters after the meeting, which was attended by leaders of the United States, China, Japan, Russia, Mexico, Australia and Indonesia.
af.reuters.com...

Why the sudden delay though? Lately, it seems as though much of the controversial legislation has been rushed and passed, in the midst of using "crisis-rhetoric."

Any thoughts as to why the delay?

Obama May Drop Cap-and-Trade to Fight Deficits

www.thefoxnation.com...

President Barack Obama plans to announce in next year's State of the Union address that he wants to focus extensively on cutting the federal deficit in 2010 – and will downplay other new domestic spending beyond jobs programs, according to top aides involved in the planning.

Obama wants domestic spending cuts in next budget

www.google.com...

WASHINGTON — The Obama administration, mindful of public anxiety over the government's mushrooming debt, is shifting emphasis from big-spending policies to deficit reduction. Domestic agencies have been told to brace for a spending freeze or cuts of up to 5 percent as part of a midterm election-year push to rein in record budget shortfalls.

After spending binge, White House says it will focus on deficits

www.politico.com...

President Barack Obama plans to announce in next year's State of the Union address that he wants to focus extensively on cutting the federal deficit in 2010 – and will downplay other new domestic spending beyond jobs programs, according to top aides involved in the planning.

Weak dollar no quick fix for narrowing trade gap

news.yahoo.com...

WASHINGTON – A weaker dollar may boost the nation's economy by increasing exports and narrowing the trade gap — but that won't happen anytime soon.

Instead, the nation's trade deficit rose in September by the largest percentage in a decade as U.S. exports grew for the fifth straight month, but imports rose faster, a government report showed Friday. That trend is likely to continue until the middle of next year, economists said.

I guess he realized the spending was out of hand? I just don't see how...


[edit on 15-11-2009 by Libertygal]

reply to post by Libertygal

---

Yes he is going to cut spending, but that is after the record spending that he is going to incur to support all those initiatives, stimulus and bailouts that are still on the table, let no forget the trillion dollar health care reform and two wars that we have not signs of winning after 6 years.

Also the leaching of tax payer money every month on imports that Americans can not longer afford.

By the time he finishes his spending we the tax payer will have not more tax money to be squeezed out of it for CRAP and trade.

reply to post by marg6043

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Exactly.

Now I am just waiting to see what spending will be cut.

Will it be the blood worms? The frogs? The study of pig manure odor?

Will be interesting to see if cuts means new taxes.

reply to post by Libertygal

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Actually the money comes from our decaying infrastructure and the education system, pathetic, when we keep falling behind on our children education and the jobs that can be generated from fixing our nations infrastructure is completely ignore.

But then again, tax payer pays for infrastructure and then the states and the fed sells them to foreign investors so they can reap the benefits of 100% returns.

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