It’s Official: Obama Is Going To Punt On The Debt In His Big Speech On Wednesday

President Obama

This won’t be a huge surprise to anyone, but… Obama is going to punt on details when he delivers his big budget speech on Wednesday.

The Washington Post has a few details of the speech, which will mainly involve giving vague support to the ideas floated by the Deficit Commission. That doesn’t mean he’ll actually endorse any specific legislation or budgeting along the lines of what was suggested.

He’ll also endorse the model proposed by the “Gang of Six” Senators that would involve some combination of modest reforms to entitlements and higher taxes.

Meanwhile, House Democrats are also set to unveil their specific budget plans, which would see both higher taxes and a sharp reduction in defence spending.