Top 10 highlights of Obama’s deficit reduction plan

September 20, 2011

Thanks, Dave, for getting political last night.

In addition to having Dr. Jill Biden, the vice president's wife, as a guest on his CBS Late Show, David Letterman's Top 10 list focused on the president's latest fiscal proposals.

If you don't have time to watch the video, here are the Top 10 Highlights Of Barack Obama's Deficit Plan:

10. Pay everything off with a giant bake sale on the White House lawn,

9. New 10,000 percent tax on waffles — no way people are giving up their waffles!

8. Congressional Super Committee now reports to even more powerful Super Duper Committee.

7. Medicare no longer covers ass X-rays.

6. From now on, quarters are worth 26 cents.

5. Change the definition of the word "deficit".

4. Seniors must wait until they're 112 before they can collect Social Security.

3. Open more post offices — those places are money machines!

2. Congressmen must pay hookers in cash.

And the number one highlight of Obama's deficit plan:

1. Jets giving three and a half in Cincy — it's like found money.

Rim shot! And we now return you to our regularly scheduled comedy show on Capitol Hill.

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TAX-SAVVY WAYS
TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill.

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings.

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year.

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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