"The Time for Austerity is Not Today" (And By Today, I Also Mean Tomorrow).


That's Jack Lew, White House chief of staff, talking to David Gregory of Meet the Press.

Despite years of growing spending and growing deficits, this ain't the time to cut spending, says Lew, who offers up the hope that "Congress should take long-term deficit reduction seriously."

Obama's budget plan will be released sometime this morning. Check back here for analysis.

More with Lew here.

Return now to the thrilling yesteryear of January 2009, when the Wash Post titled a piece, "Stimulus Aside, Obama Vows Future Budget Restraint."

Tomorrow never comes, don't you know?