What's The Point, Obama?

One of the main issue that President Obama promised to change when he was selected to become the head of USA is Budget deficit and public debt.

As of October 10, 2010, the "Total Public Debt Outstanding" was approximately 94% of annual GDP ($13.616 Trillion) with the constituent parts of the debt ("Debt held by the Public") being approximately 66% of GDP ($9.01 Trillion) and "Intergovernmental Debt" standing at 34% of GDP .The United States has the 20th highest debt to GDP ratio of all nations, and has the fourth highest of the G8 Nations.

So what happen? Why budget deficit and public debt is still so high after almost 2 years in office. Where are the reduction in government spending? Where are the increase in tax?

Without the reduction of government spending and increment in tax, budget deficit will never go down.

Federal Reserve on the other hand is not doing Obama any favor. After so many trillions injected into the economy and unemployment rate still skyrocketing, our helicopter Ben still haven't understand economics and continue his usual habit of dropping money with his latest plans to inject at least another $500 billion into the economy through bond purchases under its unconventional program of quantitative easing.

What's the point Obama? Where is the "change"?