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Fri Feb 22, 2013, 09:05 AM

WH: A Balanced Plan to Avert the Sequester and Reduce the Deficit

http://www.whitehouse.gov/blog/2013/02/21/balanced-plan-avert-sequester-and-reduce-deficit

A Balanced Plan to Avert the Sequester and Reduce the Deficit
Jennifer Palmieri
February 21, 2013
01:10 PM EST
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In eight days, harmful automatic cuts are slated to take effect, threatening hundreds of thousands of jobs, and cutting vital services for children, seniors, people with mental illness and our men and women in uniform.

Only Congress can avoid this self-inflicted wound to our economy and middle class families, and the only thing standing in the way of a solution today is Congressional Republicansí refusal to even consider closing tax loopholes that benefit wealthy Americans and well-connected corporations. The President and Congressional Democrats have put forward solutions to avoid these cuts and allow time for both sides to work on a long-term, balanced solution to our deficit challenges.

The President is serious about cutting spending, reforming entitlements and the tax code to reduce the deficit in a balanced way. The question is, will Congressional Republicans come to the table to get something done?

Letís take a moment to look what weíve done so far: The President has already reduced the deficit by over $2.5 trillion, cutting spending by over $1.4 trillion, bringing domestic discretionary spending to its lowest level as a share of the economy since the Eisenhower era {see below}. As a result of these savings, together with a strengthening economy, the deficit is coming down at the fastest pace of anytime in American history other than the demobilization from World War II.

And he's laid out a specific plan to do more. His proposal resolves the sequester and reduces our deficit by over $4 trillion dollars in a balanced way- by cutting spending, finding savings in entitlement programs and asking the wealthiest to pay their fair share. As a result the deficit would be cut below its historic average and the debt would fall as a share of the economy over the next decade. Just two months ago Speaker Boehner said there was $800 billion in deficit reduction that could be achieved by only closing loopholes and reducing tax expenditures. So we know we can get this done. Letís be clear: the Presidentís proposal to Speaker Boehner is still on the table.
Here it is again:
http://www.whitehouse.gov/sites/default/files/docs/deficit_reduction_table_bucketed_r8.pdf

We can't just cut our way to prosperity. Even as we look for ways to reduce deficits over the long term, we must grow the economy in a way that strengthens the middle class and everyone willing to work hard to get into it.

So the choice in front of Congressional Republicans today is simple: will they let these devastating cuts happen that will cost hundreds of thousands of jobs simply because they refuse to close one tax loophole for the wealthy? Or will they compromise and work with us on a balanced solution to get this done? We hope they come to the table for the sake of middle class families, our national security and our future today.

13 replies, 1184 views

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Arrow 13 replies Author Time Post
Reply WH: A Balanced Plan to Avert the Sequester and Reduce the Deficit (Original post)
babylonsister Feb 2013 OP
freshwest Feb 2013 #1
babylonsister Feb 2013 #2
Cha Feb 2013 #3
babylonsister Feb 2013 #4
freshwest Feb 2013 #5
former9thward Feb 2013 #6
Cha Feb 2013 #7
former9thward Feb 2013 #8
Cha Feb 2013 #9
former9thward Feb 2013 #10
Cha Feb 2013 #11
former9thward Feb 2013 #12
Cha Feb 2013 #13

Response to babylonsister (Original post)

Fri Feb 22, 2013, 05:26 PM

1. But M$M says Obama hasn't offered a plan! Who you gonna believe, RW shills or your lying eyes?

Ah, wait, he just offered the wrong plan for their billionaire paymasters. That's why no one knows...

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Response to freshwest (Reply #1)

Fri Feb 22, 2013, 06:40 PM

2. The m$m said that? Who?

I wanna punch them!

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Response to babylonsister (Original post)

Fri Feb 22, 2013, 06:55 PM

3. Thank you for this Plan from the Obama Admin, babylonsistah

David Brooks writing for the NYT stupidly Lied that Pres Obama didn't have a plan.. Ezra Klein calls him out on it.. and he admits it..

Ezra Klein (Washington Post): I had some issues with David Brooksís column Friday on the two partiesí sequester positions Ö. A transcript of our conversation follows.

Ezra Klein: In the column, you said that the Obama administration doesnít have a plan to replace the sequester. I feel like Iíve had to spend a substantial portion of my life reading their various budgets and plans to replace the sequester, and my sense is that youíve had to do this, too. So, what am I missing?

David Brooks: First, the column was a bit of an over-the-top lampooning column about dance moves. I probably went a bit too far when saying the president didnít have a response to the sequester save to raise taxes on the rich. In the cool light of day, I can say thatís over the top. Thereís chained CPI and $400 billion in health proposals. So I should say I was unfair. Iím going to attach a note to the column, if itís not up already.

http://theobamadiary.com/2013/02/22/david-brooks-lying-over-the-top-lampooning-good-grief/


It looks like an Excellent plan as usual.

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Response to Cha (Reply #3)

Fri Feb 22, 2013, 06:58 PM

4. Brooks got slammed by so many people today!

It does a heart good.

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Response to babylonsister (Reply #4)

Fri Feb 22, 2013, 07:02 PM

5. +1,000

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Response to Cha (Reply #3)

Fri Feb 22, 2013, 07:19 PM

6. Chained CPI is an "Excellent plan"?

Well I guess for some.

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Response to former9thward (Reply #6)

Fri Feb 22, 2013, 07:32 PM

7. I see nothing about that in the PLAN.

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Response to Cha (Reply #7)

Fri Feb 22, 2013, 07:35 PM

8. From your post:

Thereís chained CPI and $400 billion in health proposals Or are you saying Brooks is looking at a different plan than you are?

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Response to former9thward (Reply #8)

Fri Feb 22, 2013, 07:38 PM

9. I'm saying Brooks is a lying asshole.

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Response to Cha (Reply #9)

Fri Feb 22, 2013, 07:49 PM

10. Except when he is not.

Spending Savings from Superlative CPI with protections for vulnerable $130

http://mediamatters.org/research/2013/02/22/conservative-media-ignore-obamas-sequester-plan/192778

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Response to former9thward (Reply #10)

Fri Feb 22, 2013, 08:16 PM

11. I don't see where the President says that.

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Response to former9thward (Reply #12)

Fri Feb 22, 2013, 08:48 PM

13. Yeah, I see it now.. thanks former9thward.

Well, we'll see what happens.

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