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  • bluecheese4u bluecheese4u Mar 13, 2013 1:31 AM Flag

    A Balanced Plan to Avert the Sequester and Reduce the Deficit

    A Balanced Plan to Avert the Sequester and Reduce the Deficit

    President Obama believes that our guiding focus must be growing the economy and strengthening the middle class. That’s his North Star, and it's why he won't accept cuts that force the middle class to bear the burden of deficit reduction.

    The President has put forward a specific plan that will avoid sequestration's harmful budget cuts and reduce the deficit in a balanced way — by cutting spending, finding savings in entitlement programs and closing tax loopholes.

    Both parties have already come together to cut the deficit by more than $2.5 trillion and today the deficit is coming down at the fastest pace since then end of World War II.

    President Obama's plan builds on this progress and would cut the deficit by another $1.5 trillion, bringing it below its historic average.

    whitehouseDOTgov/issues/sequester/the-presidents-plan

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    • The White House
      Office of the Press Secretary
      For Immediate Release March 12, 2013

      Statement by the Press Secretary on the House Republican Budget

      The President believes that there is an opportunity for Democrats and Republicans to come together around a balanced plan to grow the economy and shrink the deficit by investing to create jobs, cutting wasteful spending, and strengthening programs like Medicare and Medicaid. This approach will require both parties to compromise and make tough choices.

      While the House Republican budget aims to reduce the deficit, the math just doesn't add up. Deficit reduction that asks nothing from the wealthiest Americans has serious consequences for the middle class. By choosing to give the wealthiest Americans a new tax cut, this budget as written will either fail to achieve any meaningful deficit reduction, raise taxes on middle class families by more than $2,000 – or both. By choosing not to ask for a single dime of deficit reduction from closing tax loopholes for the wealthy and well-connected, this budget identifies deep cuts to investments like education and research – investments critical to creating jobs and growing the middle class. And to save money, this budget would turn Medicare into a voucher program--undercutting the guaranteed benefits that seniors have earned and forcing them to pay thousands more out of their own pockets. We've tried this top-down approach before. The President still believes it is the wrong course for America.

      That’s why the President has put forward a balanced approach to deficit reduction with no sacred cows. It includes more Medicare savings over the next decade than the House Republican budget, but it does so by cracking down on waste and fraud, not by asking middle class seniors to bear the burden. It closes tax loopholes for the wealthiest and biggest corporations so

      whitehouseDOTgov/the-press-office/2013/03/12/statement-press-secretary-house-republican-budget

 
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