President Obama: Go 'big' on debt deal (USA Today op-ed)

[ProSense]

President Obama: Go 'big' on debt deal

By President Obama

In the short term, my No. 1 focus is getting our economy back to a place where businesses can grow and hire. That's why I want to take a number of steps right away, like extending tax relief for middle-class families and putting construction workers back on the job rebuilding our roads and highways.

But over the last few months, I've also said that I'm willing to cut historic amounts of spending in order to reduce our long-term deficits. I'm willing to cut spending on domestic programs to the lowest level in half a century. I'm willing to cut defense spending by hundreds of billions of dollars. I'm willing to take on the rising costs of health care programs like Medicare and Medicaid, so we can meet our obligations to an aging population.

<...>

That's why people in both parties have suggested that the best way to take on our deficit is with a more balanced approach. Yes, we should make serious spending cuts. But we should also ask the wealthiest individuals and biggest corporations to pay their fair share through fundamental tax reform. Before we stop funding clean energy research, we should ask oil companies and corporate jet owners to give up the tax breaks that other companies don't get. Before we ask college students to pay more, we should ask hedge fund managers to stop paying taxes at a lower rate than their secretaries. Before we ask seniors to pay more for Medicare, we should ask people like me to give up tax breaks they don't need and never asked for.

<...>

A balanced deficit deal that includes some new revenues isn't just a Democratic position. It's a position that has been taken by everyone from Warren Buffett to Bill O'Reilly. It's a position that was taken this week by Democrats and Republicans in the Senate, who worked together on a promising plan of their own. And it's been the position of every Democratic and Republican leader who has worked to reduce the deficit in their time, from Ronald Reagan to Bill Clinton.

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[antigop]

1. When did Ronald Reagan work to reduce the deficit? n/t

[ClarkUSA]

2. In other words, Reagan raised taxes 11 times. It's a tweak at teabaggers in DC.

[Bluenorthwest]

14. Reagan said this about the deficit:

" I don't worry about the deficit, it is big enough to take care of itself."

[florida08]

3. more..

Some of these cuts would eliminate wasteful spending, weapons we don't need, or fraud and abuse in our health care system. Still, some of the cuts would target worthwhile programs that do a lot of good for our country. They're cuts that some people in my own party aren't too happy about, and frankly, I wouldn't make them if we didn't have so much debt.

What does SS have to do with the national debt?

[Vattel]

4. So much for Lawrence O'Donnell's bluff theory.

It's hard to believe that Obama doesn't really want this.

[bullwinkle428]

13. The "Great Oracle" O'Donnell must need to take his crystal ball into the shop -

what with this analysis on the debt deal, and the recent developments surrounding the flaming tailspin that his boy T-Paw's campaign appears to have gone into!

[AnnaLee]

5. 50 years

OK, I need some help here. I assume "lowest level in 50 years" means spending as a percent of GDP. Right now we are in a recession so GDP growth has been sluggish. Anyone know what safety net programs have joined or received large increases in their share of the GENERAL budget in the past 50 years? I notice this includes the Reagan days which raised taxes on the lower half enormously while cutting the top. Imagine if as the boomers retire, SS and Medicare are kept at a 50 year low. Imagine the current high unemployment and if Medicaid, food stamps, etc. are at a 50 year low. I don't think I am crazy but I do think there are a lot of people who are. Why is the language different for defense? How about a "50 year low" target?

What was the "lowest" level of domestic spending in 50 years as a percent of GDP? When did it occur?

[AnnaLee]

11. Update

I found this graph which only leaves the question I asked in the category of DUH...

http://www.factcheck.org/2011/02/obama-bungles-budget-line/

[jtown1123]

6. Holy shit these are all GOP talking points...we're screwed.

[ProSense]

7. Holy shit

the GOP is talking about increasing revenues?

Stop the presses!

[jtown1123]

8. He starts out saying the Gov't spends too much. NONSENSE. We just got out of a recession

"we spend too much" is GOP/Tea fucker manufactured mumbo jumbo...everything else he says is meaningless. We Do NOT have a debt problem. We have a jobs crisis.

[emulatorloo]

9. Bush spent too much, Clinton left a large surplus

[maryellen99]

10. Did you see the ignorant teabagger/repuke replies?

They think he is going to raise taxes. Poor babies,you will never be rich.

[Dawgs]

12. Are you fucking kidding me? No debt problem is worth cutting social programs.

"Still, some of the cuts would target worthwhile programs that do a lot of good for our country. They're cuts that some people in my own party aren't too happy about, and frankly, I wouldn't make them if we didn't have so much debt."

This guy is worse than Reagen and Bush I combined.

NO DEBT PROBLEM IS WORTH CUTTING SOCIAL PROGRAMS.

And, this guy calls himself a Democrat. Ha!

[Bluenorthwest]

16. He also calls himself a Christian. But only when opposing gay

people's civil rights. He's fine with stealing from the least among us, his God is not in that mix, it seems.

[blueclown]

15. Excuse me, Mr. President.

Nobody in your party is going to happy with you cutting Medicare and Medicaid, and no Democrat in the Senate will vote for it. So your "grand bargain" will not pass. So you can take your bipartisanship and shut it.

[rug]

17. "I'm willing to cut spending on domestic programs to the lowest level in half a century."

[Hoyt]

18. Dang, I must of read a different OP-Ed -- Seems pretty positive to me.

"Before we ask seniors to pay more for Medicare, we should ask people like me to give up tax breaks they don't need and never asked for."

"I'm willing to cut defense spending by hundreds of billions of dollars."

"But we should also ask the wealthiest individuals and biggest corporations to pay their fair share through fundamental tax reform."


Sure, we still have to wait and see what the final "deal" is.

[thereismore]

21. Agreed. see my post below. nt

[Robbins]

19. Obama

If this Is the approach taken It will not be so bad.There actully In the op ed would be cuts In defense spending.

[thereismore]

20. Obama says BEFORE we cut programs, we need to raise revenue. He says it several times.

That means, he cannot make a "deal" in which there are just cuts, with a promise of a future look at the tax code. No, I think Obama is saying we need to have revenue increases before or at the same time as cuts. I agree with the President. Ultimately, however, he will do this alone. The repigs are not going along with this.