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New Deficit - Reduction Plan

Obama Outlines New Deficit-Reduction Plan and GOP Still Standing...Sorta

Obama pivots, eyes Medicare changes, tax increases

By JIM KUHNHENN, Associated Press Jim Kuhnhenn, Associated Press – 10 mins ago

WASHINGTON – Forcefully rejecting Republican budget cutting plans, President Barack Obama on Wednesday proposed lowering the nation's future deficits by $4 trillion over a dozen years with a package that includes reducing spending on politically sensitive health care programs and raising taxes on high-earning Americans.

The president recommended trimming the growth of Medicare spending, cuts in defense, an overhaul of the tax system to eliminate many loopholes enjoyed by individuals and corporations, and an end to Bush-era tax cuts for wealthier Americans.

"We have to live within our means, we have to reduce our deficit, and we have to get back on a path that will allow us to pay down our debt," Obama said in a combative speech at George Washington University.

Full Article Here

Obama Outlines New Deficit-Reduction Plan

Published April 13, 2011

| FoxNews.com

Drawing a clear line between his budget priorities and a proposal pitched by Republicans, President Obama outlined a new spending plan Wednesday which he claimed would cut the deficit by $4 trillion within 12 years with a combination of spending cuts and tax increases on the wealthy.

Obama, in a speech at George Washington University, positioned his latest spending plan as a more "compassionate" alternative to one introduced last week by GOP Rep. Paul Ryan. He applauded Republicans for putting a plan on the table to address entitlements, but the praise stopped there.

"The way this plan achieves those goals would lead to a fundamentally different America than the one we've known certainly in my lifetime," Obama said, calling their plan "deeply pessimistic."

Read full article here: http://www.foxnews.com/politics/2011/04/13/gop-leaders-raise-alarm-...

John Boehner's Office

E-BULLETIN: WEDNESDAY, APRIL 13

Advancing Our Fight From Saving Billions Of Dollars To Saving Trillions Of Dollars

This week, Congress is moving toward approval of a FY2011 budget agreement that includes the largest spending cuts in history so we begin to help create a better environment for private-sector job growth. The agreement will reduce government spending by $38.5 billion over the next few months and will cut $315 billion over the next decade.

While not nearly enough, these cuts represent a first step in taking our nation off the path to bankruptcy, to giving employers the confidence they need to expand their businesses, and to sparing our children of lives indebted to foreign countries. But I know we need to do much more.

That's why this week, we'll advance our fight from saving billions of dollars to saving trillions of dollars as we turn our full attention to the FY 2012 budget. The GOP budget outlined by House Budget Committee Chairman Paul Ryan, R-Wis., titled "The Path to Prosperity," will help our economy get back to creating jobs, stop Washington from spending money we don't have, and lift the crushing burden of debt that threatens our children and grandchildren.

While Republicans control only one-half of one branch of the federal government, I can assure you we will continue to use our limited power to maximum effect in the effort to end the uncertainty facing job creators and put our economy back on a path to job creation and prosperity.

Sincerely,