Oh goody: Obama to Propose New Deficit-Cutting Plan, Plouffe Says

[cali]

U.S. President Barack Obama will announce a long-term deficit cutting plan, said White House adviser David Plouffe. Photographer: Olivier Douliery/Pool via Bloomberg

President Barack Obama, following up on the budget deal he reached with congressional leaders that averted a government shutdown, will announce long-term proposals this week for cutting the federal deficit, White House adviser David Plouffe said.

The president will set specific deficit-reduction targets and a timeline for reaching them, Plouffe said on CNN’s “State of the Union.” Obama will use a “scalpel, not a machete” and take a “balanced approach,” Plouffe said on “Fox News Sunday.”

The tense negotiations between Obama and congressional leaders that produced a last-minute deal two nights ago to keep the government operating underscored the difficulties to come. Within weeks, the government may be forced to increase the $14.3 trillion federal debt ceiling to ensure the U.S. will meet its financial obligations. Republicans said they will demand major concessions on spending before agreeing to raise the debt limit.


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http://www.bloomberg.com/news/2011-04-10/obama-to-propose-specific-long-term-plan-to-reduce-deficit-plouffe-says.html

[rurallib]

1. I for one have nearly lost all faith in Obama

the last two fiascos have cost us all dearly

[cali]

4. It makes me feel slight ill that I feel that way

[somone]

2. The Show Must Go On

[polly7]

3. Risking gov't shutdown, ending 'entitlements' .... just end the fucking

wars already.

Do they not see what these wars are costing? Human lives don't seem to be a major concern, I thought wasting money on them might be. I was wrong. (By they, I include our own Bush wannabe, no eggs please: - )

[bluestate10]

5. Since the House democratic leadership has and is failing to stop

toxic legislation from getting out of the House, President Obama trying to shape the battle before it starts makes sense.

[grahamhgreen]

6. 81% of Americans want to tax the rich, 63% out of Afghanistan. That's a real deficit plan.

[Tierra_y_Libertad]

7. Raising taxes is one way to cut a deficit. Not to mention ending lost wars.

[DrDan]

8. '"balanced" - why does that make me nervous?

[originalpckelly]

10. Don't worry...

the cuts will be fair and balanced.

[originalpckelly]

9. Obama's guy might just as well have said fair and balanced cuts.

Then we would have known what he really meant.

[Tatiana]

11. I never thought I'd see the day when I longed for the days of Bill Clinton.

But the current administration really does highlight the stark differences in leadership. Personal failings aside, when it came to the budget, Clinton set the tone and did not hesitate to raise taxes on the wealthy no matter how the wingnuts attacked him. He stood his ground. Obama seems to still be stuck in "Right wingers, please like me... I agree with you more than you think!" mode.

Outside of some good Supreme Court nominations and a few pieces of legislation, this Presidency has been a big disappointment. People are going to needlessly suffer because of this administration's lack of leadership.

[pscot]

18. I've been thinking the same thing

The saddest and most vexing aspect is the squandered opportunity. He could have made a real differnce. He chose not to.

[Mojorabbit]

19. Yes, that is the worst thing in my opinion

He could have been a legendary president. The potential was there, he could have used his bully pulpit to get the population behind him for a bold plan for the future. I still am really surprised at his failure of leadership and his support of so many Bush policies.

[ProSense]

12. USA Today: "In his speech, Obama will say..."

Obama to deliver speech on deficit reduction this week

<...>

Obama will address cuts to defense and domestic spending, as well as what to do with the growing entitlement programs of Medicare, Medicaid and Social Security, Plouffe said. He will talk about "dollar amounts" over "a period of years."

<...>

Plouffe said on ABC's This Week With Christiane Amanpour that Obama does not believe Social Security to be "a significant driver in our deficit in the short term." But he added, "if there's a way to strengthen Social Security that doesn't hurt retirees and beneficiaries in the short term, and doesn't slash benefits in the long term, he's willing to work with Congress on this."

As part of deficit reduction, Obama will continue to fight for the expiration of George W. Bush-era tax cuts for the wealthiest taxpayers, Plouffe said. Obama and congressional Republicans agreed to a two-year extension of those tax cuts in December in order to prevent expiration of all the Bush tax cuts for all taxpayers.

In his speech, Obama will say that "people like him .., who've been very fortunate in life, have the ability to pay a little bit more," Plouffe said on NBC's Meet The Press.

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[originalpckelly]

13. If it's anything like healthcare...

Retirees will end up paying big corporations every month for the right to retire.

[ProSense]

14. Yup, it would be

horrible!

[boston bean]

20. they "say" a lot of stuff that sounds great...

then fuck you over.

[xchrom]

15. Tax the rich, end corporate welfare, cut DoD,

End the wars, renegotiate our 'free trade' pacts.

Then see where we stand.

[kentuck]

16. It better be "big".

Boehner said the Repubs would have to see "something big" before they could agree to increasing the debt limit...

[upi402]

17. Cantor telling the American people what the American people want

And we need to stop propganda TV because it's harming America. We need to regulate it.

But Obama gives interviews to Fox while shunning liberal outlets. Brilliant.