STATEMENT: CAP: President’s Plan is Sensible, Responsible, and Realistic but More Revenues Could Be Added for Additional Savings
Washington, D.C. –The Center for American Progress released the following statement on the president’s budget speech today:
"Today the president laid out a sensible, responsible, and realistic approach to deficit reduction that dramatically alters the trajectory of our country’s fiscal future. The president’s plan puts us on a much more sustainable path, and most importantly, would do so without putting further burdens on seniors and an already-struggling middle class.
President Obama’s plan is in stark contrast to the recent proposal from Republicans in the House of Representatives. Their plan would slash public services for the middle class, renege on promises made to senior citizens, fundamentally undermine the social safety net, and raise taxes on the middle class—all to pay for even more tax cuts for those who need them the least. Instead of asking the middle class, the poor, and seniors to shoulder the entire burden of deficit reduction, President Obama would spread responsibility for deficit reduction much more equitably, and in so doing, strengthen the middle class and protect Medicare and Medicaid.
While we respect the president’s plan, and it is a responsible plan for final agreement, we note that there are additional revenues that can be added and additional savings in the Pentagon budget that will not affect national security or economic growth. President Obama’s call for a balanced deficit reduction package is a breadth of fresh of air especially after the foul wind of the Republican budget plan that undermines our country’s core commitments to the middle class."