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Home Front: Politix
Obama Urges Balanced Approach to Deficit Reduction
2013-02-11
The Obama definition of balance: he increases spending while Congress raises taxes to partially cover it.
[An Nahar] U.S. President Barack Obama
I inhaled. That was the point...
urged Congress Saturday to find a balanced approach to deficit reduction, warning that steep budget cuts known as "the sequester" would hurt the economy and threaten thousands of American jobs.

"If the sequester is allowed to go forward, thousands of Americans who work in fields like national security, education or clean energy are likely to be laid off," Obama said in his weekly radio and Internet address.

"All our economic progress could be put at risk," he added.

The cuts, which are due to take effect on March 1, would also affect U.S. military readiness, said the president.

"As our military leaders have made clear, changes like this affect our ability to respond to threats in an unstable part of the world," Obama pointed out.

The sequester was agreed by the president and Congress in 2011 to be so punishing that it would force Washington's warring political factions to forge an agreement on a way to cut the U.S. budget deficit.

But amid partisan gridlock, no agreement on cutting the deficit has been reached and cuts due in March will slash defense spending by $55 billion and non-defense discretionary spending by $27 billion this year.

On Friday, the White House issued a doom-laden survey of the impact of sequestration.

It said 10,000 teacher jobs were at risk, food inspections could stop, 373,000 mental health patients would lose treatment and prosecutors could be furloughed.

The FBI would have 1,000 fewer officers, small business loans would be cut by $540 million, and around 600,000 women and kiddies could lose government-funded emergency nutrition, according to the White House.

"The good news is, there's another option," Obama said.

He reminded his audience that two months ago, the White House and Congress faced a similar prospect of deep cuts and tax hikes, known as the "fiscal cliff".

On that occasion, said the president, Democrats and Republicans managed to come together and make "responsible cuts and manageable changes to our tax code" to pull back from the brink.

"This time, Congress should pass a similar set of balanced cuts and close more tax loopholes until they can find a way to replace the sequester with a smarter, longer-term solution," Obama said.
Posted by:Fred

#11  A balanced approach means you do it my way.
Posted by: JohnQC   2013-02-11 14:54  

#10  J'ai l'air d'un gars intelligent, mais je suis vraiment un idiot du village perdu.

O and John Kerry, two members of adjoining villages.
Posted by: Winky Thaitch5539   2013-02-11 13:11  

#9  
Posted by: junkiron   2013-02-11 12:04  

#8  "All our economic progress could be put at risk," he added.

Classic Obamesian economics (failure = progress).
Posted by: Besoeker   2013-02-11 10:16  

#7  The sequester was his idea. The Republicans called his bluff on it and now he's trying to put the stink of it back on the Republicans.
Posted by: Deacon Blues   2013-02-11 10:15  

#6  "All our economic progress could be put at risk," he added.

If this is 'economic progress', let the sequester happen.
Posted by: Raj   2013-02-11 10:08  

#5  "Balanced", do it MY way.
Or else.
But DON'T stop Over spending.
Posted by: Redneck Jim   2013-02-11 09:56  

#4  What about the EPA wasting money fighting lawsuits against its truly absurd regulations?
Posted by: Anguper Hupomosing9418   2013-02-11 05:36  

#3  What about Alphabet Agency SWAT teams?
Posted by: Anguper Hupomosing9418   2013-02-11 05:20  

#2  It said 10,000 teacher jobs were at risk, food inspections could stop, 373,000 mental health patients would lose treatment and prosecutors could be furloughed.

What about bunny inspectors?
Posted by: g(r)omgoru   2013-02-11 01:33  

#1  Fear notteth, America = Amerikka, MEXICO + GREENLAND + CANADA will rescue us once we surrender to OWG + NAU 2015!
Posted by: JosephMendiola   2013-02-11 00:40  

00:00