President Obama’s Budget Speech

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    Here is the White House Fact Sheet, “THE PRESIDENT’S FRAMEWORK FOR SHARED PROSPERITY AND SHARED FISCAL RESPONSIBILITY.” A few major points:

    *”$4 Trillion in Deficit Reduction”

    *”Debt on a Declining Path, Backed Up By An Across the Board ‘Debt Failsafe’ Trigger”

    *”Balance Between Spending Cuts and Tax Reform”

    *”Shared Sacrifice from All, Including the Most Fortunate Americans”

    *”Bipartisan, Bicameral Negotiations on a Legislative Framework”

    *”The President’s framework includes a target of $360 billion in savings from other mandatory programs by 2023″

    *”…the President is calling for individual tax reform that closes loopholes and produces a system which is simpler, fairer and not rigged in favor of those who can afford lawyers and accountants to game it.”

    *”Additional Discipline on Security Spending While Keeping America Safe”

    *”The President does not believe that Social Security is in crisis nor is a driver of our near term deficit problems…the President supports

    bipartisan efforts to strengthen Social Security for the long haul.”

    *”A major contrast with the House Republican approach. The President’s framework rejects plans that would end Medicare as we know it or transform Medicaid into a dramatically underfunded block grant, putting at serious risk not only seniors but also the most vulnerable children and people with disabilities.”