Author Topic: Duh Wun's "Budget Plan" THIS WEEK.  (Read 1177 times)

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Online Pandora

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Duh Wun's "Budget Plan" THIS WEEK.
« on: April 11, 2011, 02:47:10 PM »
Obama’s budget plan this week will cut health care provisions for the elderly and the poor.[/quote]

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The Telegraph reported:

    Barack Obama will this week propose cuts in health care provision for the elderly and the poor as he seeks to reach agreement with Republicans on bringing America’s record levels of debt under control.

    Aides said that in a major speech on Wednesday the US president will lay out plans that will include reform of Medicare and Medicaid, the major subsidised health care schemes that are among the main causes of the country’s $14.25 trillion (£8.7 trillion) national debt.

    “The president will be laying out his approach to long-term deficit reduction,” said David Plouffe, a senior adviser at the White House, adding that the president would call on both sides to compromise.

    “If we are going to make progress the parties are going to have to come together to find common ground,” he said.

    Mr Obama was last week forced into accepting $38.5 billion (£23.5 billion) in cuts demanded by Republicans for other types of spending in order to secure a last minute deal to keep the government running for the rest of the financial year.

Here we go again:  cuts to the poor, blamed on the Republicans.  *sigh*

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The Obama White House admitted today that their first budget plan they proposed a month ago was a joke. Obama White House senior adviser David Plouffe announced today that they would come out with another try later this week.

We all knew Obama punted on the deficit and debt a month ago.

Obama’s original plan would double the deficit in five years and triple it in ten years.

Investor’s reported:

    President Obama plans a Wednesday speech laying out new ways to cut the deficit and address America’s long-term fiscal woes, including entitlements, White House aides said Sunday.

“You’re going to have to look at Medicare and Medicaid and see what kind of savings you can get,” Obama adviser David Plouffe said on NBC’s “Meet the Press.”

    That is a tacit admission by the White House that its 2012 budget plan wasn’t serious. Obama released a plan that would double the federal debt over 10 years and steered clear of entitlements. It would put the U.S. at risk of losing its AAA sovereign debt rating in 2018, if not earlier.

    Even many liberal pundits criticized Obama for essentially punting on America’s budget crisis and ignoring the work of his own Fiscal Commission.

    House Budget Committee Chairman Paul Ryan’s “Path To Prosperity” is the first serious effort by a major political party to address America’s budget woes in decades. It would bring federal spending back into line with historical norms, prevent a dangerous debt spiral and eventually balance the budget, while also addressing entitlements and reducing marginal tax rates.

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