Posted by: arnegrim | April 11, 2011

Will Obama suffer same vitriol as GOP?

“President Obama plans to outline a fresh multiyear plan to cut the federal deficit by raising taxes on the wealthy and limiting government health benefits for the poor and elderly in what the White House says will be a major speech to the nation Wednesday…

…That $3.7 trillion plan would cut $1.1 trillion from the deficit over 10 years. In December, Obama’s bipartisan fiscal commission voted 11-7 on a plan that recommended $3.9 trillion in reductions over a decade. House Republicans are aiming for even more dramatic cuts. In a blueprint issued last week, Budget Committee Chairman Paul Ryan of Wisconsin called for $5 trillion in cuts over the next decade.”


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