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Statement by Former Senate Budget Committee Chairman Pete Domenici and Former White House Budget Director Alice Rivlin on President Obama's Budget

ὤTṻnde΄ӂ 2012/02/13 19:07:09

Washington, D.C. - The following is a statement by former
Senator Pete Domenici and Dr. Alice Rivlin, co-chairs of the Bipartisan
Policy Center’s Debt Reduction Task Force, regarding President Obama’s budget submission today:


“We are pleased that President Obama included specific proposals for
deficit reduction in this year’s budget submission, and we hope that our
nation’s fiscal policy will remain a central focus for the
administration and Congress in the coming months. President Obama
should be commended for offering a budget that stabilizes the debt and
builds on the $1 trillion savings in the Budget Control Act, as well as
plans put forth by our Bipartisan Policy Center Task Force and the
Bowles-Simpson Fiscal Commission. His budget also appropriately
replaces the sequester with a comparable set of spending cuts that
reduce low priority programs and increase resources for job creation and
investment.


“While the deficit reduction approach outlined in the president’s
budget is a serious step forward, more is needed. We applaud the
president’s willingness to begin addressing the major drivers of our
debt, including the unsustainable growth of our health care entitlement
programs and need for additional revenues. While his budget stabilizes
debt over the next decade, the real problem arrives thereafter, as
entitlement costs spiral out of control and revenues are inadequate to
deal with a wave of retiring baby boomers.


“We agree with the president that ‘any serious plan to tackle our
deficit will require us to put everything on the table.’ A strong,
bipartisan deficit reduction strategy will combine comprehensive
spending cuts with new revenues. This strategy must include – among
other things – an overhaul of our arcane tax code. The president should
be commended for shifting more of the burden to people who are
benefitting most from the economy, but we continue to believe that
comprehensive tax reform is needed to raise additional revenues.


“As the president has said in the past, ‘we will all need to make
sacrifices,’ and we hope that he continues to clearly explain and
educate the American people about the catastrophic size of our nation’s
debt. We urge the administration and Congress to work together, in a
bipartisan manner, to attack the long-term structural deficit and come
forward with proposals and reforms that will once again put the nation
on a sound fiscal and economic footing. The time to act is now, and we
stand ready to help.”


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Opinions

  • NPC 2012/02/13 19:16:28
    NPC
    How many sacrifices are Barry and The Wookie making ?. Moochelle thinks going to Botsxana, Africa with 40 freinds is "sacrifice" The coast of Spain is real "sacrifice" for the unemployed and homeless ! She thinks traveiling to Hawaii is "sacrifice" ? The Vineyard trips are real "sacrifice" !!!
    Besdies, these two are not in Congress and have no relevance on this farse proposal anyway.
  • ὤTṻnde΄ӂ NPC 2012/02/13 19:18:06
    ὤTṻnde΄ӂ
    +1
    Name-calling makes your comment irrelevant. I didn't read beyond the first line. Grow up.

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