The President Prepares to Produce his Own Budget Plan
After a government shutdown was avoided Friday night (April 8th) with just an hour to spare when a deal was reached on a budget for the rest of the fiscal year, the next fiscal battles ahead between the GOP-led House and the Democratic-led Senate and the White House will be over the debut ceiling and the 2012 budget. Top presidential adviser David Plouffe said yesterday (April 10th) that President Obama will unveil his plan Wednesday (April 13th) to reduce the deficit, including by cutting costs in defense spending, Medicare and Medicaid, and raising taxes on wealthy Americans.Republicans, however, questioned Obama's sincerity on deficit reduction. GOP Rep. Eric Cantor of Virginia said on Fox News Sunday, "For the last two months we've had to bring this president kicking and screaming to the table to cut spending. In my opinion, it's really hard to believe what this White House and the president is saying." For his part, Plouffe questioned the priorities of GOP budget proposals, saying they force seniors, the poor and the middle class to bear more than their fair share of the financial burden. He said, "If you weren't giving enormous tax cuts to millionaires, you wouldn't have to do that."