Obama still wants a “big and meaningful” deficit reduction package

posted at 12:30 pm on July 22, 2011 by Tina Korbe

President Barack Obama writes in USA Today that he still thinks now is the time to address the deficit in a “big and meaningful” way — even though the president has yet to propose a concrete plan and the debt ceiling deadline is little more than a week away.

In the op-ed, the president’s words sound measured and reasonable, but they gloss over the inconvenient reality that the president said he would veto the only “big and meaningful” plan that was on the table — the Cut, Cap and Balance legislation that had the support of the vast majority of Americans, but still failed the Senate this morning.

The president emphasized the importance of spending cuts and entitlement reform, but he also reiterated his calls for a “balanced approach” to deficit reduction.

Yes, we should make serious spending cuts. But we should also ask the wealthiest individuals and biggest corporations to pay their fair share through fundamental tax reform. Before we stop funding clean energy research, we should ask oil companies and corporate jet owners to give up the tax breaks that other companies don’t get. Before we ask college students to pay more, we should ask hedge fund managers to stop paying taxes at a lower rate than their secretaries. Before we ask seniors to pay more for Medicare, we should ask people like me to give up tax breaks they don’t need and never asked for. …

A balanced deficit deal that includes some new revenues isn’t just a Democratic position. It’s a position that has been taken by everyone from Warren Buffett to Bill O’Reilly. It’s a position that was taken this week by Democrats and Republicans in the Senate, who worked together on a promising plan of their own. And it’s been the position of every Democratic and Republican leader who has worked to reduce the deficit in their time, from Ronald Reagan to Bill Clinton.

The president’s claims of bipartisanship sound nice, but they’re not perfectly accurate. Bill O’Reilly, for example, has supported closing certain loopholes in the tax code, lowering income tax rates and implementing a sales tax of 1 percent or so — but he hasn’t exactly been on his show night after night arguing for tax hikes.

“I don’t know what President Obama is referring to, but we’ve been pretty consistent in telling everyone the tax code has to be reformed,” O’Reilly said this morning on Fox News in response to the president’s op-ed. “I’m mad at both the left and the right here because they’re both not listening to what I have to say. … [What the president wrote] is not accurate in the sense that I’m advocating any tax rate hikes. They’re parsing. … It’s all a bunch of games. Both sides play games. … We the American people can strengthen the nation by being smart, by surgical revenue enhancers and at the same time drastic spending cuts.”

In general, the president’s op-ed amounts to the same old tired suggestions — and still no real plan. It’d be one thing if the Gang of Six plan had been prepared weeks in advance, if Congress had had time to debate and amend it, if the American people had had a chance to appraise it — then the president would have been perfectly justified in speaking of it as “a promising plan.” The McConnell compromise, of course, isn’t a deficit reduction package at all. As it is, the president and the Senate said “no” to the only plan that was prepared ahead of the deadline (a deadline the president has insisted is hard and fast!).

Update: This post was written before the Senate failed CCB, but published after the Senate vote, so it originally made it sound like the Senate hadn’t yet voted. It has been updated to reflect the outcome of the Senate vote.


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President Barack Obama writes in USA Today that he still thinks now is the time to address the deficit in a “big and meaningful” way…

Anyone check to see if Bill Ayers ghost-wrote this piece?

pilamaye on July 22, 2011 at 12:32 PM

Mr President, at some point, it just doesn’t pass the laugh test.

JohnGalt23 on July 22, 2011 at 12:33 PM

YOu guys sleeping over here. Major pisslamic jihad attack in Norway.

Western_Civ on July 22, 2011 at 12:33 PM

He can’t make a deal, he really would rather us go over a cliff.

rob verdi on July 22, 2011 at 12:35 PM

It would be better to just raise the debt ceiling than to raise taxes…

ninjapirate on July 22, 2011 at 12:35 PM

So tuition costs are raised because Hedge Fund managers arent paying “their fair share of taxes”… huh?

And the idiot did keep corporate jet owners in.

Does anyone really question the fact we have 90IQ novice at the helm of POTUS?

Odie1941 on July 22, 2011 at 12:35 PM

Can some reporter ever ask a Dem to put a number on what they mean when they say, “wealthiest individuals and biggest corporations to pay their fair share?”

Howabout this question: What share of the cost of the federal government should be born by the top 1% income earners? Top 5%?

WashJeff on July 22, 2011 at 12:37 PM

He needs to be careful what he wishes for.

The American people are prepared to submit the largest spending and debt reduction package ever seen in this country.

Its called..default.

BobMbx on July 22, 2011 at 12:37 PM

It’s almost criminal what Obama is doing here. Continuing his class warfare, convincing a large swath of dumb Americans that we can solve our budget problems just by squeezing some more money out of “the rich,” and completely denying his own culpability in exploding the national debt and refusing to demand that leaders of his own party pass a budget.

It is the sorriest performance ever by a President of the United States.

rockmom on July 22, 2011 at 12:37 PM

Captain Obama to crew:

“thats not a reef we’re heading for, its a speedbump.”

BobMbx on July 22, 2011 at 12:38 PM

Mr President what is your plan?

Oil Can on July 22, 2011 at 12:39 PM

Its called..default.

BobMbx on July 22, 2011 at 12:37 PM

That’s what he wants. It’s the only thing that makes sense.

BacaDog on July 22, 2011 at 12:39 PM

Talk talk talk.

If he wants a big meaningful package, he’ll need to put one on the table.

forest on July 22, 2011 at 12:39 PM

Obama still wants a “big and meaningful” deficit reduction package

And Miss Universe still wants ‘world peas’.

What’s that got to do with reality?

Sir Napsalot on July 22, 2011 at 12:40 PM

Mr President what is your plan?

Oil Can on July 22, 2011 at 12:39 PM

Careful, Carney will have you thrown out of the press corpse for asking such rude questions.

forest on July 22, 2011 at 12:41 PM

But we should also ask the wealthiest individuals and biggest corporations to pay their fair share through fundamental tax reform

.

Translation: RAISE TAXES! Who cares what it does to the economy.

Chip on July 22, 2011 at 12:41 PM

Obama still wants a “big and meaningful” deficit reduction package

This is EASY TO IMPLEMENT: Obama could just RESIGN NOW!!!

…and he doesn’t need Congressional approval (although he could easily get it)!!

landlines on July 22, 2011 at 12:42 PM

“big and meaningful?”

Care to define that?

Of course that would require both real leadership and risk…something for which Obama is famously averse.

Next option…blame the Republicans for the $14 trillion debt…or use race or class warfare in 5, 4, 3, 2…

coldwarrior on July 22, 2011 at 12:43 PM

Barry likes to “lead from behind”. That’s what community organizers do.

GarandFan on July 22, 2011 at 12:43 PM

Mr President what is your plan?

Oil Can on July 22, 2011 at 12:39 PM

*******************************************

Gut, Grab, and Unbalance.

Gut the private sector, Grab whatever they can and Unbalance the economy.

NMRN123 on July 22, 2011 at 12:44 PM

And repeated it at his town hall

Nothing new…..SSDD

cmsinaz on July 22, 2011 at 12:45 PM

BTW, 700 jobs lost in Toledo this morning as one of the last tenants at Toledo Express Airport calls it quits. Citing the down economy and high fuel prices, BAX will shut down operations.

coldwarrior on July 22, 2011 at 12:45 PM

” O’Reilly said this morning on Fox News in response to the president’s op-ed. “I’m mad at both the left and the right here because they’re both not listening to what I have to say.”

Sorry Bill but I generally consider that a feature not a bug.

tommyboy on July 22, 2011 at 12:45 PM

It will be fun watching the Democrats squirm them they try to explain their vote to America come Aug 2nd or 3rd if all the Chicken Little’s fiction turns into self-fulfilling prophecy.

Assuming that Republican Chick Little’s hold the line.

FloatingRock on July 22, 2011 at 12:45 PM

Odie1941 on July 22, 2011 at 12:35 PM

Cut that number in half, otherwise it is in fantasy realm.

Sir Napsalot on July 22, 2011 at 12:46 PM

CCB is as good as done if Republican’s hold the line. The people demand it.

FloatingRock on July 22, 2011 at 12:47 PM

I wonder whether BOR’s ratings are going to take a hit now that he’s been co-opted by Obama.

BuckeyeSam on July 22, 2011 at 12:47 PM

Bill O’Reilly, for example, has supported closing certain loopholes in the tax code, lowering income tax rates and implementing a sales tax of 1 percent or so

BOR, the same buffoon who threw the Tea Party under the bus last night and called them extremists.

Knucklehead on July 22, 2011 at 12:47 PM

All Republican’s need to cease secret backroom negotiations with the shyster-in-chief.

FloatingRock on July 22, 2011 at 12:48 PM

Mr. President, before you demand that the wealthiest Americans pay their “fair share”, why don’t you ask the half of Americans who are not only not paying taxes, but also getting refunds to pay their fair share?

You can’t demand that the Republicans “compromise” when aren’t willing to put a plan on the table yourself. However, since that would require leadership skills and actually committing yourself to something, we can see why you won’t do it. You’re just a schoolyard bully demanding that others give you their lunch money. I’m sick of this clown. We need a grown-up in charge.

Beaglemom on July 22, 2011 at 12:48 PM

That’s what he wants. It’s the only thing that makes sense.

BacaDog on July 22, 2011 at 12:39 PM

Either that or he is playing “chicken” with Boehner and is convinced Boehner will cave.

I think the emperor Failbama got it wrong and when we default he and Reid will own it, no matter how they spin.

Everyone from my mechanic to Las Vegas CEOs see what’s happening.

dogsoldier on July 22, 2011 at 12:48 PM

PRESIDENT CLOWARD PIVEN speaks…………he lies.

No need for Audio.

PappyD61 on July 22, 2011 at 12:48 PM

Barry likes to “lead from behind”. That’s what community organizers do.

GarandFan on July 22, 2011 at 12:43 PM

Just watch out for his “big and meaningful” package when is behind you.

WashJeff on July 22, 2011 at 12:49 PM

And repeated it at his town hall

Nothing new…..SSDD

cmsinaz on July 22, 2011 at 12:45 PM

The man is a perpetual Marxist class -warfare tape loop.

Try coming up with something new for once sparky.

Isn’t he supposed to be the bestest, the most intelligent, the most Awesome president in the history of womankind?

Chip on July 22, 2011 at 12:50 PM

The Jackass-in-Chief re-defines Leadership as “constantly criticizing anything that works”. Just like the Bush Boom was evidence of “failed economic policies” because the bottom 4% of American earners didn’t get a boom. We have replaced the Bush Failure with the Obama Success, where the bottom 70% didn’t get a Boom–but if you kept your job, shut up and be thankful.

That previous guy was a bigger screw-up than they thought.

rwenger43 on July 22, 2011 at 12:50 PM

Before we ask seniors to pay more for Medicare, we should ask people like me to give up tax breaks they don’t need and never asked for.

Then don’t take the tax breaks and pay extra, obaka.

ladyingray on July 22, 2011 at 12:52 PM

Nero Obama is certainly an ineffectual politician!

He seems out of touch not just with the voters, but with even the Reid-ites in the Senate, who said today that “there is a fundamental lack of trust” between them and the president.

MTF on July 22, 2011 at 12:53 PM

CBO can’t score an op-ed piece, Bambi.

PackerBronco on July 22, 2011 at 12:54 PM

The TEA party has dealt the Republican Party a royal flush and some of them still act nervous, like they’re about to fold.

FloatingRock on July 22, 2011 at 12:54 PM

If you’re posting on Oslo, I’m working on a little roundup, with video: ‘VIDEO: Terrorist Attack in Oslo, Norway’.

Donald Douglas on July 22, 2011 at 12:55 PM

Chip,

All hail dear leader
/

Bleh

cmsinaz on July 22, 2011 at 12:55 PM

That’s what he wants. It’s the only thing that makes sense.

BacaDog on July 22, 2011 at 12:39 PM

Maybe, but if he does he is getting really bad advice. The public might temporarily blame the Republicans, but in the long run it is always the President who get the credit or blame on big things like this. He really doesn’t want to be the first President to allow the U.S. to default.

I think all he really wants here is a GOP cave on taxes, which he thinks will split the Party and ensure his reelection, as well as make him a “winner” with the media. That is the only thing that makes sense to me – he has picked the one thing he knows Republicans cannot cave on, and demanded that and only that as a condition of his agreeing to anything else. It’s a pretty classic tactic.

rockmom on July 22, 2011 at 1:00 PM

Nero Obama is certainly an ineffectual politician!

He seems out of touch not just with the voters, but with even the Reid-ites in the Senate, who said today that “there is a fundamental lack of trust” between them and the president.

MTF on July 22, 2011 at 12:53 PM

he is out of touch with everyone except the media, and that is the problem. He has been very effective at getting the media to attack Republicans for him and absolve him of any responsibility for the mess he created.

It’s like trying to win a basketball game when you know all three referees are calling fouls only on your team.

rockmom on July 22, 2011 at 1:03 PM

Lsm is insisting boehner will have a vote on the BIg deal by Wed

cAVE?

Ugh

cmsinaz on July 22, 2011 at 1:03 PM

The fundamental problem is that Obama says we must not cut food stamps to save military programs. The issue is that food stamps are NOT the role of the federal government. I challenge anyone to show me where in the constitution it says that it is the responsibility of the federal government to provide cash for food to people.

This is “bread and circuses” just like the Romans tried. It doesn’t work. It never has worked. If your government is providing food, then your government has failed.

crosspatch on July 22, 2011 at 1:07 PM

This “Dick” has had plenty of opportunities to address the debt and deficit. He had to be dragged to the party kicking and screaming. Had he addressed this in the budget he proposed not so long ago, we might find ourselves in a much better position today.

bopbottle on July 22, 2011 at 1:09 PM

What is this obsession with Pres. Reagan by The Won?

Cindy Munford on July 22, 2011 at 1:11 PM

call me nuts, but i have a hard time believing hedge fund managers pay lower income taxes than their secretaries. it just doesn’t happen, no matter what warren buffett claims.

TheBlueSite on July 22, 2011 at 1:11 PM

I heard BOR mention the 1% national sales tax last week, and went WTF!! Does he really want the USA to start down that slippery slope?? How long after it is in place does it start to grow to 2%, then 3%, and so on??

ny59giants on July 22, 2011 at 1:13 PM

To all democrats: Once again the Republicans put forth a plan to deal with the debt and deficit and once again you voted it down saying it was the worse legislation ever. Just to let you know almost 2/3 of the American people support the bill that you just voted down. We as a nation are going to hold all democrats responsible for your inaction if and when something bad happens. You will be hounded on the phones, through the mail and at your homes. You will be booed out of local businesses like some already have. You will know no peace.

I find it stunning that you can even sleep at night knowing what you are doing to this country and the people. Maybe what they say about evil having no conscious is true. You will not get away with this and some of those Republican sellouts need to heed this warning also as you will be driven out of public service next election. If you Republican leaders cannot get the job done then please move aside and let others in who can do the job. Get out in front of the public and just tell the truth about what is going on. Americans are not stupid and we see what is going on. If you thought that this last election had awakened the sleeping giant just wait till this next one. This is not a country that you want a riot in the streets and if you think it won’t happen just keep pushing the good people of this nation and see what happens. If it does happen it will dwarf any and all uprisings that have come before in this country or the world. I hope and pray this does not happen but you are leaving less and less of a choice with your inaction.

jistincase on July 22, 2011 at 1:14 PM

”O’Reilly said this morning on Fox News in response to the president’s op-ed. “I’m mad at both the left and the right here because they’re both not listening to what I have to say.”

Sorry Bill but I generally consider that a feature not a bug.

tommyboy on July 22, 2011 at 12:45 PM

Yep, he really did say that. Listen to Ted Baxter and all your problems go away.

slickwillie2001 on July 22, 2011 at 1:20 PM

What he wants and what he should get are two different things and right now the latter is a size ten square in . . .

Ryan Anthony on July 22, 2011 at 1:21 PM

The Debt Ceiling Debate is FUBAR! I blame BOTH sides.

Mutnodjmet on July 22, 2011 at 1:21 PM

If I were Beohner, I would get to a microphone and say, “This deal is too important and too time sensitive to continue behind closed doors. From this point forward, any meeting on raising the debt limit will be attended by CSPAN and the Presidential TV/Cable Pool cameras. That way the American People and the Members of the House can all be constantly updated on our various positions. That way when we reach an agreement it can be promptly acted upon because everyone will know the details.”

Would the MSM take Obama’s position to hide from their camera?

barnone on July 22, 2011 at 1:24 PM

surgical revenue enhancers

Stop playing their semantic games. They’re called TAX INCREASES!!!

conservative pilgrim on July 22, 2011 at 1:25 PM

What is this obsession with Pres. Reagan by The Won?

Cindy Munford on July 22, 2011 at 1:11 PM

It’s not Reagan per se, it’s the 1980 election he’s obsessed with. His campaign strategists keep bringing it up with him.

I’ll give you one guess why that is. ;)

Missy on July 22, 2011 at 1:27 PM

Its called..default.
BobMbx on July 22, 2011 at 12:37 PM

That’s what he wants. It’s the only thing that makes sense.
BacaDog on July 22, 2011 at 12:39 PM

That seems to be the plan, huh? Then real change can occur by fiat executive order.

conservative pilgrim on July 22, 2011 at 1:29 PM

Obama just wants to push the “out years” past Nov 2012 so he can get reelected, which of course is highly dishonest and irresponsible.

I’ve been watching some WWII history shows on TV showing the mechanics of wars between nations, and the importance of doing the right thing, and victory, and defeat. Obama digging us such a deep hole of debt to be paid for decades is a huge defeat for us. As the TV commercial says, now we are “working for China”. To me it’s sad. He’s engineered this defeat, without any reason to do so. With what we owe, Communist China is burying us. They are victorious over us, they rule over us, without firing a single shot.

Paul-Cincy on July 22, 2011 at 1:31 PM

I heard BOR mention the 1% national sales tax last week, and went WTF!! Does he really want the USA to start down that slippery slope?? How long after it is in place does it start to grow to 2%, then 3%, and so on??

ny59giants on July 22, 2011 at 1:13 PM

When the national income tax was instituted in the early 20th century, one congressman (I wish I had the quote) went to the floor and said, with great hyperbole, “if we allow this 1% foot in the door, who’s to say it won’t be increased to 5% one day?”. It was hyperbole for effect. Sorry to say, it’s gone quite above 5% now.

Paul-Cincy on July 22, 2011 at 1:35 PM

Imagine if CCB made it through the Senate and reached him.

I think he would hide under his desk in fear because he would have to make a decision.

VibrioCocci on July 22, 2011 at 1:36 PM

”O’Reilly said this morning on Fox News in response to the president’s op-ed. “I’m mad at both the left and the right here because they’re both not listening to what I have to say.”

Forget it, BOR aka Ted Baxter. Rush reigns over the Relevance Department, and he’s earned it by not selling out.

ziggyville on July 22, 2011 at 1:36 PM

Ryan Anthony on July 22, 2011 at 1:21 PM

Oh who am I kidding? That’s always been what he should get – one of the less incendiary choices, anyhow.

Ryan Anthony on July 22, 2011 at 1:37 PM

he is out of touch with everyone except the media, and that is the problem

Exactly correct, and now that the treasonous corruptocrat Holder is going after Fox they are obviously hoping they can close down the only profitable news operation in the country, thereby making all news organizations dependent on the White House Truth Tsar, Jay Carney. The spin starts there.

MTF on July 22, 2011 at 1:39 PM

Missy on July 22, 2011 at 1:27 PM

I hope he isn’t so deluded to think he is going to see Pres. Reagan reelection numbers.

Cindy Munford on July 22, 2011 at 1:57 PM

That seems to be the plan, huh? Then real change can occur by fiat executive order.

conservative pilgrim on July 22, 2011 at 1:29 PM

Maybe, that’s in the speech he’s making at his birthday party?

Fallon on July 22, 2011 at 2:26 PM

When 0 says the tax cuts he “never asked for” why doesn’t someone point out that every year when he signs his tax return with those deductions listed, he is, in fact, asking for the tax breaks.

Oleta on July 22, 2011 at 2:41 PM

““big and meaningful” deficit reduction package”

As long as it doesn’t make the size and scope of government smaller. Otherwise, you’re an “extremist”.

philmon on July 22, 2011 at 3:14 PM

“Obama still wants a “big and meaningful” deficit reduction package.”

Now, there’s the root of his problem.

coldwarrior on July 22, 2011 at 3:31 PM

When Obama says “Big and Meaningful” I get scared!

gullxn on July 22, 2011 at 3:41 PM