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Thread: President Obama seeks $3 trillion to $4 trillion in cuts

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    President Obama seeks $3 trillion to $4 trillion in cuts

    Washington (CNN) -- President Barack Obama is seeking $3 trillion to $4 trillion in deficit cuts over the next decade, a move that would require putting Social Security, Medicare, defense spending and tax reform on the table as part of a balanced approach to cuts, Democratic officials familiar with the negotiations told CNN.

    The officials, speaking on condition of anonymity, did not say what types of cuts would have to be considered under such a proposal. In the past, one Social Security adjustment debt negotiators have discussed is cost-of-living.

    The news comes as top Republican and Democratic congressional leaders head to the White House Thursday to negotiate a deal to tackle mounting deficits and allow an increase in the federal debt ceiling.

    The House returned to work Wednesday from its Fourth of July break, a day after the Senate cut short its recess to come back to Washington. Democrats and Republicans are at sharp odds over what sort of conditions should be attached to a hike in the current $14.3 trillion debt ceiling.

    A congressional aide, close to the negotiations, said the only real talks going on are between Obama and House Speaker John Boehner, who are discussing "in good faith" a $4 to $5 trillion debt reduction package.
    Officials: President Obama seeks $3 trillion to $4 trillion in cuts - CNN.com

    A deal must be reached, and must be reached soon.

    Everyone needs to give and take, the president is giving, whether Boehner is taking will be seen shortly I'm sure.

    But if Republicans or democrats in congress for that matter are going to push this bull**** all the way to dead line... then the only people that lose are the American people, who gains politically, I have no idea really.

    For those who say "don't raise it". I actually in a way hope they don't raise the debt ceiling, so you can see what truly ignorant screw balls you really are.

    But all in all, exciting times. Take it away Bobby.

    Come gather round people
    Wherever you roam
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    Around you have grown
    And accept it that soon
    Youll be drenched to the bone.
    If your time to you is worth savin
    Then you better start swimmin or youll sink like a stone
    For the times they are a-changin.

    Come writers and critics
    Who prophesize with your pen
    And keep your eyes wide
    The chance wont come again
    And dont speak too soon
    For the wheels still in spin
    And theres no tellin who that its naming.
    For the loser now will be later to win
    For the times they are a-changin.

    Come senators, congressmen
    Please heed the call
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    For he that gets hurt
    Will be he who has stalled
    Theres a battle outside and it is ragin.
    Itll soon shake your windows and rattle your walls
    For the times they are a-changin.

    Come mothers and fathers
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    The line it is drawn
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    As the present now
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    Re: President Obama seeks $3 trillion to $4 trillion in cuts

    3-4 Trillion over a decade sounds like a great idea but is anyone really buying that? Even if they actually cut it by that much without accounting manipulation to show a better result then will actually be achieved, within the decade we will just add more spending and will probably gain little.

    But its a start!

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    Re: President Obama seeks $3 trillion to $4 trillion in cuts

    The nation cannot raise its debt ceiling and default on its creditors! Something has to be done to show we intend to pay our debts.

    I take this very seriously and I hope our leaders do take it equally seriously indeed. I won't tolerate any lightheartedness on this topic.
    Last edited by Иосиф Сталин; 07-07-11 at 07:43 AM.

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    Re: President Obama seeks $3 trillion to $4 trillion in cuts

    I don't think this is going to help.

    It's too little too late and what is needed is comprehensive changes across the board, Starting with dumping unions, because they are a major part of the problems from Coast to Coast.

    Next cut all Government pay rates including Obama and all of Congress and their perks.

    Bring all defense contracts home to give Americans the jobs.

    Stop all the crazy stimulus spending because it has shown to be a failed policy.

    There is much more that can be done and none of it is about raising taxes because we know it hurts more than it helps.

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    Re: President Obama seeks $3 trillion to $4 trillion in cuts

    Quote Originally Posted by Councilman View Post
    I don't think this is going to help.

    It's too little too late and what is needed is comprehensive changes across the board, Starting with dumping unions, because they are a major part of the problems from Coast to Coast.
    What the hell do unions have to do with the Federal Government, federal employees can't unionize...

    You know its incredible that in a time of economic strife that was caused by politicians and corrupt Wall Street Companies selling products and betting against them on the stock market, that the people being demonized at this moment are teachers, firefighters... pretty much anyone who dared unionize prior to this latest wave of union hatred.

    Next cut all Government pay rates including Obama and all of Congress and their perks.
    I could get on board with that.

    Stop all the crazy stimulus spending because it has shown to be a failed policy.
    Whether it failed or not will be a debate that could last 1000 years.

    I personally think it didn't do as well as it could have, but it certainly stabalized a rather dire situation.

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    Re: President Obama seeks $3 trillion to $4 trillion in cuts

    Quote Originally Posted by Councilman View Post
    I don't think this is going to help.

    It's too little too late and what is needed is comprehensive changes across the board, Starting with dumping unions, because they are a major part of the problems from Coast to Coast.

    Next cut all Government pay rates including Obama and all of Congress and their perks.

    Bring all defense contracts home to give Americans the jobs.

    Stop all the crazy stimulus spending because it has shown to be a failed policy.

    There is much more that can be done and none of it is about raising taxes because we know it hurts more than it helps.
    I actually agree with more than half of those. What is the world coming to?
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    Re: President Obama seeks $3 trillion to $4 trillion in cuts

    I'm almost of the opinion that the democrats shouldn't even bother offering anything until like the day before the deadline, because we all know nothing will be agreed upon until then anyway.
    For: legalizing drugs, gay marriage, abortion, guns, universal health care, public sector jobs, nuclear power, free education, progressive taxation
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    Re: President Obama seeks $3 trillion to $4 trillion in cuts

    Quote Originally Posted by atrasicarius View Post
    I'm almost of the opinion that the democrats shouldn't even bother offering anything until like the day before the deadline, because we all know nothing will be agreed upon until then anyway.
    I hate to admit it, but that is very likely what will happen.

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    Re: President Obama seeks $3 trillion to $4 trillion in cuts

    Quote Originally Posted by Councilman View Post
    I don't think this is going to help.

    It's too little too late and what is needed is comprehensive changes across the board, Starting with dumping unions, because they are a major part of the problems from Coast to Coast.
    The federal employees are not allowed to be in a union... and so much for the right of people to do what they want eh? Your solution is basically to tell people what they can and can not do.. you are a bloody communist!

    Next cut all Government pay rates including Obama and all of Congress and their perks.
    Well that is a double edged sword since lower pay rates could mean an even bigger tendency to accept bribes. Plus Congress has had the possibility to do this for ages, and all the Tea Party deficit hawk hypocrites are milking everything they can from Congress on this front. So when even the people who are suppose to be penny pinchers are spending like no tomorrow, then well.. good luck on that! I remember a Tea Party freshman asking his first question...when was he and his family going to get the Federal health insurance... and the same man was against public funding of health insurance... hypocrites! Or the GOP politicians that demanded massive cuts, but when asked if they were going to cut their own staff and costs, they pretty much all said no... HYPOCRITES!

    Bring all defense contracts home to give Americans the jobs.
    Most are... and when they are given to non Americans, then the US congress with the GOP in the front demand a new biding process and the "correct" result..

    Stop all the crazy stimulus spending because it has shown to be a failed policy.
    Another right wing fantasy... you have NO idea what would have happened if there was no stimulus spending.. and also, quite a large part of the stimulus spending was spent by GOP members who were against the stimulus!.. there are plenty of big check moments where GOP including Tea Party idiots are taking credit for getting stimulus money to their local community...

    There is much more that can be done and none of it is about raising taxes because we know it hurts more than it helps.
    Well cutting taxes wont work either, since they are at record lows... how about getting rid of subsidies and corporate tax breaks and loopholes?
    PeteEU

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    Re: President Obama seeks $3 trillion to $4 trillion in cuts

    I'll take it along with a debt ceiling increase, but this is pittience and if past suggestions by the President are looked at there's a good chance this "3 to 4 trillion" is similar to how Dan Snyder is paying Albert Haynesworth "100 million" dolalrs (IE, he isn't).

    If it is ACTUALY 350 billion dollars every year, that's good. Not great, good. However, if its a few billion for the first 4 or 5 years and its all back loaded into years 5 through 10, years which could easily be ignored through additional legislation after the fact, then its rather useless.

    Not to mention knocking our average 1 trillion addition to the debt down to 650 billion per year, while like I said is good, is hardly great and still by the end of the decade leaves us with 6.5 trillion of additional debt instead of 10 trillion.

    Still, its something and IF its not backloaded it's more than was done during the budget debate earlier this year. IF we could hit around the 4 Trillion mark which is within both Obama's (3-4T) and Boehners (4-5T) range and its not all backloaded, I'd be fine with the Republicans agreeing to such now and then beginning the fight for more significant cuts on the 2012 budget.

    If its majorly backloaded and basically assures that it'll never see the light of day, then its worthless.

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