GOP, liberals rail against budget plan
WASHINGTON — Seeking an elusive middle ground, President Obama is proposing a 2014 budget that embraces tax increases abhorred by Republicans as well as reductions, loathed by liberals, in the growth of Social Security and other benefit programs.
The plan, if ever enacted, could touch almost all Americans. The rich would receive tax increases, the poor and the elderly would get smaller annual increases in their benefits, and middle income taxpayers would slip into higher tax brackets despite Obama's repeated vows not to add to the tax burden of the middle class. His proposed changes, once phased in, would mean a cut in Social Security benefits of nearly $1,000 a year for an average 85-year-old, smaller cuts for younger retirees.
Obama proposed much the same without success to House Speaker John Boehner in December. The response Friday was dismissive from Republicans and hostile from liberals, labor and advocates for the elderly.
The proposal aims to tackle deficits that are adding to the national debt and placing a long-term burden on the nation, prompting praise from independent deficit hawks. It proposes new spending for public works projects, preschool education, and job and benefit assistance for veterans.
“It's not the president's ideal approach to our budget challenges, but it is a serious compromise proposition that demonstrates that he wants to get things done,” said White House press secretary Jay Carney.
The budget, which Obama will release on Wednesday to cover the budget year beginning Oct. 1, proposes spending cuts and revenue increases that would result in $1.8 trillion in deficit reductions over 10 years. That figure would replace $1.2 trillion in automatic spending cuts that are poised to take effect over the next 10 years if Congress and the president don't come up with an alternative, thus delivering a net increase in deficit reduction of $600 billion.
Counting reductions and higher taxes that Congress and Obama have approved since 2011, the 2014 budget would contribute to $4.3 trillion in total deficit reduction by 2023.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Buffet: Berkshire’s built to last
- Most young Republicans back legal marijuana
- French bulldog joins top 10 list in U.S.
- Perceived slights have some New Yorkers longing for Pennsylvania
- Alabama woman set for trial in granddaughter’s running death
- Justices seem sympathetic to hijab-wearing interviewee
- Heavy snow cuts power, snarls travel across South
- Mo. gunman kills 7, self, in rampage
- Huge, ancient quasar could alter theories on black holes
- Florida fisherman’s high court win spurs call for legal reform