In a national address today, President Obama proposed spending cuts he said would total $4 trillion over the next few years. He said he would limit growth in national defense and security spending to the rate of inflation. He also proposed simplifying the tax code.
Senator Michael Bennet released these remarks:
“Last month, 64 Senators signed a letter to the President highlighting the need for a comprehensive deficit reduction plan that includes discretionary spending reductions, changes in entitlements and tax reform. Today, the President made clear that he wants to work toward a comprehensive plan. In the Senate, I am committed to crafting a bipartisan solution and supporting the efforts of the ‘gang of six,’ which is building on the foundation laid out by the Fiscal Commission.
“We should enact a comprehensive plan this year to signal to our markets and global competitors that we are serious about creating a more sustainable fiscal course.”
U.S. Rep. Jared Polis released this statement:
“President Obama offered a smart and balanced approach to the budget that will cut $4 trillion from the deficit while protecting Medicare, growing our economy, and creating jobs for the middle class. While there are still details of the plan to review, I am pleased that the president is restoring sanity to the debate over the deficit and rejecting Congressional Republicans’ radical plan to end Medicare as we know it.
“The president’s approach builds on the important work of the Bipartisan Fiscal Commission and the $1 trillion in deficit reduction in the President’s 2012 budget. I am particularly pleased that the president has pledged to achieve $400 billion of savings at the Pentagon, which has too long wasted taxpayer dollars on weapons systems that aren’t needed or don’t work.
“I look forward to reviewing the president’s deficit plan in full and I thank him for his leadership.”