The President in his weekly address emphasized what the both parties agreed with on the budget. He said, they agreed that the US should not default on its debts.
The budget talks would have repercussions on every aspect of our lives. The President talked about job creation on Friday. He said, a million construction workers out of jobs.
The President is to have a talk about the deficit on Sunday with both Democratic and Republican congressional leaders.
Ending 15% rate on carried interests would generate $20 billion, ending LIFO accounting would raise about $70 billion, ending oil company subsidies would generate $40 billion, ending tax breaks for corporate jets would generate $3 billion, phasing out deductions for those with income of $500,000 a year would bring more than $200 billion. Ending the Bush-era tax cuts for wealthy 2% would save $700 billion over a decade.
In his weekly address, the President addressed the issues of the military expenses and entitlements. The decisions to keep the balance of the budgets while saving the vital investments to education, infrastructure, clean energy, science, research and technologies will shape the future of the nation as well as the world.
The President called out for the leaders of both parties to put aside the party differences and work out for the nation.
Let us hope the lawmakers will reach sensible agreements on this issue.
The budget talks would have repercussions on every aspect of our lives. The President talked about job creation on Friday. He said, a million construction workers out of jobs.
"in order to reduce the deficit,what costs would you cut and what investments would you keep - bo" (President Obama)
The President is to have a talk about the deficit on Sunday with both Democratic and Republican congressional leaders.
Ending 15% rate on carried interests would generate $20 billion, ending LIFO accounting would raise about $70 billion, ending oil company subsidies would generate $40 billion, ending tax breaks for corporate jets would generate $3 billion, phasing out deductions for those with income of $500,000 a year would bring more than $200 billion. Ending the Bush-era tax cuts for wealthy 2% would save $700 billion over a decade.
In his weekly address, the President addressed the issues of the military expenses and entitlements. The decisions to keep the balance of the budgets while saving the vital investments to education, infrastructure, clean energy, science, research and technologies will shape the future of the nation as well as the world.
The President called out for the leaders of both parties to put aside the party differences and work out for the nation.
Let us hope the lawmakers will reach sensible agreements on this issue.