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Congresswoman Yvette D. Clarke’s Statement on President Obama’s Deficit Plan

Today, Congresswoman Yvette D. Clarke released the following statement after President Barack Obama outlined his plan to reduce our nation’s debt over the next ten years:

“Today, President Barack Obama presented his deficit reduction plan which acknowledges that we cannot sacrifice the programs and resources for the poor, working poor, aspiring middle class and middle class while protecting tax cuts for the rich.  We can no longer cut taxes for the rich and large corporations and expect the rest of the nation to foot the bill,” stated Congresswoman Yvette D. Clarke

    President Barack Obama’s Deficit Plan includes;

                    • reducing the deficit by $4 trillion in 12 years or less; 
                    • eliminating Bush tax cuts for the wealthiest Americans;
                    • finding additional savings in our defense budget;
                    • to reduce health care spending;
                    • reforming our tax code; and much more. 

 “As Congress addresses our national debt, I remain gravely concerned that Republicans will continue to hold on to the antiquated fiscal policies of the previous administration that led us to this enormous deficit and economic downturn.  The Republican 2012 FY Budget proposes a further 10 percent tax cut for the wealthiest of individuals in the nation, adding $1 trillion to the deficit. This is irresponsible and does nothing to help this nation spur economic growth,” added Congresswoman Clarke.

“While I am encouraged by President Obama’s commitment to save Medicare, Medicaid and Social Security,  I will continue to closely monitor this process as it unfolds and fight against the egregious cuts that directly affect our nation’s aspiring middle class, middle class, and the nation’s most vulnerable populations,” said Congresswoman Yvette D. Clarke.