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The President believes this is a make or break moment for the middle class and those working to reach it. That’s why he has put forward a blueprint for an economy built to last - one where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same rules.
Today at the Associated Press Luncheon, the President discussed how his vision differs with the radical vision laid out in the House Republican Budget:
“This Congressional Republican budget, however, is something different altogether. It’s a Trojan Horse. Disguised as deficit reduction plan, it’s really an attempt to impose a radical vision on our country. It’s nothing but thinly-veiled Social Darwinism. It’s antithetical to our entire history as a land of opportunity and upward mobility for everyone who’s willing to work for it – a place where prosperity doesn’t trickle down from the top, but grows outward from the heart of the middle class. And by gutting the very things we need to grow an economy that’s built to last – education and training; research and development – it’s a prescription for decline.”
The President’s approach to reducing our deficit is a balanced approach that asks the wealthiest to pay their fair share, achieves significant health savings and enacts sensible spending cuts while making the investments we need to have a strong middle class.
Take a look at how the President’s approach and the Congressional Republican policies stack up side by side:
Side by Side - The President’s Budget vs. Republican Budget
It’s a test of fairness. The Congressional Republican budget gives every millionaire and billionaire a tax cut of at least $150,000 paid for by ending Medicare as we know it and gutting programs that help the middle class and our economy. This graphic shows just what that $150,000 means to those programs our economic recovery depends on:
The House Republican Budget – The Budget Fails the Test of Balance, Fairness, and Shared Responsibility
By standing by massive tax cuts we can’t afford paid for by the middle class and seniors, the Republican establishment has rubber stamped the economic policies of the past that caused the financial crisis in the first place. Just take a look at how much the Republican policies of the past added to our deficit:
Changes in Deficit Projections Since January 2001
At this critical moment for our economy and the middle class, the President will continue to stand by a policy of fairness that reflects our core values as a nation.