20 September 2011, 13:20

Obama unveils $3 bln debt-reduction plan

Obama unveils $3 bln debt-reduction plan
Download audio file

President Obama unveiled a plan to cut the national debt by roughly $3 trillion over the next decade. The driving principle behind the cuts is that high income individuals and corporations should pay more in taxes than they do currently.

President Obama unveiled a plan to cut the national debt by roughly $3 trillion over the next decade. The driving principle behind the cuts is that high income individuals and corporations should pay more in taxes than they do currently. Mr. Obama has also proposed modest cuts in spending by “by scouring the budget for every dime of waste and inefficiency, reforming government spending and making modest adjustments to Medicare and Medicaid.” The plan has already drawn criticism from Republicans, who don’t want to see those tax hikes. Talking about the president’s plan are Robert Brusca, CEO and the ownerFact and Opinion Economics, and Scheherazade S. Rehman, Director at the European Union Research Center and Professor of International Finance/Business at George Washington University.

  •  
    and share via