THE PRESIDENT’S PLAN: $4 TRILLIONOF DEFICIT REDUCTION INCLUDING THELAST OFFER TO SPEAKER BOEHNER.THE PRESIDENT HAS SIGNED ...
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President Obama's Deficit Plan

Published on: Mar 4, 2016
Source: www.slideshare.net


Transcripts - President Obama's Deficit Plan

  • 1. THE PRESIDENT’S PLAN: $4 TRILLIONOF DEFICIT REDUCTION INCLUDING THELAST OFFER TO SPEAKER BOEHNER.THE PRESIDENT HAS SIGNED INTO LAWMORE THAN $2.5 TRILLION OF DEFICIT REDUCTIONSpending cuts to discretionary programs enacted over the past two years, $1.4 T(not counting war savings)New revenue from wealthiest in fiscal cliff deal More than $600 BInterest savings More than $500 BSubtotal, Deficit Reduction to Date More than $2.5 TTHE PRESIDENT’S LAST OFFER TO SPEAKER BOEHNER IS STILL ON TABLE:MORE THAN $1.5 TRILLION IN ADDITIONAL DEFICIT REDUCTIONSPENDING REDUCTIONSEven split between defense and non-defense discretionary savings: $200 B - Non-defense discretionary spending $100 B - Defense discretionary spending $100 BHealth savings – could be achieved by: - Reduce payments to drug companies - Reduce hospital payments such as reimbursement for patients who don’t pay $400 B $140 B $30 B $ BILLIONS - Encourage efficient care after a hospital stay $50 B - Encourage beneficiaries to seek high value health care and ask the most fortunate to pay more $35 B - Medicaid, Pay-for-Delay, IPAB, program integrity $25 B - Other health savings $120 BNon-health mandatory savings – could be achieved by: $200 B - Eliminate certain subsidies for agriculture $30 B - Reform Federal retirement programs $35 B - Reform postal service and TSA passenger security fees $40 B - Strengthen solvency of UI trust fund $50 B - Other savings including Spectrum Fees, Sales of Excess Property, & Program Integrity $45 BSpending savings from superlative CPI with protections for vulnerable $130 BSubtotal, Total New Spending Reductions $930 B +$200 B interestREVENUELimit tax dedcutions to 28% for the wealthiest and close other loopholes $580 B +$100 B from CPI changeTEMPORARY GROWTH MEASURESImmediate investments in infrastructure -$50 BTOTAL DEFICIT REDUCTIONDEFICIT REDUCTION TO DATE MORE THAN $2.5 TRILLIONNEW DEFICIT REDUCTION $1.8 TRILLIONTOTAL DEFICIT REDUCTION MORE THAN $4.3 TRILLIONFEBRUARY 22, 2013 WHITEHOUSE.GOV/SEQUESTER

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