Its about time the President stepped up to the plate and led on Deficit Reduction. Because without his leadership on this issue. This problem will never be solved, because all we would get is Democrats fighting Republicans on how to solve our Budget Deficit. Which is what we are getting in Congress right now. Between the Senate and House, with at least the House GOP led by Rep. Paul Ryan Chairman of the Budget Committee. Laying out a plan to solve our Budget Deficit. I disagree with most of Chairman Ryan’s plan. But I give him credit for having the guts to take on Entitlement Reform and Tax Reform. I just don’t like the way he’s approached those issues. And he hasn’t addressed Defense Spending either, which represents 20% of our Federal Budget.
But the President understands and has said this in public. That the way to balance our Budget Deficit and approach Deficit Reduction. Is with a comprehensive approach with shared sacrifice. That anyone who can afford to give back, must. As examples this means High Earners, reforming entitlements so people who don’t need them. Don’t take as much out of them and are asked to pay more into them. And we finally get a hold of our whopping Defense Budget. That now stands at over 700B$, where we are currently responsible for defending Developed Nations that can afford to defend themselves.
Hopefully on Wednesday the President will lay out a Deficit Reduction package. That does these things and I will comment on his plan when I see it.