Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

President Obama's Deficit Plan

  • Login to see the comments

President Obama's Deficit Plan

  1. 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

×