Lots of partisan jockeying [[and run-away spending on both sides that got us here) with elections top of mind. Yet the can or our dept cannot be 'kicked' any further down the road....
http://www.bloomberg.com/news/2011-0...ding-cuts.html
"Obama says the magnitude of cuts Republicans are proposing will be harmful and should be offset by elimination of many tax exemptions to deliver revenue for a deficit-cutting plan.
“I have not seen a credible plan -- having gone through the numbers -- that would allow you to get to $2.4 trillion without really hurting ordinary folks,” Obama said. “And the notion that we would be doing that, and not asking anything from the wealthiest among us or from closing corporate loopholes -- that doesn’t seem like a serious plan to me.” "
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