国际英语新闻:President Obama to Release Deficit-Cutting Plan

“It looks like the president wants to move down the class warfare path. Class warfare will simply divide this country more. It will attack job creators.”

The congressman did give Obama credit for a willingness to extract savings from Medicare and other so-called “entitlement programs.” But he said, so far, the president’s ideas do not go far enough to cut costs and put those programs on a sustainable budgetary path.

A fellow Republican, House Majority Leader Eric Cantor, recently suggested that areas where Democrats and Republicans cannot agree will likely be set aside until after next year’s election. President Obama says, at a time of economic weakness and stubbornly-high U.S. unemployment, there is no excuse for delay.

“A faction in Washington may be content to wait until the next election to do anything. But I have news for them: the next election is 14 months away. And the American people do not have the luxury to wait that long.”

Earlier this month, the president unveiled a new jobs plan that would cut taxes paid by wage earners and employers that hire new workers, and boost domestic infrastructure spending. If no new sources of federal revenue are agreed to, Obama has suggested adding the $447 billion dollars needed to fund his proposal to the work of a bipartisan congressional deficit committee already charged with trimming the deficit by $1.2 trillion dollars over the next 10 years.