The White House stated yesterday that President Obama will discuss
the role of taxes in reducing the US deficit in a highly anticipated
speech today.
The president believes that a balanced approach to cutting the deficit
must prevail. He would like to get rid of the tax cuts begun under
President George W. Bush that apply to wealthier Americans.
Obama's speech, which is scheduled for 1:30 PM, will air on all
major networks and is expected to set forth a vision for tackling
the rising US debt. His approach may be vastly different from
the Republican plan which the White House claims favors the rich
at the expense of poor Americans.
Here are some examples of the proposed cuts to this year's federal
budget:
$2.6 Billion will be shaved from the Agriculture Department which
could impact public-nutrition programs such as food stamps and
school lunches. (that is not helping the poor!!!)
$504 Million will be cut from the WIC (Women Infants and Children)
Program, which provides food to pregnant women, new mothers and
children. (again that is not helping the poor who need it most!!!)
$504 Million will be cut from the Biomass Crop Assistance Program
which promotes using crops to make biofuels.
Sheila McKinney
