December 10, 2012
Democrat Erskine Bowles: "We Have to Cut Spending In order to Put out Fiscal House in Order"Topics:
Democrat Erskine Bowles, who served as President Bill Clinton's White House Deputy Chief of Staff and was one half of the Bowles-Simpson debt reduction duo, emphatically stated Sunday on CBS's 'Face the Nation' that increasing taxes top tax rates back to Clinton era rates will do nothing to solves the problem ... we need to cut spending. The presidents plan is not enough to get out fiscal house in order.
"... the most important thing is, if we are going to raise revenue and if we are going to raise it in any form then we darn well better well cut spending. Cuz spending is the biggest part of this problem and the biggest part of the problem is that healthcare is growing at a greater rate than GDP."
Bowles said movement is apparent because both sides have taken positions that differ from previously hardened stances. He noted Boehner's willingness to increase taxes and the president's openness to cut entitlements.Related: The Fiscal Cliff And The Alinsky President
Although Bowles expressed some optimism, he said the president has to go further. He said the president's proposal to cut around $350 billion to Medicare is "not enough."
"We simply made promises we can't keep. We've got to face up to it," Bowles said of the health care program for seniors. "We're going to have to do more."
Posted by Hyscience at December 10, 2012 10:58 AM
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