Budget Battle

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Thursday, April 14, 2011 - 10:37am

After The President presents his budget plan, Republicans retort.

Here's President Obama's plan to take four trillion off the deficit: Cuts at the Pentagon, negotiating Medicare drug prices, paying doctors to keep patients well…not just treat them when they're sick. Plus, no more tax cuts and fewer tax breaks for the richest Americans.

"We cannot afford $1 trillion worth of tax cuts for every millionaire and billionaire in our society. We can't afford it. And I refuse to renew them again. The most fortunate among us can afford to pay a little more," said President Obama.

If that doesn't save enough, his plan would force more spending cuts.

Republicans say it is a re-election campaign.

Wisconsin Representative Paul Ryan said, "This wasn't a plan. This was punting."

Virginia Representative Eric Cantor said, "We are serious. Where are you?"

Texas Representative Jeb Hensarling said, "The only thing we see are massive tax increases when spending is the problem."

This Democrat is skeptical.

Ohio Representative Dennis Kucinich said, "I want to see the details on what's gonna happen down the road before I sign on."

That's 2012, but first: this year. The weekend budget deal that prevented a government shutdown is up for a vote today.

But the Congressional Budget Offices says it will actually save less than one percent of the 38 billion in promised cuts.

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