Obama: It’s Not Class Warfare, It’s Math


A visibly stern and ready-for-action President Barack Obama took to the Rose Garden today to explain how he intended to pay for the proposals put forth in the American Jobs Act, and to chide Congress, and especially Speaker of the House John Boehner and the House Republicans, for refusing to pass his legislation.

The President began his speech in an argumentative tone, acknowledging that his American Jobs Act, which he proposed last week, was full of bipartisan ideas accepted by both parties, and also offered a tax break to nearly every working person in America.  He blamed Congress for dragging their feet on passing the act, saying,  “I’m ready to sign a bill.  I’ve got the pens all ready.”

Every proposal is fully paid for, the president explained, and he reminded Republicans and the American people that it will not add to our debt.  “The health of our economy depends on what we can do right now.  But in the long run, it also depends on our ability to pay down our debt over the decades.  If we don’t act, that burden will fall on our children’s shoulders.”

Obama then blamed the Speaker of the House for walking away during debt ceiling negotiations rather than trying to find real solutions that would stimulate the economy as well as bring down the massive debt the government has been accumulating.

The president then launched into his own plans to pay for the American Jobs Act as well as begin the deficit reduction that the Republican Party claims is such an immediate need.  “This plan will reduce our debt by more than 4 trillion and it is fair, asking everyone to bear some of the costs.”

The administration plans to reduce spending by reform agricultural subsidies, bringing up the number of farms being paid not to produce crops.  He also proposed making modest reductions to federal retirement programs, making cuts to Freddie Mac and Fannie Mae, asking banks to pay back the massive bailout funds they received at the height of the financial crisis, and saving a full $1 trillion as the wars in Iraq and Afghanistan are brought to a close. He also proposed structural reforms in changes to Medicare and Medicaid, to make them more accountable.  “But,” he warned, “I will not allow this to be an excuse to turn Medicare into a voucher program.”

He re-pledged his support for Medicare and Medicaid, as well as Social Security, and said that despite any reforms, the country will not allow these programs to no longer be the support that Americans have come to rely on.  And under no conditions would he be willing to accept any bill that only allowed for spending cuts, without any increase in revenue. “An all cuts plan would ask for sacrifices from the elderly, the poor, and children while leaving the rich and corporations untouched.”

“If we are going to meet our obligations, we have to do it together,” said the president, discussing the need to rescind the tax cuts for the wealthiest and corporations.  “The most fortunate among us need to pay their share like everyone else…We can’t afford these lower rates for the wealthy, rates that were supposed to be temporary.”

“Any reform plan will have to raise revenue in order to close the deficit, and middle class taxpayers should not pay a higher tax rate than millionaires and billionaires,” continued Obama, beginning to explain his new “Buffett rule” that would raise the tax rate on capital gains and other investment income for those earning more than $1 million a year.  “Explain to me why someone who is making $50 million a year should pay 15% while a teacher making $50K should pay a higher rate.  It’s not ‘class warfare’, it’s just the right thing to do. We can either ask the rich to pay more in taxes, or ask seniors to pay more in Medicare. This is not class warfare.  It’s math.”

“I will veto any bill that makes changes in benefits but does not ask the wealthiest Americans and corporations to pay their fair share,” the president vowed.  “We know what’s right, it’s time to do it.”


Related Stories:

Morning Mix: Obama To Propose “Buffett Rule”

Cantor Disapproves Of “All or Nothing” Legislation Unless It’s All Things He Wants

Morning Mix: Boehner In Fantasyland

Photo from whitehouse.gov


Teresa Wlosowicz
Teresa W7 years ago

All capitalists say that.

Yvette S.
Past Member 7 years ago

I am disgusted with the entitlements the corporate wealthy are given. I am sick and tired of people being frightened into believing the corporate wealthy will stop their evil ways to hire them back, or create jobs, or in some way give a rats behind about their lives, their monetary needs, or their health. Corporations exist only to be profitable. The rest is fantasy folks! They have learned they can eat the cake and own the bakery, and really, why in the world would they not continue to reward themselves without anything standing in their way to stop them? The motivation would be? To tun less of a profit because they love us, they really really do? Get over it, that is not going to happen without demanding they pay their fair share of the taxes, without jet loop holes, with out entitlements, with out sniveling.

Yvette S.
Past Member 7 years ago

We are being respun the same old clothes out of the same old yarns, but with a new language to describe its 'stylishness'........

'''As PBS put it, Frank Luntz’s expertise is “testing language and finding words that will help his clients sell their products, or turn public opinion on an issue or a candidate.” In other words, propaganda.
Here are some actual examples of Luntz’s fine work which you will recognize in the GOP's (Grease Our Pockets), rhetoric:

Don’t say “oil drilling.” Say “energy exploration.”

Don’t say “inheritance tax.” Say “death tax.”

Don’t say “global warming.” Say “climate change.”

Don’t say “healthcare reform.” Say “government takeover.”
And don’t say “greedy, soulless multinational corporations who don’t give a damn about you.” Say “job creators.”.
Frank Luntz’s latest book, Win: The Key Principles to Take Your Business from Ordinary to Extraordinary. Here are Luntz’s exact words: “You don’t create jobs by making life difficult for job creators.” That’s under the heading “The Ten Rules for 2012: What Americans Really Want to Hear from Their Representatives.”

I am disgusted with the entitlements the corporate wealthy are given. I am sick and tired of people being frightened into believing the corporate wealthy will stop their evil ways t

Don Isaksen
Don I7 years ago

@Glenn M, - Continued -
Excessive spending by the Bush and Obama administrations also added greatly to the national debt. While the two presidents are responsible for adding about the same amount to the national debt, it took Bush 8 years to do it, while it's only taken Obama a little over 2.5 years to add about the same increase to the national debt.

As you wrote, more effort need to be done to protect against outsourcing more US jobs, but incentives also need to be made that will cause new businesses to start, and make it worthwhile for businesses with outsourced jobs to start bringing them back to our country. ALL Presidents have allowed the massive amounts of outsourcing jobs to take place. The effort to get the jobs back will need a lot more bi-partisan cooperation than either side is willing to give right now.

Don Isaksen
Don I7 years ago

@Glenn M, - Continues -
When virtually every economist in the country says entitlements must be reformed, I would suggest they are definitely one of the things that has to be changed to address the national debt.

For Fiscal Year 2012, mandatory Spending will be about $2.109 Trillion. Mandatory Spending makes up 57% of the total federal budget, and is the fastest growing part of the budget by far. The largest portion of mandatory spending programs are Social Security and Medicare. *- Social Security - $761 billion
*- Medicare - $468 billion
*- Medicaid - $269 billion
*- TARP - $13 billion
*- All other mandatory programs - $598 billion. These programs include Food Stamps, Unemployment Compensation, Child Nutrition and Tax Credits, Supplemental Security for the Disabled and Student Loans.

So, how can you say cuts and/or changes to the structure of mandatory spending won't be an efficient way to deal with the national debt?

Outsourcing isn't the cause of the financial collapse. While it certainly hasn't helped matters very much, the biggest reason for the financial collapse was were the laws created, and the deregulation of the banking/financial sector that allowed banks and other lenders and financial entities to conduct highly risky and even known to be bad financial investments, that Fannie Mae bought us, thus placing the burden for covering the bad investments on the shoulders of the US tax payers. Excessive spending by the Bush and Obama administration

Don Isaksen
Don I7 years ago

@Glenn M,
Of coarse multi-nationals are investing their profits back into the foreign markets. The foreign markets they're investing in are much more friendly, have lower tax rates, and have fewer regulations that impede with their businesses. GE not only reinvested all that money, they're going to move their operations and all their jobs to Beijing, China shortly. Isn't it funny how Obama hires Immelt to be one of his business consultants, supposedly to help get our economy back on its feet, and he almost immediately decides to move the whole business and jobs out of our country. And the man is still working for Obama. How stupid could someone get than to hire someone who could give a rats ass about the US economy. Just another of Obama's many moves that have been bringing our country farther and farther down into a pit.

Unless I'm missing something (which YOU obviously are), the Republicans aren't the ones moving the jobs out of the country. Something else you seem to not be understanding is the jobs being lost are being lost because of Obama's inability, and unwillingness to move away from his failed economic plan. The only ones to get any help from the stimulus are people and businesses that gave huge contributions to finance the Obama campaign. Everything the man touches turns to crap. So don't try blaming Obama's failures on anyone but him and his inept administration.

When virtually every economist in the country says entitlements must be reformed, I

Don Isaksen
Don I7 years ago

@Shirley A,
Instead of just acting like the child you must be to resort to your name calling, why don't you act like a grown up? I assume you are supposed to be one. Your just like other leftists who haven't anything of substance to write, so revert to name calling when someone points out just how wrong you are.

For your Information, I'm not a Republican or Tea Party member. I'm a very Independent (a reformed DEMOCRAT) who got very tired of the Democrats continuous lying about, and distorting the truth. The Democrat party of today is not even close to what the Democrat party stood for many years ago.

WHY don't you take the time to do a little research? If you did, you would find what I've wrtten is true. As much as you may not like it, it IS true.

AND, ... it take one to know one!

Shirley A.
Shirley A7 years ago

Don I. You're an arrogant, brainwashed ass. Typical Elitist Republican fare.

Thanks for the SANITY Glenn.

Glenn M.
Glenn Meyer7 years ago

Ron L.

Reagan began the outsourcing of U.S. jobs.

That is the class warfare that everyone understands.

Keep defending the Republicans and I will see you again when the depression hits big time.

Glenn M.
Glenn Meyer7 years ago

Cutting spending on, so called, entitlements is ineffective for addressing the deficit. Cutting programs that support the low and middle class will further strain both who don’t even receive lower prices as a result of the U.S. job losses and create a disconnect that will end in another financial collapse. The justification for attacking government benefits as opposed to raising taxes is the creation of jobs. But where?

Corporations have over-powered our government which now believes that out-sourcing and off-shoring of U.S. jobs is inevitable and necessary with expectations that the middle class should fall on their swords. It is the underlying cause of the financial collapse and borders on national security with the loss of our middle class tax base. Yet, this nation does nothing, not even demand it be restricted by whatever method. International businesses are doing the UN-AMERICAN activity of destroying U.S. salaries, U.S. businesses that hire in the U.S., and as an end result, destroying the U.S. marketplace while still demanding BUSINESS ENTITLEMENTS and protections for themselves.

Infrastructure spending and tax breaks will not replace enough jobs to keep up with the hemorrhaging loss of U.S. jobs from out-sourcing over seas. Neither party will do anything about it unless we begin grass roots efforts to protest out-sourcing and off-shoring of U.S. jobs. If nothing is done we will deserve what we get and it will get a lot worse before it gets better