Stanford Progressive

Primer: Obama’s Deficit Reduction Plan

By Progressive Editorial Staff, published October, 2011


Tax the rich: $800 bil. will come from let- ting the Bush tax cuts expire; $700 bil. from closing loopholes and limiting deductions for individuals making over $200K and families making over $250K

Reform entitlements: Wealthier Medicare recipients will eventually see premiums in- crease as part of $248 bil. in cuts, along with $72 bil. in cut to Medicaid

Ending the wars: The drawdown in Iraq and Afghanistan will provide $1.1 trillion

And: Reduce farm subsidies, reform federal retirement, increase airline security fees


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