Sen. Carper Reacts to President Obama’s Plan for Responsible Deficit Reduction

WASHINGTON – Today, Sen. Tom Carper (D-Del.) released the following statement reacting to President Obama’s plan for shared sacrifice to achieve responsible reduction of the federal deficit:  

“The president is right. The only way we can solve our nation’s fiscal crisis is if we work and sacrifice together. We’re not going to win the future by fighting the same battles, drawing the same lines in the sand and refusing to compromise. In order to reduce our deficit, we have to put everything on the table and come up with a responsible, balanced plan that will grow the economy and keep America strong.  

“Late last year, the president’s bipartisan National Commission on Fiscal Responsibility and Reform, led by co-chairmen Erskine Bowles and Alan Simpson, produced a comprehensive plan to bring our nation’s finances in order. The commission’s plan reduced the nation’s debt by about $4 trillion over 10 years, and it did so by putting everything on the table. Roughly one-third of the savings the commission called for came from new revenues, and about two-thirds came from spending cuts. Although I didn’t support each and every aspect of this plan, I thought it was a positive step forward and provided the president and Congress with a good roadmap to address our deficit problem in a serious and comprehensive manner. Today, the president embraced this roadmap more fully, and his framework incorporates many of the elements of the Fiscal Commission’s plan. That is a step in the right direction, and I hope my Republican colleagues follow suit.  

“For too long, we’ve talked the talk in Washington about the need to reduce our deficit. It’s now time to walk the walk. We have to scour every nook and cranny in the federal government for savings, while also making sure, as the president said, that we invest in America’s future.”