Letter to the Editor

BY DI READERS | JULY 14, 2011 7:20 AM

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Congress should support Obama’s debt deal

I support President Obama’s plan to find a balanced approach to reduce our national deficit by reducing spending and increasing revenues at the same time. There should be shared sacrifice by both the Republicans and Democrats in order to solve our fiscal problems.

I completely disagree with the Republican congressional leaders that we do not need increased revenues as part of a balanced program to eliminate the deficit and create jobs.

Obama has agreed to spending cuts, including in health and defense spending, to make the government more cost-effective. He has proposed getting rid of the most egregious tax loopholes (starting in 2013) that only benefit the most wealthy individuals and corporations, including subsidies for the oil and gas industry.

In return, there could be significant reductions in the cost of Medicare, Social Security, and Medicaid that would preserve the integrity of those programs so that they will continue to benefit the poor and most vulnerable of our society.

I feel that our Congress should support Obama’s debt reduction measure of $4 trillion, which will reduce our deficit in a fair and balanced way that does not impede our current recovery. Getting our government spending and deficit under control will go a long ways toward boosting business certainty and confidence to encourage investment in our country.

John Macatee,
Iowa City

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