Unless Congress acts by March 1st, a series of automatic cuts—called the
sequester—will take effect that threaten hundreds of thousands of middle class
jobs, and cut vital services for children, seniors, people with mental illness
and our men and women in uniform.
There is no question that we need to cut the deficit, but
the President believes it should be done in a balanced way that protects
investments that the middle class relies on. Already, the President has worked
with Congress to reduce the deficit by more than $2.5 trillion, but there’s
more to do. The President has put forward a balanced plan to not only avoid the
harmful effects of the sequester but also to reduce the deficit by more than $4
trillion in total. The President’s plan meets Republicans more than halfway and
includes twice as many spending cuts as it does tax revenue from the wealthy.
Unfortunately, many Republicans in Congress refuse to ask
the wealthy to pay a little more by closing tax loopholes so that we can
protect investments that are helping grow our economy and keep our country
safe. By not asking the wealthy to pay a little more, Republicans are forcing
our children, seniors, troops, military families and the entire middle class to
bear the burden of deficit reduction. The President is determined to cut spending
and reduce the deficit in a balanced way, but he won’t stick the middle class
with the bill. The President is willing to compromise, but on behalf the middle
class he cannot accept a deal that undercuts their economic security.
Our economy is continuing to strengthen but we cannot afford
a self-inflicted wound from Washington. Republicans should compromise and meet
the President in the middle. We cannot simply cut our way to prosperity, and if
Republicans continue to insist on an unreasonable, cuts-only approach, Illinois
risks paying the price.
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