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WH: ‘We Don’t Want Deficit Reduction to Come at Expense of Investments’

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Susan Jones
CNS News
February 23, 2014

(CNSNews.com) – So much for deficit reduction. President Obama’s Fiscal Year 2015 budget, due out in March, will focus on “investments” for “a stronger future,” Obama’s top economic adviser said on Thursday. Savings will be “directed towards the long-term.”

“And I think what we don’t want is for our deficit reduction to come at the expense of the investments in the future,” Gene Sperling, director of the National Economic Council, told Politico’s “Morning Money Breakfast Briefing” on Thursday.”You want to have a more robust ability to invest in research, in children, in training and higher skills. Those are things — infrastructure — those are the things where one generation invests for a stronger future.”

Sperling described the president’s budget proposal as “pro-growth.”

“So I think that what you’ll see in our budget is more of a move to be more pro-growth and to change the composition of deficit reduction so that we do allow more investment in the future — in education, in training, in the middle class — and that our savings are more directed towards the long term and that they are a responsible mix of revenues and sensible mandatory savings.” Revenues means tax hikes on corporations and the wealthy. – See more at: http://www.cnsnews.com/news/article/susan-jones/wh-we-dont-want-deficit-reduction-come-expense-investments#sthash.sFkt8YMN.dpuf

This article was posted: Sunday, February 23, 2014 at 6:20 am

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