Obama says deficit reduction panel right on revenues, wrong on defense cuts

This entry was posted by Saturday, 27 October, 2012
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WASHINGTON (Reuters) – President Barack Obama said on Friday a bipartisan panel's deficit reduction recommendation went too far on spending cuts, especially for defense, but set the right tone by also proposing revenue increases. Obama said the plan put forward by the bipartisan Simpson-Bowles commission – and held out by some as a model compromise that distributes the pain evenly – cut defense spending too deeply. “They wanted … defense cuts that were steeper than I felt comfortable with as commander in chief,” he said. …

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Obama says deficit reduction panel right on revenues, wrong on defense cuts


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