FROM A WHITE HOUSE OFFICIAL:
[TODAY] at 10:45am ET in the South Court Auditorium at the White House, the President will deliver remarks to urge action to avoid the automatic budget cuts scheduled to hit next Friday if Congress fails to find a path forward on balanced deficit reduction. He will be joined at the White House by emergency responders – the kinds of working Americans whose jobs are on the line if Congressional Republicans fail to compromise on a balanced solution. If these cuts go into effect, hundreds of thousands of jobs could be lost and middle class families all across the nation will feel the devastating impact; FEMA would need to eliminate funding for State and local grants that support firefighter positions and State and local emergency management personnel, hampering our ability to respond to natural disasters and other emergencies.
With less than two weeks before these cuts hit, the President will challenge Republicans to make a very simple choice: do they protect investments in education, health care and national defense or do they continue to prioritize and protect tax loopholes that benefit the very few at the expense of middle and working class Americans?
The President will make clear that we need to help the middle class get ahead and help our businesses create jobs. These cuts do just the opposite. But time and again, Republicans in Congress have said they would rather see these devastating cuts go into effect than close a single loophole that benefit the wealthy.
The President has already taken steps to reduce the deficit by more than $2.5 trillion and he wants to do more. He has on the table a plan that will further reduce the deficit in a balanced way and achieve the kinds of savings we need to get is on a fiscally sustainable path while making the investments we need in education, manufacturing and research and development that will grow and strengthen the middle class. And the House and Senate have said they want to do a budget, and that budget must be balanced and cut spending where we can, reform our entitlement programs and ask the wealthiest few and big corporations to pay their fair share. But to give Congress time to act on a long term solution, Congressional Democrats have proposed a smaller package to delay these cuts from taking effect. The President will urge Congressional Republicans to compromise and accept this solution so these devastating cuts that will hurt our economy and middle class families won’t hit.