“As co-chairs of the Congressional Progressive Caucus, we congratulate President Obama on many of his proposals to cut our deficits and balance our national budget. The president’s determination to reduce the large national debt that he inherited after years of costly wars, unchecked defense spending, corporate welfare and giveaways to the wealthy few is admirable. We stand with the President in his efforts to end these costly wars and tax breaks while protecting working and middle class Americans. We will continue to stand with the President against failed Republican tax and domestic policies, which have led to nearly one in five Americans living in poverty while the rich get richer.
While we support cutting waste, fraud and abuse, we reject any proposal that cuts benefits in Medicare or Medicaid. We reject false Republican assertions that the solution to our deficit is deep cuts to programs that millions of Americans rely on, and we would hope President Obama would as well. We have fought tirelessly to stop Republican efforts to sell off and privatize our nation’s retirement security. Cuts to Medicare and Medicaid represent a serious threat to our society and are highly unpopular with the American people. Every dime taken away from beneficiaries in these programs is a dime the recipients don’t have to spend in our economy.
If we let wealthy Americans and corporations pay taxes at the rate they used to and focus our attentions to put Americans back to work, we will solve our deficit crisis. Now is not the time to cut Medicare and Medicaid.”