- Obama will lay out a $3 trillion deficit reduction plan, including $580 billion in spending cuts–$320 billion of which would come from federal health care entitlements–$1.5 trillion in new revenue from ending exemptions in the tax code, letting the Bush tax cuts on the highest income levels expire, and setting a new minimum rate on income above $1 million per year (dubbed “The Buffett Rule.”) He’s also counting some $1 trillion in savings from winding down the wars in Iraq and Afghanistan.
- Like the American Jobs Act, it’s essentially a re-election platform.
- Congressional Republicans cry “class warfare.”
- They’ll back parts of the President’s stimulus proposal, namely the payroll tax cut extension, business write-offs and training for the unemployed.
- Independents, economic angst still dragging Obama’s approval down.
- He’s not losing Jewish support per se, he’s just losing support.
- John Heilemann argues Obama’s been good for Israel.
- What the Palestinian delegation is thinking as it approaches the U.N. statehood vote.
- The Fed faces high expectations for action.
- Perry will grapple with TARP letter.
- Romney and Perry race for governors.
- Tom Junod profiles Jon Stewart.
- And Paul Krugman finds someone to play him in the movie.