Washington, D.C. – Nevada Senator Harry Reid released the following statement on President Obama’s speech on long-term deficit reduction:
“The President’s responsible vision for reducing the deficit provides a clear contrast with Republicans’ reckless plan to end Medicare and Social Security. The President’s plan will reduce the deficit by more than $4 trillion while protecting seniors on Medicare, and it recognizes that Social Security should be dealt with separately. The Republican plan, on the other hand, uses the shared goal of reducing our deficit as an excuse for slashing seniors’ hard-earned benefits in order to pay for tax breaks for millionaires and billionaires.
“There’s been a lot of talk about shared sacrifice when it comes to cutting spending and reducing the deficit. Republicans believe the sacrifice should fall mainly on seniors and the middle class, while millionaires and big corporations get more tax breaks. As the President made clear, Democrats have a different view. We believe that the responsible approach is to make sure the wealthiest Americans contribute their fair share as we try to bring our fiscal situation back into balance.
“I look forward to sitting down with my colleagues and the President to chart a course to deficit reduction that strengthens the middle class and protects seniors.”