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I think it's very important not to confuse the importance of dealing with Social Security in the long term with these short-term deficit reduction challenges. They're different issues.
Our platform calls for a balanced deficit reduction plan where the wealthy pay their fair share. And when your country is in a costly war, with our soldiers sacrificing abroad and our nation facing a debt crisis at home, being asked to pay your fair share isn't class warfare - it's patriotism.
The TUC's new slogan 'a future that works' sets a profound challenge. Austerity and rapid deficit reduction is failing in its own terms, but even at its best it is short-sighted, muddle-through politics with no vision of a new economic model.
Deficit reduction is not an end in itself. It is the means to an end. Canadians must now decide what kind of country they want to build with the hard-won dividend.
Tax rates for the wealthy should revert to Clinton-era levels, both because it is necessary for long-term deficit reduction and because fairness dictates it. Moreover, there is no proof that higher marginal rates dissuade investment, all the rhetoric from the Right notwithstanding.
We're going to need to absorb some pain. The Republicans want to pile all the pain on people who can least afford it and the middle class and Democrats under his leadership want to make sure that we can address deficit reduction and continue to make investments and shared sacrifice is going to be imperative in order to be able to do that.
Debbie Wasserman Schultz
Cold-turkey deficit reduction would cause a significant recession. A recent analysis by the Congressional Budget Office estimated that going headlong over the cliff would cause our gross domestic product, which has been growing at an annual rate of around 2 percent, to fall at a rate of 2.9 percent in the first half of 2013.
My point is cutting spending shouldn't be reliant on the debt limit though. It's something we have to do. The good news for America is, leaders in both parties, the president, believe that we have to have significant deficit reduction. So the intent is there. And I think what America is going to demand is that our leaders come together.
History is replete with examples of moments in time when we talk about deficit reduction and try to advance on it around the world, that is, where it leads to job losses, not job creation.
In fact, I think - our view of this is that while the agreement, the compromise did not achieve the kind of super-sized deficit reduction that we sought, it did end the uncertainty around the perception, the possibility that the United States might default on its obligations for its first time. That was a good thing.
Mr. Obama's choices show how fundamentally unserious he is about deficit reduction and spending restraint.
Thanks to former President George W. Bush - remember the compassionate conservative? - I have a good name for the fundamental principle that should guide the Democratic alternative: compassionate deficit reduction.
When Republicans say, 'The first thing you do when you do deficit reduction is reduce rates,' it would be like Democrats saying, 'The first thing you do when you do deficit reduction is provide free Medicare at age 55.' We'd like to do that! But it won't bring the deficit down. That's for sure.
While there are no easy solutions to this problem, the Deficit Reduction Act gets us started in the right direction by beginning with the most obvious, commonsense reforms to save taxpayer dollars.
Honest talk about the deficit is risky. Voters are more enthusiastic about the abstract notion of deficit reduction than about the painful details of accomplishing it.
In point of fact, 'Simpson-Bowles' has become a symbol, or SimBowl, rather than an actual plan, political shorthand for the process of long-term deficit reduction.
I don't know how anyone can keep a straight face and say they are for deficit reduction while they insist on a permanent tax cut for the wealthiest Americans, completely unpaid for.
When Republicans used reconciliation in 2001 for the Bush tax cuts, they used it to increase the deficit. The whole purpose of reconciliation is for deficit reduction!
The Farm Bill is one of the only bills that provides substantial deficit reduction that passed the Senate this year. It only makes sense that this deficit reduction bill would be included in a larger deficit reduction agreement.
I believe that we should allow younger workers to contribute toward a personal account that they own, as long as it is coupled with deficit reduction measures that enhance the long-term condition of Social Security.
Reconciliation cannot be used to pass comprehensive health care reform. It won't work because it was never designed for that kind of significant legislation; it was designed for deficit reduction.
I voted for the Deficit Reduction Package with significant heartburn over the student aid provisions.
But the debt limit obviously is something that needs to and will be passed. That is not inconsistent with a process and a belief that we have to get significant deficit reduction.
William Arthur Ward
Martin Luther King, Jr.
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Wonder rather than doubt is the root of all knowledge.
Abraham Joshua Heschel
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