In his opening State of the Union remarks, President Barack Obama reiterated his call for increased revenue along with spending cuts.
“Democrats, Republicans, business leaders and economists have already said that these cuts, known here in Washington as ‘the sequester,’ are a really bad idea,” Obama said.
“Now, some in this Congress have proposed preventing only the defense cuts by making even bigger cuts to things like education and job training, Medicare and Social Security benefits. That idea is even worse.”
Specifically, Obama proposed reducing taxpayer subsidies to prescription drug companies while simultaneously asking for “more” from “the wealthiest seniors.”
“Why would we choose to make deeper cuts to education and Medicare just to protect special-interest tax breaks? How is that fair?”