*Illinois congressman Jesse Jackson Jr., who served as co-chairman of Barack Obama’s 2008 campaign, compared the president’s economic agenda to that of Republican President Ronald Reagan on Friday.
“If we cut taxes for the wealthy, while maintaining massive military spending in support of two wars, then the new Republican Congress will be empowered to cut social programs in order to reduce the deficit,” Rep. Jesse Jackson Jr., a longtime friend and sometimes critic of the president, said in a statement. “So it will be a choice between cutting programs for the poor, children, the unemployed, the uninsured and veterans or allowing deficits to pile up. That was President Reagan’s strategy: A ‘starve the beast’ plan of lowered taxes and increased military spending that would force Congress to make deep cuts in program for the most vulnerable.”
Liberal House Democrats have expressed outrage with the deal Obama cut with congressional Republicans to extend individual income and other expiring tax rates as well as unemployment insurance benefits.
But the proposal still looks to be on track for enactment. The Senate voted Thursday night, 65-11, to clear its decks to consider the bill, and proponents of the legislation were hopeful that a basket of sweeteners would help soften opposition in the House.
Want to read more articles like this one? Subscribe to EURnewsletter.
Got A News Tip or Video You Want to Share? Contact us HERE.
- Miramax Acquires Whitney Doc, Johnnie Cochran Film Finds Director
- Fewer Sex Partners Leads To Divorce, Nick Young & Iggy Azalea 'Split' | BHL's This Week (WATCH)
- Tamron Hall Reveals Her Fear Of Love
- Will Smith Admits That ‘Wild Wild West’ Was a Bad Career Move
- Las Vegas Prince Tribute Show A Hit Since Singer's Passing
- We Remember: Celebrity Photographer Bill Jones Dies at 83
- Texas Woman Wakes Up From Jaw Surgery with British Accent (WATCH)
- Kanye West Unveils Mind Blowing, Voyeuristic 'Famous' Video (WATCH)
- Look! New Poster for 'When the Bough Breaks' Starring Morris Chestnut & Regina Hall
- Octavia Spencer on Why NASA Movie About Black Women is Overdue
- Discover More Stories on EURweb: Click Here