"They voted to let the entire burden of deficit reduction fall squarely on the middle class, " he said of his rivals, in a statement on Thursday.
Democrats responded that the Ryan proposal would harm economic growth by shifting the burden of deficit reduction to middle-class Americans, the elderly and others, while cutting spending for college loans, infrastructure development, scientific research and other areas vital for job creation.
Obama made such an approach a central campaign theme in winning re-election last year, arguing Republican proposals that focus on spending cuts alone would put most of the burden of deficit reduction on the middle class, the elderly, the poor and disabled.
On Tuesday, Obama held a campaign-style event at the White House to call for balancing the impact of deficit reduction so that the middle class and vulnerable citizens such as the elderly don't get hit too hard.
Flanked by firefighters and other emergency responders at a campaign-style event on Tuesday, Obama called for balancing the impact of deficit reduction so that the middle class and vulnerable citizens such as the elderly don't get hit too hard.
At Dow Jones the Bancrofts control 64% of the votes versus 25% of the stock, which translates into a 26% reduction from what the company would be worth with a single class of stock, she estimates.
At Dow Jones the Bancrofts control 64% of the votes vs. 25% of the stock, which translates into a 26% reduction from what the company would be worth with a single class of stock, she estimates.
They voted to let the entire burden of deficit reduction fall squarely on the middle class.
Obama and Democrats argue that increased revenue, including higher tax rates on the wealthy, must be part of broader deficit reduction to prevent the middle class from getting hit too hard.
Obama and Democrats argue that increased revenue, including higher tax rates on the wealthy, must be part of broader deficit reduction to avoid the middle class from getting hit too hard.
Finally, the settlement dictated that if the judge refused to award fees to the lawyers, or cut the amount, the reduction stayed with the defendant instead of going to the class.
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But deficit reduction cannot come at the cost of economic growth or middle-class security.
He said his firm would put in place an "attractive" fare structure, including a 15% reduction in standard tickets and new categories of fares, including a new class between standard and first.
If they want those members who believe that we should achieve deficit reduction only on the backs of senior citizens and vulnerable Americans and the middle class, they need to explain that.
This reduction in inequality has a racial component, because 75% of the new middle class is non-white.
But what I can't do is ask middle-class families, ask seniors, ask students to bear the entire burden of deficit reduction when we know we've got a bunch of tax loopholes that are benefiting the well-off and the well-connected, aren't contributing to growth, aren't contributing to our economy.
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And he hopes that the Republicans will join him on that path and achieve this -- take advantage of this opportunity and lock in a plan that would achieve significant deficit reduction, would protect the middle class, and would help our economy.
Obama and Democrats say they want to protect Medicare, Medicaid and Social Security, and that comprehensive deficit reduction must include increased taxes on wealthy Americans to prevent the burden of austerity steps from shifting too much to the middle class, the elderly and other vulnerable demographics.
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