President presents deficit reduction plan

As the deficit reduction super committee begins its proceedings, President Obama has put forth his own deficit reduction plan.

The plan would help to pay for his proposed $447 billion jobs plan and reduce the deficit $4.4 trillion by fiscal year 2021 through a mix of budget cuts and increased revenue the most controversial of which at this point is a $1.5 trillion tax hike on upper income Americans.

While the plan has already been announced dead on arrival on Capitol Hill, it could provide a starting point for both the super committee and congressional leaders.

Arnold Weinfeld is Director of Strategic Initiatives and Federal Affairs for the Michigan Municipal League. He can be reached at 517-908-0304 or by e-mail.