Fmr. Obama Adviser: Spending Cuts Needed for Deficit Reduction
Austan Goolsbee counters Democratic platform position.
3:17 PM, Sep 5, 2012 • By MICHAEL WARREN
“I think a balanced plan is important,” said Austan Goolsbee in a brief interview Wednesday afternoon. Goolsbee, who was chairman of Obama's Council of Economic Advisers from 2009 to 2011, added that Obama believes in a “three to one” ratio of spending cuts to tax increases as outlined in the Bowles-Simpson deficit reduction commission's proposal.
But Obama’s party’s platform reads differently. Here’s the relevant passages, as reported by Talking Points Memo:
Goolsbee stressed that he was “just a policy guy” and would not comment on whether the party's speakers should be stressing deficit reduction at this week's convention. Asked if Obama should embrace the Bowles-Simpson commission's recommendations in his convention speech, Goolsbee said the president has already embraced the "central tenets" of the plan in his budget.