Switch to Desktop Site
 
 

Obama's plan to replace the 'sequester': Does the math add up?

President Obama wants to replace the sequester with a package of spending cuts and tax revenues adding up to $1.5 trillion over 10 years. But some say that's not enough savings.

Image

President Obama speaks at Newport News Shipbuilding in Newport News, Va., Tuesday to highlight the impact the sequester will have on jobs and middle class families.

Kevin Lamarque/Reuters

About these ads

President Obama has proposed a plan to avoid the much-loathed “sequester” that’s scheduled to kick in Friday, imposing significant spending cuts on most programs in the federal government.

His plan is to replace the sequester's $1.2 trillion in across-the-board cuts over the next 10 years with targeted cuts and tax reforms that would cut the deficit by $1.5 trillion over the same period. The White House summarized the details of his plan to get to that $1.5 trillion number earlier this month.

Whether his plan is politically feasible is one thing – Republicans would have to swallow his proposal to close some tax loopholes for wealthy households. But increasingly there are questions about the economics of his plan, too.

 

Is $1.5 trillion enough?

Next

Page 1 of 4

Share