Skip to main content

Obama, we need honest dialogue on debt

By Maya MacGuineas, Special to CNN
February 16, 2013 -- Updated 2208 GMT (0608 HKT)
Maya MacGuineas says the president must uses his platform to explain why we cannot duck entitlement and tax reforms.
Maya MacGuineas says the president must uses his platform to explain why we cannot duck entitlement and tax reforms.
STORY HIGHLIGHTS
  • Maya MacGuineas: Obama talked this week of fiscal responsibility, jobs, economic growth
  • She says his push for $1.5 trillion in savings is short of $2.4 trillion needed to confront debt
  • She says closing tax loopholes, hitting corporations and the wealthy for more is not enough
  • Writer: Obama must start honest dialogue focusing on real issues of entitlements, tax reform

Editor's note: Maya MacGuineas is president of the Committee for a Responsible Federal Budget.

(CNN) -- This week the president faced the American people to talk about, among other things, the budget. He said the right things. During his State of the Union address on Tuesday night, he drew a link between responsible fiscal policy and the important issues of jobs, the middle class and economic growth. He emphasized the need for fiscal responsibility.

He pointed out that while some savings have been accomplished, there's still much to be done. But his objective of saving another $1.5 trillion falls well short of what is needed to put the debt on a sustainable path. A recent analysis by the Committee for a Responsible Federal Budget found that a minimum of $2.4 trillion in additional savings is needed to achieve that basic goal.

Maya MacGuineas
Maya MacGuineas

He acknowledged that compromise will have to drive negotiations and that no one will see a deal come together exactly as they would choose. But when it comes to specifics, the president continues to take the easy way out, instead of using the platform that he alone has to help the country understand both what's at stake and what it will take. It's relatively easy to talk about things like scaling back tax loopholes for corporations and the well-off, asking the rich to pay more as part of Medicare, and providing fewer subsidies to drug companies. But it will take more than that.

Become a fan of CNNOpinion
Stay up to date on the latest opinion, analysis and conversations through social media. Join us at Facebook/CNNOpinion and follow us @CNNOpinion on Twitter. We welcome your ideas and comments.



Obama: Let's pay our bills on time
Debunking debt ceiling myths
Krugman: Focus on debt is destructive

Instead of just replacing or retooling the blunt sequester, we do need to find savings from defense. We also need to put Social Security on a path toward solvency and the sooner we do it the better. We should protect those who depend on the program, and running from the financial imbalances it faces does just the opposite.

Tax reform also will require tackling popular, yet expensive and inefficient, tax breaks -- from the health care exclusion to the home mortgage deduction -- if we truly want to overhaul our outdated and anti-growth tax code. Reforming the tax breaks for the rich and well-connected is a must, but it's not enough to really fix a tax code that hemorrhages more than $1 trillion in forgone revenues a year.

The bottom line is deficit reduction is difficult, the president knows that, and he should start an honest dialogue with the American public about what it will take to help move the issue forward.

The emphasis he put on the issue this week was encouraging, but the proof will be in how he leads going forward. In recent fiscal negotiations, we have been locked in a game of you go first, no you go first between the two parties when it comes to how they would get specific on entitlement and tax reform. The risk is that both will find it too politically convenient to hide behind the easy pieces of taxing the rich and discretionary spending caps--both of which have been enacted, and neither of which are sufficient to fix the problem—instead of focusing on the real issues of entitlement and tax reform.

Only the president can start this honest dialogue. If he steps forward and starts putting real specifics on the table for some of the hard choices and uses his platform to explain to the country why it is so important not to duck from these issues as we work to get the economy back on track, his speech will have been a great start to a serious effort. Otherwise, it will be just a lot of empty words.

The opinions expressed in this commentary are solely those of Maya MacGuineas

ADVERTISEMENT
Part of complete coverage on
September 30, 2014 -- Updated 1653 GMT (0053 HKT)
Jeff Yang calls Ello a wakeup call to Facebook and Twitter, and a sign of hope for fast-rising upstarts Pinterest and Snapchat.
October 1, 2014 -- Updated 1423 GMT (2223 HKT)
Paul Waldman says the Secret Service should examine its procedures to make sure there are no threats to the White House--but without losing the openness so valuable to democracy
October 1, 2014 -- Updated 1455 GMT (2255 HKT)
Jesse Williams says the videotape and 911 call that resulted in police gunning down John Crawford at a Walmart reveals the fatal injustice of racial assumptions
September 30, 2014 -- Updated 2303 GMT (0703 HKT)
Mel Robbins says officials should drop the P.C. pose: The beheading in Oklahoma was not workplace violence. Plenty of evidence shows Alton Nolen was an admirer of ISIS.
September 30, 2014 -- Updated 1911 GMT (0311 HKT)
The Occupy Central movement has already achieved much by bringing greater attention to Hong Kong's struggle for democracy, William Piekos says..
September 30, 2014 -- Updated 1911 GMT (0311 HKT)
The Occupy Central movement has already achieved much by bringing greater attention to Hong Kong's struggle for democracy, writes William Piekos.
September 30, 2014 -- Updated 1413 GMT (2213 HKT)
As Prime Minister Narendra Modi visits America, Madeleine Albright says a world roiled by conflict needs these two great democracies to commit to moving their partnership forward
September 30, 2014 -- Updated 1404 GMT (2204 HKT)
John Sutter: Lake Providence, Louisiana, is the parish seat of the "most unequal place in America." And until somewhat recently, the poor side of town was invisible on Google Street View.
September 29, 2014 -- Updated 1311 GMT (2111 HKT)
Julian Zelizer says in the run up to the 2016 election the party faces divisions on its approach to the U.S.'s place in the world
September 29, 2014 -- Updated 1419 GMT (2219 HKT)
Ruben Navarrette says Common Core supporters can't devise a new set of standards and then fail to effectively sell it.
September 30, 2014 -- Updated 1329 GMT (2129 HKT)
Earlier this month, Kenyans commemorated the heinous attack on the Westgate Mall in Nairobi.
September 30, 2014 -- Updated 1859 GMT (0259 HKT)
David Wheeler says Colorado students are right to protest curriculum changes that downplays civil disobedience.
September 27, 2014 -- Updated 0158 GMT (0958 HKT)
Sally Kohn says when people click on hacked celebrity photos or ISIS videos, they are encouraging the bad guys.
September 26, 2014 -- Updated 1155 GMT (1955 HKT)
Loren Bunche says she walked by a homeless man every day and felt bad about it -- until one day she paused to get to know him
September 30, 2014 -- Updated 1332 GMT (2132 HKT)
ISIS grabs headlines on social media, but hateful speech is no match for moderate voices, says Nadia Oweidat.
September 29, 2014 -- Updated 1233 GMT (2033 HKT)
A new report counts jihadists fighting globally. The verdict? The threat isn't that big, says Peter Bergen.
September 23, 2014 -- Updated 2137 GMT (0537 HKT)
Ebola could become the biggest humanitarian disaster in a generation, writes former British Prime Minister Tony Blair
September 26, 2014 -- Updated 1658 GMT (0058 HKT)
ISIS has shocked the world. But will releasing videos of executions backfire? Four experts give their take.
September 26, 2014 -- Updated 1439 GMT (2239 HKT)
Eric Holder kicked off his stormy tenure as attorney general with a challenge to the public that set tone for six turbulent years as top law-enforcement officer.
September 26, 2014 -- Updated 1309 GMT (2109 HKT)
LZ Granderson says Obama was elected as a war-ending change agent, not a leader who would leave behind for his successor new engagement in Iraq and Syria. Is he as disappointed as the rest of us?
September 24, 2014 -- Updated 0910 GMT (1710 HKT)
Gayle Lemmon says the question now is how to translate all the high-profile feminizing into real gains for women
ADVERTISEMENT