–President Obama Says He Wants A Bold And Fair Deficit Deal
–Obama Hammers GOP On Endless Tax Cuts, Medicare Voucher Plan
–Obama: ‘I’ve Cut Taxes For Those Who Need It’
–Vice President Biden Says U.S. Has ‘Turned The Corner’

By John Shaw

WASHINGTON (MNI) – President Obama vigorously defended his economic
and foreign policy record Thursday night, saying his policies have “set
the economy on a stronger foundation” and ridiculing his challenger for
offering a fundamentally flawed economic agenda.

In the final address of the Democratic National Convention, Obama
said the U.S. is steadily emerging from a devastating recession that was
caused by some of the same policies that Republicans continue to
advance.

The road to reviving the U.S. economy will not be “quick or easy”
Obama said, but he insisted that important progress is being made.

“I never said this journey would be easy,” he said.

“We’re not going back,” he added.

Obama said that he wants to resume work with Congress in crafting a
long-term deficit reduction plan.

“I’m still eager to reach an agreement,” he said.

“I want to get this done and we can get this done,” Obama said, but
added that Republicans must come to the middle and make real compromises
along with Democrats.

He ridiculed Republican presidential nominee Mitt Romney’s fiscal
agenda as failing the basic laws of math.

Obama took a hard line in opposing some of the GOP’s main proposals
on Medicare and Social Security.

“I will not turn Medicare into a voucher,” he said, in a swipe at
the GOP’s vice presidential nominee, Paul Ryan, who has proposed a
fundamental overhaul of Medicare that uses a voucher payment system.

Obama also rejected GOP ideas to allow for private accounts for
Social Security, saying that he is not willing to “turn it (Social
Security) over to Wall Street.”

The president also blasted what he said are the pillars of
Republican economic policy — “bigger tax cuts and fewer regulations.”

Obama said he supports tax reform so the tax code is “simple and
fair.”

But Obama said he would oppose additional tax cuts for upper income
individuals, adding “I’ve cut taxes for those who need it.”

Speaking before Obama, Vice President Biden delivered a steadfast
testimonial about the president’s character and willingness to make hard
choices.

He said Obama inherited an economy in free-fall and has helped
stabilize it and prepare it for a steady recovery.

“America has turned the corner,” Biden said. “We are on the way.”

Most polls show the battle between Romney and Obama to be very
close, with the election likely to be decided by the outcome in less
than a dozen swing states.

Both Romney and Obama are seeking the 270 electoral votes needed to
win the presidency on November 6.

** MNI Washington Bureau: 202-371-2121 **

[TOPICS: M$U$$$,MFU$$$,MCU$$$]