–President Obama Says His Economic Agenda Leads US To ‘A Better Place’
–Obama: Wants Deficit Deal, But Opposes GOP On Medicare, Soc Sec
–GOP VP Nominee Ryan Assails Obama Friday Morning For Weak Economy
–Hill Set To Return Next Week To Continue Fiscal Debate

By John Shaw

WASHINGTON (MNI) – President Barack Obama defended his economic
record at the Democratic Convention this week and argued that his
policies have created a strong foundation for the American economy.

“The path we offer may be harder, but it leads to a better place,”
Obama said.

In his Thursday night speech, Obama said he wants to resume work
with Congress in 2013 in negotiating a long-term deficit reduction plan
that is based on the framework of the Simpson-Bowles report that called
for more than $4 trillion in deficit reduction over a decade.

But the president offered no indication about what additional
concessions he would be willing to make to reach an accord with
Republicans who are likely to control at least one chamber of Congress
in 2013 and could control both the House and Senate.

“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.

In his remarks, Obama took a hard line in opposing some of the
GOP’s central 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 adopts a voucher payment system.

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

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

Obama even took to ridicule in describing the GOP’s repeated call
for tax cuts. “Feel a cold coming on? Take two tax cuts, roll back some
regulations and call us in the morning,” he jabbed.

Last week at the Republican convention, former Massachusetts
governor Mitt Romney, the GOP presidential nominee, and Congressman Paul
Ryan, the vice presidential nominee, vowed to make the Nov. 6 election a
referendum on Obama’s stewardship of the American economy.

In their acceptance speeches at the Republican National Convention,
Romney and Ryan blamed the president for the nation’s economic
struggles, attributing the sluggish economy and soaring budget deficits
on Obama’s policies.

“The time has come to turn the page,” Romney said, arguing the U.S.
is worse off than when Obama took office in 2009.

Romney outlined a five-point agenda for his presidency: making
North America energy independent by 2020; helping provide needed
education and training to American workers; forging new trade agreements
while punishing those nations that cheat on current agreements; cutting
budget deficits and “putting America on track for a balanced budget”;
and pushing policies to help small businesses such as less onerous
regulations, tax cuts and repealing the 2010 health care law that Obama
pushed through Congress.

Also speaking at the GOP convention, Ryan blasted Obama’s economic
stimulus plan, health care law, energy policies, housing programs,
foreign policy and especially fiscal policy. He blamed the president for
the $5 trillion in debt that has been accrued since 2009.

He said Obama has “dodged and demagogued” fiscal issues, adding
that Republicans are eager for a direct debate with the president on how
to save the Medicare program.

“Our nation needs this debate. We want this debate. We will win
this debate,” Ryan said.

“The greatest threat to Medicare is Obamacare and we’re going to
stop it,” he said.

Ryan said a Romney-Ryan administration would reduce the size and
scope of the federal government, limiting federal spending to 20% of
gross domestic product.

“We need to stop spending money we don’t have,” he said.

In a Friday interview on CNBC, Ryan blamed the president for the
nation’s sluggish economic growth.

Ryan said that he is concerned that the Fed is “trying to bail out”
bad fiscal policy. He said this is causing a kind of “fusion” in fiscal
and monetary policy.

“We need really good fiscal policy,” he said, adding that if he and
GOP presidential nominee Mitt Romney are elected they will push “pro
growth” fiscal policy and budget discipline.

“Our focus is growth,” Ryan said.

Congress returns to session next week and fiscal issues are certain
to be central to the autumn debate.

House Speaker John Boehner and Senate Majority Leader Harry Reid
reached an agreement in late July that Congress will pass a six month
stop-gap spending in September that will fund the federal government for
the 2013 fiscal year.

FY’13 begins on Oct. 1 and none of the 12 annual spending bills has
yet been approved by Congress. The stop-gap that Congress will pass in
the next several weeks will fund the government through next March.

The accord between Boehner and Reid adopts $1.047 trillion as the
FY’13 discretionary spending limit.

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

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