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This morning, President Obama unveiled a plan to cut the national debt by about $3-trillion over the next decade. The plan is somewhat different from the plan he was trying to broker with the legislature over the past summer.  Financial analyst Troy Reinhart with Northwest Quadrant Wealth Management doesn't believe the plan is feasible. "When I listens to the speech today; he's our President and I respect him as our President. But it sounded very much like a campaign speech and it's probably one of those goal posts that sets out there that will be debated upon further and further. But as an intact plan that's going to get passed, it probably isn't going to get passed through the Democratically controlled Senate and certainly not through the Republican held House." Reinhart says in reality it calls for tax increases for the wealthy, and that is not a popular proposal with the republicans. He believes its a very short sighted plan and not sustainable in the long term. Obama's plan calls for $580 billion in mandatory spending cuts and $1.5 trillion in tax revenue.   $800 billion would be realized by letting the Bush era tax cuts expire for high income households. Another $400 billion would result from capping itemized deductions for high income households.

 

 

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Traffic & Weather

 

 

 

King Solomon Lane closed between Ferguson Road and King David. (7/25)

 

Jones Road, full road closure between Bennington Lane and NE Butler Market Road. May 18 – August 18, local access only.
 

Oregon State University off-site improvements for intersection reconstruction, July 11 – August 3,    7 a.m. – 4:30 p.m., at intersection of Chandler Avenue and Yates Drive.

 

Orion Drive closed in two locations for sewer work; at the intersection with Avery Lane and between Desert Woods Drive and King Hezekiah Way.  From July 11 to Sept. 6. Detours marked.

 

Valhalla Sewer Relocation Project, Mt. Washington Drive at Shevlin Park Road intersection and North to Regency Street. Nighttime closures with detours marked during roundabout construction. Daytime closures for construction towards Regency Street.    7 p.m. – 7 a.m., July 11 – November.

 

R.A.B. Construction:

 

Murphy Road and Parrell Road closed with detours. (9/30)

 

Powell Butte Highway at Neff and Alfalfa Market Roads (8/31)

 
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