Posted on 08/02/2009 1:47:06 PM PDT by Cheap_Hessian
WASHINGTON (AP) - President Barack Obama's treasury secretary said Sunday he cannot rule out higher taxes to help tame an exploding budget deficit, and his chief economic adviser would not dismiss raising them on middle-class Americans as part of a health care overhaul.
As the White House sought to balance campaign rhetoric with governing, officials appeared willing to extend unemployment benefits. With former Federal Reserve Chairman Alan Greenspan saying he is "pretty sure we've already seen the bottom" of the recession, Obama aides sought to defend the economic stimulus and calm a jittery public.
Treasury Secretary Timothy Geithner and National Economic Council Director Larry Summers both sidestepped questions on Obama's intentions about taxes. Geithner said the White House was not ready to rule out a tax hike to lower the federal deficit; Summers said Obama's proposed health care overhaul needs funding from somewhere.
"There is a lot that can happen over time," Summers said, adding that the administration believes "it is never a good idea to absolutely rule things out, no matter what."
During his presidential campaign, Obama repeatedly vowed "you will not see any of your taxes increase one single dime." But the simple reality remains that his ambitious overhaul of how Americans receive health care—promised without increasing the federal deficit—must be paid for.
(Excerpt) Read more at breitbart.com ...
Please correct me if I am wrong, but when Bush's tax cuts in 2010 expire, won't that essentially raise the rates on the middle class? I think that is how he is going to try and spin it. This guy gives 2 sh**** about the middle class.
You're being way too generous. I suspect he doesn't care at all. Not one bit.
He has no proof otherwise.
Wow, I never imagined Øbama would do this. /sarcasm
FDR's death was untimely. He should have kicked off a lot sooner. He extended the depression through his socialist meddling.
The might of US industry,capital supply and hard working Americans brought us out of it.
FDR had little to do with that.
He was a sicko, and his private life proved it.All dictators are so.
Treasury Secretary Timothy Geithner and National Economic Council Director Larry Summers both sidestepped questions on Obama's intentions about taxes. Geithner said the White House was not ready to rule out a tax hike to lower the federal deficit; Summers said Obama's proposed health care overhaul needs funding from somewhere.
"I attribute the coming tax increase to the continued construction in Jerusalem by Israelis"
The democrat base will vote for him anyway. They don't pay taxes. They vote to get other peoples money. They don't care how the democrat politicians steal it.
Desperarion. They may have to lay off a government ee. Horrors.
“Please correct me if I am wrong, but when Bush’s tax cuts in 2010 expire, won’t that essentially raise the rates on the middle class?”
Not enough of the voting populace thinks that way.
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