Budget deficit needs to be tamed and health reform paid for, officials say
WASHINGTON - President Barack Obama's treasury secretary on Sunday said 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.
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14 comments:
LMAO...if anyone didn't see this coming they are BLIND!!!
Democrats can't help but raise taxes; it's in their blood...nevermind the tax raise will be over his f@@kin health care stupidity and his tripling the budget deficit in 6 months time!
American Revolution Against The Usurper!
Well! Finally some truth from the White House. How refreshing!
Craig Theobald
Ironshire
The Obama administration started out badly, and has been getting worse ever since.
You Obamabots out there sorry yet?
Everyone predicted Obama would be worse than Jimmy Carter. Looks like they underestimated how bad this could be.
It's only logical that the taxpayers have got to pay the deficit. I'm amused at the GOP aversion to taxes while spending through a mountain of debt under Bush.
Yes, 5:00 but don't forget Bush's spending was on NATIONAL SECURITY, the very first priority of the Federal government whereas NObama's spending is pure government giveaway programs.
There is a huge difference.
WHAT A SHOCK! To all you people that voted for him, it looks like you're going to get your change. Your taxes are going to change on the upward side. The only thing we'll have left when this bunch gets through is a little bit of pocket change.
When you bailout failures due to greed, promote and give Unions money / control, pay health care for those who don't want healthcare insurance and illegal immigrants who demand free healthcare who pays the price the middle class. Only incompetenet and uneducated people would not understand this. Does this tell the mentality of Obama, whois supposedly a lawyer and his Obamabots. This is history repeating itself. Where are the Educators the Unions represent? Do they not know their history.
5:07 Bush was spending on tax cuts and a grudge war. Buying senior votes with a drug program with no taxes to pay for it. He put all on a credit card, our credit card
Oh, yea; I forgot - It's Bush's fault.
You people never quit, do you?
Congress MUST approve govt spending.
Look it up.
Dems have been in control for how long now?
(Republicans in congress are just as bad - 'cept for a couple)
Mike G
the people who voted for him either are too rich to care about taxes or do not pay any at all.
5:31. Yes, most of the spending was on National Security. Have you forgotten 9/11? As for the tax cuts, amen. They helped me tremendously. I agree medicare may have been one of his mistakes. But given that should we not then take a lesson from it's failure. That is just one part of a system he wants to take complete government control of.
I find it interesting that I'm the only one that posts here using my real name.... Why is that?
Craig Theobald
Ironshire
You're not the only one.
5:31 So how much has been put on the credit card since January?
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