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OBAMA: TIME TO TALK TAX HIKES... - Wall St. Journal
The president stayed out of the long-term deficit debate in an apparent effort to see whether Republicans would move first in offering long-term deficit-reduction ideas—something House Budget Committee Chairman Paul Ryan did with an ambitious plan last week to trim spending now and in the future.
The White House move caught Democrats in Congress off guard, according to aides, and details of the president's proposals were sketchy. Mr. Plouffe said the president will name a dollar amount for deficit reduction, although the White House wouldn't provide specifics. Introducing taxes into the discussion has the potential to complicate the resolution of coming budget fights, specifically the need to raise the debt ceiling, a move needed to prevent the U.S. defaulting on its debt....
Rep. Eric Cantor of Virginia, the No. 2 Republican in the House, said in an interview that Mr. Obama had already passed up an opportunity to show seriousness about deficit reduction with his 2012 budget. "Instead of returning back to the age-old playbook of raising taxes so that spending can continue, I think maybe the White House ought to take a look at what we're talking about…which is to cut spending as well as to reform these entitlement programs."
Mr. Cantor called the debate over top personal-income-tax rates "settled" by last year's elections and the subsequent tax deal. "It was then that we all agreed it wouldn't be a good thing if we want to see job creation for taxes to go up," he said.
The plan released last week by Mr. Ryan (R., Wis.), would make permanent the tax cuts approved under President George W. Bush, close loopholes and lower tax rates. It also envisions essentially privatizing Medicare and cutting Medicaid spending by turning the program over to states to administer. The GOP plan cuts $6.2 trillion over 10 years. Mr. Obama's budget forecast a $1 trillion cut over the same period....
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Soros: U.S. Could 'Absorb Some More Debt' - Real Clear Politics Video
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| Today’s numbers reflect the lowest level of Strong Approval yet recorded for this president. There has been a sharp decline in enthusiasm among liberal voters. |
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19% of the nation's voters Strongly Approve of the way that Barack Obama is performing his role as president. Thirty-nine percent (39%) Strongly Disapprove, giving Obama a Presidential Approval Index rating of -20 - Rasmussen Daily Presidential Tracking Poll
