WASHINGTON — Treasury Secretary Timothy F. Geithner defended President Obama’s proposals for long-term deficit reduction on Sunday and insisted that Republicans were blocking compromise by refusing to let the George W. Bush-era tax cuts for wealthy American expire as scheduled on Dec. 31.
Obama and Democratic lawmakers want to extend the tax cuts on annual household income below $250,000 but not for income above that level, as the president vowed in his reelection campaign.
Comments
Geithner may be the lamest member of the administration....even more than Biden. Counting money you were going to spend but won't as debt reduction? A plan that raises spending even more as debt reduction???
Let's see detailed plans from both sides. That would allow for nonpartisan analysis and an apples-to-apples comparison.
Michael Steele, the former National Rep Chairman, said that if you took Norquist out of the picture, Obama and Boehner would get a deal done in 24 hours. Also, republicans in the house are fearful of the next election, not from a democrat challenge, but from a primary challenge. The days of O`neill/Reagan deals of compromise are long gone because of the deep poisoning of the waters by the likes of Norquist, Limbaugh and others.
First off, I dissagree with bikel below and have no problem recognizing the reduction or war funds if indeed those funds are part of the current and past budgets. I am also delighted that the administration includes the $200 billion increase they would like to spend on unemployment ect, instead of tacking it on some other bill behind the scenes. I want transparency. I want all the monies to be open to debate. Where is the Republican's proposal? Why after all their complaints, threats and criticicisms have they not presented a detailed and specific option to counter the administrations? What is amazing is Boehner's audacity to present nothing while trying to make the Administration look like the bad guys and it seems the conservative followers are buying into anything that come out of his mouth even when there is no real content.
How come my paycheck went down? Well Hoss, that's a 'cause yer Rep. down thar in Washington made a bun'cha promises to his corporate buddies. Them's the job cree-a-tors don't cha know. Gotta protect them job cree-a-tors.
why? it contributes nothing - just "fairness" and "redistribution". How much do you want the top to pay?Tey can't make an economic argument for this.
And in economic data:
At 49.5, the headline PMI print was the lowest since July 2009, the biggest miss to expectations of 51.4 in 5 months, and down from 51.7 source: http://www.zerohedge.com/news/2012-12-03/manufacturing-ism-plummets-lowest-print-july-2009