Thursday, June 7, 2012

Obama Says He Will NOT Extend Bush Tax Cuts, Reasons Exist to Doubt Him

Yesterday I wrote about Bill Clinton's comments regarding the extension of the Bush Tax Cuts and that I felt that this was an small indicator that they would more than likely remain in place through 2013 and possibly become more or less permanent.

Obama responded yesterday to Clinton's comments by saying that he would not be willing to extend the tax cuts for wealthy taxpayers and only wants to keep them in place for the lower and middle class families.

The problem is the Republicans have no desire to agree to these type of cuts and they're needed to get anything past.

The article alludes to the fact that giant spending cuts are approaching quickly, starting this coming January and this deadline puts pressure on lawmakers to make a decision soon. But we've had more than a few looming deadlines in the past couple years, not the least last years deficit ceiling issue. If these current politicos are good at anything, it's passing the buck and it wouldn't be surprising if they were able to find a way to avoid making any big decisions between now and then, either through the passage of legislation or, more likely, avoiding the issue and acting like it isn't there.

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