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 ...
gawd this game is getting old already.
“I will cut taxes - cut taxes - for 95 percent of all working families, because, in an economy like this, the last thing we should do is raise taxes on the middle class.”
Barack Obama
When he raises taxes on the middle class, he might as well announce that he is not seeking a second term.
That IS a guarantee. They don’t even consider completely rescinding the Bush cuts as a tax rise. Only amounts above that are a tax hike, and only if not hidden as something else, like deduction phaseouts, specific project surtaxes (e.g., millionaire’s tax for the health plan), SS parole limit rises, and the like.
Come on 2010.
It'll be fun watching the MSM attempting to justify his going back on a campaign promise. And they will most certainly try. They already have.
They—the liberal media that has a vested interest in Barry succeeding—will invariably blame Bush.
I would almost go as far as predict that when Barry does announce that taxes will have to be increased, he will blame Bush.
Doesn’t surprise me at all.
I am not to sure how this helps the ecomony. It seems to me it just keeps the government spending more money instead of the people who know how to spend it best.
“It’ll be fun watching the MSM attempting to justify his going back on a campaign promise.”
This isn’t just “a” campaign promise...it was “THE” campaign promise. This would be his “No New Taxes” fiasco that cost GHWB the election to Clinton.
Obama will try to go a lot further, which is why we have a legal exodus of private capital off shore. We can see it coming.
They'll manage, I'm sure.
Health care or not, back in the summer and fall of '08 is there anyone with a double digit or higher I.Q. that actually believed then and believes now that we (as middle income class) won't see a tax increase?
Just be on the look out for tax hikes not labeled as tax increases.
Or better yet, a restructuring of the classes.
Yet they will STILL blame Bush!
From the Chicago Way to The Palin Way. Maybe he could resign in a few weeks and say he is doing this because he is too distracted with merely being the Kenyan Poseur. Now, he wants time to comtemplate what is best for the country and the world and considering what he is going to do next, like run for God.
Yes, and the "middle class" will be redefined as those making less than ten dollars a year.
On the bright side, we are all now considered to be filthy rich!
So, people should be surprised that his campaign promises aren't worth the air it took to utter them? Remember, this is the same orator/demagogue that compliments his audience on living in the finest nation on earth and then asks them to join him in changing it for what he hopes will be better (for him and all of the other Wright/Ayers/ACORN lovers)!
Of course taxes will go up. Also, look for bread to be $10.00/pound. It is already $4.06 in Winko(I forget the brand). We just got back from shopping and my wife pointed the bread price out to me. These government people have fouled up our economy beyond all repair.
???
I know of FDR banning private US Ownership of gold in April 1933 with Executive Order 6102, but I know of no actions by someone named 'Theodore'! Care to enlighten me?
Hope and Change. A passel of taxes, healthcare rationing, loss of freedom, and a load of damn lies.
Democrats are nothing but communists.
Thanks all you greedy bastards who voted for him.
Now, we can all be equally miserable and equally poor.
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