Obama cites 'legitimate fears' about debt The president says conservatives are 'right to be concerned' about deficit spending, but he says that extending tax cuts for the wealthiest Americans would only exacerbate the problem. President Obama acknowledged Monday that the government's response to the financial crisis created "legitimate fears" about the nation's growing debt, but argued that extending tax cuts for the wealthiest Americans would only exacerbate the problem. Speaking in the backyard of a Northern Virginia family before an audience that included small-business owners, Obama renewed his debate with Republicans over the best course to jump-start a sluggish economy,...