In a 75-minute meeting Sunday night, President Obama once again demanded that more than $1 trillion in tax increases be part of any deficit reduction package attached to a vote on the debt ceiling. In the session, Obama rejected a Republican proposal to seek $2.5 trillion in spending cuts and reforms, and insisted on higher taxes on businesses and wealthy individuals. Barack Obama, It’s a curious position, given the anemic economic growth and rising unemployment. And it’s even more curious considering that Obama himself has warned about the deleterious effects of raising taxes in a struggling economy. In August 2009,...
