Topic: Obama warns of Scrooge Christmas.
smart2009's photo
Fri 11/30/12 11:00 PM
US President BarackObama has warned of a "Scrooge Christmas" if tax breaks are not renewed for working families in a deal to avert a so-called fiscal cliff.
Mr Obama made the remarks as he tried to win public support for his planon a visit to a toy-maker in Pennsylvania.
But Republican House Speaker JohnBoehner said talks with the White House had gone"almost nowhere".
He said President Obama's plan to raise $1.6tn (£1tn) of revenue over 10 years was not a"serious proposal".
Planned tax rises and spending cuts due to take effect on 1 January could send the US back into recession, economists warn.
'Lump of coal'
On Friday, Mr Obama toured the Rodon Group manufacturing facility, where partsfor the children's toy K'nex are made.
The Democratic president said it was the type of company that depended on middle-class customers to buy its goods, adding it would be hurt if ordinary Americans faced a tax rise.
In a speech at the factory, Mr Obama said both parties would have to "get out of our comfort zones" in order to negotiate a deal onthe fiscal cliff, and pledged he would be willing to do thesame.
He said that if Congress did not extend soon-to-expire tax breaks for the middle-class, it would be like receiving a"lump of coal" at Christmas.
"That's a Scrooge Christmas," Mr Obama added.
Tax cuts passed during the presidency of George W Bush are due to expire underthe fiscal cliff.
Mr Obama favours extending the break for households earningbelow $250,000. But he wants taxes to rise for those on income above that sum.
Mr Boehner said that asking the top 2% of US taxpayers to pay more would deal a "crippling blow" to a fragile economy.
He also criticised as inadequate spending cuts that were proposed on Thursday by the Obama administration.
Treasury Secretary Timothy Geithner put forward a plan to congressional leaders that would raise $1.6 trillion in higher taxes over a decade.

AndyBgood's photo
Fri 11/30/12 11:12 PM
And fuel prices are miraculously coming down in time for the holidays!


Not like I got any money to spare.

Maybe if Obama sends some free money my way maybe I can have a Christmas for a change.

Conrad_73's photo
Sat 12/01/12 12:16 AM
what he worrying about!
Doesn't he have an all-Expenses-Paid Trip to Hawaii?laugh

smart2009's photo
Sat 12/01/12 01:06 AM
back into recession?

Conrad_73's photo
Sat 12/01/12 01:31 AM

what he worrying about!
Doesn't he have an all-Expenses-Paid Trip to Hawaii?laugh


http://thepeoplescube.com/peoples-blog/obama-s-4-million-hawaiian-vacation-t10103.html



pitchfork

smart2009's photo
Sat 12/01/12 01:39 AM


what he worrying about!
Doesn't he have an all-Expenses-Paid Trip to Hawaii?laugh


http://thepeoplescube.com/peoples-blog/obama-s-4-million-hawaiian-vacation-t10103.html



pitchfork

laugh