Obama on Deficit: Include New Taxes or I’ll Veto

Obama on Deficit:  Include New Taxes or I’ll Veto

Today, President Obama is set to propose his plan to cut deficit spending by over $3 trillion over ten years.  His plan, however, includes enormous tax hikes for higher wage earners and an increase on capital gains.  A Fox News article goes on to quote White House officials who say the President will issue a veto threat to Congress for any bill that cuts entitlement programs “without asking the wealthiest Americans and biggest corporations to pay their fair share.”  Representative Paul Ryan (R-WI), Chairman of the US House Budget Committee, said on Fox News Sunday that “Class warfare may make for really good politics but it makes for rotten economics.”

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