Obama Outlines Fiscal Cliff Proposal to GOP through Treasury Secretary Tim Geithner; Wants Tax Increases and Spending Increase; Offers No Specific Spending Cuts – Video Report 11/29/12
Here is a video report on the plan President Obama has put forward to Republicans as a proposal to deal with the “Fiscal Cliff.”
Obama had his Treasury Secretary – Tim Geithner – lay out the plan to Republicans, including Senate Minority Leader Mitch McConnell and House Speaker John Boehner. Unbelievably, not only is Obama not proposing any serious or specific spending cuts for what is clearly a spending problem, his proposal would raise taxes and INCREASE spending by $50 billion! Republicans say the spending increase being proposed by Obama is a “non-starter.” The annual budget deficit is over $1 Trillion A YEAR! Obama wants to increase taxes, which they say will increase revenue by $1.6 Trillion OVER TEN YEARS. Obviously, ten years will bring deficits of more than $10 Trillion. For all his talk about taxing the rich, it won’t even begin to touch the enormous deficit we are running. We have a spending problem – and Obama is not serious about tackling that problem.