Posts Tagged ‘Administration Officials’

Obama Officials Don’t Dismiss Possibility of New Taxes

Monday, August 3rd, 2009

So did anyone actually expect Obama to keep his pledge of no taxes on the middle class?  Especially since he has already raised taxes on items like cigarettes and don’t forget the hidden tax for all the money GM and the banks have received.  Well now he’s saying that he will “possibly” have to raise taxes on the middle-class…imagine that?

From Fox News:  President Obama may have to break his campaign pledge and raise taxes on middle-class Americans to pay for public health care and the growing deficit, an eventuality that administration officials touched lightly on Sunday as they promoted an economy emerging from recession.

With an expected deficit next year of $1.8 trillion, and spending still being planned for a $1 trillion, 10-year health care reform, officials say something will have to be done to prevent further erosion of the economy.

“We will not get this economy back on track, recovery will be not strong and sustained, unless we … can convince the American people that we’re going to have the will to bring these deficits down once recovery is firmly established,” Treasury Secretary Tim Geithner said on ABC’s “This Week.”

Asked point blank whether it was right to suggest it is a matter of when, not if, taxes will be raised, Geithner responded, “It is absolutely right.”

Read the full story here. http://www.foxnews.com/politics/2009/08/02/obama-officials-end-recession-near/