2 Obama administration officials can't guarantee middle-class Americans

[I AM EL-NINO]

2 Obama officials: No guarantee taxes won't go up
won't see tax hike
By Philip Elliott, Associated Press Writer
On Sunday August 2, 2009, 9:24 pm EDT

.WASHINGTON (AP) -- President Barack Obama's treasury secretary said Sunday he cannot rule out higher taxes to help tame an exploding budget deficit, and his chief economic adviser would not dismiss raising them on middle-class Americans as part of a health care overhaul.

As the White House sought to balance campaign rhetoric with governing, officials appeared willing to extend unemployment benefits. With former Federal Reserve Chairman Alan Greenspan saying he is "pretty sure we've already seen the bottom" of the recession, Obama aides sought to defend the economic stimulus and calm a jittery public.

Treasury Secretary Timothy Geithner and National Economic Council Director Larry Summers both sidestepped questions on Obama's intentions about taxes. Geithner said the White House was not ready to rule out a tax hike to lower the federal deficit; Summers said Obama's proposed health care overhaul needs funding from somewhere.

"There is a lot that can happen over time," Summers said, adding that the administration believes "it is never a good idea to absolutely rule things out, no matter what."

During his presidential campaign, Obama repeatedly vowed "you will not see any of your taxes increase one single dime." But the simple reality remains that his ambitious overhaul of how Americans receive health care -- promised without increasing the federal deficit -- must be paid for.

"If we want an economy that's going to grow in the future, people have to understand we have to bring those deficits down. And it's going to be difficult, hard for us to do. And the path to that is through health care reform," Geithner said. "We're not at the point yet where we're going to make a judgment about what it's going to take."

Selling that proposal, however, has proved tricky.

On Friday, the government released a report that suggested the worst recession in the United States since World War II appears on the verge of ending. The economy dipped only slightly in the second quarter of this year -- falling at a 1 percent annual pace, better than expected.

The president cautioned against instant turnaround, though.

"Well, as I've said, I think we maybe are beginning to see the end of the recession, but it's still going to be some time before we are seeing companies hiring again. That's usually the last thing that happens," Obama said in an interview with Univision that aired on Sunday.

"So I think we are still going to have a tough remainder of the year -- probably until next year -- but, you know, at least what we are seeing -- we've pulled back from the possibility of a depression. That's not the danger."

Many analysts think the economy is starting to grow again in the current quarter, setting up a long-awaited recovery.

"Most private forecasters -- and let's use their judgment -- suggest you're going to see unemployment start to come down maybe beginning in the second half of next year," Geithner said, adding those same economists predict positive growth during the second half of this year.

At the same time, Geithner and other administration officials are contemplating how to ask Congress to extend -- again -- unemployment benefits for the millions of Americans who have lost their jobs in recent months. The proposal drew measured support from Sen. Jim DeMint, R-S.C., as long as the benefits are drawn from the already approved economic stimulus package.

"We need to take care of those who are unemployed, but we also need to make sure they get jobs," he said.

Those jobs, though, are still elusive. Greenspan said the economy is slowly coming back.

"Collapse, I think, is now off the table. We were teetering for a while," he said.

Greenspan said he doesn't think the Federal Reserve should be considering raising interest rates to ward off inflation, although he added that the Fed will have to rein in credit and raise rates at some point.

Obama's opponent for the presidency, Sen. John McCain, questioned whether the administration's actions will prove beneficial for the country.

"I think it's pretty clear, if you pump trillions of dollars into the economy, you will see some recovery," the Arizona Republican said while giving Obama credit for the improvement. "But the long-term consequences, I think, are going to be, unfortunately, devastating unless we do something about it."

Geithner and Greenspan appeared on ABC's "This Week." Summers appeared on NBC's "Meet the Press" and CBS's "Face the Nation." DeMint was interviewed on "Fox News Sunday." McCain spoke with CNN's "State of the Union."



Obama, his admin, and his supporters are full of shit for selling this to us in the election if it does indeed happen. Im sure it will happen as I was back in Nov. But ohhhhhhhwas I chastised for even questioning the great Obama and his plans for taxing the middle class.

"Let me be clear....if you make under $250,000 a year your taxes will not increase"

Guess who else paid the price for lying about this subject. G.Bush Sr. "read my lips....no new taxes".

[Ash]

If I had a problem with my taxes being raised I would have voted for a Republican, but I didn't.


*burns American flag*

[david austin]

Imagine that... A politician being a politician.

I applaud Obama for being well educated and (imo) the prototypical idea of what a leader 'should' be. He is a great orator. He has a calm about him. He seems like a good man.

He is a game changer to be certain... just not in the ways i believe most people were 'hoping' for.

[Dionysos]

People who believed he could fix the economy with massive spending and not have to raise taxes are idiots in the first place.

[tricky]

americans love government programs...they just hate having to pay for them. just look at cali

[david austin]

Originally Posted by Dionysos

People who believed he could fix the economy with massive spending and not have to raise taxes are idiots in the first place.

I agree... So just come out and say it. Even today the admin went on the defensive to continue to preach the 'no tax' bs.

[Dionysos]

Originally Posted by david austin

I agree... So just come out and say it. Even today the admin went on the defensive to continue to preach the 'no tax' bs.

Because if you say it straight out, you get trounced like Dukakis.

[djetaine]

sucks for broke asses.

[vinnie97]

^I've never before witnessed someone so willing to give so much to the guv'mint. The seriously broke asses won't be paying the brunt of this (how can they by definition; something about siphoning water from a turnip)? It will be those who find themselves with only a little cashflow right now.

Now's not the time for new stupid-ass money pit programs (ahem, health care "reform").

[djetaine]

Originally Posted by vinnie97

^I've never before witnessed someone so willing to give so much to the guv'mint. The seriously broke asses won't be paying the brunt of this (how can they by definition; something about siphoning water from a turnip)? It will be those who find themselves with only a little cashflow right now.

Now's not the time for new stupid-ass money pit programs (ahem, health care "reform").

lol, you take me too seriously. I am one of those guys with only a little cashflow. I'm gonna pay my extra taxes with my first time homebuyers credit. Whoo hoo!

[synergistic]

Originally Posted by david austin

Imagine that... A politician being a politician.

I applaud Obama for being well educated and (imo) the prototypical idea of what a leader 'should' be. He is a great orator. He has a calm about him. He seems like a good man.

He is a game changer to be certain... just not in the ways i believe most people were 'hoping' for.

so let me get this straight... A while back he was the man that was going to "change washington" "he'll bring transparency and accountability" "with hope, yes we can" and now his defence has been reduced to "well, its just a politician being a politician". Does anyone not see anything wrong in the total sell-off of principal and promise for a return to the status quo?

[Ash]

George W. Bush gets re-elected-Americans are idiots
Barack Obama gets elected-Americans are idiots


I think I see a trend here.

[I AM EL-NINO]

Originally Posted by tricky

americans love government programs...they just hate having to pay for them. just look at cali

People with any sense dont like Gov. programs.

[Ash]

You don't have to like government programs to use them. I'm sure neither you or anyone in your family has ever used a government program. I'm sure you paid for your elite college education with cash up front am I correct?

[david austin]

Originally Posted by synergistic

so let me get this straight... A while back he was the man that was going to "change washington" "he'll bring transparency and accountability" "with hope, yes we can" and now his defence has been reduced to "well, its just a politician being a politician". Does anyone not see anything wrong in the total sell-off of principal and promise for a return to the status quo?

Ask the people who voted for him.

Since when does accountability and transparency equal the hiring of a few dozen 'czars'? What do these people do exactly? Do they yield any actual power over anything? I must have missed the appointment of 'czars' in the constitution (I mean... if we are going to change for the good right?). And on one more note... Is anyone actually looking at these appointments?

His whole campaign was built on this magical idea of hope and change when in reality its the same ol game... just from the other side of the fence. The difference here is the power grab could be immense because everyone is looking the other way.

And on the subject on taxing...

The people who are in charge of the money are saying its likely not possible to fund all of this WITHOUT raising taxes. If thats the case then so be it. Trust me... we will have to spend A LOT more to get out of this condition contrary to what you watch on CNBC. If I am going to have to pay more taxes then I understand. But quit lying to my face and acting like I cant do simple math. You cant pull a debt load forward for practically an entire generation without paying for it.

So yes... I will say Obama is nothing more than a polished politican because he has overpromised and will likely underdeliver.

Imagine that...