Obama Pushes a $600 Billion Tax Hike

I told you not to get use to the Bush tax cuts, an ill advised compromise the Republicans gave in to easily to in order to keep. I warned Obama was going to find a way to get deeper into your pockets. He is no pushing for a $600 billion tax hike.

President Barack Obama made his first direct foray into the deficit negotiations Monday. He met with Senate Majority Leader Harry Reid in the Oval Office for about 30 minutes Monday morning, and planned to meet with Republican Sen. Mitch McConnell in the early evening.

White House spokesman Jay Carney said Obama’s meeting with Reid was “constructive” and the president concluded that there are still opportunities for a deal to be reached. But he said the only way to achieve that objective would be to include tax increases or the elimination of tax breaks for big companies and wealthy individuals.

“It’s the only way to get it done,” Carney said.

The deal of course is with the debt ceiling, and as the US enters into a recession, Obama is talking tax cuts and for now the GOP is listening.