Obama says he believes debt-cutting framework can be reached before Christmas.

  • Article by: JIM KUHNHENN , Associated Press
  • Updated: November 28, 2012 - 5:42 PM
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flipper24Nov. 28, 1211:40 AM

is till don't understand how raising taxes on only the rich will prevent my taxes from going up as well, as the rich will only contribute an additional 8% of what is needed. i don't believe spending cuts will make up the 92% balance, so i am expecting tax increases to come anyways. it may not be a income tax, but their are plenty of other avenues to tax people.

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msfb99Nov. 28, 1212:10 PM

Raise taxes, cut spending, have a plan to reduce the debt.

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mylittleidNov. 28, 1212:11 PM

No one says that raising taxes on the rich will entirely solve the problem. But until recently, Republicans have said that raising taxes on the rich can't be even part of the solution. It's good to see that they are starting to back away from that extreme position.

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whyarewehereNov. 28, 1212:24 PM

The President's first concern should be looking out for the concerns of the country and its long term financial health. Continuing to make the focus of the yearly deficit challenges on only the 8% that would be made up by higher taxes on the 1%-ers speaks of Obama's disingenious attitude. Spending is at unbelievable and distructive leves, and grossly irresponsible. He should be more forcefully called out on it - by media.

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marathongirlNov. 28, 1212:25 PM

"similar efforts late last year to extend a payroll tax cut resulted in congressional passage." - And that tax cut is one that never should've been put in as it was. That was the plan to extend unemployment and cut payroll tax, ie cut what was going into social security...so social security is in trouble, yet we are contributing less to it. Makes sense right? Maybe we some finance people should get in there and take a good hard look at the reality of what we need to do. Stop spending big time is one of them. Then take a look at taxes and what needs to be done. Increase taxes and you know government will just increase spending...who cares about the debt already there...

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johnnycgoodNov. 28, 1212:32 PM

President Barack Obama said Wednesday he believes that members of both parties can reach a "framework" on a debt-cutting deal before Christmas. -------- I heard this same line in 2008. Why should I believe it now?

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punky2012Nov. 28, 1212:50 PM

Obama and the Democrats REFUSED to cut spending last year when warned of an impending credit rating reduction. The credit rating was reduced. If Obama and the Democrats wouldn't cut spending last year, why would they do it this year? Oh, I forgot: Obama had to run for re-election and needed trillions in spending to buy votes. Say, how many welfare recipients do you think voted for Mitt Romney?

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clnorthNov. 28, 1212:50 PM

He is pushing for the tax increases in this deal, yet is unwilling to cut anything. He will be more than happy to let them all expire and have the automatic cuts to the military. Then he can blame the Republicans for it. What a pathetic leader.

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lostwolf95Nov. 28, 1212:55 PM

In 2008, Boehner agreed to a deal, then went to his fellow republicans and was shot down. Sure there will be a bunch of democrats and republicans who wont vote for any bill where each side loses something. Its just a matter of collecting enough votes on each side to get it done. Lets go people, start contacting your congressman!

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mtbikrNov. 28, 12 1:21 PM

Talks of cuts with no mention of what will be cut. This has been the Democrat's MO for decades: 1)Promise cuts in return for tax increases, 2) Get the tax increases, reneg on cuts promise. 3)Blame the inevitable failure on Republicans.

Well if it happens again, I too will blame the Republicans...for falling for it again.

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