President Obama Pressures Congress To Pass Middle Class Tax Cuts

The President has taken his “Fiscal Cliff” talk show on the road, along with his mandate.  In the last couple of weeks, Congress and the Obama administration have been working on a grand bargain. The deal will include trillions of dollars in spending cuts and some much needed revenue. In other words, it’s the balanced approach that President Obama won a landslide re-election with. Apparently Republicans in Congress have forgotten those results, but the voters haven’t.

While both sides continue to negotiate, the President is spreading his message at a manufacturing facility in Hatfield, Pennsylvania. He wants people to know that Democrats and Republicans agree on extending the “Bush Tax Cuts” for the middle class. This would help save money for 98% of the people and over 97% of small businesses. The people have spoken and they want the wealthiest 2% to pay a little more in taxes.

The GOP has been facing this cold hard truth for some time and more than a few are admitting what needs to be done. Several Republican representatives, including Tom Cole, have already come out and supported passing tax cuts for the middle class, but Speaker Boehner  and Senate Minority Leader Mitch McConnell, continue to hang on to their only negotiating leverage. They are staring their own mortality in the face and are about to tumble down the ‘Fiscal Cliff” along with a few other stubborn GOP lawmakers.

The President is wielding all the power right now and Republicans need make a big deal that will help the economic outlook. As Vice-President Joe Biden said, “I promise you, the President has a big stick” and he’s going to use it. Republicans are in a no-win situation and must finally play ball. They rolled the dice and crapped out. If the U.S. goes over the “Fiscal Cliff” the Republicans will be held responsible. They have no one to blame but themselves.

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Posted by on Nov 30 2012. Filed under Featured News, Finance. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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