Las Vegas Sun

October 20, 2014

Currently: 79° — Complete forecast | Log in | Create an account

Obama: Americans agree with my approach on deficit

Image

Carolyn Kaster / AP

President Barack Obama gestures as he speaks about the economy and the deficit, Friday, Nov. 9, 2012, in the East Room of the White House in Washington.

Updated Friday, Nov. 9, 2012 | 10:53 a.m.

Click to enlarge photo

John Boehner

WASHINGTON — President Barack Obama, laying down his marker for grueling "fiscal cliff" negotiations, said Friday he won't accept any approach to federal deficit reduction that doesn't ask the wealthy to pay more in taxes.

"This was a central question during the election," Obama said in his first postelection comments on the economy. "The majority of Americans agree with my approach."

The president, speaking in the White House East Room, said he wasn't wedded to every detail of the plans he outlined during the election, adding, "I'm open to compromise." But he offered no indication that he was willing to back down on his insistence that the wealthy pay more.

Republicans stood their ground. At the Capitol, Republican House Speaker John Boehner said he remains unwilling to raise tax rates on upper-income earners. But he left open the possibility of balancing spending cuts with new revenue that could be achieved by revising the tax code to lower rates and eliminate some tax breaks.

Obama said he had invited congressional leaders of both parties to the White House next week to start negotiations on averting the tax increases and automatic spending cuts due to hit in January. Both parties agree that those changes, the result of failed deficit-cut talks earlier this year, could send the economy back into recession.

The president avoided any mention of specific tax rates in his remarks, saying only that the wealthy should pay more. He also called on Congress to quickly pass an extension of tax cuts, first enacted by George W. Bush, for families making less than $250,000 a year.

Republicans, as they have throughout Obama's first term, say raising tax rates on wealthier Americans is a non-starter. Boehner said such increases would hurt small businesses just as they are trying to recover from the severe last recession.

"I'm proposing that we avert the fiscal cliff together in a manner that ensures that 2013 is finally the year that our government comes to grips with the major problems that are facing us," the speaker said. He said cuts to Medicare, Medicaid and food stamps, known as entitlement programs, have to be part of the equation.

Still, Boehner declined to provide specific proposals to avoid the fiscal cliff.

He did say that raising the debt limit, which the government will reach sometime in the spring, should be part of any negotiations. Pressed for details beyond that framework, he said he didn't want to limit ideas to address the problem. He burden is on Obama, he said.

"This is an opportunity for the president to lead," Boehner said. He repeated a version of that phrase four times during the 11 minutes he spoke. "This is his moment to engage the Congress and work toward a solution that can pass both chambers."

Join the Discussion:

Check this out for a full explanation of our conversion to the LiveFyre commenting system and instructions on how to sign up for an account.

Full comments policy

Previous Discussion: 14 comments so far…

Comments are moderated by Las Vegas Sun editors. Our goal is not to limit the discussion, but rather to elevate it. Comments should be relevant and contain no abusive language. Comments that are off-topic, vulgar, profane or include personal attacks will be removed. Full comments policy. Additionally, we now display comments from trusted commenters by default. Those wishing to become a trusted commenter need to verify their identity or sign in with Facebook Connect to tie their Facebook account to their Las Vegas Sun account. For more on this change, read our story about how it works and why we did it.

Only trusted comments are displayed on this page. Untrusted comments have expired from this story.

  1. I believe that Obama voters were more concerned about the potential of having entitlements reduced under a Republican plan. Obama preyed on that fear and won the election.

  2. Americans were given a choice between two distinct visions. They chose to stay on course with Obama. If they wanted to lose their mortgage, medical, and charitable deductions they would have voted for Romney. Every poll has shown an overwhelming majority of Americans want a BALANCED approach. New revenue and spending cuts. When it comes to cuts the majority wants foreign aid cuts and foreign military bases cut...not social safety-nets.

    If the majority of Americans wanted a privatized Medicare and Social Security...they would have voted for Romney.

    If the majority of Americans wanted to kill Big Bird, Planned Parenthood, the Department of Education, the Environmental Protection Agency, and a host of other consumer protections...they would have voted for Romney.

    As far as the Republican House majority; target every Republican that won in a district with a Democrat registered voter advantage or won by less than 5%. Dems have 195 seats and counting...they only need 23 Republicans...but Boehner would never allow a vote if those were the numbers.

  3. NO we don't. We don't want ANY more war. We don't want any encroachment on women. Just think of the cries and obscenities if a political party proposed scaling back Black people's rights? O. has failed to perform, economically, for four years. TURN IT AROUND. Get welfare out of the tax code. Get the federal government out of welfare. Get us out of Afghanistan. Keep us out of Syria. Bring our troops home from Europe, Guam, Japan. WWII has been over for about 70 years. Bring our troops HOME. We need those troops on our borders.

  4. Ms. Anderson,

    Military on our borders?

    I would think that someone with your stated background would be aware of the Posse Comitatus Act.

  5. @Roslenda

    Wow! Another student of Republican Math.

    Get over it, you lost. Your cause lost. Get up to date. This has always been an immigrant country and will ALWAYS be an immigrant country.

    That bigoted fear mongering path is a path to a regional influence. Even your buddies at Faux News are beginning to recognize this truth.

  6. Raising taxes during the Great Depression was one of the great actions of leadership by FDR that invigorated the economy, created working class incomes and helped win WWII. Eisenhower set the top tax rates at 90%. He felt it was worth the price that the soldiers paid during the war and correct as usual.

    Highest Marginal tax rate vs. year:
    1930 25%
    1934 63%
    1937 79%
    1943 88%
    1954 90% (Ike)

    At the time of the 1929 stock market crash, the highest income tax rates (25%) were close to those sponsored by George W. Bush at the beginning of his term, destined to created another Stock Market crash in 2008.

    FDR continued to raise income taxes during WWII, unlike W. Bush who borrowed money to fund the most expensive American war yet, Iraq. Bush does not read history - he proudly gets his information from higher sources.

    http://taxprof.typepad.com/taxprof_blog/...

  7. some facts for Future. The Electorate did not overwhelmingly vote for a Repugnant House. If you add up all the votes for the Dems and the Reps, you get more votes for the dems. Also if the repugnants hadn't Gerrymandered their districts as they did, The Dems would control the house today. As someone said "to the victors go the spoils" which is why the repugnants were able to do the gerrymandering of districts. I don't care who wins, when they win they get to dictate. Pres Obama won, he gets to dictate policy, and I for one, expect him to do so. If the repugnants don't lose their Bravado soon, They will have no relevance very quickly.

  8. Let us see......Electoral College:big win; popular vote: plus 3 million; Senate: plus two seats; House; plus two with 7 still counting and Dems ahead in 5. Ok, so it's not a Nixon v. McGovern but it's a convincing win regardless of the many twists and turn contributing to Republican spin. Virtually every poll got it right, virtually every poll indicates that Americans want a reasonable approach to governance and solutions to issues, nearly every polls indicates that we understand the necessity for both tax increases and spending cuts, that we believe "trickle-down" to be a failed policy. Some of you guys need to move to Colorado or Washington where you can now buy and smoke enough weed to continue your dorm-room dissertations on the economy.

  9. @ Hack :Too bad you don't understand Econ 101. If increased taxes are applied equally all costs go up the same, you and your competitor. You all therefore raise prices a similar amount and remain equally competitive.

  10. Sorry wharfrat, I believe you are the one with little knowledge about Econ, Taxes and Logic. Raising Taxes on the top 2%, will have a bigger impact upon revenue. Maintaining the tax cuts for the bottom 98% will provide help for the economy. The public has spoken about the Republican stance of "No'. If they continue this tack for the next year, they will lose the midterms.

  11. http://www.huffingtonpost.com/2012/11/09...

    Some people blame Obama for the drop in stocks. I hardly think that the result of the election caused it. Perhaps it's the looming cliff America is facing?

    Read the above news article. I trust average Americans' feelings more than I would ever trust the stock market. Wall street manipulators lurk in every cell phone, IPad, and laptop.

    The Republican loss is simple to explain: Listen to people.

    Spending a billion to change what people already believe to be true does not work.

  12. Four more years of Obama blaming everyone but himself... Nothing changed except more taxes and entitlements... Enjoy...

  13. My gosh, but the TeaNuts are STILL fuming...

    Hey, Future; how's lil' Tark holding up?

    Guess what, TeaNuts...
    The UBER WEALTHY are gonna have to pony UP.
    NO, it won't 'balance the budget'; but it WILL help, and it WILL HAPPEN.

    The Prez is correct; he has the backing of the populous for his plan; a BALANCED PLAN of cuts & tax increases on the wealthiest among us.

    Remember ALL those 'swing states', and how they were 'in play' for Mittens?
    He lost EVERY SINGLE ONE OF THEM, save North Carolina.
    "but they were CLOSE, so it's no mandate!"
    Sorry, Charlie...'close' only counts in Horseshoes & Hand Grenades.
    What really struck me was that the President carried the upper Midwest; Iowa, Minnesota, Wisconsin, Illinois, Michigan...ALL OF THEM.
    Those are some pretty smart, educated, common-sense folks up yonder.

  14. joinamerica...

    That's some nifty propaganda you've been spreading here @ the Sun the past couple of weeks.

    All of this nonsense about 'voting yourself free stuff'...
    POPPYCOCK.

    Diversionary tactics.

    The Bush era tax cuts for the upper 2 percent are HISTORY.
    THERE'S your 'free stuff', pal.

    All this 'we're the next Greece!' and 'liberals are all awful freeloaders!' is SMOKE being blown by Right Wing Propagandists.