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Subscribe to RSSIf Congress can't agree on a deal to avert the fiscal cliff, the president said taxes will rise by about $2,000 for the average family. NBC's Kristen Welker reports.
HATFIELD, Pa. -- President Obama today continued his efforts to push Congress to extend the Bush-era tax cuts for income below $250,000 with a visit to a toy factory here in suburban Philadelphia.
"We talked about this a lot... We had debates about it. There were a lot of TV commercials about it," Obama said. “At the end of the day, a clear majority of Americans -- Democrats, Republicans, independents -- they agreed with a balanced approach to deficit reduction and making sure that middle-class taxes don't go up.”
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The non-partisan Tax Policy Center says if these tax cuts expire at the end of the year -- as they are set to do -- about 90% of Americans would paid more in taxes and middle-income families would see their taxes rise by about $2,000.
Obama didn’t present any new ideas in his first speech since House Republicans rejected Treasury Secretary Tim Geithner’s proposal that he presented in meetings with congressional leadership yesterday. That proposal included $1.6 trillion in tax increases, $400 billion in cuts to Medicare and other programs, and ending Congress' control of the debt limit.
But Obama did couch his frustration with Congress in humor.
“I've been keeping my own naughty and nice lists for Washington," he said at a Rodon Group plant that makes the popular K'nex brand of toys. "So you should keep your eye on who gets K'NEX this year. There are going to be some members of Congress who get them, and some who don't."
Susan Walsh / AP
President Barack Obama looks over a rollercoaster with K'NEX Inventor Joel Glickman, left, and Rodon Group President and Chief Executive Officer Michael Araten, right, during a tour of the company in Hatfield, Pa. Friday, Nov. 30, 2012.
Even the seriousness of the country’s fiscal health couldn’t keep the president from joking about his affable vice president.
Talking about the colorful toys in the factory, Obama said, “Joe Biden was in Costco. He wanted to buy some of this stuff. But I told him he had too much work to do. I wasn't going to have him building roller coasters all day long.”
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Drive her off the cliff maybe just maybe this country will wake up and get its act back together then.
One lunch with Romney and even the Incompetent Hussein "little" o, can make a rational proposal. Maybe he should "invite" Romney's Competent Experience over more oftem.
For over thirty years republicans have catered to the wealthy under the false pretense of trickle down prosperity. The rich have never had it so good...the working class have never had it so bad. Re-distribution of the wealth already took place in this country starting when Reagan took office. It went from the working class to the elite! It's time the pendulum swings in the opposite direction!
Good luck with that, what you fail to understand the rich always out smart the government. It is basic 101 economics they are way smarter than any elected person. And that will never change. Dumbo just needs to quit pissing away money.
Buying votes by giving to those that want free stuff will only get this country in deep trouble. You can't expect the republicans to allow this to continue.
We all know our fine leadership will kick the can down the road, pass just enough of a budget to keep the Country running, but not address the nuts and bolts of the problem.
Agree - We need to stop kicking the can and relieve those from office for not preforming the job duties for which they were elected. This can has been kicked down the road 4 years now and is no wonder we can not recover since no one knows what kind of BS the Obama administration is going to pull next. Yea some like Obama will blame it on congress but fact is they are the only reason Obama has not wasted more of our tax dollars and driven us further in debt. Are you flushing 40% of every dollar you earn down the toilet because thats what he is doing with our tax dollars covering interest even before paying all the government waste and fraud that both parties agree takes place.
Dumbo has no interest in a balance budget, his only interest is to keep spending money we don't have and increase taxes on EVERYBODY. This guy is just one big circus clown.
His true interest is watching america in ruins.
President Obama never points out that Clinton-era revenue from the wealthly yielded much less revenue than that from the middle class.
Cut spending Mr President. Congress needs to hold fast.
Chess or checkers anyone!!!!
The games the the President and congress play!! Oh my.
Concessions and tax go hand in hand and the President does not want to make any cuts. Well that is just plain stupid. Raising taxes a lone will not solve the problem.. Balance is what is needed.
Most here blame the reps, WRONG. Reps have offered several plans now and in the past for a balanced approach but the President and Dems wont even look at them. Is that putting your head in the sand? Any plan should be looked at for there might be some good points in it. One side is never completely right so SMART people look at other peoples ideas all the time.
We have become a DIVIDED nation who points the finger at most anyone or anything so blame is not on them!!
It is sad to see so many people here degrade a party and blame them for all the problems that the US has.
http://www.whitehouse.gov/sites/default/files/omb/budget/fy2013/assets/tables.pdf
The proposed $400B in spending cuts over the next 10 years divided by the projected $46,949B spent represents a slash of .85%.
For you bargain hunters out there; that's buy 117 and get 1 free. For you New Year's dieters, that's eliminating 1 teaspoon of sugar from a 2,000 calorie diet.
I am one of the 'middle class' whose taxes Obama want's to cut. But I'd rather pay more taxes than see this irresponsible President simply stick some taxes to the wealthy, and continue to dig an ever-deeper debt hole for my children and grandchildren.
The problem is our damn politicians dont play by the same rules the rest of America does. They vote themselves their own pay raises, have pension/retirement and other benefits like insider trading rights (I know there is a law against it, but I'm sure they've all found a way around it), they work on legislation that helps themselves and their big money contributors, they've drawn political voting lines that keep themselves in office, etc. In other words they've insulated themselves from the real world quite nicely.
I'd like to see how they'd be reacting if they had to use the same health care, retirement and other benefits/detriments that the average American has to deal with. They draw a handsome 6 figure income from what recently has amounted to a part time job. Whats wrong with that picture?
Where in America do the employees have the right to decide their pay rate, give themselves automatic pay raises, decide their own healthcare and retirement benefits while the owners wallow in the gridlock that our politicians create due to their uncompromising attitude?
America needs to move forward, unfortunately the current makeup of our congrass will not allow that to happen due to their allegance to people like Grover Norquist and those who lobby for huge corporations.
I've read that that 46% of congrass is part of the 1%ers. Whats wrong with that picture?
Things need to change and that change starts with our votes. Get all the current incumbants out of office and elect members that can relate to the 99% instead of just the 1%.
I say let's go over the "fiscal cliff". Like Thelma and Louise. Obama is a collectivist. It is what he wants. When it hurts, America will wake up and realize that they got what they wanted and that was a president who does all the thinking for them and that they may have to start researching who they vote for the next time.
Right on man ... I wanted to also let the car company's and banks go over the cliff. We did all the entrepreneurs and clever American people a disfavor by bailing out the car unions. Think about this, if we let the car companies go belly up I can believe these entrepreneurs will step in and build an even better car industry. The same with the banks! That is how America works. Just because GM, Chrysler, etc would go belly up does not mean the car industry also goes belly up. There is this great American way to build something when there is a demand! And now we are saddled with these unions who will drag down these car companies even further, over time - count on.
I don't understand what Obama is going to gain by not leading, acting NOT like a President, and getting nothing done. Obviously, he is not a Lincoln, Clinton, or the other great Democratic Presidents who WORKED with the opposition to get things done, for the people. He is showing what Romney has said, he is NOT a leader, if he is, he LEADS FROM BEHIND! Lets get something straight liberals, Clinton started this economic cliff by enabling anyone to get a house loan. Remember, housing started this issue, or are you just purposely forgetting history. So stop blaming Bush for something your King Clinton (whore-monger) started! Tell your King BO to get off the front page and take leadership! BTW, He did not get elected because of his fiscal cliff plan so stop saying the American people gave him a mandate! He got elected because he was able to paint Romney a different color and the blacks, Latinos and women bought it, not because of his leadership skills - if you don't believe me, look at the facts! FYI, at work, I have yet to find someone who admits they voted for BO ... that says something.
So when a person went to get a loan the president approved or disapoproved the loan.
No, he spent more money on administrators to do his approving! You are being stupid by asking this question.
Rick
Lincoln was a Republican. Enough said.
Beware of any Obama and Dems proposals. They are like teenager`s plea to his girlfriend : i just want a kiss, nothing more.
... as the spending picks up speed like the runaway hormone train.
What does the bill say? Is it just an extension of the Bush Tax cuts for people making less than 250k. What else is in the bill?
Median Housefhold income 2006-2010 was $51,814. What is happening is the poorer are getting poorer and the rich are getting richer.
250k a year is not rich but it is hardly middle class. We keep hearing about this is going to hurt small business. If you have 40 people working for your small business and you only make 250k a year you should not have to pay any taxes.
It's time to allow ALL the "Bush Tax Cuts" to end. Then, everyone who has hated Bush for so many years won't have to continue to avail themselves of any tax benefit with the BUSH name attached to it. Over the cliff we go!
1.6 trillion in new revenues? We'll have that debt paid off in no time. Right? Wake up! Now these stories don't even say that's spread over 10 YEARS! Obama wants 160 billion a year more revenue, 16% of our yearly 1 trillion deficit. Forget touching our national debt! All this discussion for a drop in the buckett. Both "proposals" scratch the surface. This cliff is a speed bump. I guess we don't want the truth. We'll all have to tighten our belts to have a chance at our countries economic survival. Please get real. This path is UNSUSTAINABLE.
Don't forget that the Payroll Tax Holiday extension that is proposed loses $100-110B in revenue annually.
Republicans seem to want to play by their own set of rules! Obama has put a proposal on the table (via Geithner) and now it is Boehner's turn to put a counter proposal (not just say they want changes in entitlement programs and cut in spending!). Everyone except the republicans think that it is the "adult" way of doing things and leading - not laughing at proposals! If they let the negotiations hit a roadblock becuase of their insistence on getting a proposal that contains more cuts in spending (more than 400B dems have proposed) then they will be blamed for the seond recession.
You are correct about only one thing in your message - BO put a proposal n the table. You are NOT telling the whole facts. The proposal on the table only allows a token spending cut. Without significant spending cuts we will be right back here in two years! You blame the Republicans for not putting something on the table. BTW, here are the Democrats in the House and Senate? Where is their proposal? I can assure you there are Dems in Congress who do not agree with BO!!! but keep their mouth shut to not jeopardize a seat near the president.
Are you leftists born this way or is an aquired condition? Did they theach you in school to hate conservatives or is in the genes? The President has a Dem majority in the Senate so what keeps him from pushing his agenda thru? Mostly the fact that some on his side think that his plan is worthless.
The Cowboys need another quarterback so they propose a trade with the Saints of Roma for Brees, two linemen and four draft picks. Is that a proposal? What Obama proposed is a joke. No congressional oversight on the debt ceiling? He wants 1.6 trillion in more taxes and we will talk about the cuts later?
No one should have to pay a penny more in taxes until this government becomes more fiscally responsible with our money.
Anyone that says likewise must like throwing away our money on important things like the GSA parties, the Muslim brotherhood stimulus, and a million other pork barrel projects (sarcasm)
Cut Spending!
I just don't know what to do?
So I'm going to Hawaii
BHO
It is interesting how so many Americans are willing to decide how to spend other peoples money or that the "rich" should pay more taxes. What if EVERY American paid taxes? Seems pretty "common sense" to me. And what if we all paid a higher rate of tax so we can pay off the $16 trillion in debt? Seems to me that would be a good thing. So, instead of looking for others to get out of this problem, all Americans need to suck it up and pay more taxes. What do you think?
No one should have to pay a penny more in taxes until this government becomes more fiscally responsible with our money.
As nice as that sounds viknat, we all know that will never happen. The wealthy are the target here and once they get taxed higher, they will move their money and businesses elswhere. Then who will Obama try to milk to pay for his high spending and providing for the lazy.
Seems like it's not such a great time for Obama to take his 20 day, 4mil vacation to Hawaii. For someone who keeps pointing the finger at Congress to do their job, where will Obama be??? Oh yeah, in the surf. Thanks for voting for a president who sees his vacation time as more crucial than the state of our country.
So when does Congress recess for another vacation?
Regarding the supposed 20 day vacation, be honest, the vacation spot has been put on restriction by the secret service from December 17th through Jan. 6th, and the 4 mil. is to pay for secret service protection and accommodations. The President pays personally for all other expenses including time on Air Force 1. does anyone know the actual dates for the Presidents vacation, if in fact he will take same with the fiscal cliff issues? Will Boehner etal hang in Washington to complete the Peoples business or are we going to have another recess where nothing is done? December 31st. is fast approaching and all we are getting is more posturing.
And their hookers
"The President pays personally for all other expenses including time on Air Force 1"
Skyparrot, you couldn't be more wrong. WE pay for Air Force 1. That has already been established for many years and many Presidents. Stop pulling the wool over your own eyes. Geez, who have you been listening to?
A conscientious leader would postpone a vacation during times of intense crisis.
Like Bush did with Katrina?
We need to go over the cliff. No more closed door meetings and back room deals. Why are we not seeing debate? What kind of government is this? Bills need to be initiated in the House that address each of the problems and sent to the Senate. Flood them with bills.
Like most republicans I vote to go over the cliff now and be done with it, I'll survive it.
Odumbo and the democrats offer nothing new since before the days of Nixon. Increase taxes now and maybe we promise to reduce spending in the future, which has never happened.
If we just go back as far as Reagon we are waiting for $11.00 in spending cuts that were promised and haven't happened yet.
Odumbo wants to be the single person who controls our debt ceiling???, what a joke of a president he is. Maybe when we go over the cliff and all those screaming for more freebies are standing in the soup line, happy for a bowl of soup, they may finally understand the major mistake they made re-electing him.