Flaylo
Handsome Devil
Obama Won't Extend Bush Tax Cuts Again: Pledge To House Dems
The stakes are high, watch the Repugs crumble and shake.
The President responded by saying it was vital to have revenues as part of the mix, stressing that a budget can't be balanced on non-defense discretionary spending or the "backs of the most vulnerable." Obama added, according to the member, that, "he would not support extending the Bush tax cuts for the top two percent again no matter what hostages Republicans took."
That line in the sand was greeted warmly by attendees, many of whom were disillusioned with the administration's decision to cut a deal with congressional Republicans in December 2010 that allowed all of the Bush tax cuts to continue.
The politics now are notably different. As pressure has mounted for lawmakers to make major cuts, both to discretionary spending and entitlement programs, Democrats have turned to raising revenues as a partial budget substitute. As a Democratic source briefed on Thursday's meeting relayed, House Minority Leader Nancy Pelosi was adamant that the party not cut Medicare benefits. A recent upset victory in New York's 26th district has seemingly provided the party with the type of template to win the tax-and-spend debate.
The stakes are high, watch the Repugs crumble and shake.