February 11, 2010

FOUR YEARS IS ENOUGH, HUH?:

To Cut Debt, Obama Shifts on No Tax Vow (JACKIE CALMES, 2/11/10, NY Times)

Mr. Obama, in the interview, said “our real problem” is neither the spike in stimulus spending of the last year — as many Republicans charge–or the sharply lower tax collections from hard-hit businesses and individual taxpayers. “The real problem,” he said, “has to do with the fact that there is a just a mismatch between the amount of money coming in and the amount of money going out. And that is going to require some big, tough choices that, so far, the political system has been unable to deal with.”

The president’s tax shift is a gamble not unlike the one the first President Bush took in 1990 when he dropped his “no new taxes” promise to reach a deficit-reduction deal with Congressional Democrats.


Posted by Orrin Judd at February 11, 2010 5:01 PM
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