Aug 3, 2009

2 Obama officials won’t guarantee no tax hike for middle-class

An Associated Press report at the link below says that two Obama administration officials have said they can't guarantee middle-class Americans won't see tax hike.

Translation: there will be a tax hike for middle-class Americans to go along with the promised tax hike for higher wage earners.

As the White House sought to balance campaign rhetoric with governing, officials appeared willing to extend unemployment benefits.

With former Federal Reserve Chairman Alan Greenspan saying he is "pretty sure we've already seen the bottom" of the recession, Obama aides sought to defend the economic stimulus and calm a jittery public.

If the Obama administration must rely on Alan Greenspan’s opinion that the we have seen the bottom of the recession, we are surely in deeper trouble than we thought.

Treasury Secretary Timothy Geithner and National Economic Council Director Larry Summers both sidestepped questions on Obama's intentions about taxes.

Geithner said the White House was not ready to rule out a tax hike to lower the federal deficit; Summers said Obama's proposed health care overhaul needs funding from somewhere.

More at the link below.

We wonder if the old Democrat label tax and spend liberal should be changed to tax and squander liberal?