Obama Speaks After House Passes Fiscal Cliff Bill: “Very Open to Compromise,” Can’t Just Cut Spending, Not Having Debt Ceiling Debate Again

09a7obamabidenfc Obama Speaks After House Passes Fiscal Cliff Bill: “Very Open to Compromise,” Cant Just Cut Spending, Not Having Debt Ceiling Debate Again

President Obama
spoke tonight after the House passed a
fiscal cliff deal previously passed by the Senate. Obama boasted
the bill would raise taxes on the “wealthiest 2 percent.”Saying he was “very open to compromise,” the president
nevertheless said he would not have another debt ceiling debate
with this Congress (though with this session of Congress almost
over, taken literally the president’s pronouncement is
insignificant). Obama’s expressed his wish not to repeat the 2011
debate over the debt ceiling (how much money Congress authorizes
the U.S. government to borrow)
before.The fiscal cliff deal passed tonight cancels virtually all the
reductions in spending growth meant to kick in when the fiscal
cliff was reached. As economist Bob Murphy noted
last week, the fiscal cliff consisted of about 98 percent tax
hikes and 2 percent spending reductions. Yet the president still
insisted “we cannot simply cut our way to prosperity.” He
needs to read
this, desperately.More on the fiscal
cliffRoll call of tonight’s House vote here

Continued here – 

Obama Speaks After House Passes Fiscal Cliff Bill: “Very Open to Compromise,” Can’t Just Cut Spending, Not Having Debt Ceiling Debate Again


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