"Just remember to extend those tax cuts costs $1tn dollars over 10 years. There is no way we can get back to a balanced plan that put us back on the path to living within our means, protects Medicare, invests in things we need, if you extend those tax cuts."
- Treasury Secretary Timothy Geithner • Discussing the role of the Bush-era tax cuts in the current fiscal cliff crisis. The Obama administration’s continuing stance? For higher wage-earners, the cuts must go away. The Obama administration in general is pushing for ways to raise revenue to deal with the debut crisis. But don’t expect any assistance from House Speaker John Boehner, who says that if Obama gets the $1.6 trillion in revenue he’s looking to raise, “He’s going to spend it.” What do you guys think is going to happen with the fiscal cliff? (via shortformblog)
(via shortformblog)
