Out on the campaign trail, President Obama is constantly intoning that Republicans’ failure to end the Bush-era tax cuts for the wealthy — a.k.a., to hike taxes on people making more than $250k a year — means that Republicans are perfectly content with cuts to education, cuts to defense, cuts to public-sector jobs, etcetera, as long as they can continue to protect their precious millionaires and billionaires. Or something. It seems that Republicans’ desire to continue to Bush-era tax rates for everyone is ostensibly responsible for the upcoming sequestration cuts, for our humongous national deficit… basically, it seems, for any shortfall in the federal budget. Which is weird, since President Obama’s proposed tax hike wouldn’t amount to all that much revenue anyway and would come at the cost of economic growth. But I digress.
President Obama continues to blame Republicans and their darned obstructionist Congress for their persistent calls for tax cuts, which he claims is a big part of what’s going to harm the Pentagon, and for agreeing to defense cuts in exchange for raising the debt ceiling in the first place — but Paul Ryan is having none of it, reports CBS.Continue reading on hotair.com