Day By Day

Sunday, August 02, 2009

Hang On To Your Wallets

You just knew this was coming.

From ABC News:

To get the economy back on track, will President Barack Obama have to break his pledge not to raise taxes on 95 percent of Americans? In a “This Week” exclusive, Treasury Secretary Tim Geithner told me, "We’re going to have to do what’s necessary.”

Geithner was clear that he believes a key component of economic recovery is deficit reduction. When I gave him several opportunities to rule out a middle class tax hike, he wouldn’t do it.

“We have to bring these deficits down very dramatically,” Geithner told me. “And that’s going to require some very hard choices.”

Read the whole thing here.

So much for Obama's solemn pledge to only tax the rich. I hope he is held as accountable for his betrayal as Bush senior was.


More on the subject here.

Is it too early to start the "Liar, liar, pants on fire" campaign? Yeah, probably.