Thursday, July 14, 2011

Obama Resists Spending Cuts: "This may bring my presidency down, but I will not yield on this."

Let's hope Obama's words are prophetic.
(Fox News) — From a GOP Aide at the Debt Talks:
“Over the last several days the White House has been walking back the savings on the Biden number.  Thursday it was $2 trillion, Monday it was $1.7-1.8 trillion, Tuesday it was $1.6-1.7-1.8 trillion.  This morning our staff met with White House folks and the wrapup from that meeting said that the WH is now at $1.5 trillion.
Given those figures, Eric pointed out that wherever we are it’s a long way from the $2.4 trillion needed to meet House GOP goals of dollar for dollar so he suggested a possible short-term goal in order to avoid default.  Said to the President, since we can only reach so much in savings and you keep moving the goalposts, I will move off my position of only doing one vote in order to avoid default.
The President then got heated.  He said he was willing to explain and defend his position.  Said he could get well above the numbers the GOP is talking about with revenue increases.  Said he wouldn’t be afraid to veto and he will take that message and defend it to the American people.  Said if we default it will be a tax increase on every American.  Said it is his responsibility is to the American people.  Said, I have reached the point where I say enough.  Would Ronald Reagan be sitting here?  I’ve reached my limit. This may bring my presidency down, but I will not yield on this.

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