Obama Campaigning for Fiscal Cliff
President Barack Obama has taken to the road on a campaign in his words for the middle class, suggesting that the Republicans could spoil America’s Christmas by allowing the country to go over the fiscal cliff. The road trip by the President will be to Pennsylvania and a factory that manufactures Tinkertoys.
The trip has angered Republicans, with John Boehner, the Speaker of the House calling it nothing more than a victory lap for his reelection. Boehner on Thursday rejected the proposals sent by Obama to help avoid the fiscal cliff, the combination of spending cuts and tax increases set to start in January.
Boehner has confronted challenges from Democrats and from some of his fellow Republicans, who are advocating for greater flexibility in responding to demands from Obama that they approve increases in taxes for the high wage earner and extend tax cuts for those in the middle class. The majority of Republicans are against any type of increase in tax rates.
The Republicans are not happy with the opening bid by Obama for measures on deficit reduction, which have been drawn for the most part from previous budget proposals by the president.
However, they are eyeing markets and the public opinion polls that indicate the public most likely will blame the Republicans if the end of the year is reached with no deal in place and the fiscal cliff takes place possibly throwing the country into a recession.
Republicans say the president is setting them up as the fall guy for the fiscal cliff because they believe the president will benefit from the country going over the cliff or if he is able to broker a deal to avert it.