Fiscal cliff can be avoided, obama says
November 15, 2012 · Print This Article
On Wednesday President Obama gave his first press conference since being re-elected and in an attempt to show bipartisanship, he began by reading a letter from a man who did not vote for him, but according to the president supports him in an effort to avoid the fiscal cliff.
During the press conference Obama stressed if a budget is not agreed upon “everyone’s taxes will go up”.
Obama says he is open to all ideas including closing loopholes but still insists on not extending the Bush era tax cuts.
“There are loopholes that can be closed, Obama said. “When it comes to the top two percent what I’m not going to do is extend a tax cut further for the wealthiest two percent – for those who don’t need it”
Obama said the nation’s “ top priorities has to be jobs and growth” with a focus on building infrastructure, investing in alternative energy, and making sure colleges are training students with the skills employers need.
U.S. Senator from Ohio,, Sherrod Browns said he believes a budget can be agreed upon in time, adding the middle class can not take a tax hike and he is ok with budget cuts as long as they are small enough to not cut jobs.
Come January 1, taxes for everyone are expected to go up, when asked what Congress could do in the short term if a compressive plan cannot be agreed upon, Obama said Democrats are ready to pass a smaller piece of legislation that would only stop the tax hikes. However, Obama did say he was open to compromise, similar to what House majority leader John Boehner (R-Ohio), said shortly after the election.
“I will not just slam the door in their face, Obama said. “I am open to new ideas, I believe this is solvable”
“I don’t have another election” Obama said.