Obama: Tax Plan a 'Good Deal for the American People'
The AP reports:
With fellow Democrats balking, President Barack Obama declared Tuesday that a compromise with Republicans on tax cuts was necessary to help the economy and protect recession-weary Americans. He passionately defended his record against Democrats who complain he's breaking campaign promises.
"Take a tally. Look at what I promised during the campaign. There's not a single thing that I haven't done or tried to do," the president said.
He staunchly defended his decision to deal with the GOP in order to extend about-to-expire tax cuts for all Americans.
"There are some who would have preferred a protracted political fight," the president said at a White House news conference a day after the compromise was announced. "And I understand the desire for a fight. I'm sympathetic to that."
Many Democrats in Congress are unhappy about the agreement because it continues tax breaks for the wealthiest Americans. But Obama said a long political battle "would be a bad deal for the economy. And it would be a bad deal for the American people."
He promised a renewed fight during 2012 when the tax cuts would expire again, making the point that he still opposes the Republican position that high-income earners should get the extension, too. The agreement includes individuals making $200,000 or more a year and families making $250,000 or more.
Obama called "tax cuts for the wealthy" the Republicans' "holy grail."
"It seems to be their economic doctrine," Obama added, previewing a likely argument during his expected re-election race in 2012.
In the agreement, the president gave up a key goal. But he said the deal would stop taxes from rising for middle class Americans, "which is what I promised."
"It's a good deal for the American people," Obama said.
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