President Obama may have to break his campaign pledge and raise taxes on middle-class Americans to pay for public health care and the growing deficit, an eventuality that administration officials touched lightly on Sunday as they promoted an economy emerging from recession.
With an expected deficit next year of $1.8 trillion, and spending still being planned for a $1 trillion, 10-year health care reform, officials say something will have to be done to prevent further erosion of the economy.
"We will not get this economy back on track, recovery will be not strong and sustained, unless we ... can convince the American people that we're going to have the will to bring these deficits down once recovery is firmly established," Treasury Secretary Tim Geithner said on ABC's "This Week."
Asked point blank whether it was right to suggest it is a matter of when, not if, taxes will be raised, Geithner responded, "It is absolutely right."
To all of you who crossed over and voted for these people in a moment of weakness, UP YOURS!
The rest of the leaking bag can be viewed at this link.
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