Hot Rhetoric, Tiny Numbers Separate Obama and Boehner

Thursday, 20 Dec 2012 05:12 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

In the "fiscal cliff" standoff, President Barack Obama wants to raise taxes by about $20 billion a year more than House Speaker John Boehner. The president wants to spend about that much more yearly than Boehner does, too.

That's real money by most measures. Yet such numbers are hardly noticeable compared to the $2.6 trillion the government expects to collect in taxes next year, and to the $3.6 trillion it plans to spend.

Going over the "cliff" could bring economy-shaking tax increases and spending cuts that start hitting in early January unless lawmakers act first. Their inability to compromise so far shows that their problem is far more than arithmetic — it's also about the difficult politics that Obama and Boehner face when it comes to lining up votes.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Congress Must Act or Dozens of Tax Breaks to Expire at Year's End

Tuesday, 30 Sep 2014 10:24 AM

While it will be termed a lame-duck session, when Congress returns to business following the election, they have a packe . . .

Expert: Obama Fails Kurds, Who Are 'Begging for Arms'

Tuesday, 30 Sep 2014 10:12 AM

President Barack Obama has pledged to protect and arm Syrians and Iraqis facing terrorist attacks by the Islamic State ( . . .

GAI: Obama Skipped Over Half His Daily Intel Briefs

Tuesday, 30 Sep 2014 10:00 AM

In the fallout over President Barack Obama blaming the intelligence community for the rise of the Islamic State, a new r . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved