President Barack Obama inserted a bizarre new element into the ongoing budget debate on Tuesday. According to Mr. Obama, something called “math” will be a deciding factor in whether he agrees to the Republicans’ proposals.
It’s not me being stubborn; it’s not me being partisan. It’s just a matter of math.
While both parties have already agreed to spending cuts, the Republicans insist that the budget gap can be closed merely by tightening loopholes and reducing deductions in the tax system. The President cites to this “math” thing to assert that the Republican approach can’t raise enough money without adding to the tax burden of middle-class families. Instead, Mr. Obama proposes that the Bush-era tax breaks be allowed to expire for individuals earning $200,000 or more a year and married couples earning $250,000 and more annually.
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