Tag: Bloomberg Television

Obama says Republican "fiscal cliff" plan out of balance

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U.S. President Barack Obama speaks at the National Defense University in WashingtonWASHINGTON (Reuters) – President Barack Obama rejected a Republican proposal to resolve a looming fiscal crisis on Tuesday as "still out of balance" and insisted any deal must include a rise in income tax rates on the wealthiest Americans. Obama told Bloomberg Television that the Republicans' reliance on eliminating tax deductions instead of letting taxes rise on Americans making more than $250,000 a year would not raise enough money to fund the government. …

Obama says not able to overhaul tax system, entitlements in two weeks: Bloomberg TV

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WASHINGTON (Reuters) – President Barack Obama said on Tuesday there is not enough time this year to come up with an overhaul of the U.S. tax system and entitlement programs as Republicans want as a condition for an agreement to avoid the fiscal cliff. Obama told Bloomberg Television that despite weaknesses in Europe and Asia, he believes the U.S. economy is “poised to take off. …

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