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Obama Highlights Wish List For Recovery, Offers Few Answers For Reducing Debt

January 25, 2012 by  

Obama Highlights Wish List For Recovery, Offers Few Answers For Reducing Debt

President Barack Obama’s State of the Union address focused on the idea that government intervention and tax hikes on the wealthy would be the keys to economic recovery, but will likely do little to lower the temperature in Washington, lawmakers and analysts told Fox News.

The news source reported that the President heads out on the road Wednesday to visit battleground States where he may sell his agenda and his bid for re-election, which was outlined in his address to Congress and the nation.

“Right now, we’re poised to spend nearly $1 trillion more on what was supposed to be a temporary tax break for the wealthiest 2 percent of Americans,” the president said in his address. “Do we want to keep these tax cuts for the wealthiest Americans? Or do we want to keep our investments in everything else — like education and medical research; a strong military and care for our veterans? Because if we’re serious about paying down our debt, we can’t do both.”

Fox News posted the transcript to the rebuttal by Governor Mitch Daniels (R-Ind.). He said Obama may not have caused the economic and fiscal crises, but he was hired to fix them — something that the lawmaker noted has not yet been accomplished.

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