Obama Tells Republicans No Deficit Reduction Without Tax Hikes

Townhall.com Staff
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Posted: Jun 29, 2011 1:42 PM
Obama Tells Republicans No Deficit Reduction Without Tax Hikes
President Obama today ripped Republicans for refusing to accept tax hikes, even for the wealthiest Americans, as part of any deal to raise the nation's debt ceiling beyond $14.29 trillion.

"You can't reduce the deficit to the levels that it needs to be reduced without having some revenue in the mix," the president told a White House news conference in the wake of a breakdown in administration negotiations with Congress on reaching a debt-ceiling deal while at the same time reducing soaring deficits.