Economics
Obama Says Extending Tax Cuts to Rich ‘Irresponsible’
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President Barack Obama said it would be “irresponsible” for Congress to extend tax cuts for the wealthiest Americans and voiced support for Treasury Secretary Timothy Geithner and National Economic Council Chairman Lawrence Summers.
“I can’t give tax cuts to the top 2 percent of Americans” and “lower the deficit at the same time,” the president said during an hour-long town-hall discussion on jobs and the economy on CNBC television from the Newseum in Washington.