President Obama warned he will veto any deficit plan brought to him by Congress that wasn’t ‘balanced’ between taxes and spending cuts.
‘We are not going to have a one-sided deal that hurts the folks who are most vulnerable,’ Obama said Monday morning, speaking from the Rose Garden.
He rejected accusations that tax increases for the wealthy was ‘class warfare’.
The president argued, as he has repeatedly, that wealthier Americans ‘shouldn’t get a better deal than ordinary families.’.
“This is not class warfare, it’s math. The money’s going to have to come from some place,” the president said, speaking to reporters. “If we’re not willing to ask those who’ve done extraordinarily well to help America close the deficit, the logic, the math says everybody else has to do a whole lot more. “
What’s so surprising about this rhetoric is how unsurprising it is. Obama has been making this same exact argument for years, starting in the 2008 campaign, but accelerating last year. Obama made the exact same argument — and veto threat, too — just before caving in December 2010 and agreeing to extend the Bush-era tax rates.