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Obama: GOP blocking of fiscal deal unacceptable
 
If President Obama allows all of the Bush tax cuts to expire, say some Democrats, he may be able to force House Republicans to pass tax cuts for the middle class.
If President Obama allows all of the Bush tax cuts to expire, say some Democrats, he may be able to force House Republicans to pass tax cuts for the middle class.
Chip Somodevilla/Getty Images

On Friday, President Obama accused a "handful of Republicans" in the House of holding up legislation to extend tax cuts for middle class Americans in order to try to preserve the cuts for the wealthy. "It's not acceptable to me and I don't think it's acceptable to you," Obama said during a visit to a toy factory in Pennsylvania. The president has laid out a proposal to address looming budget issues that calls for a $1.6 trillion tax increase over 10 years, $50 billion in new spending in 2013, and a change that would give the White House new power to raise the federal debt limit. But Republicans say the president's offer is a step backward, though they have not detailed their own plan. UPDATE: Speaker John Boehner (R-Ohio) claimed that Obama's proposal is "not serious," leaving the negotiations at a "stalemate." He added, "Let's not kid ourselves. Right now, we're almost nowhere."

 

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