Obama Gets Social: Answers Questions About Fiscal Cliff on Twitter
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Obama took to the social-sphere once again, answering questions about the $600 billion fiscal cliff on Twitter today.
Questions were submitted via the #My2k tag...indicating that each U.S. household would see taxes rise by $2,000 on average if nothing is done.
Some of the questions included:
So, there you have it. Obama isn't planning too much in the way of spending cuts, not enough revs will be brought in from cutting deductions, and the Chicago Bears will make the playoffs.
Markets are lower overall on the session Monday. For the full exchange, click here.
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Questions were submitted via the #My2k tag...indicating that each U.S. household would see taxes rise by $2,000 on average if nothing is done.
Some of the questions included:
- "what is your opposition to taking away deductions for the 2% rather than up the rate? Seems like a reasonable compromise? WH: "not enough revenue, unless you end charitable deductions, etc. less revenue=more cuts in education etc."
- "Mr. President, Why not place more emphasis on reducing government spending, than on raising revenues?" WH: already cut $1T+ in gov spending last yr. Discretionary spending lowest as % of GDP since ike. Open to more smart cuts but not in areas like R&D, edu that help growth & jobs, or hurt vulnerable (eg disabled) - bo
- "Who will win it all first: Chicago #WhiteSox, #Bulls, or #Bears? #NFL #NBA #MLB cc: #My2k @BarackObama @whitehouse" WH: da bears still gotta shot, despite sad loss this weekend! plus rose will return for playoffs!!! -bo
So, there you have it. Obama isn't planning too much in the way of spending cuts, not enough revs will be brought in from cutting deductions, and the Chicago Bears will make the playoffs.
Markets are lower overall on the session Monday. For the full exchange, click here.
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*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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