Obama Changes Strategy about U.S. Fiscal Deficit

Washington, Nov 28 (Prensa Latina) Starting on Wednesday, President Barack Obama will implement the style of his election campaign to try to solve the fiscal abyss that is threatening the United States and has brought the bipartisan debates in Congress to a standstill.
Instead of meeting with lawmakers, the Democratic president has planned meetings with executives from large corporations, heads of medium-size companies, and community and trade union leaders to modulate public opinion against the Republicans.

The main controversy lies on the fact that Obama proposes to increase taxes to those who earn over 250,000 dollars a year (two percent of the richest people), while the Republican Party rejects that kind of tax reform.

According to a program announced by the White House, Obama met on Tuesday with the owners of small businesses in Washington to explain the need to prevent the fiscal abyss, which would lead to an automatic and mass increase in taxes in January 2013.

On Wednesday, the government scheduled meetings with executives from large consortiums, while Democratic congress people will meet separately with experts in deficit reduction, such as former government advisors Erskine Bowles and Maya MacGuinneas.

Obama’s weekly tour will conclude on Friday in Hatfield, Pennsylvania, where he may give a speech at the toy-making plant K’nex Brands, an event that will have a great psychological impact on people during the Christmas season.

The president must know that the time for campaigns is over. If he really wants to meet this challenge (the fiscal abyss), the Democratic Party must commit itself seriously by December 30, Republican parliamentary leader Mitch McConnell said.

If the Congress fails to reach an agreement before the new year, federal expenditures will be cut and taxes will increase by 500 billion dollars, thus affecting 88 percent of U.S. taxpayers.

Modificado el ( miércoles, 28 de noviembre de 2012 )


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Filed under BARACK OBAMA, crisis económica mundail, EE.UU.

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